Rubic Weekly Report 11/11/2022
Hello, Rubicans! Another week has passed, and Rubic’s team has been working hard to provide you with new updates. Let’s see what’s happened this week.
Hacker attack update:
We’re closely monitoring how the funds are being moved from the hacker’s wallet. We deeply thank all the community members who care, follow that wallet, and express concerns.
Most of the funds were sent to the FixedFloat exchange and then to XMR. There’s no KYC on those exchanges. A small amount of funds was sent to Gate.io and other exchanges. We are in close contact with them at the moment. Tether was also contacted to freeze the USDT he bought. They asked for more information, and we are dealing with this right now.
As a result, for now we were able to block around $60K USDT. We’re continuing to track more. Our team would like to thank Crystal & FixedFloat for their collaboration.
- Kava Integration
This week, we added Kava to the list of supported blockchains, increasing it to 21 overall networks for cross-chain swaps! The Kava Network is the first Layer 1 blockchain to combine the speed and scalability of the Cosmos SDK with the developer support of Ethereum.
Let’s dive into Kava’s numbers:
- Kava’s TVL is over $232.9M
- Market Cap is currently around $320M
- Average 24h Trading Volume is $11.4M
- Kava’s ecosystem unites more than 60 various projects including Curve, Gate.io and Kraken
- Kava has 3 native dApps: Kava Mint, Kava Lend, Kava Swap
With this integration, Rubic broadens to 21 supported blockchains and thousands of available assets.
From now on, our users can implement Cross-Chain trades between Kava and Avalanche, BSC, Bitgert, Celo, Cronos, Ethereum, Polygon, Telos.
Read the details about this integration here: Rubic is Integrating the Kava Blockchain
2. Multichain Contracts Update
Rubic’s Dev team completed the Multichain contracts update. Before, we only used Multichain to bridge tokens. Now, users can implement Cross-Chain Swaps via Multichain, as well.
3. Platform Improvement
This week, we carried out server-side work to enhance Rubic’s performance. We managed to increase the operational stability of the Rubic App and our landing page.
Also, did you notice our new feature? Now, our users can copy the token’s address to check whether it’s the right one. All for your safety!
4. Modal Window
We are working on a modal window that will appear before the swap if the slippage or price impact is too high.
Soon, you won’t have to worry about changing slippage for every trade. If you happen to set a high slippage tolerance for your previous swaps, we will warn you before you make another trade.
1. Rubic Birthday Airdrop
It’s finally time for some good news — the Rubic Birthday Airdrop is right around the corner!
As we communicated earlier, Rubic’s NFTs are your key to potential airdrops — not only from us, but also from our current & future partners.
The first one is our beloved partner, @symbiosis_fi. We’re happy to announce that those who claimed the special Rubic x Symbiosis NFTs will be airdropped a share of 50,000 SIS!
The tokens will be distributed by the end of November. Keep an eye on further distributions!
2. Maxx Finance Airdrop
On a separate note, our partners @MaxxFinance will airdrop their platform tokens to those who were holding $RBC on October 30th!
The number of participants is limited, & the dropped tokens will be autostaked for a year.
Read more: https://maxx.finance/features/freeclaim-airdrop.
3. Algebra Airdrop
In October, Algebra announced its new airdrop season! If you happened to join the Algebra Protocol in April, held at least 1,000 $ALGB, $RBC, and/or $WISH tokens, and managed to get into the snapshot on October 28, you’ll gain your extra assets tomorrow!
Read the details here: The Algebra Airdrop is Here
4. AMA with the Founders — Summary
To give more clarity about the recent hacker attack, we’ve decided to summarize our latest AMA hosted with Rubic’s founders.
Rubic is not just a token, but also thousands of users & hundreds of partners. The platform rubic.exchange continues to work without interruptions. We have enough funds to move on and continue our development. There’s no drop in swap volume or any partnership cancellations — everything operates as usual.
35M $RBC, which was not in circulation, was sold by the hacker, affecting the circulating supply and the price of $RBC. Initially, it was locked on Ethereum to mint the corresponding amount on the BNB Chain in the wallet, which was later compromised.
What needs to be solved?
- Obviously, the RBC <> BRBC bridge needs to maintain the ratio at 1:1
- Trading bots, who bought Rubic when prices were extremely low, and who can potentially dump the token in the future
- 35M RBC tokens, which are now unlocked on ETH
For these reasons, we decided to review & improve our tokenomics.
What’s coming along with the new tokenomics?
- Additional Liquidity
- More partners & VC funds for our development
- Extra rewards for our loyal holders & stakers
We’re planning to share the new Rubic tokenomics by the end of November.
Thank you for your patience & dedication. We’ll keep you updated.
5. $RBC on Gate.io
As you know, due to the recent events, $RBC trading was stopped on some CEXs.
Now, you can trade the RBC token normally again. Take advantage of its resumed trading at https://www.gate.io/
6. Staking 3.0 Rewards Resumed
Good news for our Stakers! Staking 3.0 is live, and rewards have been resumed.
You can claim them at any time — the corresponding amount of $RBC tokens was locked on Ethereum for this purpose.
Follow the link: https://app.rubic.exchange/staking
7. Lisbon Blockchain Week
This week, Rubic’s Marketing team member Alice attended numerous crypto events in Lisbon, Portugal.
8. New Widget Integrations
To continue our partnership, Maxx Finance has also integrated Rubic’s Widget.
Users can utilize Maxx Finance to bridge their tokens from Ethereum, Binance Smart Chain, and several other networks into Polygon.
Join us today on Twitter and Telegram to discuss the latest news with Collin O’Brien. Today, we’ll focus on the weekly update. As always, feel free to ask your questions about all the recent and upcoming events.