Smart rings have emerged as uniquely convenient devices for continuous physiological and behavioral sensing, offering unobtrusive, constant access to metrics such as heart rate, motion, and skin temperature. Yet most commercial solutions remain proprietary, hindering reproducibility and slowing innovation in wearable research. We introduce {\tau}-Ring, a commercial-ready platform that bridges this gap through: (i) accessible hardware combining time-synchronized multi-channel PPG, 6-axis IMU, temperature sensing, NFC, and on-board storage; (ii) adjustable firmware that lets researchers rapidly reconfigure sampling rates, power modes, and wireless protocols; and (iii) a fully open-source Android software suite that supports both real-time streaming and 8-hour offline logging. Together, these features enable out-of-the-box, reproducible acquisition of rich physiological and behavioral datasets, accelerating prototyping and standardizing experimentation. We validate the platform with demonstration studies in heart-rate monitoring and ring-based handwriting recognition. Source code is available at GitHub: https://github.com/thuhci/OpenRing.

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