What Is Ramp (RAMP)?
Ramp (RAMP)is a multi-chain lending decentralized finance (DeFi) platform that seeks to maximize capital efficiency on users' assets. On the platform, users can borrow against their collateral assets. Collateral are the assets pledged for security. The project also allows users to earn yields on their deposited assets while borrowing rUSD stable coin.
Running on Binance Smart Chain (BSC), Ramp aims to empower users to access a global blockchainliquidity network. Users can mint stable coins against their deposited assets and pursue new investment opportunities. They can transfer rUSD stable coin liquidity across multiple blockchain networks.
The platform aims to offer unique features:
Digital Assets Deposits: The platform allows users to deposit different kinds of digital assets such as BNB, CAKE, RAMP, Pancake, Liquidity Pool (LP) tokens, and mint rUSD, a stable coin, by collateralizing these asset deposits.
Optimized Lending: The platform gives users high deposit yields and low borrowing fees on collateral assets within BSC and Polygon, where rUSD stable coin can also be minted. Mintingis borrowing rUSD while using the underlying assets as collateral.
Borrow Stable Coin Liquidity: The project allows users to directly utilize their rUSD stable coin liquidity on an AMM (Automated Market Maker), such as PancakeSwap or QuickSwap to swap for any token assets. PancakeSwap is adecentralized exchange (DEX) built on BSC. QuickSwap is a decentralized exchange built on the Polygon network.
Cross Chain rUSD Stable Coin Transfers: The borrowed rUSD stable coin can be transferred seamlessly between Binance Smart Chain (BSC) and Polygon networks to access new tokens.
RAMP is a native token of the project that serves as a utility function to incentivize community involvement, align user behaviours with protocol objectives, or bootstrap the growth of liquidity pools. RAMP is a collateral asset that can unlock additional liquidity by minting an rUSD stable coin. Further, RAMP is also used as a governing token for community governance to participate in the project's strategic growth and planning by voting.
History of RAMP
The RAMP collateralized token was launched in April 2021. The project is supported by the BSC, Polygon, Solana, and Polkadot blockchains. The project has received backing from many venture capitalists like Alameda research, Parafi capital, MW partners, Blockwater capital, and more.
The token RAMP has a total supply of two hundred million. This supply cannot be minted further, i.e., any RAMP burned is removed from circulation forever. Cryptocurrency burning is when a fraction of tokens are sent to a crypto wallet with no private key. Tokens are usually burnt to reduce availability and increase market value. The platform accrues positive value back to the RAMP token through these token burns.
