Ring Protocol Mainnet Launch!
We’re thrilled to announce that Ring Protocol has been deployed to Ethereum Mainnet, and the Ring App is live at https://ring.exchange! All the relevant contact addresses can be found here, the notable token contract is listed below for convenience.
Ring protocol is a yield compounding stablecoin protocol on Uniswap V3, designed like ‘One Ring to rule them all.’ It launches an RUSD stablecoin that is fully pegged on a basket of existing stablecoins and simultaneously enables stable swap liquidity pools.
The protocol’s vision is to provide 10x better transaction cost, and liquidity depth compares to existing solutions and grows to be a critical player in the DeFi ecosystem.
RING is the Ring Protocol’s governance token. The token holders can participate in voting to influence the protocol’s product roadmap and future direction. RING token is designed to be appreciated over time as the protocol grows. We will share more the benefits of RING token holder in details shortly.
RUSD Mint and Swap are available now! The staking is open for depositing, and the genesis mining pool will be starting on Jun.4th 12:40 PM PST. Subscribe to our medium channel for more updates on the mining details!
Mint, Swap, and Deposit today to prepare for the immediate RING earning once it’s open!
Mint RUSD
Starting today, early adopters can start mint RUSD by depositing DAI / USDC / USDT assets via Ring App. See the user guide for a detailed how-to. Any deposit goes to Ring Protocol’s bonding curve for price discovery, and at the same time, the protocol will increase the liquidity pool depth of the corresponding stable pairs.
Traders
The mainnet launch simultaneously enabled RUSD-DAI, RUSD-USDC, RUSD-USDT liquidity pool on Uniswap V3. Traders can start trade RUSD now via Ring App “Swap”. The experience is comparable to trading with other stablecoin like DAI / USDC / USDT. What’s more — because Ring is the stable connected asset among them all, there might be a better price quote for large stable swap volume if leverage via RUSD connected liquidity.
Traders, there are arbitrage opportunities! When RUSD is above the peg against one other stablecoin, the arbitrager can mint RUSD and sell against the stablecoin for profit!
Staking
The first staking pool (staking RUSD to mine RING) will be launch on Jun.4th at 12:40 PM PST (Jun.4th at 7:40 PM GMT). However, users can start staking NOW via Ring App “Stake“ UI to enjoy immediate rewards once the pool starts.
The staking pool is for RUSD single asset (no impermanent loss). For the genesis allocation, 10% of the total RING supply is reserved for staking reward, which will be released in two years.
RING Governance Token
RING is the only governance token for Ring Protocol. The token represents the ownership of the protocol. Collectively the token holders decide what new assets to add, system parameters, and future direction. Initially, the supply of RING is 1,000,000,000 with the following distribution.
Genesis Allocation:
Mainnet Launch
- 40% Belongs to DAO governance
- 10% Staking
- 1% IDO
- 6% Initial project bootstrap, airdrop, trading incentives, and other grants
Reservation for long term growth, subject to 3 years back weighted vesting
- 15% Investors, advisory, and strategic partners
- 15% Core team
- 13% Community development fund.
Developers
As we launch the mainnet, we invite developers and security researchers around the world to help the protocol to be safer, check out Ring Protocol Bug Bounty Program for details.
We also invite developers to build and enhance tools around the Ring ecosystem. Stay tuned for the future developer grant announcement.
Ecosystem Partners
Ring Protocol’s goal is to continuous innovation and sustainable growth. We look forward to any ecosystem partners to grow with us, and bring more value to DeFi together. Please don’t hesitant to reach out us if you’d like to collaborate, partner, or add your token pair with RUSD or RING. Please contact us at contact@ring.exchange with a brief intro, we will get back to you as son as we can!
Contact
Ring Labs is the core team that is actively working on improving the Ring Protocol. The primary communication channel is Medium and Twitter. Please subscribe or follow us to stay up to date.
If you’d like to reach out to the team, please DM on Twitter, or contact us at contact@ring.exchange.
Read more about Ring Protocol:
