RAMP DEFI Collaborates with PIDAO To Grow Reserve Treasury Bonds
Note: RAMP has not reviewed the code used for Pidao. We understand that the codebase used is a fork of Ohm protocol and is pending an independent audit. Users are advised to undertake research and due diligence prior to participation. Please do not participate if in doubt. RAMP will not be responsible for losses if any.
We are delighted to announce our latest collaboration with PIDAO, a decentralized reserve currency protocol based on the PID token which is backed by a basket of assets (e.g. BUSD, USDT, USDC) in the PIDAO treasury, giving it an intrinsic value that it cannot fall below.
About the Collaboration
Community-governed, PIDAO allows users to bond reserve currency tokens in return for discounted PID tokens. Reserve currency tokens include BUSD and PID-BUSD. In this collaboration with RAMP, PID-rUSD LP tokens can be used for bonding with the PIDAO treasury.
Users can bond PID-rUSD LP on the PIDAO platform to purchase PID at a discount. The PID-rUSD LP exchanged by PIDAO will be locked up long-term as the reserve assets to back PID value, helping to strengthen the treasury for the PIDAO protocol.
How to Participate in PIDAO Bonds?
- Users will have to get rUSD first. There are three ways:
- Yield farmers can deposit assets on the RAMP platform to borrow rUSD using their assets as collateral.
- Yield farmers can purchase rUSD via PancakeSwap or QuickSwap.
- Ramp users can swap their assets for rUSD directly in the Ramp platform.
2. For users looking to bond PID-rUSD tokens, head to PancakeSwap, buy PID, and add liquidity to the PID-rUSD LP pair.
3. Head over to PIDAO Bonds. Bond your PID-rUSD LP tokens with the PIDAO treasury to receive PID tokens at a discounted rate.
Stake PID Tokens for High APY!
Users can stake their PID tokens back into PIDAO, enjoying APY more than 250K%!
PIDAO is a decentralized reserve currency protocol based on the PID token. Each PID token is backed by a basket of assets (e.g. BUSD, USDT, USDC) in the PIDAO treasury, giving it an intrinsic value that it cannot fall below. PIDAO also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.
Join the RAMP Community
Backed by world-class investors, RAMP DEFI is an optimized lending platform that aims to give users the highest deposit yields and lowest borrowing fees on collateral assets within Binance Smart Chain and Polygon.
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.
RAMP is backed by Alameda Research, ParaFi Capital, Mechanism Capital and other renowned investors, with a highly experienced team well-versed across finance, cybersecurity, and Dapp development who have started in crypto since 2017.
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