I’ve been using a soft cock ring myself for a few days too. I switched to a very loose wrapping elastic that came with my extender, when I accidentally broke my silicon cock ring.
So far, I woke up with a kindly plumped unit, a nice flaccid. No problems so far and I don’t see how it could hurt since the pressure is very low. Actually, I keep wearing this all day long too.
I subscribe to this heal while elongated state theory. Soft and permanent workout, as opposed to aggressive workout sessions that leads you to build stronger/harder to expand tissues, and turtling.
There’s a thread about all day cock ring and some long term users have reported tremendous girth gains. I think you can go for 24Hours cock ring actually, but with a looser grip.