Ruby Protocol Monthly Review — April 2024
Greetings, Ruby Protocol Community!
April has witnessed and will continue to witness some of the most significant events in cryptocurrency history and their ramifications.
April saw the halving of BCH and BTC block rewards, which might significantly impact their value. The SEC’s decision to pursue Coinbase and CZ’s punishment could set new regulatory standards in the United States. Furthermore, the introduction of EigenLayer’s mainnet marks a big step forward for Ethereum’s scalability and security.
In summary, April is jam-packed with news that captures the multidimensional nature of the crypto markets, ranging from regulatory hurdles and economic indicators to technology breakthroughs and market trends. These events reflect the sector’s complexity and growing integration into larger financial and regulatory frameworks.
Amidst the volatility, it’s important to remember that the crypto market’s resilience is deeply ingrained in its code, and forward is the only way.
Without further ado, here’s a recap of our achievements:
Announcing Ruby Protocol’s Transition
In April, we decided to officially transition from an Intent-Centric Account Abstraction Layer to an Intent-Centric Chain Abstraction Layer for Web3.
With over 334,931+ email sign-ups and a community of 112,737+ active addresses on Ruby One, we’ve proven the success of our overall account abstraction strategies and it is time for the next challenge!
Additionally, this decision is underpinned by chain abstraction’s nature and future implications as it is not a theoretical concept.
We are convinced that Chain Abstraction is a practical solution. It is a set of tools and libraries that enable us to build applications, abstracting the complexities of each specific blockchain. This approach is not just about simplifying development, but about empowering users, giving them the tools to navigate the blockchain landscape with confidence.
Moving forward, Ruby Protocol will build on our success and further refine email & Web2 login, social recovery, authentication methods, and relayer-sponsored gas fees. With the already-launched Asset Bridge, our account abstraction method will empower users to use crypto in one go.
We believe this direction and its inspired features will simplify the user experience and empower developers to build dApps for a broader audience, unhindered by multi-chain fragmentation and mental burden.
Expanding Our Ecosystem
April is also a month of rapid expansion of the Ruby Protocol Partner Ecosystem, mainly through a series of strategic partnerships.
We would also like to take this Monthly Review to praise our operation team for its outstanding output. We strongly believe these strategic partnerships and the ecosystem they form will be the driving force behind Ruby Protocol’s future.
This rapid expansion in April was kicked off by our collaboration and partnership with Mint Blockchain, a leading Layer 2 blockchain designed explicitly for the NFT industry.
As the first step in this exciting collaboration, we integrated Ruby Protocol with Mint Blockchain. This empowers Ruby users to seamlessly mint their RubyOne Soulbound Tokens (SBTs) directly on the Mint Blockchain platform. The integration code is readily available through a dedicated Ruby Protocol library on Github and deployed on Mint Blockchain.
The NFT space holds immense potential, especially in AI-Generated Content (AIGC), Real-World Assets (RAW), and Gaming, which are the eras Mint Blockchain is currently experimenting with. We believe this partnership allows both teams to explore these frontiers and experiment with novel NFT applications.
On April 11th, we announced our strategic partnership with DeSui. Together, we’re building solutions to level up your experience in the crypto space and unleash the power of Web3 by abstracting technical complexities and offloading the mental burden.
This partnership also came with a giveaway event to amplify both of our platforms and incent growth.
Followed by another strategic partnership with NewLand, a Web3 social task network. Its one-stop social task platform will amplify Ruby Protocol’s reach and empower us to build an Intent-Centric Chain Abstraction Layer for Web3.
This partnership is the demonstration of our efforts to make $RUBY known to all!
On April 15th, GemX Crypto, a Web3 platform designed to built for mass adoption, providing timely news updates and insights into the latest trends in the crypto world , announced the partnership with us unlocking the potential for increased scalability, interoperability, and privacy-preserving transactions.
On April 19th, we entered a strategic partnership with Bitroot, a Layer 2 scaling solution for Bitcoin to help enable further technological innovations on the Bitcoin.
We design Ruby One as a user-friendly MPC wallet. Its nature postulates partnering with Bitcoin Layer2 projects is crucial. Bitcoin remains the foundational element of the cryptocurrency world, and integrating Layer2 solutions ensures Ruby One offers seamless access to the Bitcoin ecosystem.
In short, Ruby One’s commitment to user-friendliness extends to encompassing all major crypto players, and Bitcoin support is undoubtedly a priority.
On April 26th and 27th, we consecutively announced two strategic partnerships in two different ecosystems — Web3 Gaming and DePin.
MasterPop, a relaxing and enjoyable Match game where players can effortlessly join and match to earn! Together, we’ll enhance Web3 gaming experiences by offering seamless play2earn experience.
And DEKUBE NETWORK who is democratizing AI by building the largest distributed GPU network to empower builders worldwide, and also share the same vision: to make innovation accessible to everyone everywhere.
On April 30th, Ruby Protocol did something we never thought we would : Partner with a meme project and tap into meme culture.
What’s it in for Ruby Protocol and $RUBY?
Meme coins leverage viral marketing strategies and rely on memes, humor, and internet culture to spread awareness rapidly across social media platforms. By tapping into this, we can boost our efforts to reach more.
Talking All Things Ruby — Twitter Space
The relevance of the Twitter space for cryptocurrency should never be underestimated.
Twitter Spaces is particularly popular within the crypto, blockchain, and Web3 groups, which are all quite active on Twitter, and the casual and intimate nature of Spaces can help us create trust and brand affinity with our target audience.
You will only see us more on Twitter space.
Ruby Protocol Stats Live On Dune Analytics
Dune is an open and web-based app that allows anyone to query blockchain data. We decide to use it to create dashboards to provide an overview of what we can and have accomplished with Ruby Protocol
🔗 https://dune.com/rubyprotocol_official/rubyoverview
More to come.
About Us
Ruby Protocol is an Intent-Centric Chain Abstraction Layer for Web3.
We are building an intent-centric, interoperable, and privacy-preserving infrastructure for Web3 future. Our services, including Account Abstraction (AA), Assets Bridge (AB), Access Control (AC) and much more, are designed to accelerate Web3 development and its mass adoption.
We aim to make Web3 seamless and effortless to everyone everywhere.
