RubyProtocol Strategic Partnership With Dojima Network.

Cross-chain technology has seen rapid development in recent years as an essential technology to realize interoperability, interconnection, and value transfer. However, cross-chain technology still faces many risks that hinder its practical application.

Ruby Protocol utilizes Functional Encryption (FE), a leading-edge cryptographic solution enabling users to encrypt sensitive information on-chain. This solution is well-positioned to protect crypto users in day-to-day operations.

Crypto space already exists in different ecosystems, requiring them to be widely compatible. The services of Ruby Protocol can coexist with other blockchains, including Polkadot, Ethereum, BNB Chain, Solana, Avalanche, Polygon, etc., making us a perfect privacy and data management solution for cross-chain projects.

They are super excited about working with Dojima Network because this will be a reciprocal partnership that makes both projects more secure and forms an experimental space where they can explore different options and address future risks.

About Dojima Network

Dojima Network a blockchain technology project that aims to develop a cross-chain infrastructure that will enable interoperability between different blockchains. Combination with a middle-ground called a unity chain that will allow developers & users from independent blockchains to meet and interact.

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About Ruby Protocol

Ruby Protocol a cross-chain, privacy-first infrastructure, powered by Polkadot. The layer-1 protocol utilizes Functional Encryption (FE) cryptography. Allows users to adopt a modular approach to data privacy and ownership. This solution allow users to encrypt sensitive information on-chain, can only be decrypted by holders of an approved private key.

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Ruby ensures that privacy is maintained where necessary within the Web3 space with its privacy-as-a-service platform.

ABOUT THE PARTNERSHIP

As part of this partnership, Dojima Network will work with Ruby Protocol to create and integrate a private data management framework that proposes and implements a privacy layer that interacts with the multi-chain ecosystem to keep users safe from malicious actors.

This strategic alliance, they believe, positions the Dojima Network and Ruby Protocol as significant drivers of the already horizon self-sovereign data economy. Both teams believe that individual data monetization must be accelerated in order to reclaim data and privacy control in the web3 ecosystem.

More opportunities for integration are expected as the partnership grows stronger, as both infrastructures are built with a modular, flexible, and synergistic design.

They are very excited to collaborate with Ruby Protocol because it will be a mutually beneficial partnership that will make both projects more secure and establish an experimental space in which they can explore different options and address future risks.

They’re looking forward to getting to know the Ruby community and welcoming them to the Dojima family.

ABOUT RUBY PROTOCOL

Ruby Protocol is a Layer 1 privacy blockchain that enables a private data management framework for Web 3.0. And also proposes and implements a privacy layer for interacting with the multi-chain ecosystem. It is a fine-grained private data access-control gateway across different entities. And also organizations in the decentralized and traditional financial world.

Ruby’s modular approach to data sharing and privacy protection makes it the ideal building block for privacy-compatible smart contract DApps. While also acting as a privacy layer for protocols and DApps.

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ABOUT DOJIMA NETWORK

Dojima network is a cross-chain infrastructure that enables the seamless transfer of liquidity and data between different blockchains.

Dojima Network acts as a cross-chain bridge or a link between multiple layer-1 and layer-2 blockchains. As a result, developers can create cross-chain applications on this platform. Dojima Network also comes with a built-in cross-chain wallet.

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About Ruby Protocol

Ruby Protocol a cross-chain, privacy-first infrastructure, powered by Polkadot. The layer-1 protocol utilizes FE cryptography. Allows users to adopt a modular approach to data privacy and ownership. This novel solution will allow users to encrypt sensitive information on-chain. Can only be decrypt by holders of an approve private key.

The Ruby’s FE Substrate-pallet will serve as the building blocks for privacy-first smart contract DApps building on native Ruby Chain. While also acting as a privacy layer for Parachains and Web3 DApps across the Polkadot ecosystem.

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About NFT3

NFT3 the First Unified Decentralized Identity and Credit Network for Web3 and Your Portal to the Metaverse.

The NFT3s will become a direct monetization path for individuals to associate value on their terms with various aspects of their data journeys through life with different projects, individuals, social networks, companies, and institutions.

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Onfinality partnership with Ruby Protocol, a cross-chain, privacy-first infrastructure, powered by Polkadot.

OnFinality, Polkadot’s leading blockchain infrastructure provider, adds Ruby Network Spec to its marketplace supporting over 60 networks.

What is Ruby Protocol?

Ruby’s layer-1 protocol utilises 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.

Benefits of deploying Ruby nodes through OnFinality

• Easy — Spin up Dedicated Nodes easily and quickly via our one-click node deployment service without worrying about setting up hardware from scratch
• Scalable — Upsize and downsize your nodes easily in a few clicks!
• Cost-Efficient — Pay for only what you need. You no longer have to buy or set up your own hardware or make tools to monitor your node’s health and performance
• Visibility — Simply connect to our Node Metric Endpoint for automated monitoring and alerts on your node’s health

For all the information about how to jumpstart using OnFinality and start running Ruby nodes, you can follow this documentation.

​About Ruby Protocol

Ruby Protocol a cross-chain, privacy-first infrastructure, powered by Polkadot. Layer-1 protocol utilises Functional Encryption (FE) cryptography. 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.

Website | Twitter |

About OnFinality

OnFinality a SaaS platform that provides infrastructure & developer tools saves developers hours & allows teams to grow with confidence. Our mission is to help blockchain and dApp developers build the decentralized future faster.

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Maintaining generous but sustainable yield farming rewards is critical to attracting liquidity and users to new DeFi projects and helps to ensure their long-term success. While the token emission model has been defined in advance, distribution parameters may be adjusted by the Ruby DAO if required, in response to evolving market and ecosystem conditions—helping to ensure that both LP earnings and project runway are optimized.

Ruby’s aim is to distribute 100 million RUBY tokens as liquidity rewards over five years while remaining profitable for yield farmers.

Rewards emissions are initially set at 40 million RUBY per year. It also reduces by a third every subsequent year and by around 69% in the final year:

• Year 1: 40,000,000 RUBY (3,333,333.33 RUBY per month)
• Year 2: 26,666,666.67 RUBY (2,222,222.22 RUBY per month)
• Year 3: 17,777,777.78 RUBY (1,481,481.48 RUBY per month)
• Year 4: 11,851,851.85 RUBY (987,654.32 RUBY per month)
• Year 5: 3,703,703.70 RUBY (306,172.84 RUBY per month)

However, in order to avoid the problems of rewards being too high or too low due to the inflexibility of a fixed model, the Ruby DAO will be able to make periodic adjustments to emissions, which may be informed by multiple factors including the market price of RUBY, the APYs available elsewhere in the DeFi space and the overall burn rate of the rewards program.

The rewards contract has a built-in time lock, and any updates will require 24 hours to activate, ensuring there is enough time to notify the community and for liquidity providers to react before changes take effect. Ruby DAO, the community vote directly on whether the rewards distribution adjusts, and if so, how, as well as other ecosystem decisions.

$RUBY Tokenomics At-A-Glance

• Total supply: 200 million RUBY.
• Initial circulating supply: 2.871 million RUBY (1.435%).
• Liquidity mining rewards: 100 million RUBY tokens (50%) over five years.
• USDT/USDC/USDP/Dai StableSwap 4Pool.
• Single-sided RUBY staking.
• 0.3% trading fees distributed to LPs (0.25%), RUBY stakers (0.04%), and burned (0.01%).
• Gemstone NFT user profile identifiers.
• NFT-permissioned rewards
  • Trading fee reductions.
  • LP yield boosts (coming soon).
  • Lower LP early-exit penalties (coming soon).
• Reward parameters progressively are managed by the Ruby DAO.

Ruby Exchange has opted for a transparent tokenomics model. It also offers the opportunity for the DAO to update LP rewards according to changing market conditions and TVL. Avoiding the shortcomings of a completely fixed emissions schedule.

ABOUT Ruby Exchange
Ruby Exchange is a decentralized, non-custodial automated market maker (AMM) that allows users to trade with no gas fees on the SKALE Network’s Europa Chain. The protocol employs a Dual-DEX model. Both StableSwap 4Pool and an XY=K algorithm. Linked together using Ruby’s Intelligent Trade Router for optimal order execution and low slippage swaps. Financial NFTs, build into the ecosystem to provide a variety of user-specific benefits. It includes additional yield on LP positions or reductions in trading fees.

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RESOURCES
RUBY ANNOUNCEMENT

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