Television series Ring TVL sets new record of $111 million in earnings, following a dramatic fivefold surge in February revenue
The Rings Collateralized Debt Position (CDP) project, a key component of the Sonic ecosystem, is currently making waves in the decentralized finance (DeFi) sector. Rings is one of the best-performing dapps in DeFi, according to various claims, although specific performance metrics for the Rings CDP on the Sonic blockchain are not easily found.
Launched in December 2024, Sonic is a layer 1 blockchain that has been rapidly expanding its DeFi offerings. The total value locked (TVL) of Rings, the platform's CDP dapp, has reached a record $111 million.
Rings offers a meta-stablecoin for USD and ETH assets, enabling users to deposit Ethereum- and Sonic-based assets like USDC and ETH to mint scETH and scUSD. These stablecoins can be used across Sonic dapps, providing a seamless experience for users.
The yields offered on stable assets and ETH are substantial, according to the platform's claims. Users could potentially earn over 900% Annual Percentage Rate (APR) on stable assets and more than 200% on ETH. The staking program offers yields for various durations, with users able to stake scUSD and scETH for periods ranging from one week to a year.
On Wednesday, February 26, Rings saw record daily inflows, with more than $22 million worth of tokens deposited on the platform. However, the first incentive round for staking has resulted in a decline, with the staked amount dropping from over $30 million last week to $4.5 million.
CoinGecko data is used to determine the market cap and total value of scUSD and scETH. As of the latest data, the total value of scETH is over $47 million. The market caps and total values for scUSD and scETH are provided by CoinGecko.
The majority of deposited assets in Rings on Sonic are on Ethereum, with the highest TVL collateral tokens being a mix of stablecoins and Ethereum liquid staking tokens.
While authoritative sources or DeFi analytics platforms may not have published updated metrics for Rings CDP or Sonic blockchain DeFi rankings up to August 2025, typical sources for such specific blockchain dapp data include blockchain explorers, DeFi analytics websites (like DeFi Llama, DappRadar), or Sonic blockchain official dashboards.
- Daily news reports have highlighted the best performing DeFi project, Rings CDP, on Sonic blockchain, amidst increasing investments in technology and finance.
- The best yields in DeFi are offered by Rings, with users potentially earning over 900% APR on stable assets and more than 200% on ETH, as reported in the finance news.
- In the realm of technology and decentralized finance, Rings, one of the best-performing dapps, has seen a surge in daily news due to its outstanding performance and innovative meta-stablecoin offerings.
