Things are looking tough right now. The battle for actual earth seems to be just beginning. Macroeconomic headwinds have dealt grievous body blows to the stimulus-led economy that has forced governments worldwide to pile yet more debt upon their balance sheets in an attempt to stave off impending disaster.
The pandemic, the war in Ukraine, and structural, systematic issues with the availability and utilisation of cheap credit and reliance on fossil fuels are finally starting to show their impact on economies around the globe. Inflation is here in force, and the result is that savings are being eaten away. The banks, who for so long have survived on the teat of big government, offer savings rates that are simply laughable. Inflation is at 10%, savings pay 0.5% in Tradfi. The maths is brutal.
How DeFi Helps Savers Beat Inflation
DeFi offers yields that far outstrip traditional savings instruments. The fabled efficiency of the blockchain combined with the wonders of permissionless finance has led to stakers in DeFi earning yields that far outstrip inflation. Yes, there are some protocols (usually those using ponzinomics) that scream about 200%+ APYs, but they are to be avoided or at the least heavily scrutinised.
However, structurally sound DeFi protocols are still often offering upwards of 10%. More than inflation, and far, far more than the bank savings rate. Even ultra-safe risk free protocols and pools offer % APY ahead of what TradFi can do. Smart money is in stablecoin DeFi right now, beating the bear market in sustainable, ongoing ways.
OneRing Helps Make DeFi Easy
Yet – where to begin? It’s a question that plagues many new DeFi investors. How can you be assured that your money is really safe? And more importantly, how can you get market-beating yields without having to do the hard work? That’s where OneRing comes in.
OneRing is a cross-chain yield optimizer that gives you advanced DeFi yields without any of the hard work. Just deposit a stablecoin into OneRing, any stablecoin, stake it in the OneRing vault, and the vault does the hard work for you by scouring different chains for the best farming strategies and putting your stablecoins to work. The yields are impressive, with the yield on the Solana beta – for example – currently at 30% after protocol fees. Those protocol fees can be reduced by staking $RING, further boosting yield.
Even greater rewards will be on offer in the upcoming EVM beta, which is launching on August 31st. Up to 149% is on offer for those who deposit early. The audit has now fully completed the new tool is ready to take its place is DeFi earth.
The Difficulty of Yield Farming
Sure, it could be possible to make a greater yield than that by running your own farming strategy. Yet the time and knowledge investment required to make that happen is beyond the means of most daily crypto users. Plus, it’s laborious constantly switching coins cross-chain, and baffling trying to keep up with the latest market movements and, if you’re away for a few weeks – perhaps distracted – and something changes within the market, your carefully constructed DeFi investment plan could be in tatters, or worse, defunct.
OneRing has no such complexity attached. Once you trade your stables for $1USD (that represents your stablecoin deposit), you simply stake your $1USD in the vault and yield begins to accrue. At any time, with a 24 hour redemption period, you can retrieve your $1USD and turn it back into the stablecoin you desire. It’s a set and forget strategy. Unlike other farms, it has auto-compounding too, effortlessly converting APRs into APYs and making sure you get the most for your money.
$RING Token and Chain Integration for OneRing
Stakers of $RING, as well as having protocol fee reduction, will also benefit from value captured by the vault, as fees garnered from the service will be primarily used to buy back $RING, boosting the token price for stakes and holders. $RING is also a governance token, where holders can vote on the future direction of the protocol, including new pools and protocols they wish the vault to participate in.
OneRing is currently available on Polygon, with Fantom soon to launch. Optimism, Arbitrum, Binance Smart Chain and Avalanche are all in the works. Soon all of DeFi will be mapped through the OneRing. Once it is, OneRing can provide a cross-chain yield optimizer that truly can bind them all, whatever the darkness may bring. The bear market may be here, but the best is still getting built. OneRing will help everyone, from the smallest hobbit to the largest dragon, find them.
Source: https://www.livebitcoinnews.com/beat-inflation-and-banish-the-bear-with-onerings-cross-chain-yield-optimizer/