Nowadays, if you have a good idea, then you will succeed. It’s not a joke — it’s the truth! For example, the history of the product that we will consider in detail today is exactly this: a meeting of old friends, a discussion of market prospects, and new trends. Voila, this is how bRing was born for the first time, which will be discussed today.
First of all, let’s get acquainted with the main functions of the platform. bRing is a decentralized cross-chain platform with the main functions of the DeFi industry. One of the platform’s functions is staking liquidity and farming, which are the main types of income. However bRing 2.0 version has been implemented, that’s why we can say that the product was born twice. And so, there are several differences between the previous and current versions of the product. It means that you can now request and cancel bids individually.
As for the rest of the mechanics of bRing 2.0, in this version, we offer our users several staking pool options. Since our team launched LP staking pools on the BNB Chain and Harmony blockchains, it is worth considering all the available mechanics. Let’s start with Single Token Staking. It’s a token pool where you stake one token in order to get the same token. In other words, you stake your token and get rewarded in the same token. Next, consider the type of Liquidity Staking. You can stake LP tokens and receive this or various tokens as a reward. And one of the favorite options for many users — is the farming pool. In this case, several projects (up to 10) are combined into one pool, and you can stake one token or LP token and receive all the tokens in the pool as a reward.
In addition to pools, the main approaches to the bRing 2.0 referral system have been changed and redesigned. The previous version of the referral system could not reach its full potential and bring enough profit to users, as it provided only a small percentage of the pool’s profit for stakes.
On the contrary, the new system provides an opportunity to earn money in a multi-level reward system for both users and referrals. Now you can receive rewards from three sources instead of one. The new referral system has three levels, and you receive rewards from the referrals staking reward.
Thus, the new version of bRing 2.0 is designed to make DeFi processes more convenient and comfortable for our users. And this will help us with a simple interface and high APR (Annual Percentage Rate). The bRing team is interested in finding new young and energetic partners for mutually beneficial cooperation. All you need to do is submit an application posted on the project website.
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Source: https://thecryptobasic.com/2022/05/19/how-was-bring-born-twice/?utm_source=rss&utm_medium=rss&utm_campaign=how-was-bring-born-twice