Ruby Protocol — Strategic Partnership With Vinci Protocol
To all Rubies,
According to the five elements theory, everything in nature is made up of five elements: Earth, Water, Fire, Air, and Space. and now we need to add Data to this list.
Data is ubiquitous. It is anything, especially facts or numbers, collected to be examined, considered, and used to help our decision-making. Blockchain, crypto, and their variants are not at all exceptions.
As a project grounded in crypto space and thinking from the first principles, we know data services are essential to the blockchain-backed decentralized applications trying to solve many problems associated with the consumer apps we have today.
Our latest strategic partner Vinci Protocol is an NFT-backed DeFi protocol designed to boost Liquidity with a lending platform and simultaneously hedge Volatility with NFT-backed derivative products. It aims to deliver generalized solutions for NFT lending and perpetual trading.
Looking at their services such as One Collection One Pool, Permissionless Collection Listing, Isolated Lending Pool Mechanism, and the non-custodial and security features, Vinci Protocol is heavily relying on collecting crypto intelligence and understanding them.
More importantly, it needs a private data management framework that proposes and implements a privacy layer interacting with the multi-chain ecosystem to ensure its users are safe from malicious actors.
The current NFT markets are already existing in different ecosystems, requiring Vinci Protocol to be widely compatible too. The services of Ruby Protocol can coexist with different blockchains, including Polkadot, Ethereum, BNB Chain, Solana, Avalanche, Polygon, etc. It is the ultimate solution to access control with privacy.
About Us
Ruby Protocol is a cross-chain, privacy-first infrastructure, powered by Polkadot. Our layer-1 protocol utilizes Functional Encryption (FE) cryptography, which allows users to adopt a modular approach to data privacy and ownership. This novel solution will allow users to encrypt sensitive information on-chain, which can only be decrypted by holders of an approved private key.
Ruby’s FE Substrate-pallet will serve as the building blocks for privacy-first smart contract DApps building on the native Ruby Chain, while also acting as a privacy layer for Parachains and Web3 DApps across the Polkadot ecosystem.
