Rubicon is an on-chain order book protocol built on the leading Ethereum L2 networks. The core order book contract supports peer-to-peer trading for any ERC-20/ERC-20 token pairs!
On Rubicon, Limit Orders earn fees. When an order is filled, 95% of trading fees are paid directly to the “maker”, the address that placed the order. Maker Rebates compensate traders that provide liquidity on the protocol, helping them cover their transaction fees.
Paying gas fees for every update to the order book can get expensive. Rubicon also introduces Batch Orders, novel order types traders can use to place, cancel, or update hundreds of orders in a single transaction, limited only by the network’s block/transaction gas limit. By batching many orders into one transaction, traders can prorate transaction fees across multiple orders, reducing their cost per order.
By earning rebates and using efficient batch orders, market makers can place low spreads on Rubicon, meaning traders get the best rate on the network! We like to call this Network Best Bid Offer (NBBO), and we’re excited to bring it to Arbitrum and more L2s soon!
Rubicon has lots of tooling to support builders in the ecosystem! Whether you’re integrating a trading bot, building an alternative front end, or querying market data from an API, there’s a tool for you! If you need help getting started, send a message in the #devs channel in the Rubicon Discord.
A complete list of Rubicon smart contracts is on our Deployments page
To help kickstart liquidity on Arbitrum, the top 3 market-making addresses on WETH/USDC will earn 5000 USDC of rewards at the end of August! You can track maker and taker volumes by address at app.rubicon.finance/leaderboard
Arbitrum One is the most popular Ethereum L2 network.
Built by the team at Offchain Labs and governed by the Arbitrum DAO, Arbitrum One is a favorite for DeFi users who want the look and feel of Ethereum without the high transaction fees. We encourage traders to learn more about the Arbitrum security model on L2Beat.
With low latencies and a continuous block time, Arbitrum is an ideal destination for the Rubicon on-chain order book! We’re also excited about the upcoming Stylus upgrade that goes beyond the EVM and future-proofs the network’s developer experience!
Alea iacta est.
(This post is for educational purposes only. Nothing in it should be construed as financial advice. Do your own research before making investments.)