What is Ruby Currency?

What Is Ruby (RUBY) Token?

Ruby typically refers to the RUBY token, which serves as both the governance and utility token for RubyExchange, a decentralized exchange (DEX). A DEX is a trading platform that matches trades using smart contracts without relying on centralized intermediaries. As a governance token, RUBY allows holders to participate in platform decision-making through voting on parameters and strategies. Additionally, holders can benefit from fee discounts or rewards within the ecosystem, reflecting the value of the platform and fostering community engagement.

RUBY Token: Current Price, Market Cap, and Circulating Supply

As of January 16, 2026, the latest available data is dated and best described by trends and qualitative analysis. As a small-cap DEX governance token, RUBY’s price is highly sensitive to trading activity, liquidity levels, and the vesting/unlocking schedule, historically exhibiting significant volatility. Circulating supply increases over time as mining and ecosystem rewards are distributed. Market capitalization fluctuates based on both price and circulating supply. For up-to-date information on price, market cap, and supply, consult the official Gate market page or project announcements. Primary data sources include CoinMarketCap, CoinGecko, and project documentation (as of October 2024).

Who Created RUBY Token and When?

According to public sources, RubyExchange launched on the Emerald chain within the Oasis ecosystem and introduced RUBY in its early stages for governance and incentive purposes—most developments have occurred since 2022. The project’s whitepaper and documentation outline token utility, incentives, and governance structure. For specific team information and an updated timeline, refer to the official project website or blog. Sources: Oasis community and project documentation (as of October 2024).

How Does RUBY Token Work?

RUBY generally follows the ERC-20 smart contract standard for on-chain transfers and transactions. If RubyExchange utilizes an AMM (Automated Market Maker) mechanism, users provide two types of tokens to liquidity pools in exchange for LP shares, enabling swaps via a pricing formula. LPs earn a portion of trading fees and may receive additional RUBY rewards. In terms of governance, token holders can vote on proposals regarding parameters like fee rates or reward allocations. Staking involves locking tokens in a contract to earn rewards; risks and returns depend on contract security and incentive structure.

Key Use Cases for RUBY

RUBY can be used for: 1) Governance voting to influence the platform’s development; 2) Liquidity incentives, rewarding users who supply funds to trading pairs; 3) Fee discounts or revenue sharing to increase user engagement; 4) Eligibility for ecosystem events and airdrops to boost community participation; 5) Serving as a trading pair asset for on-chain swaps and strategic combinations. For example, by providing liquidity to a RUBY pool on Oasis, users can earn both a share of fees and RUBY rewards while participating in governance decisions related to incentives.

Compatible Wallets and Extensions in the RUBY Ecosystem

On EVM-compatible networks, commonly used wallets include browser extension wallets (such as those supporting EVM networks) and mobile wallets. Blockchain explorers are available for checking transactions, contract details, and address balances. Users should verify that contract addresses are official and network settings match (e.g., Oasis Emerald), and ensure tokens are properly added to wallets to display balances. For long-term storage, cold wallets—offline hardware devices—offer enhanced security, but mnemonic phrases (used to recover wallets) must be stored securely.

Main Risks and Regulatory Considerations for RUBY

Smart Contract Risk: Vulnerabilities or errors during upgrades can lead to loss of funds. Market Volatility: Small-cap tokens are prone to sharp price fluctuations; be aware of slippage and liquidation risks. Liquidity Risk: Shallow pools can increase trading costs. Governance Risk: Proposals or votes may be dominated by a small number of large holders. Security Risk: Loss or compromise of private keys or mnemonic phrases is irreversible—enable 2FA (two-factor authentication) and keep backups secure. Regulatory Compliance: Jurisdictions differ in how they regulate token trading, income characterization, and tax treatment; always adhere to local laws and compliance standards.

How to Buy and Securely Store RUBY on Gate

Step 1: Register and log in to your Gate account, complete KYC verification, and enable 2FA for secure login and withdrawals.

Step 2: Confirm if Gate supports RUBY spot trading or deposits. Search “RUBY” on the "Markets/Spot" page to see available trading pairs or deposit support; if not yet listed, monitor Gate’s announcements.

Step 3: Fund your account. Use fiat channels or deposit USDT (or other supported assets) into your spot account. Ensure network and deposit addresses match to avoid errors.

Step 4: Place a buy order for RUBY. If spot pairs are available, choose between limit or market orders with reasonable price/quantity settings. After execution, verify your balance on the assets page.

Step 5: Withdraw and store RUBY securely. For long-term holding, withdraw to your personal wallet. Select the correct network (e.g., Oasis Emerald if supported), test with a small amount before transferring larger sums, and back up your private keys/mnemonic phrases securely (avoid screenshots or cloud storage). Cold wallets are recommended for maximum security.

Comparison: RUBY vs ROSE

Positioning: ROSE is Oasis Network’s native L1 token used for securing the network, paying transaction fees, and supporting core infrastructure; RUBY is the governance and utility token for the DEX, focusing on trading incentives and governance. Demand Drivers: ROSE’s demand is influenced by network activity and usage; RUBY’s demand depends on platform volume, incentive programs, and governance scenarios. Risk Profile: ROSE is more affected by macro trends and overall chain dynamics; RUBY is more sensitive to platform liquidity and contract mechanisms. These tokens are complementary—L1 secures the base layer while DEX tokens drive application-level activity.

Summary of Ruby (RUBY)

RUBY is the governance and utility token of RubyExchange, designed to incentivize liquidity provision, facilitate governance participation, and provide fee-related benefits for users. As public data may be outdated, check Gate market pages or project announcements for current price, market cap, and circulating supply. Beginners should focus on verifying contract addresses, understanding AMM and governance mechanisms, as well as securing accounts and wallets (KYC, 2FA, private key/mnemonic backup). If Gate supports RUBY trading, follow the outlined steps for deposits and spot trading; if not yet listed, stay updated with listing news. Long-term value will depend on platform activity levels, contract security, and governance efficiency—invest according to your risk tolerance and compliance requirements.

FAQ

What Is Rubi Coin?

Rubi Coin refers to Ruby (RUBY), a blockchain-based cryptocurrency with independent smart contract capabilities and ecosystem applications. It aims to deliver secure and efficient digital asset management solutions for users. Ruby can be bought or traded on leading exchanges like Gate.

What Trading Pairs Are Available for Ruby?

Ruby supports multiple trading pairs—most commonly RUBY/USDT, RUBY/BTC, among others. Liquidity and volatility may vary across pairs; it’s recommended to check real-time markets on Gate and choose pairs with higher liquidity for optimal trading experience.

Is Ruby Suitable for Long-Term Holding?

The long-term investment potential of Ruby depends on its technical development and market adoption rate. Before investing, thoroughly research the project fundamentals, team background, and ecosystem progress. Note that cryptocurrency markets are highly volatile; manage your exposure and risk accordingly.

How Can I Participate in Ruby’s Ecosystem?

You can get involved in Ruby’s ecosystem by holding tokens for governance rights, using them within ecosystem Dapps, participating in liquidity mining activities, etc. Follow official guides from Gate Wallet or the project website for up-to-date activities and participation channels.

How Do I Switch Between Ruby Mainnet and Testnet?

To switch between Ruby mainnet and testnet, add or switch network settings manually in compatible wallets (e.g., MetaMask). This process requires entering RPC URLs, chain IDs, etc.—always obtain accurate network information from official Ruby documentation to avoid errors.

Glossary of Key Ruby (RUBY) Terms

• Cryptocurrency: A digital asset secured by cryptography that operates in a decentralized manner.
• Blockchain: A distributed ledger technology recording transactions in a chained data structure that ensures transparency and immutability.
• Wallet: A tool used to store and manage private keys for cryptocurrencies—enabling sending, receiving, and storing digital assets.
• Transaction Confirmation: The process by which a blockchain network validates a transaction; once confirmed, it becomes irreversible.
• Mining: The process of validating transactions with computing power to generate new blocks—miners are rewarded with tokens.
• Smart Contract: Self-executing code deployed on blockchains that automatically triggers actions when predefined conditions are met.

Further Reading & References on Ruby (RUBY)

• Official Website / Whitepaper:

• Developer / Documentation:

• Authoritative Media / Research: