RingFi, an innovative auto-staking protocol platform, once again shakes the market by announcing the launch of Risk-Free Notes NFTs, a system which allows long-term investments and ensures funds are released on the exit.
Although it provides a similar service to Libero and Titano, the platform has gone a step ahead by unveiling its wRING token. RingFi multiplied by 20 the value of its $RING token by being the first to develop a wrapped token, $wRING, which in contraposition to its competitors, is an ERC-20 compatible token. This feature allows users to get the API (392,537%) while staking $wRING in other protocols, thus achieving the possibility of obtaining double rewards with a single token and a single investment.
About Risk-Free Notes NFT
RingFi will issue the first Risk-Free Notes NFTs next week, and they can only be minted by locking $wRING. This new financial product works like a guaranteed check that accumulates interest.
The smart contract contains the assets invested at the time of purchase plus rewards in $BUSD and $wRING that act as backing and interest, respectively. In addition, these NFTs may be traded on secondary markets.
The RFN NFTs allow long-term investment to obtain high interest or be sold on the secondary market for the current value of the invested tokens plus rewards. In both cases, it is profitable and not subject to risk since payment is guaranteed (assets are self-contained in the contract).
RingFi Main Concept
RingFi seems to be looking for the investors' welfare and allows them to liquidate their long-term position without losing the investment by allowing RFN NFTs to be traded on secondary markets or NFTs Marketplaces.
Although RingFi is new in the DeFi industry, it has achieved tremendous progress within a short period. Currently, it is ranked third only behind Titano and Libero.
According to the team, "The goal for RingFi is simple, to build a Crypto Reserve Currency that will still exist in the years to come and become the base for a future ecosystem that offers a range of crypto products and services, all built from a strong foundation of consistent high APY rewards.”
Company Name: RingFi Inc.