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GAINS Associates

RAMP DEFI — Telegram QUIZ & AMA — August 25

On Tuesday, August 25, we had the pleasure to welcome to our Telegram chat:

Lawrence Lim , Co-Founder & Project Lead of RAMP DeFi.

We asked him questions about the development of RAMP DeFi.

Some sentences have been slightly edited for readability but the meaning has been conserved.

Summary

RAMP DeFi is a decentralized finance solution that focuses on unlocking liquid capital from staked digital assets. Users can extract liquid capital from their staked portfolio while still earning staking rewards and retaining ownership.

RAMP’s stablecoin, rUSD, functions as a bridge between non-ERC20 platforms and the Ethereum chain. Users can collateralize their portfolio of staked assets into a common stablecoin standard, rUSD. Users can deposit their ERC20 tokens in RAMP’s liquidity pools to mint eUSD. eMint allows the deposit of ERC20 stablecoins to create eUSD

rUSD and eUSD holders can freely lend and borrow from each other. Users can vote by staking.

Introduction

Q — Alex Raffin from GAINS: Can you tell us what you did before crypto, how you got into crypto, and if you’ve had any other venture in crypto previous to being involved with RAMP DeFi?

A — Lawrence from RAMP DeFi: It’s an exciting time to be in crypto and DeFi right now!

I started my career in traditional finance in private banking and corporate M&A. Worked in some of the financial institutions including JP Morgan, BNP Paribas, and KPMG

That was for a period of around 5 years, then I made the switch into tech and blockchain

I spent the last couple of years with IOST, a layer 1 blockchain solution. From pre-testnet to mainnet to growing a staking ecosystem of over 30m.

Lawrence Lim — RAMP DeFi

Q — Alex Raffin from GAINS: You’re in crypto and building an alternative financial ecosystem. How useful are some of the experiences you acquired there?

A — Lawrence from RAMP DeFi: I think blockchain involves a lot of financial knowledge, so my understanding of complex financial products and financial modeling came in really helpful. It’s the ideal mix of finance and technology really. And IOST was helpful as I went through a “cycle” of developing a blockchain from scratch to a fully functioning ecosystem. Really thankful for the experiences that eventually lead to RAMP :)

Product

Q — Alex Raffin from GAINS: Can you tell us what your role is at RAMP DeFi and what the project is about in a few simple sentences

A — Lawrence from RAMP DeFi: I am the Project Lead of RAMP DeFi. Together with my co-founders, we wrote the whitepaper for RAMP from scratch and designed the various mechanisms inside.

We like to think that we are a community project, so rather than fancy C-level titles, different functional leads are how we like to see ourselves. Serving a specific function on behalf of our community.

RAMP DeFi focuses on unlocking liquid capital from staked assets. There is $22bn worth of staked assets now. Our solution allows users to extract liquid capital from their staked portfolio while still earning staking rewards and retaining ownership.

Have your cake and eat it.

Q — Alex Raffin from GAINS: Will there be a DAO one day? How involved can the community be?

A — Lawrence from RAMP DeFi: Yes! We will decentralize it for the community. RAMP tokens also represent governance. We are simply executors of our community vision.

Q — Alex Raffin from GAINS: What stage is the project? The “friendly liquidator” for example, is it only on paper, have you started developing it, testing it, etc.?

A — Lawrence from RAMP DeFi: We are already in co-development stages with several blockchain partners. Two have been announced and there are more lined up over the next two weeks to be shared.

Implementation will be in phases. So the first part is to connect up the dots into a cross-chain liquidity network, let users start yield farming first, and then subsequently build out the other mechanisms

Q — Twitter user @Zygote_INCUBUS: Can you discuss the roles of the RAMP token in the RAMP DeFi Ecosystem? What are the advantages of a RAMP token to the owner/investor? Do they also have the right to vote on important decisions to be made for the company in the future?

A — Lawrence from RAMP DeFi: Yes for sure. So the utility of the RAMP token are as follow:

  1. Governance — Users can stake RAMP to raise a Change Proposal. Users can vote by staking as well. This helps to decide the direction of the project and align us with stakeholders.
  2. Value Distribution — RAMP has a business model. This is that all the staked assets contribute a small percentage of their staking rewards into the rPool, which acts as a shared interest pool. Regular distributions will be given out to RAMP token holders who stake their RAMP tokens. Hence there is real value creation there.
  3. Farming Power — 45% of the total supply is reserved for farming. If you stake RAMP tokens, you farm more on the same value of staked assets. So this creates a positive cycle for you to stake, earn yield and farm RAMP, re-stake, earn even more yield and even more RAMP

Q — Alex Raffin from GAINS: How will the token capture the value of the ecosystem you’re building?

A — Lawrence from RAMP DeFi: The more users use RAMP, the more the value of staked assets in RAMP increases. Hence the size of the staked interest pool and the distributions will also increase.

Q — Alex Raffin from GAINS: Do you have an estimate of the APR when staking RAMP?

A — Lawrence from RAMP DeFi: We will be releasing this at a later stage. It will DeFinitely be very attractive to users in the ecosystem as our “seed”.

Q — Twitter user @RogerZamoraZ: How is rUSD different from eUSD and how do both currencies work within the RAMP DeFi betting systems?

A — Lawrence from RAMP DeFi: The simplest way to look at it is that rUSD is a stablecoin representation of the staked assets within the other blockchain ecosystems, and eUSD is a representation of the fiat-backed liquid capital in the Ethereum ecosystem

The key is to allow these two representations “mesh” together through borrowing/lending and free trade. This way you will allow the values of the various blockchain ecosystems to interact and mix as one, thereby increasing the entire size of the DeFi ecosystem.

Q — Telegram user Ashwini: What differentiates RAMP from Stafi?

A — Lawrence from RAMP DeFi: So the key here is the moving of value versus moving of assets. RAMP is moving value while Stafi is moving assets, but assets have different attributes. For example, if you move 10 EOS and 10 TRX to Ethereum, they have different values to them.

What RAMP does is we collateralize a defined fungible value. Fungible means that 1 rUSD is the same as another rUSD. In comparison, 1 EOS ≠1 TRX. Thus moving assets do not move value entirely.

We believe for value to interact properly, value transactions must take place in a fungible form. Therefore, the rUSD is important as the 1:1 exchange/trade with liquid capital like USDT/USDC.

Q — Alex Raffin from GAINS: Could we say you’re a fungible Stafi?

A — Lawrence from RAMP DeFi: To put it more diplomatically, I think we are addressing cross-chain in different ways.

Essentially, RAMP can function as an ecosystem on its own, without being reliant on a lending platform such as Compound, which takes in wrapped assets for lending/borrowing.

Q — Telegram user Emi💌: What are your expectations regarding the public sale?

A — Lawrence from RAMP DeFi: The date may shift slightly as we are in touch with exchanges. We want to make sure the token accessibility and public sale processes are smooth for our users.

There are 10,000,000 RAMP tokens to be sold in our public sale. That’s to kickstart circulation, but more importantly, we hope for your participation to farm the remaining 45% of the token supply.

Farming is very important for us as we focus on participation and ownership of the network by our users.

Q — Telegram user Olode Amotekun: What’s the difference between Total Value Locked (TVL) and Total Value Unlocked [TVU]? Why does RAMP focus on TVU?

A — Lawrence from RAMP DeFi: Basically, if you see liquidity powered DeFi solutions today, it’s all about Total Value Locked (TVL). That means all the solutions fighting for the same dollar of TVL.

RAMP looked outside of the Ethereum ecosystem and saw the “blue ocean” of value that can be unlocked in staked assets.

When this value is brought over to Ethereum, it grows the size of the entire DeFi ecosystem. This means we are “unlocking liquidity”, instead of “locking liquidity”. Hence, Total Value Unlocked (TVU).

Team

Q — Alex Raffin from GAINS: How many people are in the team?

A — Lawrence from RAMP DeFi: Currently, we have 8 in the team. We are adding more people to speed up development. Some of our partners also provide us with technical grants and financial assistance, which is helping us a lot.

Security

Q — Alex Raffin from GAINS: Does it not pose systemic risks though to unlock such capital that’s designed to stay put for insurance, initially?

A — Lawrence from RAMP DeFi: The systematic risks do exist, but only if there is a risk of a domino effect on secondary market prices. Essentially, whatever we design should not result in sell-off creating another sell-off.

In this respect, we have put in place a “friendly liquidator” insurance design in both third parties and our universal liquidity pool (rPool) product, which provides insurance against such a domino effect

If done well, RAMP will also result in systematic stability, because users are less likely to have to make capital allocation decisions, and can enjoy the best of both worlds.

Partners

Q — Twitter user @_rhythms29: What development does IOST bring into the future of RAMP DeFi? What can we as users expect from this partnership?

A — Lawrence from RAMP DeFi: I still retain a great relationship with the founders of IOST, despite having left the company. They are extremely supportive of RAMP. They have provided full support across development, marketing, community and funding, so it helped us a lot in our work.

Of course, beyond IOST we have a lot of leading institutional VCs, as well as Elrond who is also a partner and helping us across all aspects of the project.

As users, you can expect that the blockchains we work with implement RAMP as a solution and you can farm RAMP tokens in various ways.

We are really thankful to our partners.

Thanks a lot for coming! I know you’re very busy with the launch. I really enjoyed learning more about RAMP DeFi. Keep us updated and best of luck for the upcoming sale. I’m sure it’ll go well. Anything else you’d like to say? Where can we follow you? — Alex Raffin from GAINS

Thanks, I appreciate it! Join our communities for the latest updates! We would love to have you. Join any of our communities here: Website, Medium, Twitter, Discord, Telegram Announcement Channel, Telegram Group — Lawrence from RAMP DeFi

Join us now! Enjoy quality articles, daily curated news, insightful infographics, and enter a vibrant, fun, and knowledgeable community!

If you want to email us: contact@gains-associates.com.

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GAINS Associates provides you with the latest news and research in blockchain and crypto. It’s a community for everyone to learn and grow together.

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