Rings Protocol
  • Overview
    • Introduction
    • Veda Vaults
      • Collateral vault (Ethereum)
      • Staking vault (Sonic)
    • Rings, Sonic & Veda Points
    • Security Framework and Audits
    • Gauge Listing Framework
    • Treasury / Backing Address
  • Tutorials
    • Introduction
    • Minting
    • Staking
    • Locking
  • Developers
    • Veda BoringVaults
    • Staked scAssets & yield distribution
    • scUSD/scETH veNFT
    • Quest integration
    • Smart Contracts
    • Bug Bounties
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  1. Tutorials

Introduction

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Last updated 4 months ago

Rings Protocol incorporates a governance mechanism inspired by Solidly, providing scUSD and scETH holders with three distinct options to participate and influence the ecosystem:

  1. Users may choose to hold their scUSD or scETH tokens in a liquid state, allowing them the flexibility to utilize these assets freely within Sonic as they see fit.

  2. By staking their scUSD, users receive stkscUSD, enabling them to earn yields generated by various DeFi protocols on Sonic. The stkscUSD functions akin to a vault managed by Veda, deploying the scUSD into diverse DeFi strategies to offer passive income streams.

  3. Users can opt to lock their stkscUSD to obtain vestkscUSD, a veNFT that grants them governance rights within the Rings Protocol. While this choice means forfeiting direct staking yields, it opens the door to earning rewards through voting incentives (also called 'bribes') within the gauge voting system.

Liquid Holding:
Staking for Yield:
Locking for Governance: