Ruby Protocol Monthly Review — March 2024
Greetings, Ruby Protocol community!
During March, the broader cryptocurrency market exhibited a predominantly bullish trend, with over $250 billion in capital injected into the global crypto market cap. And venture capital funding into crypto jumped by 52.5% month-on-month in March, with crypto projects getting $1.16 billion, mostly in infrastructure and decentralized finance projects.
All of the above is telling us one thing: Crypto is back!
March was for sure a busy month for the Ruby Protocol team, filled with exciting developments that propelled us towards our next major milestone.
Here’s a recap of our achievements:
Expanding Our Ecosystem
- We kicked off the month by welcoming Karmaverse, a leading Metaverse and GameFi project, to our ever-growing partnership ecosystem. This collaboration signifies our commitment to cater to the burgeoning gaming sector within Web3.
- Another significant partnership was formed with SaaSGo (formerly Encentive.io), the world’s first Fiat-DeFi integrated Web3 SaaS platform. This partnership enhances our solutions and fosters the democratization of Web3 development.
By the end of March, Ruby Protocol has established a partner ecosystem of more than 40 Web3 projects.
It means Ruby Protocol might be one of the most connected projects in the Account and Chain Abstraction space. These important partnerships are the backbone of our growth and technical development forward because when resources are shared, talents are assembled, and ideas are discussed, we are more powerful than ever.
Development Updates and Transparency
- On March 14th, we provided a mid-month development update. This update focused on Ruby One Wallet functionalities, social recovery optimization, and backend software upgrades.
- Most importantly, the $RUBY Exchange Listing(s) Update. We acknowledged the current market boom, which is causing a surge in listing applications and ultimately leading to highly competitive exchange slots. We urged the community for patience, assuring them the wait would be well worth it.
Improving User Experience
- On March 18th, a critical update for the Ruby One wallet was released. This update allows users to directly sponge the wallet creation record and restart the setup process.
- This functionality proves valuable for early-stage users who previously encountered difficulties restoring their Ruby One wallet from Google Drive.
Important Announcements on Ruby Protocol Twitter/X
- This is this month’s most significant update regarding project development, operation status, and transparency.
- In this announcement, we detailed our frustrating experience with Twitter/X account support in a critical announcement. The issue remained unresolved despite persistent efforts (over 200 tickets, emails, requests, and messages).
- Consequently, we officially migrated to a new Twitter account, @RubyLabs_xyz. This account serves as our primary channel for all future updates and announcements. Please follow this new account to stay connected.
Community Growth
- We’re thrilled to announce the return of the RubyOne Referral Program! This program offers exciting opportunities for Web3 communities to earn $RUBY rewards while helping us expand the Ruby One user base.
- As of this writing, Ruby One boasts over 334,931 email sign-ups and a thriving community of 112,737 active addresses, with those numbers continuing to grow steadily.
Awareness Building & Why Intent-Centricity Needs AI
While intent-centricity might be a cool phrase, it is by no means an easy task. When we say something is intent-centric, we mean a new approach focusing on what users want to achieve rather than the explanation and steps.
In traditional crypto, users need to know the specific steps to execute a transaction, like specifying every trade on a swap. Intent-centric flips this by letting users express their goals (like “buy X amount of ETH”) and leaving the technical details to be handled by others or the software.
Here are our thoughts on Intent-Centricity and AI 👇
Looking Forward
Although we understand your eagerness for the next big move ($RUBY Listing), please remain patient. We’re on the right track.
Also, we are very excited to share more details about our long-planned project upgrade soon.
Stay tuned for future announcements!
About Us
Ruby Protocol is an Intent-Centric Account & Access 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.
