Ring Protocol User Guide: Stake and Earn
The user guide provides details on step by step tutorial for staking RUSD and earn RING governance tokens. For the Mint RUSD tutorial, please refer here.
Stake RUSD to earn RING
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 decrease linearly in two years. Therefore, stake now to earn more!
Steps for staking RUSD to earn RING
Step 1: Acquire RUSD via Mint or Swap Pool
- Mint: RUSD can be mint via the section mentioned above.
- Swap: to acquire RUSD via Swap, users can do it via Ring App “Swap”
Pro Tip: I’d recommend comparing the price difference between 1) and 2) for the best possible trade!
Step 2: After acquiring RUSD, go to the “Stake“ page to approve the spend.
- Click ‘Deposit’ to enter the staking pool page
2.Click “Deposit RUSD Token”
3.Set the staking amount, click to approve the spend, then confirm.
Step 3: Once approved, click “Deposit” then sign the transaction to complete the staking and start earning!
Note the mining pool won’t start until Jun.4th 12:40 PM PST, but you can stake it anytime before the reward pool opens to be prepared for the immediate earning.