Ruby Protocol is a functional encryption-based data monetization framework powered by Polkadot. It designs and implements a fine-grained data monetization framework as a privacy layer for interacting with smart contract platforms. It enables end-to-end encrypted data monetization on public blockchains (e.g. Ethereum, Polkadot) and decentralized data solutions (e.g. IPFS).

RUBY is the native token of the Ruby protocol, which will play the role of governance and utility. RUBY plays a key role in ensuring the decentralization of the web. The uses of RUBY include but are not limited to:
Staking: All nodes need to pledge RUBY to ensure the decentralization of the Ruby protocol.
Governance: RUBY token holders can create and vote on proposals. Token holders can vote on protocol upgrades and parameter changes.
Rewards: RUBY rewards those who apply data monetization and provide liquidity.