Rubic Weekly Report 04/29/22
Here is our weekly update!
This week, we launched Round 1 of our Liquidity Providing Program. Right now, Round 1 is live and open to all users! You can start adding liquidity directly on Rubic right away.
Any user can provide liquidity & get an APR of up to 27% in stablecoins via https://app.rubic.exchange/staking-lp.
Since rewards are distributed through a stablecoin like USDC, it has no volatility. You can check your APR daily and estimate your profit. Learn more about our LP Program & read our detailed instructions here.
2. Telos Integration
Rubic has successfully completed the full integration of the Telos Protocol into rubic.exchange. Telos is the community-driven network that powers one of the fastest EVMs in the world. This integration is an important step for Rubic and our Multi-Chain ecosystem!
Now, our users can complete Multi-Chain and On-chain swaps on rubic.exchange from any token on the Arbitrum, Avalanche, Aurora, BNB Chain, Fantom, Ethereum, Harmony, Moonriver, Polygon, and Solana networks to any token on the Telos network, and vice versa.
The integration of the Telos Protocol marks a brand-new full blockchain integration of 2022 for Rubic. However, it is only the beginning of numerous upcoming integrations. For the integration of the Telos Protocol, the Rubic Development Team completed the integration of 2 main DEXs on Telos: SushiSwap and Zappy. Both DEXs are now available to use for both On-chain and Multi-Chain swaps with Telos.
Telos is the community-driven network that powers one of the fastest EVM in the world. The network’s Telos EVM offers 0.5 second block times, highly scalable infrastructure with up to 10,000 transactions per second, low fixed cost transactions in the pennies, and no front-running. Currently, the Telos Protocol has a $15M daily trading volume with a Total Value Locked of $115M.
3. Staking Updates
This week, we have informed the community about closing the Second Round of our Staking Program, as the conditions of the Third Round will be more contributive to the future development of the Rubic Protocol and will have even better conditions. Also, it will be more oriented towards Rubic holders and accessible to our users due to the larger staking pool volume.
All the finalized conditions of the Third Round will be announced later, but the estimated start date begins from late May to late June. The Third Round will be more token holder-oriented and more effective for the tokenomics of the project. Moreover, the Staking Round mechanics will be improved.
Any user who has participated in Round 2 of Staking will get an extra 20% of the rewards that the user receives until the withdrawal of funds (e.g., today) or the end of the Staking Round on April 30th 23:59 UTC, due to a change in conditions. This compensation will be accrued after May 7th, so you can withdraw your staking deposit even now.
All the participants of the Second Round of our Staking Program are included in the whitelist for participation in the 3rd Round. Ultimately, the end of the Second Round of our Staking Program makes it possible to join our Liquidity Providing Program and get an APR of up to 27% in stablecoins via https://app.rubic.exchange/staking-lp.
1. This week, we raffled whitelist spots for our Liquidity Providing Program. Thank you to all the participants! Here are the lucky winners who will get a guaranteed allocation of 800 USDC, with a minimum required deposit of 500 USDC.
2. Our Liquidity Providing Program launch was supported by many Twitter influencers and ecosystem projects. Here are just a few examples:
3. Moreover, our protocol development updates and TVL rise was noticed by many Twitter influencers. Here are also just a few examples:
4. So far, we have more than 3,565 referral links created as part of our Referral Campaign. We’d now like to share some of the projects that we’re building partnerships with. This week, the following projects integrated the Rubic Relay Widget with the help of our referrals:
RYI Unity (RYIU) UnityVentures (UV) — A community-driven decentralized applications solutions company.
Thunder Apes ($Apes) — A collection of NFTs with special activities and promotions for holders.
Pandora X (PANX) — An advertising city in the metaverse with auto-compounding features.
During this AMA, Collin will cover all the latest updates and answer questions from the community, which you can always send him on Twitter or Telegram at https://t.me/CollinOBrien. The best 5 questions will be rewarded with $50 in BRBC & $50 in TLOS. Check out all the details here.