Rubic

Inspiration

Rubic started as a P2P trading platform with cross-chain functionality. The platform was launched in September 2020 by Vladimir Tikhomirov and Alexandra Korneva.

The inspiration for Rubic’s current development path was drawn from our vision of a Multi-Chain future, and the fact that a solution would need to exist to handle the movement of value between blockchain networks.

Every day, 3+ Million DeFi users waste hours and hundreds of dollars on fees to migrate between blockchains, switching between DEXs and using bridges.

When we realized this issue, our team created the Multi-Chain Protocol - enabling users to swap any token for any other token, on and between all blockchains; with an SDK for developers so they can enable native Multi-Chain swaps within their dApps, wallets, and websites.

Hackhathon Development

During this Hackathon Rubic have completed the integration of Aurora network to Rubic Multi-Chain protocol. This will enable users of the Ethereum, Binance Smart Chain, Polygon, Avalanche, Moonriver, Fantom, Solana, Harmony, and Arbitrum networks to easily complete swaps to and from any token in the Aurora ecosystem.

The integration of the Aurora network is the first stage of our complete integration of the NEAR ecosystem. During this stage, Rubic has completed the integration of 2 main DEXs on the Aurora network. These 2 DEXs are: WannaSwap v3 and TriSolaris. Both of these DEXs are now available to use for both On-Chain and Multi-Chain swaps. The integration of these DEXs will enable users to not only find the best rates during On-Chain swaps, but will also allow Rubic’s Smart Routing to find the best route and price for your Multi-Chain swaps. As a result of these integrations, Rubic’s Multi-Chain Protocol allows users of any blockchain to easily reach the Aurora Network in a matter of minutes; without the need to waste their valuable time.

What it Does

1 - Rubic’s Protocol offers easy trading for more than 15,000+ assets across Polygon, BSC, Ethereum, Avalanche, Moonriver, Fantom, Solana, Harmony, Arbitrum, and Aurora networks; using our custom and unique Multi-Chain Protocol. Utilizing liquidity pools and our own smart contracts, Rubic provides an extremely easy-to-use cross-chain solution to all traders.

2 - Since Rubic aggregates several DEXs, users can access on-chain swaps and bridges on the Ethereum, BSC, Polygon, Harmony, Gnosis Chain, Avalanche, Fantom, Moonriver, Solana, Arbitrum, and Aurora networks. By also utilizing external DEXs, users are ensured the best-possible rates.

3 - The Rubic Relay Widget has the full functionality of rubic.exchange, and enables users to buy and sell tokens on any website. This means that users of any project can buy that project's tokens without having to leave their website. Integration is both simple and fast!

4- Rubic has developed a fundamentally new Multi-Chain Routing integration function for partners and users, the integration of which is free.

5- OnRamper is a fiat on-ramp solution aggregator. Its integration enabled our users to buy cryptocurrency directly with their fiat currency. Users may always choose either KYC-required or non-KYC options. Now, users can choose between 45 different fiat currencies to purchase up to 124 cryptocurrencies.

How we built it

At the beginning, our team was using integrated bridges as a solution for cross-chain swaps, but our development team has come up with the idea of swapping different assets between different chains. Later, when we started researching this idea, we found out that there are no projects who had similar technology. This was an important moment for our project. Our team decided that we must increase the convenience factor for our users by creating this solution.

How does Rubic’s Multi-Chain Routing technology work?

It involves 3 main steps:

1 - Rubic completes the swap of the chosen token to USDC.

2 - We complete the swap of the USDC token to USDC in the target network.

3 - USDC in the target network gets swapped to the token which the user has chosen.

Rubic doesn’t just complete the bridge swap of USDC tokens; we use our own token pools for different networks in order to provide the fastest and the cheapest swaps of our users’ assets.

Our detailed protocol structure can be found here: https://docs.rubic.finance/multi-chain-protocol/protocol-structure

Challenges We Ran Into

Мы хотели сделать кросс-чейн максимально удобным для пользователей, но бриджи не позволяли этого добиться. Транзакции шли очень долго и зачаствую, нужно было подписывать несколько транзакций - в исходной и целевой сетях. Если у юзера не окажется нативной валюты в исходной сети - он не сможет провести вторую часть сделки. Все эти ограничения подтолкнули нас сделать мультичейн протокол таким, какой он есть сейчас. One of our team goals is to create the most convenient and fastest Multi-Chain feature, but the first versions of our bridges weren’t quite good enough to accomplish it. Some of the transactions were pending for a long time, and in most of the cases, users had to sign several transactions in both the source and target networks. If users didn’t have the native network coin, he was not able to complete the second part of the swap.

These factors led us to create the Multi-Chain Routing feature we have now.

Beside the infrastructure challenges, we have also faced issues with the development of integrations beside the EVM structures. Even blockchains like Solana or NEAR are close enough to Ethereum, but have completely different instruments, APIs, and smart contract languages. All of these factors required extra time for its development.

Accomplishments That We're Proud Of

There are a lot of things which we are proud of. First of all, the team is proud of our current development progress. Over the last 5 months, we have integrated 10 blockchains to our Protocol, with the latest integration being the Aurora network as part of this Hackathon.

Our business development team has also succeeded in helping more and more projects in bringing our unique Multi-Chain solution to their platforms. Currently, there are more than 40 projects who have installed our Rubic Relay Widget, and even more projects are currently planning to integrate our SDK.

Our marketing team has also completed a lot during this time. We have increased our community by 5 times and have made partnerships with a lot of projects, which often included contests and different marketing campaigns.

Our team is proud of our project along with our achievements, and we are happy to share the details about our Protocol. You can find all additional details in our pitch deck.

What We Learned

During the development of our product, we have understood one important thing. Rubic is building a product for a wide audience, and it’s important to foster our connection with our community and users. We learn from their remarks and always strive to improve our platform, in order to provide the best service for all of our users.

All of the improvements which we are making to our Multi-Chain Protocol are being made in order to provide the best experience for our users. This improvement also includes the integration of new networks, which are often completed in a short and efficient time.

What's Next for Rubic

Rubic is going to continue adding DEXs and blockchains to our Protocol, which will further increase the interoperability of new blockchains in the industry; as well as provide users with a way to migrate across blockchains with ease. We are also making our own mobile app. Lastly, we are finalizing our SDK to enable native integration of our Multi-Chain Protocol into apps, dApps, websites, and wallets - which will further increase the use of our Protocol.