RAMP DeFi is a decentralized platform designed to encourage the widespread use of decentralized finance by enabling users who don't operate on the Ethereum (ETH) network to stake their tokens on Ethereum platforms. Simultaneously, those using Ethereum can engage with the RAMP protocol to enhance their yields.
The protocol allows assets staked on non-ERC-20 blockchains to be converted into a stablecoin called rUSD, which is issued on Ethereum. This approach aims to maximize capital efficiency, as users can earn rewards from staking, access liquidity from their staked assets, and enjoy multiple income streams concurrently.
Ethereum users have the option to mint eUSD by depositing their ERC20 stablecoins into RAMP’s eUSD liquidity pool. Consequently, holders of rUSD and eUSD have the flexibility to trade, lend, or borrow these tokens freely, generating liquidity for those with capital tied up in staking.
RAMP was created in response to the rapid expansion of the staking economy, which surpassed $300 billion by 2021, as well as the inefficiencies within these market structures.
Who Are the Founders of RAMP?
RAMP was established by co-founders Lawrence Lim and Loh Zheng Rong. Before venturing into RAMP, Lim served as the head of international growth at IOST and managed global sales at TradeGecko. He also focused on mergers and acquisitions at KPMG Corporate Finance LLC and asset management at JP Morgan Chase & Co.
Lim is an alumnus of Nanyang Technological University, where he earned a bachelor’s degree in banking and finance with First Class Honors.
Co-founder Loh Zheng Rong also established NOX Pte Ltd and was a blockchain consultant with Merkle Ventures LLP. Additionally, he held the position of chief innovation officer at 2359 Media and was a senior advisor for ICONIC Partners. Loh also co-founded and operated as chief operating officer at Toucanapp Pte Ltd. He holds a bachelor’s degree in business administration with a focus on finance wealth management from Singapore Management University.
What Makes RAMP Unique?
RAMP stands out by facilitating seamless token exchanges across different blockchain systems through its innovative liquidity on/off-ramp mechanisms. In this system, tokens not based on the Ethereum standard are initially transformed into stablecoins known as rUSD for utilization on the Ethereum network.
Furthermore, ERC-20 stablecoins can be converted into eUSD to participate in Ramp DeFi’s liquidity pool. rUSD holders gain access to funds in non-Ethereum blockchains and can utilize fully collateralized stablecoins while receiving staking rewards post-conversion. Meanwhile, eUSD holders benefit from interest earned by lending their digital assets and have the opportunity to provide liquidity within various DeFi protocols.
How Many RAMP (RAMP) Coins Are There in Circulation?
As of February 2021, about 176 million RAMP coins are in circulation, with the maximum cap being 1,000,000,000 coins.
How Is the RAMP Network Secured?
The RAMP network partners with the Crust Network to ensure secure decentralized data storage on-chain. This collaboration makes RAMP DeFi an open finance project capable of unlocking liquidity from staked digital assets, thus allowing users to convert their staked digital assets into liquid capital.
Crust employs an incentivized protocol for decentralized storage, compatible with multiple storage layer protocols, including IPFS, and extending to the application layer. Its underlying architecture supports the development of a decentralized computing layer, facilitating the creation of a complete cloud ecosystem.
Where Can You Buy RAMP (RAMP)?
You can purchase, sell, or trade RAMP on the following exchanges:
- Bibox
- Gate.io
- Hoo
- Uniswap (V2)
- MXC.COM
Not familiar with buying crypto? Discover how to purchase and trade Bitcoin here.
