. What is Ramp (RAMP)? Here is the RAMP Token in All Details In this article, What is Ramp (RAMP)? We will answer the question and try to present details about the project.
What is Ramp (RAMP)?
RAMP DeFi is a decentralized protocol that aims to increase DeFi adoption by allowing non-Ethereum (ETH) users to stake tokens on ETH platforms; At the same time, Ethereum users can interact with the RAMP protocol and increase their efficiency.
RAMP DeFi allows the staking capital of non-ERC-20 staking blockchains to be collateralized as a stablecoin known as rUSD issued on the Ethereum blockchain. The main consequence of this is the maximization of capital efficiency in stacked digital assets, where users earn staking rewards, unlock liquidity from staked assets, and stack multiple streams of returns simultaneously.
Users who are currently on the Ethereum blockchain can print eUSD by depositing their ERC20 stablecoins into the RAMP’s eUSD liquidity pool. This means that holders of rUSD and eUSD can freely exchange, lend or borrow both tokens, and as a result create liquidity for users whose capital is locked in staking arrangements.
The creation of the RAMP was triggered by the rapid growth of the staking economy, which exceeded $ 300 billion by 2021, along with the inefficiency of the markets of the aforementioned economy.
What Makes RAMP Unique?
The network leverages liquidity open / closed designs to efficiently support token exchanges between blockchain systems. Within this framework, tokens using a non-Ethereum standard are first converted 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. In addition to using locked funds on non-Ethereum blockchains, rUSD holders have the ability to use fully collateralized stablecoins and earn staking incentives after conversion. eUSD holders earn interest with the chance to lend their digital assets as well as provide liquidity within DeFi protocols.
The supply of RAMP in circulation is approximately 176 million tokens as of February 2021, with a maximum supply of 1,000,000,000 RAMP tokens.
How to Maintain a RAMP Network?
RAMP network cooperates with Crust Network for decentralized data storage on secure chain. Therefore, RAMP DeFi is an open finance project and has the potential to dissolve liquidity from staking-oriented digital assets, allowing all users to secure their digital assets by adhering to liquid capital.
Crust implements the incentive layer protocol for decentralized storage. It is adaptable to many storage layer protocols including IPFS and even supports the application layer. The architecture it is based on has the ability to support a decentralized computing layer and create an entire cloud ecosystem.
Ramp has been listed on Binance as of March 22, 2021.
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