Amongst the DeFi scene, there are a few things to look at when considering a project. The use case, team, token supply, and partnerships should all be scrutinized prior to investing or speculation. The team at RAMP has been building out all of these parameters, with their sights set on the future. Following their development cycle and previous successful capital raises, their token has launched 20 Oct 2020, 10 pm Singapore Time.
This week the RAMP public tokens sold out within minutes with over 6000 participants and 3000 submissions received over 5 minutes. 132 recipients, or 80%, elected to lock their tokens for 30 days, removing them from the circulating supply for that time. November 12th will be the soonest the holders will be able to trade their stash, timed to coincide with the beginning of yield farming on the newly opened RAMP rPool.
The rPool and other yield farms will benefit from RAMP’s most recent partnership with AllianceBlock. AllianceBlock is a layer-2 solution that automates the “process of converting any digital or crypto asset into a bankable product.” Quickly evaluating and being able to extract capital from an NFT could make assets similar to Crypto Kitties or Terra Virtua’s NFTs even more valuable. Not only will this let NFTs continue to be a store of value, but also be able to lend that capital out to create additional APY similar to rPool.
The RAMP token is now available on three exchanges: MXC, Gate, Bibox, and Uniswap. Exchanges listed the tokens at the pre-sale price of 0.008 USDT. Coordinated launches including Uniswap are somewhat rare, as one of the perks of Uniswap is the ability to launch any ERC-20 token.
Other tokens will eventually be supported by the RAMP team. Users will be able to receive rUSD for staking tokens. Farming with rUSD on the rPool is a way for users to earn additional rewards on tokens they are already staking.
With its successful public sale and new partnerships, RAMP has begun to gain attention in the DeFi industry. Unlocking the $25 billion in staked capital is just the beginning of what DeFi has to offer. The industry is established enough to gather attention, but new enough to invite innovation and further disruption. With its token now out in the wild, RAMP may be just the project to unleash a new generation of yield farms and APY.
RAMP DeFi Twitter – https://twitter.com/RampDefi
Injective Labs Twitter – https://twitter.com/InjectiveLabs
The Daily Chain
*Disclaimer – RAMP is our Media Partner, and this content is made possible with their support. The above article does not represent financial, investment, or trading advice and we do not recommend the purchase of any cryptocurrency or product without consulting a financial aid. The Daily Chain strongly encourages you to do your own research before making any investment decisions.