Network - Fantom
Date Launched - 15th Aug 2021
What is One Ring Finance?
One Ring — a multi-chain, cross-stablecoin yield optimizer platform! In recent years, the stablecoin market has ballooned to over $120 billion usd (Coinmetrics); however, a large percentage of this value remains idle, not earning any yield in crypto wallets and on exchanges. Take two prominent blockchains for instance, Polygon and Binance Smart Chain, 69% of the 11 billion USD in stablecoins minted on these two chains alone are not generating any returns for their holders. One Ring aims to capture this market by allowing users to deposit a stablecoin of their choice such as USDT, USDC, BUSD, DAI, or VAI into One Ring vaults. The platform automatically finds the best yields for their deposits, cross-chain and cross-stablecoin.