What is Rings?

Rings Protocol is a yield-bearing meta-assets platform built on Sonic.

Key Features of Rings Protocol

• Yield Generation: Rings Protocol allows users to mint yield-bearing assets such as scUSD, scETH, and scBTC by depositing stablecoins or ETH and BTC derivatives. These assets are backed by collateral and utilize farming strategies from Veda Labs to generate yield across both Ethereum and Sonic ecosystems.

• Governance and Liquidity: The protocol incorporates governance tools inspired by Solidly’s ve(3,3) model, which promotes long-term commitment and cooperative behavior among users. Users can stake their assets to receive staked versions (e.g., stkscUSD, stkscETH) and earn additional yield within the Sonic DeFi ecosystem. Locking these staked assets provides veNFTs, which grant voting rights and help distribute liquidity across Sonic’s DeFi applications.

• Integration with Sonic Labs: Rings Protocol is designed to enhance liquidity and capital efficiency in DeFi applications on Sonic. It supports Sonic's growth as a major DeFi hub by offering innovative assets that increase users' earning potential through yield and points systems.