Ruby Protocol Monthly Review — July 2024
Dear Ruby Protocol Community,
As we look back on the past month, we are pleased to share the significant developments within the crypto market and the Ruby Protocol ecosystem. This review highlights what we achieved in July 2024, underscoring our commitment to innovation and growth.
Market Recap
The month of July commenced with a slow start in the crypto market; however, it gradually gained momentum as governmental bodies began to recognize the potential of cryptocurrency. A pivotal event was the Bitcoin 2024 Conference, which drew reactions from industry experts regarding presidential candidate Donald Trump’s pro-crypto statements.
Trump declared his intention to make the United States the “crypto capital of the planet,” end the so-called war on crypto, and dismiss SEC Chair Gary Gensler if he is elected in November. He also proposed converting any Bitcoin held by the U.S. government into a strategic reserve.
This bold stance was echoed by other notable speakers, including independent candidate Robert F. Kennedy Jr. and Wyoming Senator Cynthia Lummis, who discussed the implementation of a strategic Bitcoin reserve where the Treasury would acquire Bitcoin equivalent to its gold reserves. These endorsements have injected optimism into the crypto community, contributing to a favorable market trend throughout July.
Ruby Protocol Highlights
Ruby Points Campaign
The Ruby Points campaign has continued to be a tremendous success.
We commenced July with an additional push to this campaign, which has now seen participation from over 30,000 unique addresses. This level of engagement not only signifies the growing interest in Ruby Protocol but also strengthens our community’s foundation.
Integration with the TON Ecosystem
In response to the recent surge of interest in the TON ecosystem, we have received numerous inquiries from our community regarding potential integration.
We are proud to say that, according to our new roadmap, which we have laid out months ago, we will begin integration with TON in the fourth quarter of 2024.
This strategic move aims to expand the ERC-4377 ecosystems and develop the Ruby-TON MiniApp Platform. This platform is designed to streamline the decentralized application (dApp) development process, enhancing the capabilities and reach of our ecosystem.
Expansion of the Ruby Protocol Ecosystem
Our ecosystem continues to grow through strategic partnerships that enhance our capabilities and broaden our reach.
Partnership with SFT Protocol
We are delighted to announce our latest strategic partnership with SFT Protocol. Known as a ‘Chain of Chains,’ SFT Protocol bridges physical infrastructure with Web3, focusing on a decentralized physical infrastructure network (DePIN) platform that integrates storage, computing, edge CDN, and beyond. This partnership aligns with Ruby Protocol’s mission to drive innovation and expand our ecosystem’s capabilities.
Collaboration with MemeStore
In the realm of meme culture, we have partnered with MemeStore. While memecoins may not always be regarded as valuable investments by the broader financial community, their real significance lies in their ability to attract attention to the crypto world. By partnering with MemeStore, Ruby Protocol aims to capture the interest of the non-crypto-native audience, broadening our reach and highlighting our unique offerings.
Important Update on $RUBY Airdrop
We informed our community that the planned $RUBY airdrop distribution is currently on hold.
This decision is part of our ongoing efforts to collaborate with our centralized exchange partners to enhance the Ruby Protocol market. We appreciate your patience and understanding as we work towards creating a more robust and dynamic market for $RUBY. Further updates will be provided as they become available.
Growth of RubyOne dApp
The RubyOne dApp continues its impressive trajectory, now boasting 362,077 email sign-ups and 135,391 active addresses. This growth reflects the significant value and utility our platform provides to users, reinforcing our position as a leading player in the blockchain space.
Finally, we want to extend our heartfelt gratitude to the Ruby Protocol community for your unwavering support. Your engagement and enthusiasm are the driving forces behind our continued success and innovation. Together, we will forge ahead, reaching new heights and expanding our ecosystem.
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.
