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RingFi: An Auto-Staking And Auto-Compounding 3.0 Protocol

RingFi describes itself as the “the world's first Auto-Staking & Auto-Compounding 3.0 Protocol with Real Use Cases.”

What is RingFi?

“RingFi is a Systematic and Experimental Approach to the Circular Economy and Sustainability in DeFi. The next generation of 3.0 protocols," describes the website.

The RingFi platform follows the concept of The Circular Economy where holders of the $RING token will get constant and sustainable inflow of rewards at a fixed APY which is backed by a reserve of funds that ensures the perpetuity of the protocol. The fixed APY promised by the platform is at 392,537%, rewarding uses 0.02362% every 15 minutes.

Whitepaper

The entire team behind RingFi platform has been KYC’d which has integrated a comprehensive Risk Free Value structure which takes advantage of the trading volume fees in order to back the staking rewards (rebase rewards). Users and holders of $RING should also know that the Treasury of the platform is present to safeguard the price action during times of extreme volatility.

“The goal for RingFi is simple, to build a Crypto Reserve Currency that will still exist in the years to come and become the base for a future ecosystem that offers a range of crypto products and services, all built from a strong foundation of consistent high APY rewards,” describes the project.

It is also important to note that the $RING and $wRING tokens have been audited by CyberScope, and the team has KYC'd to pinksale and locked liquidity 100 years.

Features

wRING

RingFi brings a new way to wrap auto-staking DeFi tokens so users can still receive compounding rebases while being used to make passive income in yield farms and NFTs as well as be used cross-chain, on CEXs, for lending and borrowing applications, and for governmental tax protection, among other things. 

wRING is the wrapped version of RING token which is a composable version of RING that enables users to collect yields on BSC dapps while still receiving rebases.

wRING or Wrapped $RING represents the value of $RING based on the latest index when you wrap and unwrap respectively. As wRING is unwrapped, you receive an amount of $RING based on the latest value of the ever-increasing index, so the total yield is the same. That means your wRING is compounding at the same exact rate as $RING.

“Since RingFi invented the concept and code to wrap an auto-staking, auto-rebasing token, no other auto-staking protocol offers this unique feature yet. This groundbreaking innovation has already gained a large amount of attention from the DeFi world,” boasts the RingFi project.

RFN (Risk-Free Notes NFTs)

Risk-Free NFTs can be compared to a value hiding rewards underneath. These rewards are given to an RFN NFT and will be unlocked when the time period ends. In order to mint an RFN, any user must lock his wRING with different lock periods. The longer the period, the higher the rewards they receive. At the same time, the predefined rewards for that particular RFN will be locked and attached to this NFT.

These NFTs have actual value and can be traded on marketplaces as well while retaining their value at the same time. Moreover, RFNs will increase RING token’s price floor because each RFN NFT that is minted will lock up a certain amount of wRING for a period of time.

Auto-Staking/Compounding

RingFi uses a Positive Rebasing formula which is elegant in its own way because it provides a Buy-Hold-Earn where users can simply hold the $RING or $wRING tokens to book their profits. It is also important to note that by simply buying and holding the token in your wallet, you earn rebase rewards directly into your wallet. Your tokens will increase every 15 minutes.

Positive Rebasing

“It is simply not possible to inflate a token supply so quickly without the USD value eventually decreasing. We have to counter this inflation, this is where RingFi differs from the competition, we pay slightly less APY in order to have a higher buy-back ratio than any other protocol,” the project adds.

A Rebase Token is one whose circulating supply expands or contracts due to changes in the token price and taking advantage of positive rebasing, the token supply increases periodically allowing holders to keep growing their tokens, like in a traditional staking protocol.

Tokenomics

Website

Website

Taxation

RingFi doesn’t generate income from bonds but it generates income from the tax system. When someone buys or sells, you as an investor benefit. There is no passive dilution to mint new tokens through binding.

Burn

The whitepaper has pointed out that 2.5% of all $RING traded are burnt in the Automated Supply Control. The more that is traded, the more it gets put into the abysm causing the circulating supply to be reduced and keeping the RingFi protocol stable and healthy in the long term.

Roadmap

Conclusion

Providing an easy and automatic Staking and Compounding in your wallets, RingFi provides a sustainable APY of more than 392,537% which amounts to 0.02362% every 15 minutes. However, in order to learn more about the project, you can jump to the links below:

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