EasyFi & RAMP join hands to maximize capital efficiencies through Derivative Assets Lending on L2 Money Markets

EasyFi to enlist rUSD as yield-bearing collateral asset

TLDR:

• RAMP DEFI & EasyFi are entering a partnership to make RAMP’s staked derivative stablecoin, rUSD, accessible on the EasyFi lending platform as collateral.
• The onboarding of RAMP will add a new set of collaterals that will greatly enhance liquidity and maximize capital efficiencies on a layer 2 defi platform.
• The new collaterals will further strengthen the flow of liquidity between the Ethereum mainchain to Layer 2 Matic Network (now Polygon), on which our lending protocol is built.
• DeFi users will get better yield farming options with the addition of these derivatives of staked assets as collateral
• This is in continuation of the stage 2.0 of our #DoMoreWithDeFi vision that also launched Derivative Asset lending on a Layer 2 DeFi platform.

Go Long Readers..!

In continuation of our plans to introduce new derivative asset collaterals to our Layer 2 lending platform, we are extremely happy to announce that we are onboarding RAMP DEFI as our partner in this endeavour.

RAMP and EasyFi have decided to collaborate and work together to list RAMP’s rUSD — a stablecoin issued on the Ethereum blockchain — as a yield-bearing collateral on the supply side of the EasyFi V1 Protocol.

The following is what we are planning with rUSD:

• rUSD generated on the RAMP staking smart contracts will be listed on the supply markets of Protocol V1. https://app.easyfi.network/#/lending/dashboard
• rUSD holders can then supply them into the corresponding token market and earn yield on the same.
• On supplying the rUSD, the users are eligible to borrow from the stablecoin markets on EasyFi.

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.

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.

EasyFI & RAMP

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. ”

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”

About RAMP DEFI

Backed by world-class investors, RAMP DEFI is a global decentralized finance solution that focuses on unlocking liquid capital from staked digital assets. 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.

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To learn more about $EASY and EasyFi, please go through our whitepaper and other articles on this publication.

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