CUBE, known for its hybrid exchange, is set to revolutionize the blockchain landscape with its ambitious new project: an intent-based network that promises to redefine cross-chain interactions.

Summary

Bartosz Lipinski, representing CUBE, unveiled the company's plans to expand beyond its current hybrid exchange model. CUBE has developed a sophisticated ecosystem comprising a decentralized Multi-Party Computation (MPC) system, a custody layer supporting multiple chains, and a high-performance matching engine. The company's next big move is the launch of an intent network, tentatively named "isometric."

This new network will allow users to submit intents that can be executed across multiple chains without cannibalizing their value. Built on CUBE's existing infrastructure, including a Guardian network of validators and a decentralized MPC integration layer, the intent network aims to provide a seamless cross-chain experience for users and developers alike.

The intent network will feature a two-tier validator consensus and leverage CUBE's decentralized MPC integration layer. This setup will enable users to utilize value across different layer-one blockchains without the typical value cannibalization seen in many layer-two solutions. CUBE plans to open-source its code and gradually transition to a fully permissionless model, allowing for community participation in both governance and development.

Key Points:

CUBE's Current Infrastructure

CUBE has built a comprehensive blockchain infrastructure over the past year. At its foundation is a decentralized Multi-Party Computation (MPC) system, which forms the basis of their custody layer. This custody layer allows for settlement across multiple chains, including Solana, Bitcoin, and Ethereum.

On top of this, CUBE has deployed one of the first Solana forks running multiple validators, which they call the Guardian network. This network serves as their settlement layer, facilitating trades across various layer-one blockchains. The final piece of their current infrastructure is a high-performance matching engine that provides cross-book liquidity.

The Intent Network

CUBE's next major development is the launch of an intent network, provisionally named "isometric." This network will build upon CUBE's existing infrastructure and allow users to submit intents that can be executed across multiple chains.

The intent network will feature a component called a "composer" that will take user intents and route them through SPM and Solana before pushing them to the MPC. Through the same layer that CUBE's exchange currently uses, these intents can then be executed on various layer-one blockchains. This setup will enable developers to build applications that can interact with all the chains that CUBE's exchange currently integrates with.

Implied Order Books and Complex Strategies

As part of their development process, CUBE has created innovative features like implied order books. This complex cross-book arbitrage and order routing strategy executes across multiple chains, demonstrating the potential capabilities of the intent network.

The implied order books calculate on-chain and implied calculations across multiple order books running on different chains (e.g., Bitcoin and Ethereum). This allows for sophisticated order routing and settlement across three different chains, showcasing the power and flexibility of CUBE's intent-based system.

Guardian Network and Validator Selection

The Guardian network, which forms a crucial part of CUBE's infrastructure, currently consists of hand-selected validators. These validators are chosen based on several criteria, including their use of high-availability strategies, security focus, trustworthiness, and performance.

In the future, CUBE plans to open up the Guardian network, allowing more participants to become Guardians. This process will involve staking and voting by existing validators. Additionally, there will be a separate tier of "normal" validators that will act as light clients, which will be fully permissionless and open to all.

Roadmap and Future Plans

CUBE has outlined an ambitious roadmap for the rollout of their intent network. Towards the end of 2024, they plan to open the Guardian network to new participants, with a focus on current Solana validators or validators from other chains.

Following this, CUBE will launch their token and the mainnet of the intent network. The final stage will see the network transition to a fully permissionless model, allowing developers to build applications on top of the infrastructure freely.

Facts + Figures

• CUBE has executed more than $5 billion in volume through their current network
• The company currently supports more than 10 different exchanges
• CUBE's infrastructure includes a decentralized MPC, a custody layer, and a Guardian network
• The Guardian network is one of the first Solana forks running multiple validators
• CUBE's matching engine provides cross-book liquidity
• The new intent network will feature a two-tier validator consensus
• CUBE plans to open-source all of their current code
• The company has developed "implied order books" for complex cross-chain arbitrage
• CUBE's intent network will support non-custodial wallets, open ID with zero-knowledge proofs, and passkeys
• The Guardian network will be opened to new participants towards the end of 2024

Top quotes

1. "What we built over the last year is actually much more. We started with a decentralized MPC. And we built a custody layer that allowed users to settle to multiple chains."

2. "We want to avoid that. So how we are going to do this? We introduced this component called a composer that is going to take the intents from the user and route them through SPM and Solana."

3. "So when we started building an exchange, we wanted to make sure that that network is actually probably robust. So other than starting with just the network and then grouping that concept later, we actually wanted to be the client of what we are going to build."

4. "And what we want to do is make sure that in the future, you will be able to become the guardian."

5. "So all the code that Cube is running right now will be open sourcing it. And you will be able to participate in the development of it."

Questions Answered

What is CUBE's new project beyond their hybrid exchange?

CUBE is developing an intent network, tentatively named "isometric." This network will allow users to submit intents that can be executed across multiple blockchain networks without cannibalizing their value. It builds upon CUBE's existing infrastructure, including their decentralized MPC system, custody layer, and Guardian network of validators.

How does CUBE's intent network differ from other cross-chain solutions?

CUBE's intent network is designed to enable cross-chain interactions without cannibalizing the value on different chains. It uses a decentralized MPC integration layer that allows users to utilize value across different layer-one blockchains. This approach differs from many layer-two solutions that often result in value being locked or cannibalized on specific chains.

What are "implied order books" in the context of CUBE's system?

Implied order books are a complex cross-book arbitrage and order routing strategy developed by CUBE. This feature calculates on-chain and implied calculations across multiple order books running on different chains (such as Bitcoin and Ethereum). It allows for sophisticated order routing and settlement across multiple chains, demonstrating the potential capabilities of CUBE's intent-based system.

How can one become a Guardian in CUBE's network?

Currently, Guardians are hand-selected based on criteria such as high-availability strategies, security focus, trustworthiness, and performance. In the future, CUBE plans to open up the Guardian network to more participants. This process will involve staking and voting by existing validators. Additionally, there will be a separate tier of "normal" validators that will be fully permissionless and open to all.

What is the roadmap for CUBE's intent network launch?

CUBE plans to open the Guardian network to new participants towards the end of 2024, focusing initially on current Solana validators or validators from other chains. Following this, they will launch their token and the mainnet of the intent network. The final stage will see the network transition to a fully permissionless model, allowing developers to build applications freely on top of the infrastructure.

How does CUBE plan to ensure community involvement in their project?

CUBE intends to open-source all of their current code, allowing the community to participate in the development process. They also plan to implement a governance system where token holders can vote on changes to the MPC and other aspects of the network. This approach aims to create a more decentralized and community-driven ecosystem.

What types of applications can be built on CUBE's intent network?

Developers will be able to build applications that can interact with all the chains that CUBE's exchange currently integrates with. This could include complex cross-chain trading strategies, decentralized finance (DeFi) applications, and other innovative use cases that require seamless interaction across multiple blockchains.