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 Cross-Chain future, and the fact that a solution would need to exist to handle the movement of value between blockchain networks.
Every day, 5+ 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 a Cross-Chain Swap service - 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 Cross-Chain swaps within their dApps, wallets, and websites.
During this Hackathon, Rubic completed the integration of the TRON network to our Cross-Chain Swap service. This will enable users of the Ethereum, Binance Smart Chain, Polygon, Avalanche, Moonriver, Fantom, Optimism, Arbitrum, Aurora, Moonbeam, Fuse, Telos, Celo, OKXChain, Cronos, Gnosis, and Boba chain networks to easily complete swaps to and from any token in the TRON ecosystem.
The integration of the TRON network also includes the integration of SunSwap DEX to our protocol. In the future, we will also integrate other DEXs on the TRON network which will allow us to also be a DEX aggregator for On-Chain swaps on the TRON network.
What it Does
*1 *- Rubic is a One-Click Cross-Chain Swap service with over 53,700 users and $270M+ worth of assets swapped thus far. Rubic enables the swapping of 15,500+ tokens across 19 blockchains, including Ethereum, BSC, Polygon, Aurora, Arbitrum, Boba, and more. 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, Binance Smart Chain, Polygon, Avalanche, Moonriver, Fantom, Optimism, Arbitrum, Aurora, Moonbeam, Fuse, Telos, Celo, OKXChain, Cronos, Gnosis, and Boba 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 Сross-Chain Routing integration function for partners and users, the integration of which is free.
How we built it
At the beginning back in 2020, 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.
Our detailed protocol structure can be found here: https://docs.rubic.finance/
Challenges We Ran Into
We wanted to make cross-chain as user-friendly as possible. Transactions took a very long time and it was often necessary to sign several transactions - in the source and target networks. If the user does not have a native currency in the source network, he will not be able to conduct the second part of the transaction. All these restrictions pushed us to make the Сross-Chain Service the way it is now. One of our team goals is to create the most convenient and fastest Cross-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 Cross-Chain Routing feature we have now.
Beside the infrastructure challenges, we have also faced issues with the development of integrations besides 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 10 months, we have integrated 19 blockchains to our Protocol, with the latest integration being the TRON network as part of this Hackathon.
Our business development team has also succeeded in helping more and more projects in bringing our unique Cross-Chain solution to their platforms. Currently, there are more than 90 projects who have installed our Rubic Relay Widget and 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 at our documents page: https://docs.rubic.finance
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 Cross-Chain Service 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 Service, 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 Rubic NFT Widget. Lastly, we are constantly updating our SDK to enable native integration of our Cross-Chain Service into apps, dApps, websites, and wallets - which will further increase the use of our Service.