Technical Grant Application - Rubic Cross-Chain Swap Aggregator and Tools to Enable it for dApps

#1

Application Introduction

This proposal is prepared for getting integration of Conlux into Rubic, which is a “One-click” Cross-Chain Swap Protocol and tools to enable it for apps. Users of ours can trade over 15,500+ tokens, across 40 blockchains, through the aggregation of over 90+ DEXs, different bridges and cross-chain providers.

Description

Rubic includes On-Chain & Cross-Chain swaps for Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Moonriver, Bitcoin, Solana, NEAR, Telos, Optimism, Celo, Fuse, OKExChain, Gnosis (xDAI), Moonbeam, Cronos, Aurora, Boba Network, Boba BNB, Boba Avalanche, Bitcoin, TRON, Kava, Oasis, Metis, Syscoin, Velas, Klaytn, Ripple, ICP, Cardano, Dogecoin, Polkadot, Litecoin, Monero, Algorand, Tezos, Dash, Zilliqa; with seamless fiat on-ramps and more. Rubic provides the tools for crypto projects to become fully interoperable between blockchains, with an easy-to-integrate widget and a fully-customizable SDK. Rubic is already servicing more than 130 projects. Installation of Rubic’s SDK or Widget unlocks DeFi for any project giving its own cross chain interoperability, with access to over 15,500+ tokens across 40 blockchains, all available right on your website or inside your app.

Motivation

At Rubic, we know that cross-chain technology is not just a trend, but a necessity, as liquidity is distributed over different chains. We also understand that this infrastructure is lacking in the blockchain space, making development time-consuming and expensive for developers who want to make their dApps interoperable across chains. That’s why Rubic’s solution is so important: we help developers to easily and quickly create cross-chain dApps, regardless of what their function is.

Goals

DeFi is a complex subject, sometimes it can be complicated for experienced user to understand all features provided by service, not even speaking about new comer. Our main goal is to allow users to swap assets across multiple blockchains and DEXs with just a single click. Using our platform audience can swap any token for any other on and between any of the 40 supported networks - in just a one simple click of a button. In addition, we offer developer tools that enable platforms to fast and easy build omnichain dApps.

Team

  • Vladimir Tikhomirov - https://www.linkedin.com/in/vtikhomirov/
    Highly experienced and visionary founder, with a PhD in Computer Science and a successful track record as a software industry executive with over 10 years of experience, Vladimir brings a wealth of knowledge and expertise to the team. He is a seasoned entrepreneur, having founded the popular smart contract platform MyWish.io and the Polygon-based DEX Algebra

  • Alexandra Korneva - https://www.linkedin.com/in/alexandrakorneva/
    Alexandra Korneva brings a wealth of business acumen to the team, with a Master’s degree in Business Administration and Management and extensive experience leading marketing and communication companies, including Hapax and AIESEC in Ireland.

The rest of the Rubic team is comprised of talented entrepreneurs and smart contract developers, with a wealth of experience in the industry and previous stints at renowned companies such as Microsoft, Motorola, Visa, and Unilever. Rubic Finance boasts a talented and dedicated team of over 20 individuals from diverse regions including Eastern Europe, Germany, and the United States, with our headquarters and founder’s residences located in Dubai, UAE. Our team is fully transparent, with all members publicly disclosed, and we have earned recognition from industry leaders such as Polygon, Harmony, Tezos, Bitgert, and the Internet Computer for our outstanding contributions to the DeFi space. Team is experienced in the industry and previous stints at renowned companies such as Microsoft, Motorola, Visa, and Unilever.

Total Budget and Funding Tier

We request for being accepted at Tier 2.

$5000 after proof of concept presentation:
Usually we complete a network integration prototype. So the first deliverable for Conflux includes analysis and to put a prototype on a test server:

  • What provider will be used for Conflux integration
  • What DEX is the best for integration, what has the biggest trading volume, or to connect any possible
  • To add some trading pairs to purchase CFX token on the Conflux network from the main networks (Ethereum, BNB, Polygon) for native currency and stables to prepare a proof of concept for Conflux integration

Reviewer will be able to check how our protocol is looking for the best route available and once it is found to do a swap.

$10000 after completed integration on the production and made announcement in socials.

Current functionality

Ongoing Business. Rubic has been on the crypto market since September 2020.

Technical Proposal

Conflux users will get easy access to 40+ blockchains and 90+ aggregated DEXs for swapping their assets across all supported networks moreover we provide our cross-chain swap protocol as free SDK for integration and fiat on-ramp services.

Obviously it helps for mass adoption and practical Conflux usability by audience around the globe. Using of Rubic’s platform will allow individuals of entities to trade with the lowest fees, the highest speed of transaction and get the most secured way of it.

System Model

Integration can be completed in a month or two starting from the grant approval date.

Development Roadmap

We divide integration into three milestones:

Milestone 1: Planning the integration/Analysis
Approximately 1,5-2 weeks
Deeper dive into the technical requirements of the Network; Analysis of existing bridge solutions; Analysis of existing DEX platforms on Conflux ; Analysis of community/developer engagement and potential marketing starting points

Milestone 2: Finishing all analytics/ Start of the technical integration
Approximately 1,5-2 weeks
Finishing all analytics; Starting with the implementation of the Conflux API into Rubic’s smart contract structure; Integration of Conflux into the Multi-chain protocol; Integration of Conflux into Rubic’s Routing AI; Further research and completion of marketing plan by marketing department

Milestone 3:
Completion of Integration
Approximately 1,5-2 weeks
Complete the integration by deploying Conflux into the Rubic platform UI; Deploy Conflux into Developer tools; Launch of marketing campaign

2020 - March 2023 achievements:

Cross chain & on chain swaps development, improving
Series of audits (94/100 security level)
Developer Tools (free for integration)
130+ partners who integrated Rubic’s tools (Games, Launchpads, Metaverses, DEXs, NFT marketplaces, trading platforms, P2E games, educational platforms, crypto news aggregators.)
90+ integrated DEXs
40 integrated blockchains
Various bridges and cross chain providers integrated
Team was awarded for its work by companies like Polygon, Harmony, Tezos, Internet Computer, Symbiosis
Total accumulated volume - $325m
Total accumulated transactions - 240000+
24/7 support service
Sharing revenue model
Automated execution of swap
Fully decentralized platform

Future Development:
NFT/GameFi widget (Widget for NFT swaps)
NFT bridges aggregation
New Blockchain integrations (Aggregation networks to make the any user dream comes true to perform swaps at one place)
Rubic’s new umbrella SDK that enables developers to aggregate the best Web3 cross-chain tech, from oracles and signals to tokens and NFT bridges, in ready-made templates for DEXs, lending/farming, and more.
Mobile web version (To make Rubic more convenient for mobile devise users)

Deliverables Verifiability

Rubic team releases its weekly updates where PR talks about work done during the last 7 days. In addition there are announcements regarding upcoming updates.

There is a practice according to which once Rubic and network reps find consensus about integration the announcement of that will be posted as well in Rubic’s social media. Will be glad to discuss cross promotion.

When announcement is done it would be unacceptable for us to ignore achieved agreement with project as it disrupts reputation.

Maintenance Considerations

With 24/7 live support and an auto-refund policy, Rubic ensures that users receive assistance and quick refunds in the event of specific transaction failures.

Official links

Website https://rubic.exchange/
Twitter https://twitter.com/CryptoRubic
Telegram https://t.me/cryptorubic_chat
GitHub https://github.com/Cryptorubic
Medium https://cryptorubic.medium.com/
Discord https://discord.gg/zmf9QF2Vuh
Reddit https://www.reddit.com/r/Rubic/
YouTube https://www.youtube.com/channel/UCuFejvCuMtepW-4nx1DNFfg

In case you need to get in touch with Rubic directly use socials to reach me out via Telegram (@IlyaRubic) or Discord (Ilia#3116).

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#2

Hi @IlyaS thanks for your application! Just some initial questions:

  1. Will Rubic support Conflux eSpace and core mainnets?
  2. What tokens will you support at launch, and how are new tokens added to your bridge?
  3. Have there been any security issues with your bridge in the past?
  4. How do you manage liquidity? Is it owned by Rubic or is it decentralized? Are there any liquidity requirements that must be met?
  5. Can you provide some information on your fee model?
  6. What bridges do you currently support?
1 Like
#3

Hey @Geoff,
Thanks for your questions. Below answers are posted:

  1. Yes, we can support eSpace and core mainnets.
  2. We can start with CFX. As for adding new token it’s possible to add manually if it’s urgent/requested or via API.
  3. Unfortunately yes, one of our contracts was compromised and as a result, we experienced a loss of funds.
    We have reacted quickly in the form of compensating all users losses whose wallets were affected by the hack. Our priority has been to minimize the impact of the compromise on our users and restore their confidence in our platform.
    We understand that this situation may have raised concerns about the security and reliability of our platform. However, we want to assure you that we are fully committed to restoring our reputation and maintaining the trust of our partners and users. Our team is working tirelessly to address the issue and implement robust security measures to prevent similar incidents from happening in the future.
    We believe that transparency and accountability are key in these situations, and we are openly communicating about the issue to all stakeholders.
  4. Rubic is decentralized. We don’t manage liquidity as we act as aggregator. There is basically always liquidity, as we are aggregating so many different DEXs/AMMs that Rubic covers almost every imaginable token out there with it.
  5. Users pay $1 for onchain swaps, $2 for cross-chain swap, it doesn’t matter what amount of transaction is since fees are fixed on the dApp.
    Projects that integrated Rubic’s tools are able to choose fee model, which is flexible for partners and customizable to let projects charge as they prefer to.
  6. The list of supported bridges: Across, AnySwap, Arbitrum Bridge, Avalanche Bridge, Celer Bridge, Connext, DeBridge, Hop, Hyphen, Open Ocean, Multichain, Optimism Gateaway, Osmosis Bridge, Polygon, Refuel, Satellite, Stargate, Symbiosis, Synapse, Thorchain, Wormhole, Y Pools (XY Finance), ChangeNOW. We’re always open for suggestions regarding connecting new providers.

I hope my answers satisfy your inquiry, feel free to ask more if you need more clarifications.

#4

Hello @IlyaS,
I’m interested in the NFT bridge feature. I was wondering if you can create a separate grant proposal for the development of that feature only (cross chain bridge for NFTs between eSpace and other EVM chains).
Thanks,

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#5

Hi @0xn1c0,
We’re not developing bridges, Rubic is not a bridge, but rather bridges aggregator under one roof in order to make users’ experience smooth in assets swapping regarding with the best rates and the biggest amount of supported networks.

NFT bridges aggregation and integration are scheduled at the Q3-Q4 2023.

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#6

Thanks for your application @IlyaS. After reviewing the Grants Committee has decided not to proceed with your application.

#7

Alright, much thanks for review.
Once our team is closer to aggregating NFT bridges we’ll apply once again with expanded offer to Conflux.

1 Like