The Ruler Protocol community has been quite busy lately! Many new proposals have been voted on via snapshot. We would like to commend you all on your participation in governance!
Now, let's get down to business…
In this article, we will go over three proposals that have been recently passed by the community.
Authorize RULER rewards on BSC (Binance Smart Chain)
To simplify our tokenomics and add some clarity and certainty to the emissions rate, Ruler Protocol has adopted the following new tokenomics structure:
Farming rewards for May expirations will start on April 29th at 00:00 UTC. All lending liquidity pools are paired with stablecoins and expire on May 31st at 23:59 UTC.
Note: there are and will be pairs launched before or after this release statement for May expirations that are not listed here.
In roughly 48 hrs Ruler Protocol will launch an experimental “borrowing” pool. This pool will allow the user to borrow $TRIBE token(s), using $DAI as collateral. There is no risk of liquidation, but be sure to repay your loan before expiry. This will still consist of borrowers, lenders and liquidity providers.
You can borrow 1 $TRIBE for every 4 $DAI locked as collateral. For example, a user could borrow 1000 $TRIBE tokens by locking 4000 $DAI as collateral.
User enters the number of $TRIBE tokens they would like to borrow. Then they would agree to the displayed number of $DAI…
With the passing of REP5, the team will adjust the RULER rewards for the current liquidity mining pools based on utilization ratio and a number of other factors to make sure RULER emission is serving the protocol efficiently.
During this update, 10 out of the 15 liquidity pools will be updated.
Note: the non RULER rewards (like BOR, PICKLE rewards) are not changed. The new RULER rewards will still match or exceed the value of non RULER rewards.
The above change will be implemented within the next few hours. It will reduce RULER emission by 1102.5 RULER/week (~35% reduction for liquidity mining).
The team will adjust emissions up to once per week as needed.
Did you know you can take out a flash-loan from Ruler Protocol? The fee is just .085%! One of the lowest in the space.
There are 21+mm worth of DAI, 10+mm worth of wETH, 6+mm worth of wBTC, and more to be borrowed. You can find the available amount of all available tokens to borrow here.
No extra action required to participate and claim the bounty. We will be watching the on-chain activity, the first address to do this, will receive the bounty rewards.
You can find documentation on our flash-loans here.
As we continue to develop, one of our main goals is to add more collateral to be used to borrow against. Some collaterals being added are of the following categories:
Ruler Protocol is happy to announce we have finalized a deal of 4,000 RULER tokens for $1mm Dai at a cost of $250 per RULER token with a minimum of 3 months no-selling agreement.
These tokens are coming from the treasury and the funds received are in the treasury.
We are excited to complete this deal with one of our advisors, Sifu, who recently came on board to help with strategic growth initiatives as well as general community involvement.
The funding allows Ruler to have the capital required to continue to build out the protocol for the foreseeable future while aligning the protocol’s interests to a long term partner.
Recently, the REP3 Emission Improvement proposal was passed by the community. Based on the specifications of the REP, here are the Ruler Tokenomics updates.
Note: the following changes will be implemented in the next 3 hours (it will be reflected on the Apps). Tokenomics is always subject to community governance changes.
Greetings Ruler Protocol Community,
We are happy to announce that we have officially launched Ruler Protocol on the Ethereum mainnet! We appreciate your patience and support throughout the development of the protocol.
The following 3 pairs will be launched. We will launch new pairs as frequently as necessary.
The wait is over; the launch date for Ruler Protocol will be March 1st 2021. The team is working on the final touch-ups to get ready for launch.
We have put together more information to help you better understand Ruler Protocol.
Note: RULER token will be distributed via fair launch. No VCs, no pre/private sale.
Ruler Protocol is a lending platform where users can borrow their preferred cryptocurrency with any other cryptocurrency as collateral.
It aims to fill the gap by enabling the following: