Ruby Protocol Monthly Review — November 2023
For Ruby Protocol, November was a month of steady growth, which witnessed how we evolved from a freshly designed decentralized application to a community of more than 85,000 on-chain addresses. It delighted everyone’s heart when we continuously hit new records.
November also saw some of the most prominent crypto pundits fall from their thrones, but the general crypto market remained intact. Mainly because the underlying infrastructure is already there, and the code will keep running regardless of the name and brand.
One of the most exciting news has to go to the amount of circulating bitcoin that is in profit, hitting a high of over 83% this week, the highest level since November 2021, when the world’s largest cryptocurrency by market capitalization reached its all-time high. The multi-year high was also confirmed by Glassnode data as well.
The crypto market is always a mixed bag of conflicting news. Anyone on either end of the news spectrum will defend their realities to the fullest, but let’s not forget the world is not cut and dry. If so, why even bother?
We must continue to build it.
Mission Accomplished, More to Come
We are thrilled to announce Ruby Protocol has already completed all milestones in our previous roadmap. Before the project upgrade, we set out to build what we believed was the most important aspect of crypto: enforcing private value transfer. With that belief, we developed Ruby Connect, which was used by many in crypto.
As the market and crypto users evolved, we strongly felt the need to pivot to a new position: building an Intent-Centric Account and access Layer for Web3 and building an intent-centric, interoperable, and privacy-preserving infrastructure for Web3’s future. We believe this reposition will equip us with a proper mindset and technical solutions to serve the crypto communities in the following market cycle.
In November, we have accomplished the three significant milestones:
Ruby One — Account Abstraction (AA)
Ruby Connect — Assets Bridge (AB)
Ruby SDK — Access Control (AC)
However, it does not mean we can rest on the pedestal. In the next development stage, we will face more small but head-scratching challenges in the UI and UX departments, and we must overcome them to stay aligned with our mission. With that being said, most of our work will be done behind the scenes, with periodical product display.
In December, we will turn to our community for input and formulate a new roadmap. Please stay tuned.
The Future Is Bright
Even as of early 2023, some emerging generative AI systems had reached more than 100 million users. Advanced chatbots, virtual assistants, and language translation tools are examples of generative AI systems in widespread use.
While we are approaching the end of 2023, the number of AI tools developed daily is staggering and unable to be meaningfully tracked. Some sources suggest that AI is gaining more attention and investment compared to Web3 and cryptocurrencies. For instance, a New York Times technology columnist mentioned, “In Silicon Valley, crypto and the metaverse are out.”
However, if web3 communities can leverage this unstoppable trend to onboard the next billion users to the decentralized world, then why not?
As far as we are concerned, AI can significantly contribute to the intent-centric design of crypto and Web3 in several ways. One key area is the enhancement of smart contracts. By integrating advanced decision-making capabilities, AI can enable more intelligent and dynamic transactions on decentralized platforms built on blockchain technology.
The Numbers Are Good
Our November user acquisition and app growth metrics exceeded expectations, indicating a stunning rise in popularity and engagement in Ruby One, our MPC wallet.
The positive momentum attests to the efficacy of our techniques in reaching and engaging our target audience, especially when we launched the referral program. And now, with a large enough user base, we are delighted to announce that we are moving on to the next step of our journey.
In the next stage, we are committed to enhancing the user experience to ensure it matches smoothly with our growing community and their preferences. We will also be sensitive to the valuable feedback from our user base and do what we can to inspire open conversation.
Before we delve into specific actions, we want to share the Growth Track of Ruby One, from its launch to forming a considerable community.
50,000+ Email sign-ups⤵
53,000+ RubyOne addresses⤵
160,000+ Email sign-ups⤵
200,000+ Email Sign-ups⤵
85,000+ RubyOne addresses ⤵
2.3M Historical Page Views⤵
With a lot more coming!!
A Seat At The Table
We actively participated in numerous Twitter Spaces in November to increase our exposure in the tech community.
These lively discussions have enabled us to delve into the latest web3 developments, solve critical concerns, and share thoughts on efficient user-onboarding tactics.
We demonstrate our knowledge and position our project as a trailblazer in navigating the developing terrain of decentralized technology by engaging in these debates. These experiences are also invaluable for creating meaningful contacts, exchanging ideas, and demonstrating our commitment to promoting the broader conversation about web3 adoption.
RubyOne Bug Bounty Program
Help Us Debug & Claim Your $RUBY
Ruby One Bug Bounty Program is designed in a way that respects your time and effort and allows our community to earn $RUBY rewards for contributing to the success of future Ruby Protocol.
With your help and participation in this initiative, we believe Ruby Protocol will soon upgrade its solution to meet the growing needs of the crypto space and eventually fulfill our vision.
You can help us and earn $RUBY reward in the following ways:
⭐Identifying and Reporting Bugs
⭐Providing Meaningful Feedback on our PoC UI/UX Design
⭐Promoting Ruby Protocol’s Proof of Concept via all social channels
Partnership Building
While we allocated most of our resources to product building and user acquisition in November, expanding Ruby’s partner circle remains ongoing.
GARI is a leading player in the web3 social token sphere, which operates a crypto-driven creator economy on Chingari. They have achieved remarkable milestones with 200M+ app downloads, 5M+ DAU, 40M+ MAU, and 3M+ on-chain wallets.
It’s hard not to imagine the users we’ll attract together.
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.
