April Monthly Update
Rubicon v1 is launching this month on multiple L2 networks, catch up on our latest news before it's live!
April showers bring May flowers… and the launch of Rubicon v1! That’s right, the next generation of the Rubicon DEX is launching this month on multiple L2 networks. 🥳
To learn what’s new in this protocol upgrade, check out the Rubicon v1 whitepaper. Our March Monthly Update also had some great explanations, and you can get a high-level overview from this tweet thread:
Rubicon v0 launched on Optimism in late 2021 and saw more than $9.9 million in notional trading volume in just a few months! Armed with months of market data, great feedback from our community, and new all-star team members, our team began work on the future of the Rubicon protocol.
During this development sprint, we made significant improvements to the order book protocol, added awesome new features to the Rubicon App, and revamped our internal trading systems.
Perhaps the biggest protocol change from Rubicon v0 → v1 is external rebalancing for Rubicon Pools.
To recap, liquidity in Rubicon Pools is deployed on the order books by active managers that we call strategists. When a strategist’s order is filled by a trader, the tokens are sent back to the pool as the non-native asset. To realize yield, the pool(s) must rebalance to swap this amount back to the native asset. In v0, Rubicon pools could only rebalance between themselves (the ETH pool could rebalance with the DAI pool):
In v1, pools can now rebalance these outstanding “fill” amounts on other liquidity venues! In other words, the pools can derisk by dumping these excess amounts on AMMs. The target is to always swap internally (because it's cheaper) but having the flexibility to tail off this risk on other venues is proving very important and a great improvement to the Rubicon Pools system:
More rebalancing is great news for LPs who will now realize yield more frequently (less risk exposure), and great news for traders because it should lead to an increase in order book depth!
Our team is excited and ready to launch Rubicon v1 this month! For now, here’s a little teaser of something else that is coming soon:
Rubicon at Devconnect!
In April, some of our team traveled to Amsterdam for Devconnect, one of the biggest Ethereum events of the year!
During this action-packed week, we got to listen to and meet some of the leading developers in the ecosystem. We are working on an in-depth Devconnect Recap post, but here were some of our favorite moments from the week:
Also at mev.day, Optimism and Arbitrum had back-to-back presentations on their current MEV strategies. These presentations were fascinating; we will have a full breakdown in the upcoming Devconnect Recap post!
Rubicon is Hiring/Referral Bounty
We are hiring! Rubicon is a fully remote organization focused on bringing decentralized exchange to the masses. If you want to join us in building exciting new DeFi protocols, beautiful crypto applications, and elegant trading systems, view our open roles and apply today!
If you refer someone to Rubicon and they join us, you will get 5000 USDC! Read this tweet thread for more details on our Referral Bounty:
While we were in Amsterdam, we were thrilled to learn that Optimism is launching community governance with the introduction of the Optimism Collective. The OP token will launch later this quarter, if you used Rubicon you may be eligible for the OP Airdrop #1! You can check your eligibility for Airdrop #1 here.
Additionally, Rubicon received a preliminary allocation of OP tokens as part of their Phase 0 Governance Fund. Look out for a proposal on the Optimism governance forum later this week about how we plan to use our OP allocation to reward Rubicon users and stakeholders!
Our documentation has a friendly new look! For Rubicon guides, explainers, or to start building on our order book protocol, head over to the new and improved docs.rubicon.finance:
Thanks for reading! Here’s where you can keep up with our latest news:
Alea iacta est.
(This post is for educational purposes only. Nothing in it should be construed as financial advice. Do your own research before making investments)