Ruby.Exchange will no longer be actively maintained, but will continue to function indefinitely in its current form, with a decentralized frontend deployed on the SKALE network.
Dear Ruby Exchange Community,
Today brings a heartfelt and difficult announcement: Ruby Exchange is ending all ongoing development. The service will no longer be maintained by the Ruby team, though most functionality will continue to be available via a user interface hosted on the Europa SKALE Chain.
Why We Made This Decision
This decision was not made lightly, and it reflects the complex realities of operating within the evolving blockchain ecosystem.
Despite the compelling business model of the SKALE Network, which eliminates transaction fees and provides a unique platform for Ruby's users, broader adoption of token bridging and integration did not unfold to the extent that the AMM needs to thrive. Many projects on SKALE, while groundbreaking, do not utilize tokens in a way that requires a decentralized exchange. This has meant that Ruby's user base did not achieve the critical mass required for it to become self-sustaining.
New Decentralized Frontend
The AMM's smart contracts will, of course, remain available on the blockchain. Rather than shutter Ruby completely, we will be using the SKALE Network's decentralized storage to host a static frontend, while we retire the current Web2 interface. The static UI looks exactly the same as the existing Ruby.Exchange site, and includes the same features, except for advanced trading functionality and charts.
You can access the new frontend here:
https://mainnet.skalenodes.com/fs/elated-tan-skat/27d20f14b495c5c0831eaaeb9263cad8d56f4b73/ruby
This will allow users to continue trading and managing their liquidity positions for the foreseeable future.
Transition Timeline And Key Actions
- Static Frontend Deployment and Service Modifications: The static version of the Ruby Exchange interface has been deployed on SKALE, ensuring it remains fully decentralized and accessible indefinitely.
- Community Support Phase-out: We will continue to provide assistance and support through our community Telegram channel until October 15. After this date, the channel will be closed. We encourage all users and community members to use this period to address any final queries or concerns regarding the transition to the static frontend.
- Final Communication: We will confirm the decommissioning of our main website and the full transition to the static frontend in a final update. This communication will also ensure that all essential processes regarding the transition have been completed.
We want to assure our community that users' liquidity positions will not be affected. We hold ourselves to a high ethical standard and are committed to ensuring minimal negative impact on our users, especially those who have supported us by providing liquidity or holding the RUBY token. Only liquidity that was originally added by the team will be withdrawn, with all user-contributed liquidity remaining intact and unaffected by this transition.
We also want to reassure the community that we have not sold any RUBY tokens allocated to the team, and will now never do so.
With Thanks To SKALE
We also wanted to take this opportunity to say that our collaboration with the SKALE Network and the SKALE team has been a fantastic experience, and we are deeply grateful for the opportunity. We hold nothing but hope and good wishes for the future of the SKALE Network and its growing community of dApps.
Thank you for your trust and support over the past three years.
Warm regards,
The Ruby Team
