February 2022 Monthly Recap

February kicked off with the official announcement of our private sale raise — $7.3M in total. The funding round was led by Digital Strategies, DFG Group, SigNUM Capital, D1 Ventures, Global Coin Research, Ocean Foundation, DWeb3 Capital, Maverick Global Ventures, and others.

Community AMAs

Graeme Fox, Ruby’s Director of Business Development, joined multiple AMAs, including BlockElite group, Crypto Expert, CryptoTitans, and Crypto Miners. You can check out a full recap of the AMA with CryptoMiners here and catch all the latest Ruby news including upcoming AMAs in our Telegram group.

Reaffirming Our Commitment to Web3 Privacy

Though Ruby is a young project, we are gaining momentum and support because of you, our community, and the growing awareness of the importance of the privacy that was promised with Web3. As a team we are shifting our immediate focus away from data monetization to prioritize preserving privacy for the builders and users of Web3.

We believe as Web3 adoption grows, users will be able to engage with dApps and networks, and they’ll need a solution for managing third party access to their data. Ruby is that solution, and we are introducing a new model for Web3-friendly data sharing, using Functional Encryption to ensure that users have a way to protect and control every aspect of their data.

What’s Next?

We are continuing to build through Q1- adding new developer resources, introducing a brand and website re-design, and updating our white paper and content to accurately reflect our mission — bringing privacy to Web3.

About Us

Ruby Protocol is a cross-chain, privacy-first infrastructure, powered by Polkadot. Our layer-1 protocol utilizes Functional Encryption (FE) cryptography, which allows users to adopt a modular approach to data privacy and ownership. This novel solution will allow users to encrypt sensitive information on-chain, which can only be decrypted by holders of an approved private key.

Ruby’s FE Substrate-pallet will serve as the building blocks for privacy-first smart contract DApps building on the native Ruby Chain, while also acting as a privacy layer for Parachains and Web3 DApps across the Polkadot ecosystem.