I will show you how to participate on One Ring IDO on Thorstarter using Fantom Network.
What is One Ring?
OneRing is a Multi-Chain Cross-Stable Yield Optimizer Platform. DeFi users today are faced with many farming options to earn yield on your crypto with more sprouting up every day. For the average user, this may be overwhelming — OneRing will streamline the process, automatically finding you the best yield options for your stables.
At any given moment there are millions of dollars worth of stablecoins sitting idle on the blockchain despite a vast array of options for yield farming. This happens for several reasons such as DeFi being complex for inexperienced users, terminology not being easily understood by the mass market, moving funds across chains often being a tedious task, and even having too many options to choose from across chains.
OneRing aims to fix this and simplify this process in great manner by automatically finding the best yields for the user’s deposit. Besides this, OneRing auto-compounds profits, turning APRs into APYs, to leverage yield. This makes OneRing an optimal product for both risk-averse investors and degens looking to diversify with safe stable farming investments during market downturns.
What is One Ring Features:
Yield Optimizer — The main function OneRing provides is the possibility to find the best yield farming options available on the market that are reliable for the investors.
Cross Chain — The product already runs on Fantom and Polygon Network, the project will continue to integrate Avalanche, Solana, Terra and other networks that will give the opportunity for a healthy cross-chain ecosystem.
Auto Compounding — The yield farming that you earn on the pool will be automatically added to your capital and provide higher APY
Any stablecoin deposits — Crypto users manage part of their portfolio on stable coins and given the different options on the market (USDC, USDT, DAI, BUSD) OneRing becomes a perfect platform for staking as it accepts all the stablecoins.
The OneRing Token ($RING)
This is the utility & governance token of the OneRing Ecosystem. It’s key utilities are:
Staking — Staking $RING will result in boosted APYs and Exclusive NFTs.
Governance — Propose, vote and take decisions by staking $RING.
Buybacks — $RING is bought back from protocol fees, increasing token valuation.
Listing of $RING and $1USD on SpookySwap
Being the biggest DEX on Fantom, listing on SpookySwap first, will make our tokens easily accessible for the Fantom community. Most likely starting out with the $RING/$FTM pair, nobody needs to be afraid of impermanent loss, since both sides of this pair have great potential for exponential growth. Again, Fantom has a ratio of 1.03761 MCap/TVL, which indicates that the native token has a lot of room to grow and liquidity provision will be a lot of fun.
What's the Tokenomics Like?
They are as Follows :
*Seed Round (Token sold at 0.13$)
8% - 8,000,000, 1 Month Lock, Linear Vesting (LV) for 18 Months
*Private Round (Token sold at 0.25$)
21% - 21,000,000, 1 Month Lock LV for 12 Months
*IDO or Public Round(Token sold at 0.50$)
0.5% - 500,000. 25% TGE, Rest LV over 4 Months
0.5% - 500,000, Locked for 1 Year
7.5% - 7,500,000, Locked for 1 Year, Then LV over 12 Months
2.5% - 2,500,000, Locked for 1 Year, Then LV over 24 Months
15% - 15,000,000, 24 Hours Lock, Then LV over 24 Months
20% - 20,000,000, 24 Hours Lock, Then LV over 24 Months
*Research & Development
15% - 15,000,000, 24 Hours Lock, Then LV over 60 Months
10% - 10,000,000, 24 Hours Lock, Then LV over 60 Months
Total is 100,000,000 tokens.
What will be the Initial Market Cap?
▪ Initial Market Cap upon launch will be close to 300,000$
In what blockchain will you be launching?
▪ Fantom Opera, but we aim to launch in Polygon, Binance Smart Chain, Avalanche and Solana.
What will be IDO price?
Thorstarter will be IDO, 500,000 $ring / 0.50% / $0.50 - 25% unlocked on TGE + 4M Linear vesting.
Next, I will show you how to Participate on Thorstarter IDO by buying XRUNE tokens in Terra block chain in order to state on Thorstarter website. Remember even though One Ring IDO is launched on Fantom Network, You can still stake your XRUNE tokens in Terra block chain. Official Thorstarter site says on One Ring Fantom IDO you can still participate on Tiers with Terra Network XRUNE staked tokens.
How to Buy Luna Tokens
First, In order to participate on Thorstarter IDO, you need to purchase LUNA tokens. I would buy Bitcoin from App like Strike with no fee just $100 buy spread between market price of Bitcoin and buy price of bitcoin. Send it to a great exchange like CoinEx without any transaction fees because Strike App uses Bitcoin lightning network with zero transaction fees. Use those Bitcoins to buy LUNA tokens. CoinEx withdrawal fee for LUNA tokens is like 0.02 LUNA. It is like $1.60 at current price of Luna at $80. Send those LUNA tokens to Terra Station Wallet. You need to create a Terra Station wallet. Easiest is to install Terra Station Chrome Extension wallet. I will provide links to it. You need to setup seed phrase and never share that will anyone. You can also install Terra Station android and IOS app as well for extra safety to confirm your seed phrase is correct before you send funds to it.
Second, You need to buy Terra (Luna) token from a centralized exchange. I use coinex.com because withdrawal fees are 0.02 Luna and trading fees are very low as well. I will provide a link below to Coinex exchange as well. Withdraw this Luna to the terra station wallet address. Terra Station wallet address is the top wallet address just like Metamask. Click the copy button and copy the wallet address. Go back to Coinex withdrawal tab and past the address. Since you are withdrawing to private self custody wallet, you do not need a memo. Click null. Click Submit and enter the 2FA code provided by Authenticator app. Confirm your withdrawal and your funds will arrive in few minutes. If you do not see your funds in a few minutes refresh the Terra Station app.
Swaping Terra (Luna) Tokens for Xrune and UST
I used the official Terra Swap to swaping Terra (Luna) Tokens to Xrune. Remember you need 2500 Xrune for tier 1 to stake on Thorstarter.org/IDO website. You also follow similar way to swap out Luna tokens for UST. At the shooting of this video, 1 Luna token is around 93 UST or 93 dollars.
Staking Xrune on Thorstarter
Go to Thorstarter.org/IDO website. Click on Tiers. Click Deposit and deposit based on your tiers. I want only to stake at Tier 1 so I need 2500 Xrune tokens. As of shooting this video Xrune is at $0.24. So Tier 1 needs 2500 tokens at current price it is little over $600. In order to deposit Xrune for staking you need to connect your Terra Station app and select terra blockchain. Thorstarter is multi chain IDO platform they support multiple block chains in including Ethereum and Fantom right now. Solona in the future. I hate IDO on Ethereum because I have to pay $150 in fees to deposit funds for staking another $100 to deposit ETH or XRUNE depending on each project requirements. They pay another $100 to claim my tokens after the Token Generation Event (TGE). With this Terra's One Ring IDO, you have to deposit UST stable coin. I expect around $100 in UST for Tier1 allocations. As of this shooting this video there is no Terra staking pools opens. I have to come back close to the IDO date of Jan 3, 2022.
After you have staked Tier1 tokens on Thorstarter.org, You have to come closer to the launch date and express interest on the IDO by signing the transaction. No gas fees are required. One Ring team want to know how much interest IDO they have from the staker they have to calculate how much UST you need for each tier. If there are so much interest on this IDO sometimes tier1 users are lottery like they did for Mine Network IDO. On the day of Launch Jan 22rd 2022 you have only 1 hour usually 10 am Easter standard Time to deposit your $100 of UST or USDC to be on the IDO. Official IDO websites will tell you exact way to invest in tokens at IDO price of $0.50 per token. Tokens are released usually 3 days after Jan 3rd. Some project take longer.
Risk and Rewards
IDOs are very risky. Private investors will be dumbing as soon as they get the tokens because public IDO sale price is much higher $0.50 compare to $0.25 Synapse Network private investors and $0.13 for earlier private investors. Given IDO is in terra blockchain, gas cost are very low under $1 per transaction compare to hundred dollars per transaction in Ethereum. You can lose your principle as well when Xrune staking tokens drop in price. I bough Xrune right before Laurt IDO at $0.25 and look it dropped to $0.19 as of shooting this video. In IDOs you can lose money with the Tiers IDO tokens. Currently, Crypto market is not that hot so, One Ring token might keep dropping in price after TGE event.
I am not a investment advisers. What i provided here is not investment advice. Do Your own research!
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