Staking
Last updated
Last updated
Rings users have the opportunity to stake their scAssets on the Rings app to harness the native yield-bearing capabilities of these assets. When users stake scUSD or scETH, their assets are transferred to a Veda Boring Vault on Sonic. This vault is instrumental in automating sophisticated farming strategies that maximize returns.
The unstaking delay is 5 days, and will be reduced in time.
The Veda Boring Vault is designed to streamline the process by dynamically rebalancing assets and efficiently deploying them across various DeFi protocols. This ensures optimal asset allocation and the continuous generation of returns. The resulting yield is then redistributed to the stakers, providing them with passive income without the need for active management.
This system not only facilitates the growth of Rings but also enhances the entire Sonic ecosystem by deploying scAssets across various protocols, thereby contributing to the expansion and dynamism of the entire network.
