On August 31st, Rubic successfully launched the first-on-the-market Rubic Cross Chain Routing solution. This solution allows users to complete cross-chain swaps on more than 7,500 assets between 3 main blockchains: Ethereum, Binance Smart Chain, and Polygon.
Decentralization is revolutionizing the world with its all cool features and Decentralized Finance trends have taken the most advantage of this. There is more than $7 Billion worth of assets Block-chained, according to the DeFi Pulse analytical resource. The potential is exponentially growing and but it has the trouble of being limited to the native blockchains. Rubic is a whole pack of the ecosystem providing on-chain and cross-chain swap types, multichain-bridged Decentralized Finance, Dexes, and much more. Rubic supports more than 7,500 tokens on and across multiple Blockchains like Ethereum, Binance Smart Chain, and Polygon.
It is easy to underestimate the simplicity of this feature for our users; they can now complete swaps between these networks with only a few clicks, and it will take roughly 2 minutes to complete those cross-chain swaps.
Before the launch of the Cross-Chain Routing feature, Rubic announced that users would be able to participate in “staking”:
“Users will be able to participate in cross-chain routing by providing their tokens to the RBC/BRBC/RBC (pos) pools for swaps. The ‘stakers’ will receive a part of the commission in proportion to their share of provided liquidity.”
Just one week after launch, Rubic is ready to share more information with our community, and the rest of the crypto world, about the further development of this feature.
Rubic Cross Chain Routing: Market Size and Business Model
Rubic Cross Chain Routing provides a cryptographic bridge to swap on-and-across 6 main blockchains by providing custom routings to choose from different gas fee channels. Rubic has a huge market size accounting for more than 3 million users worldwide and a trading volume of $816 billion, in the last year alone. There average of 200,000 users weekly on the platform for DEX trades. With the inclusion of DeFi, the number is expected to increase 10 times by 2025.
Rubic Cross Chain Routing “Staking”
During our research, the Rubic development team was trying to find the best solution for our users. Our team believes they have found the best solution, which will allow both Rubic and Rubic’s holders to benefit from this “Liquidity Provision” option.
This solution will not just be “Staking”, as the more correct name for it is “Cross-Chain Liquidity Provision”. This solution is similar to most other liquidity pools, which are being used in projects such as Uniswap, PancakeSwap, and other leading AMM’s.
Users will be able to provide liquidity to Rubic’s liquidity pools with several types of assets on all three currently supported networks: Ethereum, Binance Smart Chain and Polygon. In the first stage of this Liquidity Provision, users will be able to provide liquidity with RBC/BRBC/RBC (pos) in their corresponding networks. At a later date, Rubic plans to allow users to “stake” their liquidity with other assets.
What Are the Benefits for Liquidity Providers?
During and after the launch, lots of users had questions regarding the fees for the completion of cross-chain swaps. To clarify, these fees are 0.3% of the total volume of the swap and they are being taken in the form of RBC tokens from the target network. As an example, if a user executes a cross-chain swap from Ethereum to Binance Smart Chain, the 0.3% fee would be taken in BRBC.
With the implementation of this Cross-Chain Liquidity Provision, Rubic will share 0.25% of value from every completed swap using Rubic Cross-Chain Routing among all of the Liquidity Providers.
This means that Rubic will only take 0.05% of the fee amount for the development of the project and will share the other 0.25% proportionally among all of the participants. The amount of revenue generated for liquidity providers on each swap could be changed in the future with the company’s support of a governance vote on fee percentages and how they are awarded.
The providers will be able to receive a payout of RBC/BRBC/RBC (pos) for providing liquidity, depending on the network where they are providing the liquidity.
In the first version of our decentralized liquidity pools, the pools for these tokens will be limited, but will be expanded upon with the growth and increasing popularity of our Cross-Chain Routing swaps. The estimated size of the first Decentralized Liquidity Pool will be around 1 million RBC tokens, across all 3 networks. However, we may make changes to this, with final details about the number of tokens able to be pooled being shared later in the month of September.
Also, Rubic will provide a special reward for all of the participants in the Liquidity Provision feature. More details about this additional reward will be shared later this month.
Rubic Cross-Chain Routing Progress
With the launch of Phase 1 of Rubic Cross-Chain Routing, the Rubic development team continues to work on improving and expanding this groundbreaking feature. Over the next week, Rubic will start testing this new Liquidity Provision feature and will inform our community in our weekly updates regarding the status of our developments.
We have additional audits and other news coming as well regarding these developments. Stay tuned for more news on Rubic’s Cross-Chain Routing!
Rubic has a unique way of defining and providing solutions to major problems like cross-chain swap and handling liquidity on existing AMMs. The custom routing solution shrugs off the trouble to be limited to the native blockchain and provides a custom route to swap with minimum gas fees. Empowering liquidity and cross-chain swaps on their smart contracts make trader Rubic their most feasible and favorite option. Rubic has the best security to offer its users by not posting the codes publicly on GitHub and auditing the whole ecosystem internally.
Thank you for your continued and much-appreciated support!
Rubric is backed and developed by a team of 17 experienced developers who have a badge of contributing to the top Cryptocurrency projects like Binance, TRON, NEO, and others. The team has been involved in cryptocurrency since 2017 and they successfully launched this magical idea of excellent use case, Rubic, on September 22, 2020.
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