TomoChain & RAMP DEFI — extending stake farming and cross-chain liquidity unlocking.
TomoChain is excited to announce our partnership with RAMP DEFI to extend stake farming and cross-chain liquidity unlocking.
Partnership Synergies Between TomoChain and RAMP
RAMP DEFI focuses on unlocking liquid capital from staked digital assets. TOMO users will be able to extract additional liquid capital without having to give up their staking rewards or capital appreciation potential.
How it works:
- 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.
- TomoChain users holding rUSD can then borrow/exchange for fiat-equivalent stablecoins of choice (USDT/USDC/TUSD/DAI) to invest into new opportunities.
TomoBridge, which acts as the cross-chain bridge between TomoChain and Ethereum, plays a crucial role in ensuring this cross-chain liquidity transfer.
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;
- Earn RAMP tokens and enhance asset yields by actively participating in the RAMP ecosystem.
Technical, Marketing and Growth Collaborations
TomoChain and RAMP DEFI 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 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.
TomoChain & RAMP DEFI will also join hands to unite the two communities & extend our services worldwide through co-marketing campaigns & community programs. Both parties look forward to creating new DeFi use cases to head towards mass adoption.
“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, TomoChain’s CBDO.
“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 of RAMP DEFI
About TomoChain
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:
- Website: tomochain.com
- Telegram: t.me/tomochain
- Twitter: twitter.com/TomoChainANN
About RAMP DEFI
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
