{"signature": "0x75eed5dde0146643eec946ddba403d6dd980344be811ad558976b680b612200f1da6f1a3dd2a75e2f910e9f126aee31221123245b38fcca09eb9ffbbc643ee9a1c", "application": {"round": "0x2871742b184633f8dc8546c6301cbc209945033e", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "bfgJaT2l6vW7h+mhqilXrF7C0pSmUzZ7I8TImMnfK3iaeHman1ndtty7SOhsg1jU", "encryptedSymmetricKey": "43a7dd809bee5f08c7386ed237a0481a382a156e99bde8b6c39f8ee8701744758ae7a1e32444a87e17f49f764aa5190446feaaa23de028abeb1914ec659e73e2b9820724f3dd069b4293f6ed926523b4b527833fd96f715857d61faff8fb80a38069bb1151b4e149b3a18c687b4d457c1214164575868546cdc89fd3e212f344000000000000002001ef6f561fea86a0cfe7e0691af355e664b516bbbeedfbb05a54f65409e209da44bb0651ca5dd5c4994a3e9639c15d8e"}}, {"type": "short-answer", "hidden": true, "question": "Your Telegram Handle", "questionId": 1, "encryptedAnswer": {"ciphertext": "jqUT21ouVet5R5Hgy4cwNBgDfc4tITkVTnrKi2TFAb7cqPp1tOlbnf+MULQjtyT3", "encryptedSymmetricKey": "a2e97528f2a9f006c0123e2813553da116fa7fb5aa5cbf8e2a1b7f7ebfa0a6c892cf3ff32b698c924b95c831f6389c041c6394dcbf906e1f63cba68873d874c6f183cbc471e85aa727089a25a18f4e15f4436eecb8ad644ed197a749e30eb48997933c2c3a68bd2337d1303b0c4656b689562bbb7b57bcdfab7092d0d6f954cc000000000000002046eca89e69cfe6cedde99dbff7e53b68ea7f45414af8abed54995b236448b692b0f26bde96d349569410d58a0ad88fa1"}}, {"type": "short-answer", "answer": "https://discord.gg/eB5YWFtvFs   ", "hidden": false, "question": "Link to your Public Group Chat (Discord or Telegram )", "questionId": 2}, {"type": "number", "answer": "299999", "hidden": false, "question": "Total prior funding for the project in USD", "questionId": 3}, {"type": "paragraph", "answer": "Self-funding", "hidden": false, "question": "Please expand on how much funding you\u2019ve received from each funding source and when? (VC, grants by foundation, token sales, etc)", "questionId": 4}, {"type": "number", "answer": "25", "hidden": false, "question": "Total team size", "questionId": 5}, {"type": "number", "answer": "11", "hidden": false, "question": "How old (in Months) is the project?", "questionId": 6}, {"type": "paragraph", "hidden": true, "question": "If you participated in past grant rounds using a different project payout wallet address, please share it here:", "questionId": 7, "encryptedAnswer": {"ciphertext": "yb+eMyPM/1f0jzDP9+x/7t7u9KP4BgdlB04CNmgfep4=", "encryptedSymmetricKey": "90e427db893a1380fe4bd1d0e40d8b77330e915772f3011cd42413b90bc31015ed2f8eb4e13755064a64f313a904880ccb7b09ff6c619bfcf7c97e1a856cef1e1ac13e2e334e3c6940aa1fcd465f5e88e4a2bf22f6bb3f35deac4d31152e6687e980ce481ef333e3ac05a46ac9216c7189a28904571204f21fc7c8a22542283d00000000000000209fbd9abd42c67e69141c47e1cc9488d222591e4e11f1d88ae76c0ff73323d8a92b44da038f54dcb2e324ac31a9d26588"}}, {"type": "short-answer", "hidden": true, "question": "Profiles or socials of other main team members publicly associated with the project: ", "questionId": 8}, {"type": "checkbox", "answer": ["yes"], "hidden": true, "question": "Have you read and confirmed your grant abides by the Program General Eligibility Policy? https://gitcoin.notion.site/GG18-Eligibility-cb4a5754c56043d4b3ed34eddbac261c?pvs=4", "questionId": 9}, {"type": "paragraph", "answer": "RubyDex is a unique endeavor in the blockchain industry due to its multichain approach and broad asset range, which includes traditional financial assets along with cryptocurrencies. While most decentralized exchanges (DEXs) primarily focus on crypto assets, we understand the immense potential for growth in offering perpetual contracts for traditional assets like commodities, stocks, and forex - markets that collectively amount to trillions in daily trading volume. This approach allows us to tap into a significantly larger market and attract those interested in trading traditional financial assets in a decentralized manner.\nFurthermore, we do not plan to ignore the potential of the crypto market. We will work diligently to list trending and popular coins. In addition to this, we are leading in the offering of NFT perpetuals, enabling the trading of NFTs at their floor prices with data sources from leading marketplaces such as Blur, OpenSea, LooksRare, and X2Y2. This innovative approach to the inclusion of NFTs in a DEX is yet another benefit that sets us apart from others in the industry. This confluence of traditional assets, cryptocurrencies, and NFTs into one decentralized platform makes RubyDex truly novel in the blockchain space.\nThe uniqueness of our platform allows us to target and onboard various new communities:\n \n1. Cryptocurrency Traders and DeFi Enthusiasts: These users are well-versed in blockchain technology, active in cryptocurrency trading, and familiar with DeFi platforms. They are continuously seeking innovative platforms that offer advanced financial instruments, low fees, and superior trading experiences. We aim to engage them through detailed educational content emphasizing RubyDex's unique features and by providing unprecedented customer care, which isn't typically associated with DEXs. We will also design engaging activities and incentives to encourage the trading of traditional financial assets on RubyDex, allowing users to experience simplicity and benefits compared to traditional exchanges.\n2. Traditional Financial Market Participants: This group includes individuals with a background in conventional finance who have limited exposure to the DeFi space. Our strategy involves running educational events and producing clear guides to help them understand DeFi and highlight how RubyDex provides a familiar but enhanced platform. We will illustrate the safety and transparency of well-designed DEXs with public smart contracts, particularly on a secure network like Optimism. \n3. Underbanked Populations: As a DEX embodying the true philosophy of crypto, we are committed to providing access to financial tools and income opportunities to underbanked populations and those with restricted access to financial services. We plan to develop simplified, localized educational resources to demystify DeFi and explain its advantages. We will collaborate with local community groups to reach these potential users and provide support as they navigate our platform.\n\nRubyDex aims to solve a key problem within many ecosystems such as Optimism - the lack of a comprehensive, hybrid perpetual contracts decentralized exchange that offers a vast array of assets. While other projects have made strides in the DeFi space, they often limit their offerings to crypto-based assets. By contrast, RubyDex will provide trading options for a broad range of assets, including traditional financial assets and even NFTs.\nRubyDex will also address the need for improved customer support in the DeFi space. Despite the financial freedom that DeFi provides, a common user pain point is the lack of customer service and the often daunting learning curve for newcomers. By committing to superior customer care and educational outreach, RubyDex aims to bridge this gap and create a more welcoming environment, particularly for users transitioning from traditional finance.", "hidden": false, "question": "Please explain how your project meets the round-specific eligibility criteria. ", "questionId": 10}, {"type": "paragraph", "hidden": false, "question": "If you've participated in past grant rounds, please share any new updates or milestones from the prior months. ", "questionId": 11}, {"type": "paragraph", "answer": "The most fundamental measure of the impact of RubyDex is the number of users we've onboarded through our various deployments so far. \nCurrently, we have over 143,000 users with figures tracked live at https://rubydex.com/en/analytics\nWe count each user as a unique address that has connected to our Dex. Please note that these figures are only for Arbitrum and we'll update the page to reflect users from other networks we support soon. ", "hidden": true, "question": "How do you measure the impact of your project? Please provide examples and/or standard metrics. This might be used in future impact reports ", "questionId": 12}, {"type": "paragraph", "answer": "We firmly believe that RubyDex is positioned for success because of several strategic advantages and opportunities in the marketplace:\n1. Unique Positioning in the Market: RubyDex is strategically placed at the intersection of traditional finance and the burgeoning DeFi sector, with the ability to offer perpetual contracts for traditional financial assets on a decentralized exchange. This innovative blend of finance paradigms is something few, if any, other DEX platforms currently provide. It offers the potential to tap into the vast global financial markets, where the total value of publicly traded securities alone reached approximately $94 trillion in 2020. Within the commodities market, a single asset such as gold already accounts for another $7.3 trillion. By bridging the gap between traditional finance and the crypto world, RubyDex is poised to unlock a significant portion of this vast potential market.\n2. High Leverage Trading: With the provision of high-leverage trading of up to 1000x for forex pairs, RubyDex caters to a unique niche of sophisticated traders who are looking to maximize their returns. Given that the global forex market, known for high-leverage trading, averages a daily turnover of more than $6 trillion, there's a sizable market for high-leverage trades in the crypto space.\n3. Diverse Asset Offering: The versatility of assets available on RubyDex, including non-crypto assets and NFTs, broadens our user base and makes our platform more appealing to a wide array of investors. With many analysts predicting the NFT market growing to over $80 billion by 2025, and the market for traditional asset classes being several orders of magnitude larger, RubyDex's diverse asset offering unlocks immense market potential.\n4. Multichain Deployment: By deploying on multiple chains, RubyDex can capture liquidity and users from various ecosystems, thereby increasing its total addressable market. As the DeFi space grows across various blockchains, this multichain approach could prove advantageous.\n5. Seamless Access: By offering a seamless, no-KYC trading experience, RubyDex eliminates a significant barrier to entry that often discourages potential participants in the DeFi space. This ensures a smoother user experience and opens the doors to a global audience.\n6. Growth of DeFi: Lastly, the continued growth and increasing interest in the DeFi space provide a supportive backdrop for RubyDex's success. According to DappRadar, the total value locked in DeFi protocols across the blockchain industry was about $178 billion in February of 2022, down from its peak but still expected to undergo much more explosive growth.\nGiven these strengths, along with our commitment to continuous innovation and user-focused design, we're confident in RubyDex's potential to succeed in revolutionizing the landscape of decentralized exchanges.", "hidden": true, "question": "Anything else you'd like to share about your project, previous work, or other project affiliations? Anything you'd like to add that may help in determining project eligibility?", "questionId": 13}, {"type": "paragraph", "hidden": true, "question": "Anything else you'd like to share about your project, previous work, or other project affiliations? Anything you'd like to add that may help in determining project eligibility?", "questionId": 14}, {"type": "checkbox", "answer": ["yes"], "hidden": true, "question": "Would you like to opt-in to future messages from Gitcoin for updates, information, and/or interviews? ", "questionId": 15}, {"type": "checkbox", "answer": ["yes"], "hidden": true, "question": "Would you like to opt-in to us sharing your information with select third-parties for potential opportunities for them to invest in your project? ", "questionId": 16}, {"type": "multiple-choice", "answer": "Asia", "hidden": false, "question": "Location/Region where the project is based ", "questionId": 17}], "project": {"id": "1:0x03506eD3f57892C85DB20C36846e9c808aFe9ef4:1071", "title": "RubyDex", "logoImg": "bafkreicwdan2xmkdfcrbxmjyll76b7qva3ripxs7sm7n6i2bnkgx3d3xc4", "metaPtr": {"pointer": "bafkreihxodwmn5kbgubbt3pciejzl3q4w5nvqmmgr7qxcpjrqormjruydi", "protocol": "1"}, "website": "https://rubydex.com/en", "createdAt": 1691658293883, "userGithub": "", "credentials": {"twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..JZcqM1340t-rynBtlKI_O14nz25we2KzxI5Gldpi1tilqefM3ZX9qnGx6TViBSiPTXvEZu-AdVIxJ3nS8iAWDA", "type": "Ed25519Signature2018", "created": "2023-08-10T08:52:45.515Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2023-08-10T08:52:45.515Z", "expirationDate": "2023-11-08T08:52:45.515Z", "credentialSubject": {"id": "did:pkh:eip155:1:0xa58b1C93B900f9230Da01750234FEA6f7e5f5FCF", "hash": "v0.0.0:8tFCQ/2KYWyGEAtlaoa73txWMJ77NAtRSL34G2u3Q8Q=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#Ruby_Dex"}}}, "description": "RubyDex is a unique endeavor in the blockchain industry due to its multichain approach and broad asset range, which includes traditional financial assets along with cryptocurrencies. While most decentralized exchanges (DEXs) primarily focus on crypto assets, we understand the immense potential for growth in offering perpetual contracts for traditional assets like commodities, stocks, and forex - markets that collectively amount to trillions in daily trading volume. This approach allows us to tap into a significantly larger market and attract those interested in trading traditional financial assets in a decentralized manner.\n\nFurthermore, we do not plan to ignore the potential of the crypto market. We will work diligently to list trending and popular coins. In addition to this, we are leading in the offering of NFT perpetuals, enabling the trading of NFTs at their floor prices with data sources from leading marketplaces such as Blur, OpenSea, LooksRare, and X2Y2. This innovative approach to the inclusion of NFTs in a DEX is yet another benefit that sets us apart from others in the industry. This confluence of traditional assets, cryptocurrencies, and NFTs into one decentralized platform makes RubyDex truly novel in the blockchain space.", "lastUpdated": 0, "projectTwitter": "Ruby_Dex"}, "recipient": "0x2a5046922B9517e14A090B14eaf115de039c582f"}}