Rubicon V2 Testnet Launch

The next generation of the Rubicon protocol is here and live for testing!

New versions of the order book and router smart contracts are live on the following test networks: Arbitrum Goerli, Optimism Goerli, Polygon Mumbai

Traders can start using the new contracts by switching to testnets in the app, and Developers can start building and testing on the V2 contracts in testnet sandboxes!

Keep reading to get the scoop on V2, and subscribe to get Rubicon updates in your inbox!

What’s New in V2?

This upgrade reworks trading fees on Rubicon and adds new, gas-efficient order types to the order book contract. Both changes improve the core economics of the protocol and are aimed at making Rubicon the most efficient place to trade on every Ethereum L2 network.

Fee Updates

In Rubicon V1, every trade that ‘takes’ liquidity from the order book pays a 0.01% fee.

In V2, the majority of this fee is now paid to the address that placed the order and “made” liquidity on the book.

In other words, if your limit order is filled, you will earn an additional fee! These rebates will improve returns for liquidity providers and help traders recover some of the fees spent on gas.

Batch Orders

V2 adds new and more efficient order types called Batch Orders. These orders allow traders to make multiple (20+) limit orders and cancel orders in a single transaction!

Using Batch Orders, automated traders and market makers can save on gas fees by prorating costs across multiple orders. For example, placing one limit order today may cost $0.10 in gas fees, but placing 25 orders at once may cost ~$0.30, depending on network conditions on Ethereum and the L2 network.

Traders can access Batch Orders in two places. They can use them at the low-level on RubiconMarket.sol through the batchOffer(), batchCancel(), and batchRequote() functions, or they can deploy a MarketAid.sol helper contract and access custom trading functions.

We’re excited to see traders experiment with and build on these new order types!

Trading on Testnet

To start trading on test networks, click Settings and toggle ‘Show test networks’ to have supported test networks appear in the Network list.

Developer Resources

Developers and bot builders can start testing the Rubicon V2 contracts ahead of their launch on mainnet(s)! If you have questions while integrating, our team can answer questions in the #devs channel in the Rubicon Discord. Get started with Rubicon V2 below:

Rubicon V2 Code Repo

RubiconMarket Docs

Testnet Contract Deployments

Open-Source Trading Bots

Rubicon Resources

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.)

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