Alpha Mining》Sonic Ecology BTC.ETH.USDT LiquidityMining Raiders, Rings Protocol TVL soared five times in one week

Sonic's ecological project Rings Protocol provides revenue opportunities for BTC, ETH, Stable Coin, and TVL has skyrocketed 488% in the past week! This article will analyze the core assets of the project and disassemble how to participate in LiquidityMining on Decentralized Finance protocols such as Pendle and Beets, accumulate Sonic points, and win Airdrop $S June. (Synopsis: S ( predecessor FTM) soared 73% in a single week What big trick is hidden? Quick overview Sonic ecology, Airdrop points strategy) (Background supplement: Alpha Nuggets" Shadow Exchange innovation x(3, 3) mechanism, what is it? Sonic breaks the Uniswap dilemma) As Sonic's influence has gradually expanded, several well-known decentralized finance protocols have expanded to Sonic in the past week, including Aave, Ethereum's largest lending market, Pendle, the leading Intrerest Rate exchange market, and the Royco Protocol with more than $2.7 billion TVL. Even DEX Fluid, the second largest by volume, is evaluating deployment possibilities, keeping the Sonic ecosystem as the current Liquidity Mining hotspot. According to Decentralized FinanceLlama data, among the top six TVL protocols in the Sonic ecosystem, the fastest growth in the past week is the revenue protocol Rings Protocol. Its TVL has surpassed $48.59 million, rising 488% in a single week, surging 2,037% in the past month, and the protocol is a partner in Pendle's expansion to Sonic. Next, this article takes a closer look at the Rings Protocol and how to get involved. What is the Rings Protocol? Rings Protocol (hereinafter referred to as Rings) is the Decentralized Finance protocol of the Sonic ecosystem, users can deposit Stable Coin, ETH and BTC Derivatives, and mint the corresponding income assets, namely scUSD, scETH, scBTC. Users can then stake to earn money or participate in the Sonic ecosystem. Rings provides revenue from Veda Labs' BoringVaults, automated vaults managed by the Veda team that deploy deposited assets to the Decentralized Finance protocol of the Ethereum and Sonic ecosystems for LiquidityMining (yield farming). These vaults are able to automate LiquidityMining strategies and adjust asset allocation to improve capital efficiency. Three core assets The core of Rings operates around three types of assets: 1) scUSD / scETH / scBTC (underlying asset with income) Obtained: Stable Coin, ETH and its derivatives (WWETH, WeETH, stETH, etc.) and BTC derivatives mint are deposited in Ethereum or Sonic on-chain, and redemption takes 5 days. If mint is deposited at Ethereum, ST assets are automatically bridged to Sonic. scBTC is reserved 1:1 by LBTC, eBTC, and WBTC, and has recently been included in Sonic's whitelist assets, which can be invested in Dapps to earn points for future $S Airdrop. Source of income: Deposited assets go into the Veda vault on Ethereum and generate revenue through blue-chip decentralized finance protocols such as Aave. Revenue flow: These proceeds are not distributed directly to the "sc asset" holder, but are used to mint more scUSD and decide how to distribute it to the Decentralized Finance application within the Sonic ecosystem through the veNFT holder (see point 3 for details). Suitable for: Users who want to participate in the Sonic ecosystem but don't care about direct benefits. 2) stkscUSD / stkscETH / stkscBTC (stake assets that can receive direct benefits) Acquisition: stake sc assets to obtain, it takes 5 days to solve the stake. Source of revenue: stake's sc assets will go into the Veda vault on Sonic, and the assets will be deployed to the Decentralized Finance protocol within the Sonic ecosystem to generate revenue. Revenue Flow: Proceeds are paid directly to STAKE Asset Holder. Ideal for: Users who want stable earnings and are not involved in governance. In addition, the above two assets can also be exchanged in the secondary market, but you need to pay attention to the spread and trading Slippage. 3) veNFTs (Lock-up Position Governance Assets, Profit Through "Bribes") Acquire: Lock-up Positionstake assets in exchange for veNFTs. The number and duration of locks affect the voting weight. Source of revenue: Gauge Voting: The scUSD generated by Ethereum revenue mint is determined by the veNFT holder how it is distributed to Sonic's Decentralized Finance application. Bribes: The Decentralized Finance protocol on Sonic competes for Liquidity to attract votes by paying "bribes" to veNFT holders. Revenue Flow: Users can influence Liquidity distribution through voting and receive bribes from the app as proceeds. However, it should be noted that after obtaining a veNFT, you will no longer be able to obtain the direct benefits of stake assets, and you need to weigh the benefits of the two. Suitable for: Users who are willing to participate in governance and earn money through bribery mechanisms. Is Rings safe? Rings has taken a series of measures in terms of security, including audits, asset management mechanisms and risk control strategies to ensure the safety of users' funds. 1) Audit: Rings' Smart Contract has been audited by Spearbit and 0xMacro, which have some credibility in the blockchain security space, but the audit reports and bug fixes still need to be further confirmed. 2) Asset Management Mechanism: In addition, Veda will only deploy assets on an audited, $100 million TVL Decentralized Finance protocol that has been running for more than 6 months, and exclude high-risk or experimental strategies to remove potential Smart Contract vulnerabilities and fraud risks. 3) Risk control strategy: In order to further enhance the security of funds, Rings has set a 5-day sc asset redemption cooling-off period to reduce the possibility of market manipulation and flash crashes, and protects against governance attacks through 24-hour timelock limit protocol changes. However, these mechanisms may prevent users from redeeming assets in time when the market is extremely volatile. In addition, Rings also limits deposit risk, stipulating that the maximum TVL of a single protocol on Ethereum is no more than 10%, and that of Sonic is no more than 25%, so as to drop the risk, even if a protocol encounters problems, it will not affect the overall deposit assets. Overall, Rings' security measures are helpful for dropSmart Contract risk and protocol governance risk. Participation method In addition to staking and lock-up position sc assets, there are many ways to increase revenue in the Sonic ecosystem, this article takes BTC as an example to introduce several participation methods: (the following profits are mostly based on platform tokens as rewards, the actual distribution needs to be further viewed) Bee...