OneRing X Scary Chain Capital
We are excited to announce that Scary Chain Capital formed a partnership with Onering Finance!
OneRing is the first multi-chain cross-stable coin yield optimizer native on Fantom.
The goal of OneRing is to take away the complexity of DeFi 2.0 and make things easier for the user. By opening the DeFi space to new users that want to receive yield on their stables instead of just having them sit in their wallets, and also having a strong network of partners and advisors, OneRing aims to set new benchmarks in the upcoming DeFi future.
How the wolves found their way to Middle Earth
A long time ago a curious wolf ventured away from the pack into the depth of DeFi.
After surviving multiple rug pulls and chatting with many people who betray their own name and DM first, he found himself on the gates of something called One Ring Finance.
Our wolf has heard about it and read their documents, but finally wanted to know what all the buzz is about.
He bravely entered and was greeted by a strange creature called Rose. Her last words were: “Prove you are human”
…after proving to Rose that he ain’t no human but is a true wolf, he arrived at a place called OneRing with a full belly.
Dancing hobbits memes, wise advice from 0xGandalf and a welcoming atmosphere from the team surrounding 0xAragorn and 0xGimli are just some of the things he experienced. A while later, over many beers and shared wizard pipes, it was agreed upon that both teams should join a party to find the golden treasure.
The only dragon to slay would was the hangover the next day…
What the partnership is about
Over the last two weeks our developer teams worked behind the scenes to finish the contract implementation of SCCs bond contracts on the OneRing website.
This means users can get their $RING for a discount in exchange for assets that the OneRing team enables, namely $FTM, $USDC and RING-USDC LP.
These bonded assets, including liquidity pairs, will enable OneRing to grow their protocol-owned-liquidity more efficiently, which increases sustainability and helps to reach set goals.
Shoutout to the people from both teams here, who worked together to implement contracts and front-end so users have a pleasant experience directly on the website.
SCC holders benefit by this as Scary Chain Capital gains a small fee on bond transactions. This creates an additional revenue stream for SCC’s treasury.
Further, we have decided to put part of our stable coin farm allocation into OneRing vaults as they offer great opportunities for stablecoins and are always on the lookout for new strategies to have rates that are among the best.
We are also happy to announce that 0xAragorn from OneRing will be added as a signer of our multisig wallet.
Both teams strongly believe that one of the key ingredients for success in DeFi is community.
Having reliable partners that support each is an opportunity nobody wants to miss out on.
Lastly, we invite both communities to check each other out!
About Scary Chain Capital
SCC is a tokenized Investment Fund that uses its protocol owned treasury to farm, invest and trade and return the profits to token holders through dividends and reflections.
Scary Chain Capital launched end of November 2021 as first Finance-as-a-Service protocol on Fantom and consists of a growing team of multiple developers, treasury managers and talented individuals.
Our goal is to make the opportunities decentralized finance has to offer more accessible and less risky for everyone.