OIG AMA with OneRing

9 min readDec 23, 2021

Multi-Chain Cross-Stable Coin Yield Optimizer

Saigon 💎 | OIG: Greetings OIG Community! Welcome back to our AMA Series of the day, we have the very exciting One Ring project here with us today. Representing them we have @Witch_King_One_Ring (CMO) and @boulderingintx (CM) with us.

Welcome to the OIG Main Stage gentlemen! Can you briefly introduce yourselves to our community?

0x_WItchKing | One Ring:

Hey @SaigonXIII we even brought @oneringtech with us, our COO!

Let me tell you a bit about me, I´ll keep it as short as possible.

0xGimli [ WIL NEVER DM FIRST ]:

Hello guys! Glad to be here!

0x_WItchKing | One Ring: My name is Robin. I joined OneRing through Giuseppe, our CEO. We´ve been in touch for quite a while and I really liked the project he was involved and he really liked what I was doing. So when he told me he´s about to start his own project and told me about what he´s about to build, I was in without a second thought.

Regarding me as a person: I have a M.Sc. in industrial engineering from one of the top universities in Germany. I was freelancing as a marketing consultant for a while before I got involved in crypto. I started as an investor, like most. At the end of 2020, I really dug deep into crypto and started working on projects, first more like fun stuff, but it got serious pretty quick.

This year I worked on several projects and even helped the WWF with their very first NFT drop ever. Alongside this, I worked with Moonpay to implement their direct FIAT payment for NFTs for the WWF campaign. 3–4 months back I joined the OneRing Fellowship and now I´m finally here to give you guys the chance to join the fellowship too.

Alucard: Hello everyone! My name is Erik and i was recently brought on as a mod for the project. I got into crypto right as the COVID situation unfolded, so it was a great time to join the space. I’ve started dedicating a lot more time to understanding the space this year, especially DeFi. I’ve worked as a mod for a few projects on the BSC and Fantom networks. Happy to be a part of the OneRing team!

Outside of crypto, I work in the legal world (not as a lawyer)

0xGimli [ WIL NEVER DM FIRST ]: I’m Gimli, the COO, I got a lot of experience in DeFi, I’ve been in the space since 2019 always looking to make DeFi easier for everyone.

Saigon 💎 | OIG: Amazing stuff gents! You are seriously talented and very passionate about this project.

Now I know one does not simply describe what One Ring is, but can you break it down the One Ring project for our community?

0x_WItchKing | One Ring: Okay I can break it down to the very core:

OneRing is about to make complex, very rewarding DeFi strategies easily accessible for anyone!

DeFi isn´t for everyone

Take a look at curve, popsicle finance and other protocols that have super nice APY, but are just hard to understand for the average user.

On the other hand there are protocols like Celsius which are easy to use, but don´t offer the same APYs

OneRing is going to make an easy entry for anyone, who wants to use those complex and rewarding strategies, but is overwhelmed with their complexity

Adding to that, OneRing actively manages the deposited funds and redistributes them if there´s a higher yield available.

So basically your funds will be managed the best way possible while the UI will be super easy to use.

The place to go for anyone, who wants to use DeFi. Whether you´re a newbie or an expert, OneRing is the way to go.

Saigon 💎 | OIG: Incredible!! I would love to find out more about the mechanism that determines auto-distribution to higher yield options! But that may be a question for later.

Why is One RIng needed? What are the problems it solves?

0x_WItchKing | One Ring: Great question.

Like I already said, DeFi right now always has some kind of trade-off

Either you get easy usability in return for lower APY, or you have a complex mechanism, but you´re rewarded by receiving a nice APY

So in the end, it comes down to technical complexity and information asymmetry

Many people just don´t understand how to use DeFi properly and even for those, who do understand, they always need to be on the tip of their toes if they wanna catch the best farming opportunities

There are so many chains around and on each chain new protocols keep launching

With OneRing you have the one-stop-shop

We do the hard part for you. We check for the best yield on all integrated chains, we create the LP tokens needed, we stake them, we collect and auto compound the yield and we even do the swapping for you, so you can withdraw the stablecoin of your choice on the chain of your choice.

So, OneRing solves complexity, information asymmetry and interoperability!

With us, all you need to do is deposit your stables and withdraw more stables whenever you wish to.

Saigon 💎 | OIG: My mind is truly blown. The information entry barrier is completely removed with your protocol.

Who is One Ring for?

0x_WItchKing | One Ring: Anyone. Really, just anyone.

If you made decent gains with SHIB and you stabled parts of it and just want some returns -> Deposit in our protocol

You´re an experienced yield farmer and want to save a lot of time -> Deposit in our protcol

You have bad interest rates on your banks savings account -> Put your money in crypto/stables and deposit in our protocol

You have no clue how DeFi works, but you want return on your funds instead of just letting them sit in your wallet -> You know what´s coming: Deposit in our protocol

This list goes on.

There´s just no reason to not use OneRing. Due to the fact we focus on stablecoins, there´s no risk of impermanent loss, so you have no risk of being stuck in a position. This means, after hitting breakeven after some days, you can withdraw anytime.

This is even for big VCs and such, who just want to put their reserve somewhere safe and rewarding.

Saigon 💎 | OIG: Oh my goodness. Can I get a referral link please? Because I am about to refer every single person I know + their mothers 😂😱

Can you tell us a little about your product and its key features beyond the ones you mentioned?

0x_WItchKing | One Ring: You should join our TG and Twitter, maaaybe something like that is coming up in the next weeks 😉

Saigon 💎 | OIG: 👀

0x_WItchKing | One Ring: For now, I can´t tell much more about what we´ll implement in the future since this is still under strict NDA

For now, we will start off with the mutli-chain cross-stablecoin yield optimizer

But there´s a lot more to come. If you keep an eye on which projects we partner, you may be able to draw some lines and foreshadow some things we have on our mind 😊

Always a good thing to follow closely who projects partner with

Maybe some of you guys have seen we partnered with lossless lately, so we already started covering the security aspects as well :-9

Saigon 💎 | OIG: Unreal job so far guys. You are doing everything absolutely right and we can’t wait to see what will be revealed in the near future!

What is the benefit of holding the $RING token?

0xGimli [ WIL NEVER DM FIRST ]: There are many benefits, let me explain a bit further

- $RING stakers benefit from lower fees from the platform (we charge a small fee on profit as it is our revenue stream)

- They can vote on new pool additions, new stablecoins

- They can vote for new strategies, including non-stable strategies

- We always buy back and burn tokens so holders should enjoy from price appreciation 😏

- $RING stakers get extra rewards on top of their current yield + rewards

Saigon 💎 | OIG: Unreal ecosystem. Cannot wait for this product to launch gents!

Can you give us an overview of your roadmap, letting us know of any key dates we should know about?

0xGimli [ WIL NEVER DM FIRST ]: Yes! Our IDO will be hosted with our partners Thorstarter and Synapse on January 22nd

0x_WItchKing | One Ring: I can add something to that, gimme a sec

0xGimli [ WIL NEVER DM FIRST ]: And for those who don’t make it to the IDO, We will be having an LBP hosted with Beethoven, our partner too and the first Authorized Balancer Fork on Fantom!

0x_WItchKing | One Ring:

0xGimli [ WIL NEVER DM FIRST ]: A couple of days after IDO, completely open to the public so DONT MISS IT👀

Saigon 💎 | OIG: DATE LOCKED IN 🔒🗓

Well gents, now it’s time for us to switch gears and get to our community questions on Twitter where we had a FANTASTIC turnout for One Ring!

Community Twitter Questions

Question 1)

0x_WItchKing | One Ring: I can answer this real quick

Yes! You can deposit any stablecoin integrated and you will have the same results with each of those.

There´s a fee system, but it´s not tied to which stablecoin you deposit

As long as it´s integrated, it doesn´t matter 😊

Once cross-chain features are integrated, you can even deposit USDT on Polygon and profit from an USDC-MIM pool on Fantom

Saigon 💎 | OIG:

Excellent!

Question 2)

0x_WItchKing | One Ring:There are complex algorithms put to work

But we take several things into consideration

First of all it´s about the yield, as for most of you guys

But you gotta keep in mind, we will handle huge amounts of funds

So we can´t distribute them to one place

We will have balancing algorithms that create the best average yield by splitting up funds among the integrated protocols

Adding to that, we always need to consider safety, sustainability and such

We won´t integrate any crazy protocols, we will focus on established, advanced and secure protocols. To add more security, we will do multiple audits and partner with projects like lossless, which will be integrated from the get-go to make sure our users funds are safe.

So basically it comes down to:

Best sustainable and safe yield from a couple of advanced protocols

Saigon 💎 | OIG: Love all the considerations and conditionals that go into this algorithim!

Question 3)

0x_WItchKing | One Ring: Oh, I think we answered this already by attending this AMA in a way right? 😃

0xGimli [ WIL NEVER DM FIRST ]: Adding to that, all protocols integrated are audited and have been around for many months.

Saigon 💎 | OIG:

Hahaha absolutely!

0x_WItchKing | One Ring:

OneRing functions the way we do the hard work for our customers

Saigon 💎 | OIG: Brilliantly summarized.

Well my Fellowship friends. This about sums up our time here at the OIG Main Stage! Are there any final words you would like to leave with our community? 🙂

0x_WItchKing | One Ring: Yes, absolutely

Come and join the Fellowship guys! Join

t.me/onering_finance and follow twitter.com/onering_finance

Please keep updated and follow us on our mission: OneRing to yield them all!

So much stuff coming for January, don´t be dumb to miss out on prior-IDO campaigns.