Ruby Protocol Monthly / Yearly Review — December & 2023 & 2024
To Ruby Protocol communities,
This will be our last monthly review in 2023. We would like to take this opportunity to write a completely different review to mark the end of it and welcome a brand new year.
We believe this change of formality is in line with our unique situation as a community. Ruby Protocol has completed all of our previous milestones and now are enroute to a brand new chapter.
Without a doubt, 2024 will be a challenging but rewarding year for us, particularly with the anticipated product launches and other technological integrations.
Let’s close it off and give it one last farewell before we set out to face more challenges.
Crypto Resiliency
2023 was the year of cryptocurrency’s tenacity. To those outside of crypto communities, many notable crypto individuals are now essentially synonymous with fraud and convictions: Sam Bankman-Fried, Changpeng Zhao, Alex Mashinsky, and many more.
Despite the negative headlines, the nascent industry has had several significant successes. Bitcoin, the crypto’s bellwether asset, has gained 160% this year. Two high-profile court cases ruled in favor of the industry. And, in January, a long-awaited clearance for a mainstream investment product is expected, potentially flooding the market with new investors. Throughout the year, the fast-developing layer2 space introduced us to a new wave of affordable block space and will potentially bring crypto applications to a new level of user-friendliness.
Led by Bitcoin and Ethereum, we believe crypto communities have the potential to upend established dynamics of the existing financial ecosystem and level the playing field for individuals, despite it is still plagued by bad names and government wariness, which can be partly attributed to the fear of the unknown and innovations and partly to the lack of transparency about its ecosystem.
However, let’s keep in mind that those who triumph are always the reasonable optimists who believe events can be surprising, challenging, and disappointing but know that things will likely be good over time.
Because, at the end of the day, we all want it to be better.
Ruby Resiliency
Crypto is a space where nobody can triumph standing still. And those who don’t know this fail miserably into oblivion. It goes the same with Ruby Protocol.
The people who have been following us know that Ruby Protocol has reinvented itself many times to adapt to the changing market. We have been developing solution after solution to tackle the challenges associated with Web3, privacy, and access control. To say the least, this has been an invaluable learning experience.
Looking back, it was also a year of zig-and-zag to get where we are now: a community of more than 100,000 active users, even more followers, and a complete solution set that empowers users in and out of the crypto space.
Whether it was a bull or bear market, Ruby Protocol shows its resilience by focusing on delivering the fundamental value of empowering people in and out of the Web3 world by offering them solid solutions on a well-designed technological infrastructure.
Additionally, we are very proud to say we have tried everything within our capabilities to adapt strategies, manage risk, and maintain discipline and consistency in our daily operations.
Our current healthy runway can explain everything.
What We Have Done Together
Some of the significant accomplishments in 2023 are:
In January, we launched our POC — Ruby Connect, our way of addressing data needs and how we could propel users to rethink data and data management. It focused on developing technical demonstrations to showcase how our solutions can be utilized in real-world environments to help expand data management needs.
In February, we brought Ruby Connect to multiple ecosystems, including Arbitrum, Optimism, and many other spaces, which was followed by numerous partnerships. Success to us is more than building a solid product. It is more about doing outreach programs, connecting with partners, and producing synergies.
In March, we unveiled Ruby V2, bringing zero-knowledge proof (zkp) algorithms into full play to allow our users to interact with digital services while protecting their privacy. Also, the March Ruby Connect Dapp Status Report detailed the user stats of our first launched Dapp.
April saw us move towards Account Abstraction and leveraged Multi-Party Computation (MPC) to build a solid Account Abstraction wallet system. All of it prepared us to be technologically equipped to move to the next stage.
May was a month of community expansion, which saw more Ruby and privacy advocates joining us. We had the privilege of working with an ambassador group of 19 outstanding volunteers to create high-quality and engaging content on Ruby’s initiatives and privacy. Also, with our partnership with Mises Browser, we allowed more than 100,000 users who downloaded the app to Mint to redeem and Transfer value in a truly private manner.
June 2023 was a huge springboard month for Ruby Protocol in terms of expanding our partner space. The strategic partnerships we have secured were all official agreements between other parties and us to work together to provide the best-in-class services for crypto users and the entrants from the old web2 world.
July witnessed our most important launch of all time — Ruby One. This MPC wallet should make your crypto life never easier. Ruby One enabled you to forget about the seed phase, private keys, and the random string of characters. It is a hybrid solution in the form of cryptography called MPC, or multi-party computation, and many web3 and crypto native technologies.
In August, we partnered with Dmail Network, a Web3 multi-chain infrastructure based on mail notification designed to provide a secure, private, and efficient cross-chain encrypted communication protocol. And we took action to initiate a number of technical developments based on Ethereum’s ERC-4337 standard.
In September, we decided to level up Ruby One to V2 after a 2-month test run, and the V2 version comes with a more comprehensive user guide. One of the significant developments was introducing our communities to the brand new Ruby Protocol, which is now positioned as an Intent-Centric Account & Access Layer for Web3.
October 2023 saw a massive influx of users and attention, also bringing in many obstacles posted by the incumbent systems and challenges to Ruby One users’ experiences. The highlight of October was undoubtedly the successful launch of the Ruby One Referral Program. This program aimed to incentivize users and spread awareness of Ruby Protocol and our solutions.
In December, we finally completed all of our previous milestones.
In the next development stage, we decided to face more small but head-scratching challenges in the UI and UX departments.
That said, most of our work will be done behind the scenes, with periodic product updates. Additionally, a new roadmap will be designed with the help of our communities.
The Numbers We Pulled Together
Regarding Ruby Connect, at the end of March 2023.
Ruby Accounts grew to 4,205. The Active Addresses reached 4,021, with the total volume exceeding $2,797,000. The total deposit reached over $1,520,000, and the total transactions at that time were around 13,793. The total deposits made on Ruby Connect were over 4,388.
And with Ruby One. Our Dapp has interacted with around 91,100 participating addresses and processed more than 307,000 email sign-ups. Now, the Ruby One user base has around 97,706 active Ruby One addresses.
And the Ruby One Referral Campaign generated 2.5 million+ historical page views, which, as a result, raised our Galxe follower base to 70,000+.
2024 Outlook
Simple!!!
TGE and build Ruby products into mega apps.
We will do everything within our will to achieve it.
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.
