Every day the ring is passed to the next person in the rotation, out in the open and acknowledged by all. The new bearer has to pledge, "I definitely will not be a punk-ass bitch and try to keep the ring, and I promise to suck everyone's cock if I do. "

they could have forged the ring into a chain. not like an necklace, like using the ring as a chain link, make I'm mithril, people might still be tempted to use it, but no one could wear it.