The most frequent questions which have been addressed at yesterday’s AMA:
- Why do we need VCs/Funding?
Without additional funding, the Rubic team can slowly continue development with its current cross-chain swaps proposition (adding 1–2 chains per month) for 6 months to a year or so, but there will be no marketing, listings, or major product upgrades. There’s no guarantee that the competitive situation allows us to earn enough from fees to sustain the project beyond a year, though.
At the current moment, all the major crypto projects are connected to or even controlled by VCs. It’s not just money, it’s access to other projects, collaborations, and networking. It’s unlikely we can be integrated into top wallets, trackers, or DEXs if we are not pushed and introduced by top people/companies which have an interest in them.
2. Why could the team not buy back 35M tokens from the market?
The Platform generates about $20K per month and all this revenue goes for operational needs.
Theoretically, the team could do it by allocating a part of their revenue, but it will take years.
3. Why do we need 1B, and not 300M, for example?
Rubic has the ambition to reach the top 100 crypto projects, and we believe we can do that, with our experience, updated value proposition, and additional funds. We’re planning to expand our SDK from just swaps to the aggregation of any cross-chain tech a Web3 dApp might need: from signals and oracles to NFT bridges and smart contract execution — in ready-made templates for DEXs, Lending/Farms, and more.
4Additional investments:
It’s really hard to predict the supply that we might need for success. However, we’ve done calculations on how much we might need for extra manpower, listings, and marketing.
We plan to attract about $9M during 2023 (which will be backed by 2024 emission), the next round could be around $20M (150M tokens, lets say, at a price of $0.13), and so on.
There should always be the space for next rounds. That’s why we have 5 unlocks.
Please note that this reflects our current thinking and depends on many other factors. If there’re no VCs agreements, or we all decide not to go this way — no tokens will be minted.
CEX listings:
Usually CEXs require from $200K to $500K in token equivalent for listing and liquidity. It’s about 16M RBC at the current rate.
4. What will happen with the current CEX listings?
If the voting is successful, in the ideal case, they will replace the token contract address with a new one. If not, we will do everything to list it again and continue talking to other exchanges (where talks have been suspended due to the lack of listing funds).
5. If I hold 0.1% of the supply why would you give me 0.01% now?
Next year, nothing changes for any of our holders, as in 2023 we mint 176M tokens (which cover 159M in circulation and 17M for retrodrop/marketing).
After 2023 we may add more tokens for VC funding, if required. We believe that extra funding, listings, and more partners would give benefits to every holder. In the end, your 0.01% will be much higher than the initial 0.1%, in absolute terms.
6. The team will have access to many tokens, can they dump? Can hackers get tokens and dump?
We’ve learned the lessons and all the minting will be controlled by multisig from different locations and networks. Also we can decide to mint and freeze, not being able to unfreeze until the exact date.
7. What will be the listing price?
The same as before the snapshot on Uniswap.
8. What will happen with BRBC and Rubic on Polygon?
New RBC on Polygon will be automatically created after a new token is created. For BRBC — we will need more time, as we need to work with bridge solutions.
