RAMtoken is our first product and the first of our key contributions to the EOS ecosystem under ChainRift EOS. This was made possible in conjunction with the ZeroPass team, which we’re proud to announce have officially been onboarded to ChainRift EOS.
What is RAMtoken?
RAM is required by developers to store the data used in the launching and production of decentralized applications (dApps). RAM, in this case, refers to general storage space in the EOS memory database, and can also be used to create new accounts.
- RAMtoken is an open source smart contract that buys RAM from the system contract and issues a fully backed and tradable token.
Spikes in demand for RAM create volatility and opportunity for traders who can spot the calm before the storm. The problem is, it’s not always easy to find a proper tool, with very few places making RAM trading available, and hassle-free. We are excited to be part of the solution here as we focused on making RAM trading as simple as any other EOS token － allowing RAM to be listed on all exchanges and leveraging the existing infrastructure that gives traders the ability to automate their trades further.
Here are some key features of RAMtoken:
Convert to RAMtoken (RAM) and back to EOS RAM with minimal effort.
80% Less Fees
RAMtoken charges a 0.1% trade fee VS system contract of 0.5% for buy and sell side (1% total)
No trade slippage
RAMtoken pool does not match trades when liquidity is asynchronous, lowering/eliminating slippage from the equation.
Why is there slippage normally?
Existing tools allow EOS RAM to only be bought on-chain through the Bancor Protocol, whose purpose is to enable automatic price determination and an autonomous liquidity mechanism for tokens on smart contract blockchains.
The downside to this is that there is increased slippage due to asynchronous liquidity. In a classic exchange model, as is the case with RAMtoken, buyers and sellers are matched to each other and there must be sufficient liquidity for two orders to be matched at any time.
With the Bancor relay, buys and sells are processed immediately upon issuance by converting them via their connector balances, leading to a constantly changing price due to slippage.
ZeroPass joins ChainRift
Being a small team has helped us being big in collaboration － sharing beliefs and brainstorming moments on a regular basis and wasting less time on unproductive routines and traditional corporate bureaucracy. The beauty of it is being able to co-create with people of different skills sets who add value to all of our different projects. We’re here to give rise to multiple projects and services by bringing interesting ideas and tools to life － this requires both passion and proactivity from all of our hires.
One of our main focuses going forward being our EOS Block Producer candidacy, we’re excited to announce that we’ve onboarded the ZeroPass team, which comprised of Luka, a researcher in the crypto space and two experienced C++ developers, Črt and Nejc. We’re happy to have them onboard, helping us to accelerate ChainRift EOS’s value proposition.
Luka is the founder & CEO of ZeroPass (a private key recovery manager) and his areas of specialization include data security and the enforcement of high privacy standards for his end-users. With all that, Luka definitely brings with him a wealth of experience and knowledge.
Together, we’ll be able to build on the EOS.io platform and develop dApps the community demands with greater efficacy, starting with RAMtoken.
Learn more about RAM token here:
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