Ruby coin, the native token of the Ruby protocol, will be listed on exchanges for the first time. In this article, we will answer the questions of what is Ruby token and how to get it.

Ruby Protocol (RUBY) Token

RUBY is the native token of the Ruby Protocol; This means that the exchange of data and value within the Ruby Protocol ecosystem and its development and expansion are dependent on and facilitated by RUBY tokens.

• Think of RUBY as the blood vessels of the Ruby Protocol.

What is Ruby Protocol?

Ruby Protocol is now an Intent-centric Accounting and Access Layer for Web3. We’re building a purpose-driven, interoperable and privacy-preserving infrastructure for the future of Web3.
Our services, including Account Abstraction (AA), Asset Bridge (AB), Access Control (AC) and more, are designed to accelerate Web3 development and mass adoption. We aim to make Web3 seamless and effortless for everyone, everywhere.

How to Buy?

Ruby will first be listed on the Gate.io exchange. You can earn free Airdrop by joining the Startup area before listing. Click Here to buy.

Token Utilities

RUBY is the native token of the Ruby Protocol, which stakers deposit as collateral to run the network. Benefits of $RUBY include but are not limited to:

Staking: All nodes must stake $RUBY and run nodes to secure the decentralization of the Ruby Protocol.

Governance : $RUBY token holders can create proposals and vote. Token holders can vote on protocol upgrades.

Payment: $RUBY will be used as the payment method for transaction fees incurred on the network.

Management

Ruby will establish a community organization independent of RubyDAO. It will be based on Polkadot’s on-chain ranges that I manage, or any other blockchain network in the ranges that we have planned. Any Ruby token holder will be able to initiate governance proposals, adjust governance, or apply for grants.

However, RubyDAO management needs to be tailored to its card. Especially at the early stage, when products and works have not yet been completed, development will be hampered if management relies solely on regional autonomy. Market opportunities will also be missed. Therefore, RubyDAO’s level of autonomy will continue to improve with the development phase. Eventually the community will have full autonomy.

In accordance with the Ruby token rules, offers can be made on the following details:

• System code upgrade;
• Transaction fee, Staking Ruby amount, etc. setting system management changes such as;
• Changing the changing of governance;
• Modification or modification of the product;
• Financial support and incentive plan;