RAMP DeFi is a decentralized protocol aimed at increasing the adoption of DeFi by allowing non-Ethereum (ETH) users to stake their tokens on ETH platforms. It also enables Ethereum users to interact with the RAMP protocol and increase their earnings.
What is RAMP (RAMP)?
RAMP DeFi ensures that stakes in non-ERC-20 staking blockchains are collateralized with a stablecoin known as rUSD, released on the Ethereum blockchain. The primary outcome is the maximization of capital efficiency in stacked digital assets, unlocking liquidity from staked assets, and providing multiple streams of yield simultaneously.
Existing users on the Ethereum blockchain can mint eUSD by depositing their ERC20 stablecoins into RAMP’s eUSD liquidity pool. This means that holders of rUSD and eUSD can freely exchange, lend, or borrow these tokens, creating liquidity for users whose capital is locked in staking arrangements.
The creation of RAMP was a response to the rapid growth of the staking economy, exceeding $300 billion by 2021, and the inefficiency of its markets.
To efficiently enhance token exchanges between blockchain systems, the network utilizes open/close liquidity designs. Tokens using a non-Ethereum standard are first transformed into stablecoins called rUSD for use on the Ethereum blockchain.
ERC-20 based stablecoins can also be converted into eUSD for use in Ramp DeFi’s liquidity pool. rUSD holders gain the ability to use funds locked in non-Ethereum blockchains and earn staking incentives after conversion to fully collateralized stablecoins. eUSD holders get the chance to lend their digital assets to earn interest and provide liquidity within DeFi protocols.
On the other hand, RAMP was co-founded by Lawrence Lim and Loh Zheng Rong. Before RAMP, Lim was heading international growth at IOST and responsible for global sales at TradeGecko.
How to Buy RAMP Coin?
RAMP Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy RAMP Coin, one must first register on Binance and then send fiat currency. After sending a fiat currency like Turkish Lira or dollars, one can buy Bitcoin (BTC), Tether (USDT), and BUSD to trade in the RAMP trading pair.
In addition, on Binance, users can place buy orders not only at market value but also at a lower value. For this, using the Limit tab and entering the amount and price you want to buy will suffice.
