On May 12, 2021, Binance added the RAMP/BUSD liquidity pool to the Binance Liquid Swap. Notably, RAMP DeFi is a decentralized protocol that aims to boost the adoption of DeFi by allowing the users to stake tokens on the Ethereum platforms, even if they are non-Ethereum users.
The staked capital of non-Ethereum users is allowed to be collateralized into rUSD stablecoin, which is issued on the Ethereum blockchain. The holders of rUSD can use the funds locked in no-ETH blockchains and can use the fully collateralized stablecoins to earn the staking incentives. It primarily maximizes the capital efficiency on the staked currency, and the users can unlock liquidity from the staked crypt, stack the multiple yield streams at a single time, and earn the staking rewards.
Additionally, the Ethereum users can deposit their ERC20 tokens into the eUSD liquidity pool of RAMP to mint the eUSD. It would mean that the holders having eUSD and rUSD can lend, exchange or borrow the tokens easily and create liquidity for the users.
The platform is unique because it can power the token exchanges between blockchains very efficiently. The network is collaborated with the crust Network to secure the data storage. Crust Network uses the incentive layer protocol for decentralized storage and is adaptable to multiple storage layer protocols.
The RAMP network aims to build a robust and decentralized infrastructure for making crypto apps. The network’s goal is to build a future where everyone can efficiently use internet services to exchange values.
The native token of RAMP DeFi is RAMP coin, and there are around more than 176 million coins in circulation as of now. The market price of RAMP, at the time of writing, is 0.4872 after a decrease of 10.51% over 24-hours.
Recently on May 11, RAMP has started using the decentralized oracle networks of Chainlink to have access to high-quality price data. Also, it will leverage the blockchain-agonistic Price feeds of Chainlink for supporting the upcoming multi-chain expansion of the liquidity platform of RAMP.
The crypto has been listed on many exchanges, including Binance, HitBTC, Bibox, Gate.io, and MXC.Com. RAMP DeFI is constantly updating its platform to make it a better place for the users.