The OneRing Review
APR, APR, and more APR on Equalizer, Velodrome, and Chronos
Gm Ringers! It has been a minute since our last review article and, for that, we apologize. Not to worry though, while we were quiet in this format, we have been extremely busy behind the scenes establishing incredible yield farming opportunities for our loyal community.
Let’s get to it.
$RING arrives on Arbitrum
We hinted in recent months that we were preparing our migration to the much-hyped layer 2, Arbitrum, and we are stoked to announce that the time has finally arrived! We are now live on the chain.
The $RING token can already be bridged to and from Arbitrum by using Multichain cross-chain bridge.
Multichain: https://app.multichain.org/#/router
$RING token address (Arbitrum): 0xBF05279F9Bf1CE69bBFEd670813b7e431142Afa4
We are big believers in the potential of Arbitrum to emerge as one of, if not THE, go-to layer two solution for projects that desire the decentralization and security of the Ethereum blockchain at scale. This can be witnessed by the massive total value locked (TVL) and tremendous farming opportunities already available on the chain.
Arbitrum is just getting started and we will be in prime position to capitalize on all the great opportunities available on the chain as the crypto industry readies for the next bull market.
Chronos, here we come!
We at OneRing luvvv that sweet, sweet ve(3,3) yield. If you have been with us the past few months, you will know that we have been heavily involved in the “ve(3,3) wars” on both Equalizer DEX (Fantom Opera) and Velodrome (Optimism). We have established very strong veNFT positions on both protocols and have been using our immense voting power to direct token emissions to our liquidity providers.
To continue that trend on Arbitrum, $RING has been officially whitelisted on Chronos Exchange! Beginning with this epoch, veCHR voters can vote for our WETH-RING liquidity pair and earn their share of some incredibly generous bribes (800k $RING available this epoch!). Our team will utilize our veCHR position to drive $CHR emissions to you, our liquidity providers.
** If you are unfamiliar with ve(3,3) DEXs (aka Solidly forks), you should check out our article on these protocols from earlier this year.
Let’s have a quick rundown on how you can vote and provide liquidity on Chronos:
How to vote for WETH-RING on Chronos
- Connect your Arbitrum wallet (e.g. Metamask) to chronos.exchange.
- Purchase any amount of $CHR and go to https://app.chronos.exchange/lock to lock it as a veCHR NFT. (The more $CHR you lock and the longer period of time you lock them, the higher your voting power.)
- Go to https://app.chronos.exchange/vote and search for WETH/RING (volatile) pair.
- Select your veCHR NFT and when on the WETH/RING pair, set your vote to 100%.
- Enjoooy juicy bribes that are paid out on the first day of the new epoch (Thursday each week).
How to provide WETH-RING liquidity on Chronos
- Connect your Arbitrum wallet (e.g. Metamask) to chronos.exchange.
- Purchase or bridge $RING and $WETH (50:50 ratio) on Arbitrum.
- Go to https://app.chronos.exchange/liquidity and search for WETH/RING (volatile) then click “Manage”.
- Set the amounts of WETH and RING (50:50 ratio) you wish to provide for liquidity and click “Deposit and Stake”. (There will be multiple transactions that need to be approved for allowing the router to spend your funds.)
- Begin enjoooying $CHR emissions with high APR. All rewards (bribes and emissions) can be claimed at https://app.chronos.exchange/rewards.
Chronos Maturity-Adjusted LP Returns
It is important to note one key distinction between Chronos and the other ve(3,3) protocols that $RING is listed on — maturity adjusted LP returns.
Chronos utilizes an upgraded MasterChef contract called the Reliquary which was inspired by the Byte Masons. This contract allows liquidity providers to earn boosted emissions over time, with longer-staked liquidity positions receiving higher $CHR percentages per epoch.
When users provide liquidity to the WETH/RING liquidity pool, they will be given the option of staking their LP tokens on the platform to receive a maNFT. This maturity-adjusted NFT tracks the tokens and amounts provided, as well as the age of the staked position. Staked positions earn an emissions boost for up to 6 epochs, with the maximum boost being 2x and accruing linearly at 0.2x per epoch. After 6 epochs, the maNFT is considered fully mature and will continue earning $CHR at the maximally boosted rate into perpetuity or until it is unstaked.
Unlike the veNFT, there is no lock-up period for maNFTs. Users are free to unstake their position at any time and retrieve their tokens from the pool. However, doing so will result in the loss of any emissions boost that has been earned up to that point.
In a nutshell, the longer you provide WETH-RING liquidity, the higher your $CHR rewards will be!
OneRing Quick Hits
- Not to be outdone by Chronos, our RING-USDC pair on Equalizer DEX received the second most votes for the epoch beginning May 4th.
- Speaking of the RING-USDC pool on Fantom, we also have a leveraged pool available on Tarot Finance. Leverage your LP for higher APR or provide single-sided liquidity, the choice is yours!
- On Velodrome, OneRing has accumulated an incredible veVELO position (>2m $VELO locked for max lock period) and we can now maintain three-figure APR on the leading Optimism DEX WITHOUT BRIBING! We are also excited for the launch of their V2!
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.
