CVP Proposal: Rubic - A 'one-click' Cross-Chain Service + tools to enable it for dApps

Approved CVP
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Project Name: Rubic

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Team Name: Rubic

Team Member(s): 5 team members are working on the Metis integration. Renedsaa is the team representative and others are not registered here.

Project Goal: Rubic’s goal is to unite all blockchains and ecosystems with one-click, to provide secure and fast cross-chain swaps.

Contract Address: MultichainProxy (0x333BE852042F435431967664e09315CC63593333) - Andromeda Explorer

Project Info:

Rubic started as a P2P trading platform with cross-chain functionality. The platform was launched in September 2020 by Vladimir Tikhomirov and Alexandra Korneva.

The inspiration for Rubic’s current development path was drawn from our vision of a Cross-Chain future, and the fact that a solution would need to exist to handle the movement of value between blockchain networks.

Every day, 5+ million DeFi users waste hours and hundreds of dollars on fees to migrate between blockchains, switching between DEXs and using bridges.

When we realized this issue, our team created a Cross-Chain Swap service - enabling users to swap any token for any other token, on and between all blockchains. We then created an SDK for developers so they can enable native Cross-Chain swaps within their dApps, wallets, and websites.

Rubic has completed the integration of the Metis network into our Cross-Chain Swap service. This enables users of the Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Gnosis, Fuse, Celo, Klaytn, Velas, Optimism, Moonbeam, OKC, Boba, Tron, Moonriver, Cronos, Kava, Syscoin, Oasis and Bitcoin networks to easily complete swaps to and from any token in the Metis ecosystem.

The integration of the Metis network also includes the integration of the NetSwap DEX into our protocol. In the future, we will also integrate other DEXs on the Metis network which will allow us to also be a DEX aggregator for On-Chain swaps on the Metis network.

Project Website: https://rubic.exchange/ and app.rubic.exchange

Project Test Instructions:

  1. Go to Rubic App
  2. Click ‘Select Token’.
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  3. Choose the network and the token which you would like to swap.
  4. Click ‘Select Token’.
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  5. Choose the Metis network or the network to which you would like to complete a swap.
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  6. Enter the number of tokens that you would like to swap (still in development)
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  7. Complete swap.

Video tutorial and example of the swap: https://youtu.be/pzXyInuWvag

Project Details:

When Rubic began back in 2020, our team was using integrated bridges as a solution for Cross-Chain swaps, but our development team has since come up with the idea of swapping different assets between different chains. Later, when we started researching this idea, we found out that there are no projects who had similar technology. This was an important moment for our project. Our team decided that we must increase the convenience factor for our users by creating this solution.

Rubic’s protocol offers easy trading for more than 15,500+ assets across Ethereum, BNB Chain, Polygon, Avalanche, Fantom, Arbitrum, Gnosis, Fuse, Celo, Klaytn, Velas, Optimism, Moonbeam, OKC, Boba, Tron, Moonriver, Cronos, Kava, Syscoin, Oasis and Bitcoin networks networks, using our custom and unique Cross-Chain Protocol. Utilizing liquidity pools and our own smart contracts, Rubic provides an extremely easy-to-use Cross-Chain solution for all traders and users of Web3. Cross-Chain swaps are currently available between 22 major networks right now, and Metis brings it to 23:

  • Ethereum
  • BNB Chain
  • Polygon
  • Avalanche
  • Fantom
  • Arbitrum
  • Gnosis
  • Fuse
  • Celo
  • Klaytn
  • Velas
  • Optimism
  • Moonbeam
  • OKC
  • Boba
  • Tron
  • Moonriver
  • Cronos
  • Kava
  • Syscoin
  • Oasis
  • Bitcoin networks
  1. Rubic Relay Widget

The Rubic Relay Widget has the full functionality of Rubic.exchange, and enables users to buy and sell tokens on any website. This means that users of any project can buy that project’s tokens without having to leave their website. Integration is both simple and fast!

The current list of partners that have integrated our Widget consists of 60+ projects.

  1. Rubic SDK

Rubic has developed a fundamentally new Cross-Chain Routing integration function for partners and users, where integration is completely free.

Project Milestones: The Rubic team began the integration of Metis last week. Right now, we are on the last steps of development and full deployment. This integration is completed by utilizing MultiChain on our platform to complete the swap to the Metis network.

PitchDeck: https://docs.rubic.finance/pitch-deck

Website and Audit Links:

Website: https://rubic.exchange/

Fairy Proof Staking Audit- https://docs.rubic.finance/fairy-proof-audit

Certik Cross-Chain Routing audit- https://docs.rubic.finance/certik-audit

Our Documentation: https://docs.rubic.finance/

We are happy to answer any questions you may have about our platform!

5 Likes
2

With the way rubic is built, is it ok to say Rubic is a MultiChain aggregator?.
I would love more information on how Rubic sources for liquidity.

2 Likes
3

Sounds like an amazing tool.

Are there any plans for Rubic to collab with other aggregators on the Metis eco like Hera?

Also, is Rubic looking to integrate Stargate as part of its aggregation to swap tokens cross-chain?

2 Likes
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What bridge do you use for crosschain swap currently ? It’s too a bridge aggregator ?

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Hello @Metischarter and @Patrice_Vibert !

Yes, Rubic acts as an aggregator of different Cross-Chain providers, and we are using their liquidity for completing Cross-Chain Swaps.

You can find the information about the integrated providers and networks here: Supported Chains, Bridges, and DEXs - Rubic Documents

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Hello, @rlntlss.eth !

First of all, thanks for the question.

  1. Our team would be happy to collaborate and work with projects based on Metis. Our team is looking forward to working not only with Hera but also with other projects in Metis Ecosystem. We would be happy to integrate different DEX’s if this will help users to have the best rates for the swaps.

  2. Right now, our development pipeline is quite busy because we are creating new smart contracts and developing new features for the platform. However, our end goal is to aggregate all possible liquidity sources and give users the ability to choose the best rate swap across all of the providers and networks.

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Hi Everyone! Swaps are paused with Andromeda?

When we can try Rubic in Andromeda? Thank you!

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Thanks @Renedsaa .
I have some questions about the exploit in December. What is the plan to recover funds ? and users will recover their fund ?
What about the security for the future ? Have you make another audit ?

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While performing some due deligence on Rubic, I came across PERKSHIELD’s report on a hack that affected Rubic’s platform, resulting in $1.41m of user fund. In the Metis community we take this type of challenges seriously. based on that;

  1. Can you provide details on the specific security vulnerabilities that were exploited in the hack?
  2. How will the integration of Metis blockchain technology enhance the security of RubicCrypto’s platform?
  3. Can you explain the steps being taken to prevent similar attacks in the future?
  4. How will RubicCrypto compensate users who lost funds in the hack?
  5. Can you provide an update on the ongoing investigation and any progress made in identifying the hackers?
  6. Can you explain how the platform’s risk management and incident response plans were activated in response to the hack?
  7. How will RubicCrypto ensure the transparency and accountability of the integration process with MetisDAO?
  8. Can you share any measures that have been taken to improve the platform’s user education and awareness on security best practices?
  9. How will the platform be audited for security before and after the integration of Metis blockchain?
  10. Can you explain any changes to the platform’s architecture and infrastructure to improve security?
    thank you
    @Metischarter
1 Like
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  • What Kind of Schedule Do You Anticipate?
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What are the primary objectives and goals for Rubic project?

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When it come to defi and liquidity, security is in the big concern!
how you solve these security issued and where Rubic is audited??

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Hello @BenjaminLT !
Right now the list of supported tokens is limited. However, we will increase it after the release of new contracts. The list could be found here: Metis, Netswap, and Rubic: Running Decentralized Economies | by Rubic | Medium

1 Like
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Rubic acts as an aggregator of different Cross-Chain providers, and uses their liquidity for completing Cross-Chain Swaps. This has a huge potential for DEFI and crypto in general. Also this allows to save lots of time and effort for both users as well as builders. My question is if theres a plan to apply the same to NFTS? Like moving NFTs cross chain?

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What steps have you taken to onboard the first time DEFI users. Like for example, if a new user who types cross chain swap in a search engine and wants to move from AVAX to METIS or any other chain, is there a page where he can see the price and swap with a click of a button?

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Hello @Metischarter and @Patrice_Vibert

  1. A USDC address was whitelisted for interaction with our contracts to make one of our partner’s bridges operate via other aggregators. As a result, the contract became compromised and the hacker stole users’ USDC. Our team has completed a deep investigation of the event, but right now we can’t share the details due to work with legal enforcement.

  2. Right now, swaps to the Metis network are completed using our provider’s contracts. The rubic team is in the process of creating new contracts for all of the networks. These contracts will be audited and will pass several bounty campaigns before the full launch.

  3. First of all, our team is reconsidering the architecture of our Protocol.

The Rubic platform will start operating in full in February, as soon as the new contracts are launched, audits are completed, and no potential threats are detected.
Also, our team is rearranging Rubic’s Dev Team to make it stronger and eliminate any hazards to the platform’s security. We’ve already let some people go, and we’ve hired new ones. They’re still on probation, that is why we will announce them on the team page later. We’ve also hardened up the requirements for the developers that want to join Rubic’s forces.

Right now, we are looking for a security engineer. The security engineer will be in charge of constant monitoring of Rubic’s safety and reliability.

  1. We have supported all the users who contacted Rubic’s support (72% of affected funds). Many of those users also submitted a case to legal enforcement. Since stolen funds were moved to a CEX - there is a good chance to return them. We are waiting for the results.

  2. Our team has conducted internal and external research on this hack.

This was done with the help of independent researchers and people who helped us track down the money and who completed independent research on the hack.

Right now, the stolen funds are most likely located in one of the CEXs, and this CEX is informed about it.
Our team will not share the detailed results of the investigation, in order to assist users to receive their funds back. However, the results will be shared after legal actions are finished.

  1. In an hour after the hack all of our contracts were stopped and the investigation started. This included urgent calls with the security companies and the internal investigation of the event.

  2. The integration of Metis network has already been integrated into the platform. However, the Rubic team is considering extending the integration by providing the possibility to swap all of the tokens available on the Metis network using Rubic.
    You always can find our latest updates on our Medium or Telegram Channel.

  3. Rubic team will release new articles about the security in DeFi and make major updates to the Rubic platform in the future. This will include the revoke page and UI notifications for the first comers to our platform.

  4. The launch of new contracts will be also connected with the audits and bounty campaigns. These campaigns will take place during February.

  5. Rubic team will release a separate article with details about the new architecture and infrastructure in February after the release of the new contracts. Unfortunately, right now we can’t share the details.

3 Likes
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Thank you @Renedsaa for your detailed response.

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Іnterested in the safety and reliability of the platform… hope the relaunch will be successful