What is RING and How Do I Create a Node?
Get some 💍 and make massive passive income!
Since writing this article, RING has ran into some sustainability issues and is no longer an available node protocol.
Please do not look to invest in this project
Let’s first discuss what RING actually is. RING touts itself as a yield processing node protocol. I personally don’t really like them using the term “node” because thats not really what this is. What RING essentially does is, you pay them “X” amount of RING to create a “node” in which they use those funds to invest into other DeFi protocols and then pay out rewards to the “node” holders. Think of this more like an extremely high yield daily dividend payout more so than creating a node.
Those of you that read my recent article on creating a node and What is a STRONG node? that discuss what a node actually is, which is quite different than what RING is doing. So I wanted to clarify that prior to diving into the details about RING.
What Is RING?
The way RING operates is, you create your RING node and the RING you paid for your node goes into a rewards pool. Then, the RING team takes those funds and invests them in other DeFi protocols that generate them rewards and then they use those rewards to pay out your daily ring rewards.
Let’s break it down so you can visualize it a bit. Let’s say you want to buy 1 Gold RING node. That node will cost you 10 RING, once you buy the node, 7 RING gets sent to the RING rewards pool to be reinvested. 1 RING gets added to the BNB/RING Liquidity Pool and 2 RING gets sent to the marketing/team wallet.
One of the main benefits to purchasing a RING node, especially for beginners is it gets you daily rewards paid out but also, since RING is investing in a bunch of DeFi protocols, they are doing the heavy lifting for you, and you may not need to invest in a bunch of protocols yourself if you are new to DeFi or don’t want to get deep in the weeds.
What is RING Investing In?
RING is still fairly new but they have just announced what investments they are starting with and putting the rewards funds into. Here are the investments that RING is currently investing in.
STRONG Nodes - $300,000
OHM DAO - $300,000
TIME DAO - $200,000
Meta Islands - $100,000
They have also shared the wallet address that they are making these purchases on, in case you want to track it for your own validity: 0x78221a79F4724Ec7A280e733958A6A3EeB236Da1
These are just the starting investments that RING has announced and I’m sure they will announce more as the project progresses going forward.
Obviously, you want the investments that RING gets into to flourish, if they do, it will strengthen the RING protocol and long term success of the project.
How Does RING Work?
So first thing you need to do is buy the RING token, which we will get into how to do that later in this article. Once you have bought the RING token, you have to decide what type of node you want to purchase. The lower amount of RING you use to buy a node, the smaller your daily returns is. Here is a breakdown of the Bronze, Silver, and Gold node options.
As you can see from above, you have the option of buying a node for 1 RING, 5 RING or 10 RING. At the time of writing this article the price of RING is hovering around $200/token. So you can get into RING for as little as $200 for a Bronze node or up to $2,000 for a Gold node.
When creating your node with RING, you should automatically receive some RING rewards right away in your “My Rewards” web portal. However, when you claim your RING rewards they take 10% that goes back into the rewards pool, so keep that in mind when claiming.
Here is the link to RING: https://www.ring.financial/
My recommendation is, if you can afford it buy the Gold nodes as it pays out .556 RING per day. Which means if you buy 1 Gold node, you will make your money back in less than 3 weeks. I’d also recommend once you have received your rewards especially once you have gotten an additional 10 RING, you reinvest into another node until you at least get 2-3 nodes. This will set you up with making 1-1.5 RING per day, at the time of writing with RING being $200/token. If you have 2-3 nodes you are looking at $200-$300 in passive income a day! That is huge, especially if you are someone new to generating passive income.
How Do I Buy RING?
RING is on the Binance network so first thing you want to do is add Binance to your MetaMask account. Here is how to do that:
First click on MetaMask browser extension, then click on the network in the top middle of the MetaMask drop down and then select “Add Network”
Then you need to enter the following information to add the Binance Network to MetaMask:
Network Name: Smart Chain
New RPC URL:
Block Explorer URL:
Then click save and you will have successfully added the Binance network to MetaMask.
Next you will need to get BNB coin preferably. You can do this a few ways, you can buy BNB on Kucoin and then send it to your MetaMask wallet or you can buy AVAX on Coinbase, send it to your MetaMask address and then use Rubic Exchange to swap AVAX to BNB. Both ways will get you BNB into your MetaMask account.
Now that you have BNB in your MetaMask account, you need to swap it for RING. You can do so via pancakeswap. Here is the link to add RING and swap directly on PancakeSwap:
You can also manually add the address to pancakeswap and add the RING token to your MetaMask using the contract address here: 0x521ef54063148E5F15F18B9631426175ceE23DE2
I’d also recommend pulling up the token on coinmarketcap where you can get the contract address and verified site information. Here is RING coinmarketcap address: https://coinmarketcap.com/currencies/ring-financial/
Ok, so you got your Binance setup in MetaMask and you just purchased your RING tokens and are ready to create a node, almost to the finish line!
Now you need to navigate to RING website. Then click on Launch App in the top right corner. Once you are in the app click on “Create Node”. You will then see a screen that looks like this:
Here you can select either Bronze, Silver, or Gold for your node as well as create a name for you node. Then check the box after reviewing the disclaimer and press create a node.
After a few seconds you should now see your node in the list on the website and you are on your way to creating a passive income stream!
Hopefully you found the information from this article helpful and understand a little bit more about the RING protocol and how to purchase a RING node. If you run into any issues with creating your node or want to check out more things related to DeFi, feel free to follow me on Twitter. Also be sure to subscribe to this newsletter to get more passive income tips and learn about DeFi.
If you want to track your rewards accrued on RING as well as any other DeFi protocols you are invested in, be sure to pick up my Passive Income Tracker that allows you to keep track of all your purchases and rewards accrued.
Just wanted to give a heads up to current subscribers, I will be taking 2 weeks off from the newsletter to spend time with friends and family during this holiday season. I hope you all enjoy the holidays and get a chance to take a little break and reset going into 2022. Happy Holidays and Happy New Year! I’ll be back with new articles at the beginning of the new year.