FAQ
Answers to common questions about Ruby, Europa, and the SKALE ecosystem.
What Is An AMM?
An Automated Market Maker (AMM) is a smart contract that enables traders to swap tokens against pools of liquidity contributed by users. AMMs have become the dominant form of decentralized exchange (DEX) in the DeFi space due to their simplicity, convenience, and security over other types of DEX.
What Is SKALE?
SKALE is a multichain scaling solution for Ethereum, featuring zero gas fees, fast confirmation and finality, decentralized on-chain storage, MEV protection, instant bridging between SKALE Chains, and 3-5 minute mainnet bridging.
SKALE's unique infrastructure enables Ruby to mint and distribute NFTs without the gas fees that would make this prohibitive on L1 and many L2s, while also providing the means to store all NFT images and metadata on-chain, plus protect users against front-running at the network level.
What Is Europa?
Europa is a shared SKALE Chain that hosts a cluster of liquidity-focused dApps and services, and a bridge to Ethereum mainnet. It is the Liquidity Hub of the SKALE Network, and the default entry point for tokens and users to enter the SKALEVERSE.
What Are NFTs?
Non-fungible tokens, or NFTs, are indivisible blockchain tokens with a low supply (often just one). These unique or limited edition tokens can be used to represent special assets, from digital art and in-game items to custom financial instruments, including Ruby's gemstones.
What Are Gemstones?
Ruby incorporates NFTs called gemstones into the platform to make its user experience more engaging, rewarding, and "sticky". In addition to profile picture (PFP) gems, Ruby offers financialized NFTs that provide trading fee rebates and, in the future, other rewards.
In the future, further use cases for NFTs may be added, including copy trading and social sharing signifiers, as well as other permissioned rewards.
What Is Metaport?
Metaport is SKALE's interchain widget. The application is embedded within Ruby's interface, and enables fast, free transfers of tokens directly between SKALE Chains.
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