OneRing AMA SUMMARY
OneRing is the multi-chain cross-stablecoin yield optimizer. We have many new cryptocurrency enthusiasts in our community. Can you explain to them what your project is and what solutions you want to implement?
Balrog
One Ring is a Multi-Chain Cross-Stable Yield Optimizer Platform, basically you don’t need to spend hours looking for the best farms out there. We do it automatically for you.
Destroyer of shorts
One Ring is a stable-coin yield optimizer. What this means is that our vault puts your stables to work and earns yields on your behalf. With crypto markets going bear, in times like these the importance of earning adequate yields on stables is paramount.
What we’re trying to solve is putting your stables to work and a vast majority of stables is merely sitting in people’s wallets.
And hence, this is where One Ring comes in. As we like to call it, “One Ring to Yield Them All!”
Being the humble avid DeFi yield-farmer, I’m always in search of better yields. So one ring, in this case, does all of the work for me. No need to make LP’s, etc, our vault does everything for you!
Can you tell us more about your experience, skills? Please describe something about your team, we want to meet you better. It would be nice to hear about your passions and past.
Destroyer of shorts
Yeah, for sure. Our team has a solid experience and our CMO/CEO both have an engineering and a business development background, graduating from the most notable and top-tier universities in Germany, they are well-experienced for their role. In addition, their linkeldn profiles can be viewed on our website:
About me: I’m a humble-yield farmer and joined the team since I loved the vision and what they set out to accomplish.
Balrog
The core team is always united, despite the fact that the ranks are well established, there is always confidence to ask a colleague for help. Those are signs for a solid and serious project
Nothing better than passive income. While banks give out <1% in the U.S, we’re targetting a 20–30% APY. The humble yield farmers are gonna love OneRing !
Strategic partners and backers are key criteria on which investors look at a project to decide whether or not they will invest. Who are they for #OneRing?
Destroyer of shorts
As a matter of fact, we have several of them. One Ring isn’t short of strategic partnerships. Before we introduce already public partnerships, we’d like to give some alpha. We’re about to introduce someone new to the fellowship. Hint: You use them daily:
Balrog
A very exciting way to introduce a partnership!
Destroyer of shorts
Now the partnerships that are public. We are no short of them and have lossless, Kaizen Finance, Yield Monitor, Lari X, Spookyswap, etc to name a few. More can be viewed on our website
You bet Balrog!
Destroyer of shorts
That’s just the starting point.
We have lots more to come. What we’re about to reveal could generate a big PR/Marketing push.
Can you tell us more about the earning opportunities on your platform and the usefulness of the $RING token?
Balrog
First of all, the token will capture the value of the whole ecosystem. All the work behind One Ring finance it will be reflected in our token
On the other hand, $RING holders are going to be able to vote to add new farms and chains!
$RING will have other several purposes
Maybe even what to use the collected fees for at times
Oh and of course our users will be able to stake $RING, which will lead into things like APY boosts
We will try to move more and more towards a DAO over time to implement decisions of our holders increasingly.
Destroyer of shorts
Yeah, we believe in giving to our holders. By making $RING a governance token, they have a direct say in the platform
This makes decision making more decentralized and gives a role to the community as well. With all of the focus on DAO’s, we recognize the importance of giving power back to the community
Yeah, we’re going to have the community speaheading all important decisions and it can decide on which chains to operate on, APY boosts, etc as Balrog said
Can you tell us something about your marketing, what’s your vision of the project in the next years? Do you have any plans for a bear market?
Destroyer of shorts
We’re very well positioned for the bear market. As a matter of fact, we just raised $300K on Cyberfi today in under an hour and that too in times of btc declining
Balrog
Nobody wants a bear market, but if it were, the conditions would be perfect to launch a stable coin yield optimizer.
Destroyer of shorts
On the other hand, offering yields on stables is exactly the type of staking people need during a bear market. Ride out the wave of volatility and stake your stables with us, earn yields on top.
Balrog
That’s right, in bear market -> better some yield than zero
What is for you the most revolutionary in your project? What’s your opinion because we have a lot of similar projects?
Destroyer of shorts
Yeah, for sure!
One Ring is:
1) A stable-coin yield optimzer which means we can compound your earnings, earn more yields as you go!
2) We’re cross-chain and our vault will allow you to explore the most lucrative yields anywhere, on all of the blockchains we’ve integrated
3) No need for LP, etc. Deposit any stable coin (initially offering USDC, DAI and FUSDT with more planned) and our vault does all of the stuff for you
Basically earn as you go. One Ring to Yield Them All!
Also, IMO, our partnerships and at our core competence. We’ve got some great connections in crypto as you already know.
We appeal to defi novices. In instances where a lack of knowledge in defi is a technical barrier for users to enter into the space, we make it as straight forward as possible with our easy to use UI
We’ve designed the UI in light of being accessible to all and being user-friendly. I’m sure you’ll find it convenient.
Balrog
Forget about spending hours looking for the best farms out there. We do it automatically for you!
What would you tell a potential investor to convince them to invest in $RING ?
Balrog
All the profits generated from the platform fees get distributed among RING holders. Also, as we said before, RING holders get to vote on the path we should follow (addition of new strategies, addition of new stablecoins, etc)
Destroyer of shorts
To add to that, Ring holders get lower fees. Want more yields? You gotta have more $RING!
With a steady rising TVL (and believe me, we have lots in store to pamp our TVL), the fees generated is gonna be huge. That will be used in the interest of $RING holders..
Imagine the fees generated from multiple blockchains with massive TVL, $RING holders are gonna be comfy!
Thanks for having us. To end the AMA, I’d like to say watch out for our IDO on Thorstarter and Synapse on 22nd!
Lastly, we’ll be giving away several prizes during the LBP, as high as $50K USDC and more NFTs
You heard that right! 50,000 USDC! Just for participating in on LBP. I’ll leave u to it (excluding NFTs ofc, we have several of them)
We cannot leave without inviting you to our discord server first, we are already a very large community!
http://discord.gg/oneringfinance
Winners questions:
1. Paul Scholes
I see in the website, Medium and Twitter accounts of OneRing, you use quite much refers from Lord of The Rings. So, I would like to know if you will make NFTs themed Lord of The Rings? Do you have a plan to do NFTs in the future?
Balrog
Yes, we’ve planned to do an NFT drop LOTR themed, stay tuned to our social media, it’s coming soon than you expect!
And one more thing, for the NFT event you will have a chance to win a REAL LOTR Golden Ring!
2. Sonya Orta
Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Destroyer of shorts
We’re being audited by Haechi, they have a decent track record and credentials such as auditing the infamous dex aggregator, 1inch and the multi-chain DEX, Sushiswap. The audit is currently in progress.
Moreover, we’re working with lossless as well to mitigate smart contract risks. They’re doing some great work and prevent hacks even before taking root.
Here’s a good brief of them:
https://mobile.twitter.com/losslessdefi/status/1466391822012399616
3. Joe Max
Do $RING stakers need to have a minimum amount of $RING tokens before they have a right to vote on implementation of new farms, inclusion of Blockchains and the rest??
Balrog
Absolutely no, no minimum required. Every $RING staker can participate and vote.
About Synapse Network
Synapse Network is developing a cross-chain investment and start-up acceleration ecosystem based on blockchain technology to give everybody an equal chance to contribute to great upcoming projects and to do so early on. We are bridging the gap between the traditional & crypto market. The idea of the Synapse Network technology goes beyond the standard offer of launchpads available on the market, becoming a true technological brand providing tech solutions.
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