RAMP Partners with TomoChain for Stake Farming and Cross-Chain Liquidity Unlocking
RAMP DEFI is excited to announce our partnership with TomoChain for stake farming and cross-chain liquidity unlocking.
TomoChain is a scalable blockchain-powered via Proof-of-Stake Voting consensus and used commercially by companies globally. The TomoChain blockchain and product ecosystem enable development of high-performance blockchain projects, with an array of original features and protocols designed to support speed, privacy, usability, and liquidity needs all in one platform.
Partnership Synergies Between TomoChain and RAMP
RAMP DEFI focuses on unlocking liquid capital from staked digital assets. Our solution allows TOMO users to extract additional liquid capital without giving up their staking rewards or capital appreciation potential.
Using RAMP smart contracts, users collateralize their TOMO into a native stablecoin, tomoUSD, on the TOMO network. Users then exchange the tomoUSD for rUSD, a 1:1 representation of stablecoin value on the Ethereum network.
TomoBridge, which acts as the cross-chain bridge between TomoChain and Ethereum, plays a crucial role in ensuring this cross-chain liquidity transfer.
TomoChain users holding rUSD can borrow/exchange for fiat-equivalent stablecoins such as USDT to invest into new opportunities.
We’re excited to partner with RAMP DEFI to offer TomoChain holders with a form of asset flexibility that will enable a plethora of new financial options. RAMP DEFI is evolving the concept of ‘soft staking’ developed by centralized exchanges in an innovative way that is also trustless. TomoChain stakers will be able to unlock the liquidity representing their stake, while continuing to secure the TomoChain blockchain network and earn passive returns, all at the same time. Providing TomoChain holders new options to manage and utilize their assets is part of the open finance future we are working towards, so I’m really looking forward to the various opportunities that integrating with RAMP DEFI will avail for our community.
Kyn Chaturvedi, CBDO, TomoChain
Benefits for TOMO Holders
In this partnership with RAMP, TOMO users can expect to receive the following benefits:
- Retain TOMO staking rewards;
- Retain capital gains potential on holding TOMO;
- Gain access to liquid capital to invest in new opportunities without needing to inject additional capital; and
- Earn RAMP tokens and enhance asset yields by actively participating in the RAMP ecosystem.
Technical, Marketing and Growth Collaborations
RAMP DEFI and TomoChain shall work closely on technical development of smart contracts powering the staking, minting and liquidation functions, and ensure that these smart contracts are secure for use by the TOMO community.
TomoChain will also list RAMP on TomoDEX, the first decentralized exchange powered by the TomoX protocol. More details on the listing shall be provided in a separate announcement.
Both networks also have plans to undertake co-marketing campaigns and community programs to build a tight-knit community. Together, RAMP and TomoChain look forward to creating next-generation DeFi use cases for the crypto ecosystem.
We are excited to partner with TomoChain as they have all the foundational DeFi infrastructure required for RAMP to be successfully implemented on. The native TOMO token also has substantial token trading liquidity on leading exchanges and a friendly staking program, which makes it an excellent fit for integration with RAMP.
Lawrence Lim, Project Lead, RAMP DEFI
Measuring Success by Total Value Unlocked (TVU)
Many DeFi solutions that seek to lock up liquidity and measures their success by Total Value Locked (TVL). This means that within the Ethereum network, all these different solutions are competing for the same dollar.
RAMP DEFI focuses on unlocking liquidity from staked assets to benefit the broad crypto ecosystem, which represents a “blue ocean” in the DeFi space. As a pioneer in driving this liquidity extraction, RAMP DEFI measures its success by Total Value Unlocked (TVU), which tracks the liquidity it is adding to the global decentralized finance economy.
With approximately USD21 million in staked TOMO as at time of writing, this represents the potential market size of liquidity that can be unlocked from the TOMO ecosystem by TOMO holders.
TomoChain is a scalable blockchain-powered via Proof-of-Stake Voting consensus and used commercially by companies globally.
TomoChain’s mission is to accelerate the onboarding of millions of users by empowering today’s applications with technology that masks the friction of Blockchain, all while retaining its underlying benefits. TomoChain’s technology and DeFi-focused flagship products include:
- Fast & Near-Zero Fees: 2000 TPS, 2-second block time, ~$0 gas fees, and EVM compatible.
- An array of original features and protocols is designed to support speed, privacy, usability, and liquidity needs all in one platform.
Find TomoChain on:
Join the RAMP DEFI Community
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.
The addressable market for staked assets today is upwards of USD25bn, and as the industry-leading solution, RAMP DEFI has a vision of unlocking USD1bn or more in “Total Value Unlocked (TVU)” for users by end 2021.
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
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