RAMP BSC Liquidity Incentives Launching on 30 November 2021 02:00 UTC
Liquidity Program Commencement on Binance Smart Chain
We are excited to share that the RAMP Liquidity Incentives on Binance Smart Chain shall start on 30 November 2021, 02:00 UTC time.
The RAMP collateralized stablecoin lending protocol allows users to deposit assets at high APYs while borrowing against these assets at the same time, allowing for a highly efficient leverage solution.
The goal of the liquidity incentives is to encourage users to deposit collateral and borrow rUSD on the RAMP platform. The more assets deposited into RAMP and the more rUSD minted, the more fees generated for the protocol.
The fees are then used to repurchase RAMP and remove RAMP from circulation. Rapidly scaling up TVL and generation of sufficient protocol fees is expected to make RAMP deflationary.
With this incentive program, we hope to help new DeFi users discover the RAMP platform and maximize the full value of their crypto-asset ownership in the process.
rUSD Borrowing Program
30,000,000 RAMP are allocated for rUSD borrowing taking place on Binance Smart Chain.
RAMP tokens will be distributed in accordance with the schedule below across a period of 23 months across the asset markets supported on the RAMP platform:
- 3,000,000 RAMP per month shared between rUSD borrowers for the first month (incentive period: 1 month);
- 2,250,000 RAMP per month shared between rUSD borrowers from the 2nd to 4th month (incentive period: 3 months);
- 1,500,000 RAMP per month shared between rUSD borrowers from the 5th to 12th month (incentive period: 8 months); and
- 750,000 RAMP per month shared between rUSD borrowers from the 13th to the 23rd month (incentive period: 11 months).
Users who borrow rUSD on the RAMP platform will immediately start earning RAMP incentives, which is expected to exceed the borrowing fees. rUSD minting APYs is estimated to start from as high as 1,200+% at program commencement.
This means that as a user, you get paid to borrow rUSD, even as you earn high yields on the deposited collateral and unlock liquidity at the same time.
Rewards Vesting — Choose Your Reward Option
Rewards earned are subjected to a vesting schedule to regulate the flow of emissions.
Users can choose to either claim all rewards on the spot with a 50% penalty, or vest their rewards to receive 25% immediately, and 25% each time after 30/60/90 days.
As an illustration, let's assume that Winnie earned 1,000 RAMP in incentives after borrowing rUSD:
- If Winnie decides to claim all rewards on the spot, she receives 500 RAMP into her wallet immediately and forgoes the other 500 RAMP.
- If Winnie decides to vest her rewards, she receives 250 RAMP into her wallet immediately, and can claim 250 RAMP 30 days later, 250 RAMP 60 days later and another 250 RAMP 90 days later for the entire amount of 1,000 RAMP.
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