• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Company News

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

Thomas Delahunty by Thomas Delahunty
1 month ago
in Company News
Reading Time: 4min read
RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains
Advertisement

Participation in the DeFi and staking ecosystems has seen explosive growth over the last year, with the combined sectors currently accounting for over $50 billion in value.

DeFi growth was predominantly fueled by the breakthrough success of Ethereum-based projects such as Aave, Compound, and Uniswap, utilizing ERC20 stablecoins like USDC and Dai to generate yield. Digital assets staked on other networks were left behind, unable to participate in the emerging DeFi ecosystem.

If those stakers wanted to access DeFi without introducing new capital, they needed to unstake and sell their investments to enter the market. That meant giving up on potential capital gains and staking rewards from those assets.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Singapore startup RAMP DeFi is now pioneering an alternative solution, opening up participation in the Ethereum-based DeFi ecosystem – without giving up the future benefits of other staked digital assets. It has attracted investment from Alameda Research, IOST, and Blockwater Capital, among others.

A Cross-Chain Liquidity On/Off Ramp

RAMP DeFi’s innovative decentralized protocol solution proposes that capital staked on non-Ethereum blockchains can be collateralized into a new stablecoin “rUSD” issued on Ethereum, acting as a bridge between non-ERC20 tokens and the Ethereum chain.

By lending/borrowing, bootstrapping stablecoin liquidity, and integrating with other DeFi solutions, rUSD holders can either deploy rUSD into higher yield generating opportunities or swap into USDT/USDC. This creates a seamless on/off ramp for users with staked capital on other chains to access DeFi without giving up future potential gains or rewards from the collateralized digital assets.

How Does It Work?

For each blockchain “X” integrated, a RAMP staking node and smart contract on blockchain X are set up to manage the assets. Token X is staked in the RAMP ecosystem to continue to receive blockchain X staking rewards.

A Wrapped Token X is then issued and used to collateralize and mint a blockchain X native stablecoin, xUSD. xUSD is based on a collateralization ratio similar to MakerDAO.

xUSD can then be swapped into the ERC20 rUSD stablecoin, using the on/off ramp cross-chain bridge. From there, rUSD can be deployed into yield farming opportunities or swapped directly for other stablecoins using decentralized liquidity pools.

A Broadening Ecosystem That’s Gaining Traction

RAMP DeFi’s liquid staking solution opens up an ecosystem of services, assets, and opportunities that is already beginning to gain traction:

rStake

rStake is the part of the ecosystem where non-ERC20 tokens are staked and wrapped tokens are issued to represent the ownership of the underlying assets. It is an aggregator of staking nodes on the participating blockchains, returning 70% of the staking rewards to the user, incentivizing participation through additional RAMP governance token rewards. The remaining staking rewards generate fees for the RAMP ecosystem to help with stability.

rStake has already launched integrations for the IOST, TomoChain, and Tezos blockchains.

rMint

rMint uses the wrapped tokens issued by rStake as collateral to mint a stablecoin for the respective X blockchain (xUSD). xUSD is then swapped into ERC20 rUSD to use in the Ethereum DeFi ecosystem, earning RAMP rewards in the process.

Early adopters include Elrond, NULS, and Solana for cross-chain DeFi farming.

Vaults

The Vaults utility platform for RAMP and rUSD allows holders to stake, farm, and participate in yield stacking opportunities.

rUSD can also be swapped for USDT/USDC directly, and Vaults can connect to existing solutions such as YFI, Uniswap, or Sushi.

rKeeper

rKeeper manages the conversion of liquidated assets into stablecoins for rUSD where necessary for value support or redemptions. rKeeper converts the value of liquidated assets into USDT/USDC at the equivalent rUSD originally minted.

The repurchase of rUSD by rKeeper only takes place when rUSD is less than 1:1 with USDT/USDC, creating stability for rUSD utility.

rBurn

The fees generated by rStake are used to buy back and burn RAMP, removing tokens from circulation. rBurn is designed as a “smart burn” mechanism that again helps provide stability for rUSD as an alternative stable coin and bridge to the Ethereum-based DeFi network.

Opening Up Defi To Non-ERC20 Tokens

RAMP DeFi introduces a solution with the potential to unlock over $30 billion in a previously illiquid staked digital asset sector, set to expand fourfold with the transition to Ethereum 2.0 alone.

The RAMP ecosystem represents exciting growth potential for DeFi, harnessing existing success while opening up further possibilities for ERC20 and non-ERC20 tokens to gain access to additional yield generating services. It frictionlessly connects a range of digital assets to the decentralized finance marketplace, across an increasingly interoperable space, boosting DeFi adoption as a result.

Image by WorldSpectrum from Pixabay
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Thomas Delahunty

Thomas Delahunty

I’m Thomas J. Delahunty, born in Lancashire, England, but raised and currently residing in Columbus, Ohio where I attended The Ohio State University studying English and History. After writing in the Fintech and Forex spaces, I began to focus on blockchain and cryptocurrencies — Bitcoin in particular — in 2016. Aside from being part of NewsBTC’s journalism team, I am a writer and analyst for Ohio State’s Risk Institute at the Fisher College of Business, and run operations for two local, independent online businesses.

Related Posts

takaxa

Taraxa’s Steven Pu on the Elephant-in-the-Room Problem With Informal Transactions, and How He Drives the dApps Adoption With Slack-Inspired Go-to-Market

48 mins ago
Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

Dash Investment Foundation Considers Buying Tesla and Coinbase IPO Shares

23 hours ago
How to Maximize Your Yield Farm Gains

How to Maximize Your Yield Farm Gains

2 days ago
Fastswap

FastSwap Set for Liquidity Aggregator and Binance Smart Chain Migration

2 days ago
Algorand, OKEx

OKEx Announces Support for USDT and USDC Stablecoins on the Algorand Blockchain

3 days ago
hashbon

How to Get 0% Commission for Accepting Crypto Payments – Meet Hashbon and Its Native Token

3 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.