Formerly known as RAMP DEFI, LeverFi is a decentralized leverage trading platform. In March 2022, the team behind RAMP DEFI rebranded to adapt to the DeFi market. The rebranding aims to address current issues in the DeFi market, such as the lack of sustainable TVL and utility.
What is LeverFi (LEVER)?
The team behind LeverFi hopes to create a product that allows users to invest and farm simultaneously, providing value. Lenders deposit funds into lending pools and earn interest from borrowers who trade with leverage up to 10X. Any unused liquidity from lenders is invested in other DeFi protocols for additional yield.
LeverFi also aims to serve as a bridge for Ethereum and EVM-compatible chains such as BNB Chain, Avalanche, Polygon, Arbitrum, and Optimism.
The primary scenario for LeverFi is to create a unique solution for investors by integrating investing and farming into a single platform. Users can deposit collateral as single assets like Bitcoin, Ethereum, Curve liquidity provider tokens (LP), and Uniswap LP, and then combine their collateral to trade with larger positions.
The platform also supports users participating in leveraged trading pair trades or hedging transactions while allowing users to use the platform alongside DEX/CEX derivatives.
On the other hand, LeverFi charges a 1% transaction fee for each trade. Additionally, LeverFi directs investment to pre-existing DeFi protocols and decentralized exchanges. For example, when a user wants to invest in an asset on the platform, the asset is purchased from a liquid secondary market through DEXs. LeverFi does not act as a counterparty to its users and thus claims not to engage in “player versus player” or PvP behavior, as there is a conflict of interest.
The Singapore-based RAMP DEFI project was founded in 2019 by Lawrence Lim and Loh Zheng Rong. They rebranded the platform together and launched LeverFi three years later.
Additionally, the LEVER token is a governance token. LeverFi has a maximum supply of 35 billion tokens. Users can participate in the protocol’s governance if they lock LEVER for 6 to 48 months. Each token represents one vote and allows users to oversee issues related to adding or removing collateral, lending pools, tradable assets, etc.
How to Buy LEVER Coin?
LEVER Coin can be purchased quickly and securely via Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy LEVER Coin, you first need to sign up for Binance and then send fiat money. After sending fiat money, such as dollars, you can buy LEVER by purchasing BUSD and Tether (USDT) where LEVER is traded.
Additionally, users can place a purchase order at a lower value than the market value on Binance and buy at the desired price. To do this, you need to use the Limit tab and enter the amount you want to buy and the price you want to buy it at.
