Ruby Protocol Monthly Review — February 2023

Ruby Protocol
5 min readMar 1


Welcome back to Ruby Protocol.

February is a month of recovery for the crypto space. Finally, funding was accelerated as bitcoin’s price continued to rise from the start of 2023. Bitcoin, arguably the crypto market index, has been in recovery mode so far this year after its 64% plunge in 2022.

Some even believe that bitcoin’s winter is over. At the same time, weakness in the US dollar as the Federal Reserve appears closer to pausing rate hikes has supported price gains for bitcoin and other cryptocurrencies.

For Ruby Protocol, however, February may have seen the greatest growth surge ever, which we attribute to the Ruby Protocol principles of privacy, access control, and decentralization. If regulators such as the SEC severely restrict centralized institutions’ staking services in the future, a larger market share will naturally fall to the decentralized world.

We believe this is the right mindset with which we continue to build this project. This is not strategic planning or some hot-in-trend go-to-market strategies. Instead, Ruby Protocol is positioned as a project that builds privacy and access control, which is a timeless and antifragile ideal to us.

Let’s keep building.

Ruby Connect Expands to Arbitrum Network

To bring our vision to fruition, we have published many in-depth articles on privacy, Web3, and cryptography, and recently, we announced the launch of Ruby Connect. Users can now use Ruby Protocol to enforce access control and privacy across different blockchains.

And in February, we brought our solution to Arbitrum, a layer-2 functionality that seeks to solve the congestion that the Ethereum network has been experiencing by improving how smart contracts are validated. Arbitrum has drawn praise for its fast transaction speeds, robust security, and dynamic applications that bring new solutions to the world of decentralized finance.

A good vision is not enough. It must be combined with great ventures.

And it is not enough to stare up the steps; we must step up the stairs.

We must work with and learn from the market to realize our Web3 vision in this super-connected space. After all, no one standing still can triumph, especially in today’s technical landscape. We believe success is more than building a solid product. It now means doing outreach programs, connecting with different partners, and producing synergies.

February Growth with PrivacyMayday NFT

Those who follow us along the way know that privacy awareness is one of the most critical aspects we focus on while building Ruby Protocol. After all, If you don’t understand it, you cannot solve it. If you can solve it, you are forfeiting it.

Starting in February, we launched a series of awareness and growth events to shine a light on the current state of our everyday privacy issues. This is why we worked with Quest3, a Web3 quest and event platform where users can earn tokens and NFT badges by participating in quests and events, to give away PrivacyMayday NFTs to alert people of the pressing privacy issues and growing data control demands.

As the name indicates, we intend to keep sounding the emergency procedure word to the world to bring as much awareness as possible to privacy.

February Growth From Crypto Love

Working with CryptoTech DAO, a fast-growing crypto DAO, we launched a Privacy Contributor Giveaway Program to give back to those who show us support along the way. They are the true hero of privacy.

With more than 1,000,000 entries, February saw tremendous growth in all our channels and, most importantly, in Ruby Connect.

February Growth by Ruby Connect

Feb 3rd marked the very first month since the launch of Ruby Connect.

For the uninitiated, Ruby Connect demonstrates how our solutions can be used in real-world environments to assist with the growing data management needs. We believe that our distinct approach to data needs will prompt users to reconsider data and data management.

📚 Check our 👉 Project Wiki for more details.

💻 Or experience 👉 Ruby Connect now.

Every month, we would update our communities on how fast and steadily Ruby Connect is growing in different metrics. Needless to say, seeing how well our communities and the market receive Ruby Connect is a blast.

According to on-chain statistics we compiled at the time of this writing

  • Ruby Accounts grew from merely 229 to now 4183
  • Active Addresses increased from 173 to 3897
  • Total Volume has exceeded $9,300,000
  • Total Deposit reached over $1,170,000
  • With the total transactions growing to 55,000

Proof-of-Progress 👇

February Awareness Growth

Good tradition is worth preserving.

Ruby Protocol enjoys a good name in this space because it always remains and will remain one of our top priorities to push privacy and data awareness. In addition, it helps our audiences understand our philosophy and products; in the bigger picture, such efforts will benefit everyone.

Every month, we tried different ways and worked with various parties to push privacy and data awareness.

In #Privacy Is Timeless & Trend Agnostic, we argue that trends can be dangerous and fleeting. Building something over trends is nothing different from standing over quicksand, which usually means a waste of resources and talents. In the worst-case scenario, it means crashing the market, losing market share, and setting an industry back many years.

An honest Web3 builder must keep reminding himself of what is timeless and trend agnostic. And privacy is, in crypto and web3.

In Decentralization Will Prevail, we shared our observation that it has been evident, from a pattern across financial regulators and governments, that the subtext in the administration’s policy toward crypto is that it should be choked off.

And it’s now clear and in the interests of regulators to interact with banks and traditional institutions because they are centralized and easy to control. However, you don’t have to read between the lines to know that the absolute risk the crypto movement poses is that this space is now busy creating a system outside of governmental control.

We believe decentralization will prevail because If regulators such as the SEC severely restrict centralized institutions’ staking services in the future, a larger market share will naturally fall to the decentralized world.

We believe decentralization will prevail because decentralization puts the actual owners in control, and deep down, people crave those responsibilities and meaning in life.

About Us

Ruby Protocol is a private data management framework for Web 3.0 that proposes and implements a privacy layer interacting with the multi-chain ecosystem. It is a fine-grained private data access-control gateway across different entities and organizations in the decentralized and traditional financial world.


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Ruby Protocol

Building a programmable privacy & access control middleware framework encrypted with zero-knowledge proofs (zkp) algorithms.