Under the hood of bRing
Having briefly outlined the features of our platform in the previous article, let’s dive right into some of its more elaborate aspects.
Our platform’s main advantage is the fact that it allows users to generate yield from every connected to the pool token, while only staking a single one from the list. For example, BRNG holder has an opportunity to stake and generate rewards in other projects’ tokens, connected to the same pool. This way we reward the individual holders of every project we bRing in by allowing them to stake tokens they are already familiar with.
What is the reason for other projects to join our pools, you may ask? Well, in addition to receiving promotion from our side, we incentivize our users to stay in for the long run. We have built in a system, which encourages prolonged periods of staking. This way projects have a clear understanding of how many of their tokens are staked and for how long, giving them time to prepare for price fluctuations.
Not only do we benefit those projects taking part in our pools, we are also taking extreme care of our dear community members. When you lock tokens inside a pool, they will not be influenced by the external market forces. A fixed number of other projects’ tokens will be generated for you, no matter the token price or current market conditions.
As we have already said, initially we will launch on Ethereum network. However, we already have a BSC bridge in the workings for the Q3. This would allow us to increase the number of pools, raise awareness of our project within other communities and to reduce the extreme Ethereum fees. We might even consider other cross-chain solutions, if there is enough support from their corresponding communities. We are leaning towards establishing both HECO and Solana bridges in the future.
Finally, as we mentioned, our referral system will pave the way into more community interactions. We are very conscious of our community and we would like to incentivize the participation as much as possible. This is why our referral system guarantees the rewards for the most active community members, those who invite other participants to our project. Both the person who invites and the people they bRing in get additional rewards.
We will continue our introductory series with the tokenomics explainer and highlight the variety of different rounds coming soon. We hope you enjoyed this latest piece. Keep in touch with our socials and stay tuned for more news!
