Crossing the Rubicon: November Monthly Update
Recap of recent product updates and a sneak peek at what is coming to Rubicon in December!
November was an exciting month for Rubicon and the DeFi ecosystem as a whole. Decentralized exchange trading volumes are approaching record highs, more layer 2 networks are coming online, and you can feel the bullish sentiment in the air as we approach the end of the year. Let’s recap a busy month of Rubicon developments, and get a glimpse at some upcoming upgrades!
Our landing page at rubicon.finance got a sleek refresh. We have much more in store for our site with tutorials, data dashboards, and the Rubicon whitepaper all in the works so stay tuned!
Earlier this month our team upgraded the market-making strategy used for Rubicon Pools. You can already see the results with the recent performance of the liquidity pools!
Quick summary of the new strategy:
Provides deeper liquidity for better trade execution
Better protects assets in the pools against market conditions
Produces more sustainable and less volatile returns
You can always read more details about the current Rubicon Pools Strategy in our docs. It’s important to note that we are constantly improving our market-making strategies; if our strategy was static we would be a dumb AMM! We are highlighting this specific overhaul because it implemented several improvements we wanted to make for a while and we are happy to see it thriving in production and generating yield for Rubicon Pools liquidity providers.
Our team set some very ambitious goals to reach by the end of the year, and we are ready for our December sprint. You can expect some big changes on the Rubicon app, and some new destinations for the Rubicon order book protocol! 👀
After hearing lots of great feedback from our community, we are redesigning the Trade view on our app. This new interface makes it much simpler to view the status of your open orders as well as view the charts and order book while you submit a trade. Pictured below is a mockup with some of our updates:
We would love to know what you think about this new design. If you have feedback or ideas on what you want to see on the Trade View, drop in the Rubicon Discord and let us know!
We are also close to shipping one of the most heavily requested features from Rubicon users. Soon we are adding support for bathTokens on the Portfolio page, so you will be able to easily track your Rubicon Pools LP position on our app.
To all the Pools LPs out there who have been tracking your LP positions on spreadsheets, you guys are legends! Thankfully you will not have to manually track your balances much longer, as you will have nice charts to track your Pools position(s) just like other supported tokens.
As for where the protocol is headed next, we want to keep it a surprise for now and wait for an official announcement. But, an interested reader may find it hidden somewhere in our docs or GitHub. 😉
That’s not all to look forward to in December though! There are more protocol improvements, infrastructure upgrades, and app enhancements all in our development pipeline. You will just have to wait and see.
Layer 2 News: OVM 2.0 Upgrade and EIP-4488
On November 11th, the Optimistic Ethereum network had its biggest ever upgrade to date with the launch of OVM 2.0. This upgrade is a huge achievement for the Optimism team. Instead of settling with their layer 2 network being EVM-compatible, they went a step further and achieved EVM equivalence.
What does this mean for you? If you are a Rubicon user, your trades just got cheaper and are faster. If you are a developer, it means Optimistic Ethereum is identical to Ethereum. You can use the same code and the same tooling you know and love.
It is so encouraging to see Layer 2 teams make significant strides on their roadmap. We are excited to play a part in the future of Optimistic Ethereum; OVM 2.0 is only the beginning!
More exciting news for the L2 ecosystem coming from Ethereum core developers, much of the Ethereum community is rallying around EIP-4488, a proposal to lower the cost of calldata to bring a short term ~5x reduction to gas fees on rollups.
The consensus in the community is that rollups are the primary way for Ethereum to scale in the short to medium term, and lowering the cost of storing data on mainnet would be a huge boost for transaction costs on rollups. The timeline for this upgrade is effectively ASAP, so we could see it shipped before the end of the year! For a quick visualization of how much this proposal helps Ethereum L2s, head over to L2Fees.info and divide the costs you see there by five.
The cheaper the fees on L2 networks, the better for the Rubicon order books 🚀
Join the Rubicon Community
We love talking to our users, and are so happy to have our community growing. To keep up with the latest news and updates:
Follow Rubicon on Twitter
Join our Discord community
Check out the Rubicon blog
Subscribe to our newsletter
Review our code on Github
You can also send a note to contact (at) rubicon (dot) finance
Alea iacta est.