What is RAMP Coin? All About RAMP DeFi Project and RAMP Coin

With the development of the decentralized finance (DeFi) trend, more and more DeFi projects are being embraced by the public. RAMP DeFi is no exception. Let’s explore the full overview of the RAMP DeFi project and the applications of the RAMP coin in the article below with Finance Solutes, and from there, consider whether this could be a potential opportunity for investors!

1. WHAT IS RAMP DEFI?

RAMP DeFi is a multi-chain DeFi protocol developed to accelerate DeFi adoption by enabling non-Ethereum (ETH) users to stake tokens on the ETH platform; at the same time, Ethereum users can interact with the RAMP protocol and increase their yield generation.

Here are some key features of RAMP DeFi:

• Earn yield while borrowing: Continue to earn returns from your deposited assets while borrowing the stablecoin rUSD.
• Boost liquidity by borrowing rUSD: Mint stablecoins backed by your deposited assets and pursue new investment opportunities.
• Cross-chain transfer of rUSD: Seamlessly move stablecoins across multiple blockchain networks.

2. HOW RAMP DEFI WORKS

First, RAMP DeFi allows users to collateralize deposited tokens from non-ERC-20 blockchains to receive rUSD stablecoins issued on Ethereum. The main outcome of this is maximizing capital efficiency on stacked digital assets, where users earn staking rewards. Additionally, this approach allows them to address the liquidity challenge of deposited assets while simultaneously earning layered yields.

Conversely, users on the Ethereum blockchain can earn eUSD by depositing their ERC20 stablecoins into RAMP’s eUSD liquidity pool. This means that through RAMP, holders of both rUSD and eUSD can freely exchange, lend, or borrow either token. As a result, liquidity is unlocked for capital that was previously locked in staking agreements.

RAMP’s innovation is driven by the rapid growth of staking services, which surpassed $300 billion in 2021.

3. HIGHLIGHTS OF THE PROJECT

To enable efficient token exchange between blockchain systems, RAMP DeFi utilizes a liquidity on/off ramp design. Within this framework, non-Ethereum tokens are first converted into stablecoins known as rUSD for use on the Ethereum blockchain.

ERC-20-based stablecoins can also be converted into eUSD for use in RAMP DeFi’s liquidity pools. This gives rUSD holders the ability to utilize deposits locked on non-Ethereum blockchains, as well as to leverage fully collateralized stablecoins and earn staking rewards after conversion.

eUSD holders earn interest from lending their digital assets as well as from providing liquidity across DeFi protocols.

4. WHAT IS RAMP COIN?

RAMP coin is issued as a utility token that powers the value of the platform and aligns the incentives of all participants.

RAMP coin has a fixed total supply and can no longer be newly minted. This means that any RAMP tokens that are burned will be permanently removed from circulation.

RAMP coin is issued as an ERC20 token on the Ethereum network. To avoid high gas fees on Ethereum, users can alternatively access RAMP tokens as BEP20 on Binance Smart Chain or as POS-RAMP on Polygon (Matic Network).

As of May 11, 2022, the RAMP coin price listed on Coin Market Cap is $0.052995 USD, with a 24-hour trading volume of $5,912,410 USD.

4.1. Basic Information about RAMP Coin

• Token Name: RAMP
• Ticker: RAMP
• Blockchain: ERC20
• Contract: 0x33d0568941c0c64ff7e0fb4fba0b11bd37deed9f
• Token Type: Utility
• Token Standard: ERC-20
• Total Supply: 1,000,000,000 RAMP
• Circulating Supply: 340,764,896 RAMP

4.2. Use Cases of RAMP Coin

• Governance: RAMP coin is used for community governance, providing a channel for the community to participate in the strategic planning and growth of the project.
• Token Burn: Periodic token burns occur through value accumulation from protocol usage.
• Collateral Asset: RAMP coin can be used as collateral to unlock additional liquidity.
• Interest-Free rUSD Minting: Mint rUSD at zero fees when using RAMP coin as collateral.
• Rewards: RAMP coin rewards are used to: (a) incentivize community participation, (b) align user behavior with protocol goals, or (c) bootstrap the growth of liquidity pools.

4.3. Token Allocation Plan

• 16% allocated to Team & Advisors
• 19% allocated to Token Sale
• 20% allocated to Protocol Reserves & Partnership
• 45% allocated to Farming Reserves

5. RAMP DEFI ECOSYSTEM

Ramp aims to empower users with access to a global liquidity network. rUSD can be minted on Binance Smart Chain and Polygon, with more blockchains planned for the near future, such as Solana and Polkadot.

6. DEVELOPMENT TEAM

RAMP DeFi was co-founded by Lawrence Lim and Loh Zheng Rong.Before co-founding RAMP, Lawrence Lim served as the Head of International Client Development at IOST and led international sales at TradeGecko. He was also involved in M&A at KPMG Corporate Finance LLC and asset management at JP Morgan Chase & Co. Lim holds a Bachelor’s degree in Banking and Finance with Honors from Nanyang Technological University.

Loh Zheng Rong, on the other hand, is a co-founder of NOX Pte Ltd and a blockchain advisory partner at Merkle Ventures LLP. He has also served as the Director of Innovation at 2359 Media and a senior advisor at ICONIC Partners. Additionally, he is the CEO and co-founder of Toucanapp Pte Ltd. Loh Zheng Rong holds a Bachelor of Business Administration (B.B.A.) in Financial Management from Singapore Management University.

7. ROAD MAP

RAMP DeFi’s development roadmap for the next six months is outlined as follows. You can find detailed updates at: https://docs.rampdefi.com/ramp-defi/ 

• Support for Ethereum: Enables minting of rUSD on the Ethereum network.
• New Chain Expansion: Integrates Solana and Polkadot into RAMP’s multi-chain liquidity network.
• Liquidity Protection: Protects user funds from liquidation while maintaining the rUSD peg and simultaneously generating protocol fees.
• Auto Loan Repayment: Automatically repays outstanding rUSD debt using accumulated yield.
• “Money Lego” Integration: Supports integration of new protocols to enhance yield services and introduce new assets as lending markets. Integrations include (but are not limited to) Curve.Fi, Venus.io, and Sushi.
• Analytics: A dashboard for protocol statistics, ROI calculator, income summary, and personal wallet tracking.

8. WHERE TO BUY RAMP COIN?

RAMP coin is available for purchase, sale, and trading on several exchanges:

Centralized Exchanges:

• Bibox
• Gate.io
• Bittrex
• MXC

Decentralized Exchanges:

• Uniswap
• PancakeSwap
• QuickSwap

9. SUMMARY

The article above has summarized detailed information about the RAMP DeFi project and the utility of the RAMP coin. Key takeaways:

• RAMP is a DeFi lending platform offering users some of the highest deposit yields and lowest borrowing fees on collateral assets across Binance Smart Chain and Polygon.
• You can borrow rUSD, a stablecoin, by collateralizing your assets. You can then use rUSD liquidity directly on AMMs like PancakeSwap or QuickSwap to swap for any token you want to buy.
• While your collateral continues to earn high yield for you, the borrowed rUSD can be seamlessly transferred between networks. This means you could borrow against your Binance Smart Chain assets and send rUSD to Polygon to purchase new tokens on QuickSwap—or vice versa to buy tokens on PancakeSwap!