OneRing — June in Review
Let’s take a look at the past month’s developments
The macro economy and crypto markets may have had a rough go in June, but OneRing is powering ahead with its plan to bring our community the best stablecoin yield farming platform in the crypto space. Inflation and recession fears have everyone on edge, but we make the case for utilizing OneRing to sooth those financial blues. Let’s take a quick look at what happened over the past month.
Solana dApp goes live
OneRing (Solana) beta went live in the second week of June and we are ecstatic over the results of the first month. The platform has crossed 135k USD in TVL and is providing amazing boosted yield with over 30% apy for 1USD stakers.
The Solana platform deployed stable-to-stable pools across Hubble Protocol, Saber, and HedgeLabs in June and we are stoked to deploy pools on Tulip Protocol, Apricot Finance, and Project Larix in July to bring you better, more diversified yields on your stablecoin capital.
The Solana app includes many new features including a built-in DEX that will allow you to swap any of your SPL tokens and a dashboard that is designed to make our platform more informative and transparent.
Please keep in mind that the platform is still in beta so you are advised to take caution with the amount of USDC that you deposit on the platform.
OneRing takes Consensus by storm
OneRing COO Gimli led the OneRing team to Consensus in June and came back as bullish as ever on the future of crypto and Web3 development. We caught up with him to share some insights on his experience at one of the largest crypto conferences in the world:
Q: How would you describe the overall atmosphere at Consensus? What was the consensus (pun intended) on the future of crypto?
Gimli: The experience was great! We met a lot of talented people and promising projects. Although many of the booths (MANY) were pure vaporware/solved solutions for non-existing problems or problems they created themselves. It gave us a great insight on what is coming for blockchain/crypto. The last conference about the Future of Society was really good.
Q: In what ways were you able to further the OneRing brand at the convention?
Gimli: We introduced OneRing to many fund managers and investors, talked with some other projects to integrate more normie-oriented techonologies (you can check Web3auth, Unlimint and Moonpay); however, in order to push the product forward we need to have the audit results. We are doing things right and by doing it the right way, we believe OneRing will become a default for crypto-users.
Q: Did you make any new connections/partnerships while there?
Gimli: We spent a lot of time with some of our current partners (names are confidential until after we finish their respective integrations and we make official announcements with some cross-marketing). As stated before, our goal was to meet investors/fund managers to boost deposits in the platform and we had some really interesting talks with many of them. They are definitely interested; however, nothing is official so they cannot be disclosed at this time.
Q: Was there anything that surprised or shocked you at the conference?
Gimli: Yes, aside from the vaporware, I was surprised by the the amount of people there. I didn’t expect it to be that big given the current market. But, mostly, I was surprised by how bullish the people who really believe in crypto/web3.0 are on adoption. I can’t even describe it! I can just say that I’m personally all-in on crypto. I don’t think blockchain adoption is a matter of “if” anymore, it has become a matter of “when”.
I will conclude by saying that we were also surprised, or moreso excited, about the feedback we received on the platform and our vision.
June Quick Hits
- We changed our domain to onering.tools in order to ensure a smoother service for our users
- We partnered with Zebec for top-class security via treasury management
- The Beethoven X Beets bribes continue to flow as do the SpiritSwap bribes
- Gollum NFTs staking ended on DarkMatterDeFi, but you can now stake your OneRing NFTs on Potluck Protocol
About OneRing
OneRing is the first multi-chain cross-stable coin yield optimizer in the space. The goal of OneRing is to take away the complexity of DeFi and make things easy for the user. By this, we will be able to open the DeFi space for a whole new layer of users that want to receive yield on their stables instead of just having them sit in their wallets. With a strong network of partners, KOLs, advisors, and such, OneRing aims to go right to the top and set new benchmarks for DeFi.
