One Ring + your stablecoins = the best yields
Have you ever wondered if you could be doing more with your stablecoins? Over the past few years, there has been an exponential increase in the usage of stablecoins, with the USDT and USDC currently ranked amongst the top 10 cryptocurrencies by market cap. However, hunting for the best yields for your stablecoins have proven to be confusing and complicated, especially for the ordinary crypto user.
There are also risks associated with platforms that promise high yields, some might have certain terms and conditions attached, or worst still, some might just turn out to be a rug pull. To add on to that, there is now a plethora of stablecoins available in the market, and so many different chains to choose from. As such, one might be forgiven if we chose to leave our stablecoins in our wallet as it just seems to be the easier way out.
Source: One Ring Medium
Well, what if we told you that you no longer have to spend precious time figuring out how to get the best yields for your stablecoins? That’s right, with the One Ring Yield Optimizer, you can deposit any stablecoin on any chain, and the One Ring platform will automatically find the best yields for you. Their product will first be live on Polygon and Fantom before progressing to include Binance Smart Chain, Avalanche, Elrond, Solana and others.
The process is also extremely easy. All you need to do is to deposit the stablecoin of your choice into the One Ring vault on the platform. You can ‘set it and forget it’ as the platform will auto-compound your profits to leverage the yield, turning APR into APY, at the best rate for you. In return, One Ring takes a small fee from the profit generated.
Accompanying the One Ring platform is the $OR token that will serve as the utility and governance token. An important thing to note here is that the $OR token will be bought back from the market using proceeds from the platform fees, thus helping to increase the value of the token in the long run.
Source: One Ring Medium
According to One Ring, there’s a combined total of over $7 billion just sitting around in wallets. Imagine if all that money was put to good use by earning a high yield on them. Perhaps once the One Ring platform launches, we can expect to see that number decreasing. In the meantime, here’s what we can expect from the One Ring team in the coming months.
The IDOs will be held on the Fantom and Polygon chains in Jan 2022. Following which, staking and liquidity mining will be ready for $OR token holders. The platform is expected to be fully ready to accept stablecoin deposits in Q1 2022.
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