We are happy to share that RAMP will work with EasyFi to onboard RAMP’s rUSD, a stablecoin issued on the Ethereum blockchain, as a yield-bearing collateral on the supply side of the EasyFi V1 Protocol.
What is rUSD?
rUSD is a RAMP DEFI issued derivative stablecoin on the Ethereum blockchain that represents collateralized staked liquidity. Users who deposit yield-bearing assets into RAMP smart contracts, can mint rUSD stablecoin on the Ethereum network against their assets. This is done when the assets deposited are redeployed into staking or yield farming by the smart contracts on their behalf.
These newly minted rUSD can be deployed into DeFi protocols to stack multiple yield streams, generating higher income yields for users — which is exactly what the partnership is all about.
rUSD Liquidity Integration with EasyFi’s L2 Money Markets
The addition of rUSD is expected to enhance liquidity flows on EasyFi, a layer 2 DeFi platform built on Matic Network (now known as Polygon).
rUSD users can expect the following:
- rUSD generated on the RAMP staking smart contracts will be listed on the supply markets of EasyFi Protocol V1. https://app.easyfi.network/#/lending/dashboard
- rUSD holders can then supply them into the corresponding token market to earn yield.
- Holders of rUSD can supply this collateral on our platform, earn yield and also borrow other stablecoins like DAI, USDC and USDT from the borrow side of the V1 protocol. This will enhance and maximize capital efficiency on staked digital assets in the entire DeFi space.
Through this collaboration, we expect DeFi users to get a wider range of yield farming and lending / borrowing options powered by staked assets liquidity.
Speaking on this partnership, Anshul Dhir, CoFounder & COO said, “Collateralized staked digital assets from staking programs are fast becoming the best way to optimize illiquid capital and bringing them on to money markets for better yield generation and maximized use. We are very happy to join hands with RAMP DEFI in this endeavour and adding their rUSD token to our derivative asset lending markets for Layer 2 DeFi users. ”
RAMP is excited to work with EasyFi for stage 2.0 of its #DoMoreWithDeFi vision that also launched derivative asset lending on a Layer 2 DeFi platform.
Lawrence Lim, CEO, RAMP DEFI, added, “The movement of blockchain activity into layer2 networks would greatly help users to execute faster transactions with lower fees, in particular given the expensive gas fees on Ethereum. Liquidity truly becomes global when it becomes chain-agnostic, and we are excited to work with EasyFi to onboard rUSD into the Polygon Network, and help users to participate in DeFi with significant less friction via EasyFi’s money markets.”
Join the RAMP DEFI Community
Backed by world-class investors, RAMP DEFI is a global decentralized finance protocol that increases users’ returns on assets by collateralizing yield-bearing staked digital assets into a liquid stablecoin.
Using the RAMP solution, users with staked assets can continue to receive staking rewards, retain capital appreciation potential on their staked portfolio, and unlock liquid capital to invest in new opportunities at the same time.
The total staking market cap as of today is over USD300 billion, and as the industry-leading solution, RAMP DEFI has a vision of unlocking USD1 billion or more in “Total Value Unlocked (TVU)” for users by end 2021.
Follow RAMP DEFI, get in touch with the project team members and join our community in the following official channels:
- Twitter: https://twitter.com/RampDefi
- Telegram: https://t.me/rampdefiofficial
- LinkedIn: https://www.linkedin.com/company/rampdefi
- Discord: https://discord.gg/WY5TU7b
- Medium: https://medium.com/rampdefi
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