Crossing the Rubicon: Monthly Update #1

Welcome to the first monthly update from the Rubicon team! We have tons of things to tell you about our progress, so let's get right into it.

Whitepaper

If you haven’t yet, you should go check out our whitepaper. In it, our co-founders outline some of our core beliefs: that peer-to-peer exchange is the best, most efficient means of trading assets, and the future of finance will happen on chain. These are the basic tenets that Rubicon is building upon, so if you are interested in learning more, go check out our founding document.

Rubicon Protocol on Testnet

Our protocol is now live on the Kovan test network! You can access our app on our website, or by clicking here. Currently, our app is only compatible with the Metamask wallet, so if you have one, switch your wallet to the Kovan test network by clicking on the Ethereum Mainnet bar at the top of the Metamask popup, and select Kovan from the dropdown. Now you can use our faucet to get yourself some test network Dai and start trading on our app!

If you do not have a Metamask, no worries, our team is busy working on adding compatibility with other popular web 3 wallets. If you want to try Metamask to use Rubicon’s app, you can download it from their website for free here.

Currently, the two assets trading on our app are tokens representing equity in two incredibly important fictional companies, Stark Industries and Wayne Enterprises. You can use your Dai from our faucet to start trading shares of these two companies. As of writing, the Wayne conglomerate company is trading at a much higher market cap than the defense sector darling Stark Industries, so if you think this premium is unjustified, go buy some STARK tokens! Remember, none of this money is real, so feel free to use our Dai faucet as much as you want so you can trade WAYNE and STARK.

Note: In order to make transactions on Kovan, you need Kovan ether. Here is a Kovan ether faucet that works through your Github account.

Coming soon: Portfolio and History features

Right now our team is busy building out our Portfolio view, which shows your current holdings, charts with the historical performance of your portfolio, as well as trading stats that will help you trade more effectively.

In addition to this, your trading history will be broken out into its own separate view, so you can have quick access to your past transaction data without having to go back to your wallet.

Our goal is to have the Rubicon app be the best place to trade in defi, finding the perfect balance between an easy interface for new users while having powerful tools for experienced traders.

Equities on Ethereum

Bringing securities to decentralized finance is the ultimate mission of Rubicon. The first step in this journey is creating an efficient open orderbook exchange trading assets that already exist on Ethereum, i.e. ERC-20 tokens. To borrow a phrase, we need to do some testing in production. We need to launch our protocol and build out an attractive, liquid, and robust asset exchange that companies can observe and be willing to take this big step with us and move equities onto the blockchain.

Companies are interested in having their shares “tokenized” and represented on chain, just the other day Airbnb wrote in their SEC filings for their IPO that they are monitoring the progress of tokenization and it is important to the firm’s future success. We have met with CEOs of companies looking for financing options, and we will continue to meet with them to learn more about how Rubicon and defi can play a role in this process.

We met with the SEC and discussed what our security token exchange would look like, as well as all the regulations we need to follow. We are determined to remain compliant in the eyes of regulators, which we view as an important part of bringing defi to the point of widespread adoption.

Once all these things are working together in harmony, Rubicon will be ready to bring securities to decentralized finance, and pass the point of no return for finance moving on chain.

Follow our progress!

If you want to continue to get our monthly updates, stay subscribed to Crossing the Rubicon. Check out our blog, where our team members write about our development as well as cool things happening in defi. You can follow us on Twitter, join our Discord server and chat with the team, or you can check out our Github to follow our development. You can also reach out to us at contact@rubicon.finance.

Thank you for your support! We are excited to have you following our journey.

Alea iacta est