How will USDC pools and new Routing Contracts improve Multi-Chain Routing?
On November 23rd, Rubic announced that Multi-Chain Routing pools will be switched from RBC to USDC as a middle asset in routing. We also mentioned that we are planning to update our Multi-Chain Routing smart contracts.
In this article, we’ll provide the statistics which will help to understand why USDC pools will be better for the users of our protocol, and why new Multi-Chain Routing contracts will be more efficient than old ones.
The Benefits of USDC Pools
This solution allows us to create a unique and simple Multi-Chain solution for our users. You can get acquainted with the technology behind our Multi-Chain Routing feature by reading this article or looking through our documentation.
As you know, starting from its launch, Multi-Chain Routing relied on RBC pools on the Ethereum, BSC, and Polygon networks. For further integrations like Avalanche, Moonriver, and Fantom, we were using USDT as our middle asset.
Our Multi-Chain solution was already using stable coin pools before, as, again, the integrations of Avalanche, Moonriver, and Fantom were made using USDT tokens as a middle asset in our Multi-Chain Swaps. While we were creating these solutions, our development noticed that the pools on stablecoins were much more efficient for users to complete swaps. And after deep research, the development team has made a major suggestion — to switch our pools from RBC and USDT to USDC.
- Fewer Steps while Routing
The switch from RBC to USDC pools will allow users to take a shorter route when completing the swap. This will lead to significantly lower gas fees for users, and will increase the speed of transactions.
2. Less Price Impact
The introduction of USDC pools will also mostly eliminate the price impact of Multi-Chain Routing swaps of large amounts of tokens. This issue was caused by the lower liquidity of BRBC/wRBC tokens and was solved by switching to a stablecoin that has higher liquidity. This will, for example, allow users to more easily complete swaps of more than $10,000 using Rubic.
3. Lower Slippage
The introduction of USDC pools will also improve the stability of swaps, as from now on users will face even fewer issues while swapping their tokens. The price of RBC sometimes caused the revert of the swap due to slippage. The USDC rate is stable, and the slippage will now only affect tokens that they’re swapping.
The difference between RBC pools and USDC pools with Statistics:
We will show you the statistics of different stablecoin swaps via Multi-Chain Routing in our previous pools, and through using the current one. As stablecoins have an appropriately stable value, this is the most accurate way to show the difference between our pools.
In the screenshot we have attached, we have made a comparison between the number of stablecoins which our users received using our RBC pool, and the comparative value as if they completed the same swap using the USDC pool.
You can see the details by using this link:
New Multi-Chain Routing Contracts
Our development team has found out how to improve Multi-Chain Routing contracts. The new contracts will have several important updates.
First of all, the transaction will complete fewer steps before processing, which will allow us to decrease the transaction gas fee. The new Multi-Chain Routing contracts are currently being audited by CertiK.
Second, the updated Smart Contract will also have more DEXs integrated into it.
New DEXs which will also be used by our Multi-Chain Routing solution:
Ethereum: Uniswap v.3, SushiSwap
BSC: SushiSwap
Polygon: SushiSwap
Fantom: SpiritSwap
These integrations will have a significant impact on our users. New DEXs will allow Multi-Chain Routing to give the best rates on the tokens they want to buy. In the future, we are planning to add more DEXs and protocols to the Multi-Chain Routing system.
Rubic is planning to launch new contracts on the first week of December.
Results
As you might see in the statistics which we’ve provided, new Rubic updates will have a significant impact on our Multi-Chain Routing protocol. Starting from next week, it will become cheaper, faster, and more reliable.
We will continue to develop our products in order to provide the best services for our platform. Our team is always looking forward to hearing feedback from our users. If you have any questions, feel free to contact us via support@rubic.finance or by sending direct messages to team members.
About Rubic
https://rubic.exchange and https://rubic.finance
Rubic is a Multi-Chain Swap Protocol which allows you to swap any of 9500+ tokens, on and between 8 blockchains in one click. Multi-Chain protocol includes on-chain & multi-chain swaps for Ethereum, BSC, Polygon, Avalanche, Moonriver, Harmony, Tron & xDai, fiat on-ramps, and more!
The aim of the project is to deliver a complete One-Stop, Full Circle decentralized trading platform. Rubic.exchange is a place where users can complete Multi-Chain swaps using different solutions to get the best rates from all leading trading protocols.
