IOST Partners RAMP DeFi to Unlock Liquid Capital From Your Staked IOST
The IOST Foundation is excited to announce the innovative Cross-chain DeFi protocol RAMP DEFI as the first project to be a part of the Noah Oracle Fund, a special fund dedicated to incubate and foster the growth of emerging DeFi projects on IOST. At the initial stage, the IOST foundation shall supports RAMP in terms of the technical development of smart contracts powering the staking, minting, and liquidation functions, and ensure that these smart contracts are secure for use by the IOST community.
IOST, Alameda Research, ParaFi Capital, Arrington XRP Capital, Torchlight Ventures, Signum Capital, Blockwater, Ruby Capital, MW Partners, LayerX Capital and MoonRock Capital have jointly invested in a decentralized financing project with RAMP DEFI.
With RAMP DeFi’s innovative approach, IOST users can now leverage from the RAMP DEFI platform to unlock liquid capital from staked IOST without giving up their attractive IOST staking rewards.
How Can IOST Users Leverage on The Multi-Fold Benefits from RAMP DeFi?
Problems
The continued launches of innovative products with attractive returns in the DeFi ecosystem are expected to sustain DeFi’s exponential rise momentum.
While this growth of DeFi on the Ethereum network is extremely exciting, a large group of users have been unable to participate effectively or even been excluded, from Ethereum- based DeFi participation. These users are users who have capital invested into digital assets outside of the Ethereum ecosystem (non-ERC20 digital assets), and are either awaiting capital gains on this investment portfolio, or have these assets staked within the respective staking ecosystems.
Solutions
RAMP DeFi founds the pain point in the market and tackles it with their innovative protocol in which the staked capital on the non-ERC20 staking blockchains be collateralized into a stablecoin, “rUSD”, which is issued on the Ethereum blockchain via a gateway bridge. Similarly, users on the Ethereum blockchain can mint “eUSD” by depositing their ERC20 stablecoins into RAMP’s eUSD liquidity pool.
RAMP DEFI focuses on unlocking liquid capital from staked digital assets, allowing users to “recycle” staked capital without giving up their staking rewards or capital appreciation potential.
Using RAMP, users collateralize their IOST into a native stablecoin on the IOST network, and exchange this for rUSD, a representation of stable value on the Ethereum network. Users can then use rUSD to borrow/exchange for fiat-equivalent stablecoins such as USDT, USDC, TUSD or DAI, which can be used for DeFi investing, trading or even exchange into fiat for other purposes.
This way, IOST users can:
1. Retain their staking rewards;
2. Retain capital gains potential on holding IOST;
3. Access liquid capital in the form of fiat-equivalent stablecoins;
4. Explore new opportunities without injecting more capital; and
5. Farm RAMP tokens by being part of our ecosystem.
IOST x RAMP- Technical, Marketing, and Growth Collaborations
IOST and RAMP shall work closely on the technical development of smart contracts powering the staking, minting, and liquidation functions, and ensure that these smart contracts are secure for use by the IOST community. Both networks also have plans to undertake co-marketing campaigns and community programs to build a tight-knit community around IOST DeFi development. Together, IOST and RAMP are excited to develop practical DeFi utility for IOST users.
Speaking about the collaboration with IOST, MR Xin Jin- RAMP Protocol CTO highlighted:
“Essentially, RAMP Protocol allows IOST holders to lock IOST into staking, and mint a stablecoin iUSD (overcollateralized), which can also be bridged to Ethereum and used to participate in more DeFi opportunities. The collateralized IOST continues to receive staking rewards, and they can switch back into IOST anytime by closing their collateralized position and burning the iUSD
This way they can continue holding IOST, and use it to extract liquid capital at the same time.”
IOST to Foster & Lead the DeFi Space
IOST is walking the talk less than a month after updating the roadmap for the rest of 2020 which focuses on DeFi.
Gearing up to lead the DeFi space, the IOST Foundation recently officially unveiled “Noah Oracle Fund”- a 1-million-dollar fund to incubate and foster the growth of emerging DeFi projects on the vibrant IOST blockchain ecosystem.
For DeFi dApps to satisfactorily compete with traditional applications, the underlying network must be fast, meeting the objectives and expectations of the dApp developers. In the mid of competition, IOST — an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability (PoB) consensus algorithm has what it takes to build a vibrant ecosystem by offering developer-friendly features and environments.
As one of the world’s leading public blockchain platform, IOST’s original PoB consensus mechanism can ensure better scalability and faster speed on the basis of decentralization. At present, IOST mainnet has shown a peak TPS of up to 8000. IOST offers developer-friendly features that improve product development efficiency. No congestion and no high gas fees as seen in Ethereum, the reason many developers choose to launch DeFi projects on IOST. A zero transaction fee also guarantees users the convenience and accessibility of using DeFi applications on the IOST chain.
By inking symbiotic deals with strategic partners and promising on-chain projects such as PowerDeFi, otbTRADE, ProDeFi from all over the world, IOST will gradually cement its position, even supplement activities of competing platforms for the better good of the space.
Here’s an overview of IOST’s robust DeFi ecosystem
https://medium.com/iost/leading-the-new-wave-of-defi-an-overview-of-iosts-defi-cd8f17cd5f1d
Join the RAMP DEFI Community
As a young team, the RAMP team and advisors are seasoned professionals with rich experiences in blockchain and traditional finance.
RAMP DEFI is currently undergoing its private token sale round with multiple VCs and will be launching its token sale in late August / early September period.
If you are interested to follow RAMP DEFI and get in touch with the project team members, you can participate and receive timely updates from 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
For partnerships, media, or other collaboration opportunities, please email team@rampdefi.com.
About IOST
Supported by Sequoia, Matrix, ZhenFund and other world-class investors, IOST is a blockchain platform developed for online service providers, empowered by its unique, next-generation Proof of Believability consensus.
With a one-year-old mainnet, IOST has swiftly risen to become a world-leading public chain renowned for its numerous government collaborations and enterprise partnerships around the world. IOST is one of the Big Four public chains with a rich user base and real applicability alongside Ethereum, EOS, and TRON. 500,000 community members, over 20 countries worldwide, and over 400 nodes, top staking economy, and growing.
If you would like to hang out with the IOST community on chat, social media or to discuss product development, we have something for everyone:
· International English Telegram Group: https://t.me/officialios
· IOST Announcement Channel: https://t.me/iost_announcements
· IOST Official Twitter: https://twitter.com/IOST_Official
· IOST CTO Terry Wang Twitter: https://twitter.com/terrence_iost
· IOST CEO Jimmy Zhong Twitter: https://twitter.com/jimmyzhong_iost
· Slack Developer Community: https://invite.iost.io
· Uptrennd: https://www.uptrennd.com/iost
· Reddit: https://www.reddit.com/r/IOStoken
· Facebook Page: https://www.facebook.com/IOSTofficial/
· Facebook Group: http://bit.ly/IOST-FB-Group
