RingDAOPrice

(RING)

RingDAO is a venture-style decentralized autonomous organization focused on DeFi and DAO applications. It represents the evolution of the Darwinia Network, rebranding to reflect a broader mission centered on "Chain Abstraction" and AI-driven technologies. While the Darwinia Chain continues to operate as a core infrastructure piece and a Polkadot parachain, the entire ecosystem and its strategic direction are now governed by RingDAO. This transition highlights the project's shift toward solving cross-chain fragmentation and enhancing compatibility with EVM-compatible networks like Ethereum and Arbitrum.

The RING token is the native utility asset of the ecosystem with several key functions. It is used for governance, allowing holders to vote on critical proposals via designated voting platforms. It also serves as the native gas token for executing transactions on the Darwinia Network. Furthermore, RING is used for staking; users can bond tokens to collators to secure the network or participate in the xAPI oracle platform. Finally, it acts as the required fee currency for the Msgport protocol, which facilitates cross-chain messaging between different blockchain networks.

RingDAO utilizes a staking model involving Collators and Nominators. Collators are responsible for maintaining the blockchain and producing new blocks. RING holders can participate as Nominators by bonding their tokens to support specific collators through the official RingDAO apps. In return for securing the network, nominators receive a portion of the staking rewards. It is important to note that the ecosystem currently enforces a 14-day unbonding period. Once a user decides to unstake, their RING tokens remain locked and non-transferable for this duration before becoming liquid.

An XAccount, or Cross-Chain Abstract Account, is a core feature designed to achieve "Chain Abstraction" within the RingDAO ecosystem. It allows users to manage assets and interact with decentralized applications (DApps) across various blockchains through a single, unified interface. This technology removes the traditional barriers of the multi-chain experience, as users no longer need to manually switch between different networks or manage multiple native gas tokens for different chains. XAccounts simplify the user journey, making cross-chain interactions as seamless as using a single blockchain.

In the RingDAO ecosystem, xAPI is a decentralized and programmable oracle platform. It is designed to provide verifiable data to target blockchains using "chain signatures." This infrastructure is vital for cross-chain interoperability, allowing developers to build applications that can securely verify information from one chain to another. By utilizing xAPI, the network ensures that data transfers and cross-chain commands are authenticated and reliable, which is essential for the complex DeFi and DAO operations that RingDAO supports.

RING exists as a multi-chain asset and can be found on networks including Ethereum, Arbitrum, and Polygon. To view or manage your tokens, you must ensure your EVM-compatible wallet is connected to the correct network and that you have added the specific smart contract address for that chain. If your balance is not appearing in the official RingDAO apps, double-check that you are not on a legacy version of the network. For moving RING between these different chains, the ecosystem utilizes the Helixbox bridge, which supports cross-chain transfers between Polkadot and various EVM-compatible environments.