Long
RAMP Integrates with ChainLink PT: $10
ChainLink Integration
Chainlink’s Integration with RAMP’s Multi-Chain Staked Liquidity Platform
RAMP DeFi is excited to announce our live integration of the market-leading Chainlink Price Feeds on both the Ethereum and Binance Smart Chain (BSC) mainnets.
RAMP DeFi is using Chainlink’s decentralized oracle networks to gain access to high-quality price data, which is made available on-chain using tamper-proof and highly available infrastructure. This data is being used within the RAMP V2 App, as well as to support other DeFi protocols wanting to offer support for RAMP assets.
Additionally, RAMP shall leverage Chainlink’s blockchain-agnostic Price Feeds to support the upcoming multi-chain expansion of RAMP’s staked liquidity platform.
Chainlink is the most widely-adopted decentralized oracle solution, providing time-tested price feeds that already secure billions of dollars in value for leading DeFi protocols. Most notably, Chainlink Price Feeds are purpose built and historically proven to protect user funds against unexpected vulnerabilities, such as API downtime, flash crash outliers, and data manipulation attacks like those carried out through flash loans.
Chainlink has added mainnet support for a RAMP-USD Price Oracle on both Ethereum and BSC, enabling the RAMP token to be seamlessly integrated into other DeFi applications, whether as a form of collateral, loanable asset, or synthetic asset.
This will greatly expand the utility of the RAMP token by having a reliable price oracle available to the wider DeFi ecosystem.
Chainlink documentation: data.chain.link/ramp-usd
Using Chainlink Oracles For Reliable On-Chain Price Data on RAMP V2
The RAMP V2 platform allows users to deposit assets into its auto-compounding vaults to earn ultra high yield, while borrowing against these assets simultaneously for additional liquidity to leverage higher returns.
As an example*:
CAKE users can deposit CAKE into RAMP vaults, which auto-compounds CAKE for users at over 100% APY in the Pancake syrup pool.
At the same time, the user can mint $333 in rUSD against every $1000 of CAKE deposited.
This $333 can be swapped at <0.1% slippage for BUSD / USDT / USDC in the rUSD liquidity pools, which can in turn can be sent to Binance to trade for additional gains, or even be off-ramp into fiat for real-world purchases.
This allow users to (a) stay long on assets they are optimistic on, (b) yield farm and continue to generate passive income on these assets, even as (c) they unlock liquidity for other purposes.
*Cake vault is expected to launch on 12 May 2021.
Chainlink Price Feeds are already in use within RAMP V2, providing reliable asset pricings and allowing accurate maintenance of collateralization and liquidation ratios of minted rUSD positions. This in turn, ensures the overall integrity of the RAMP protocol.
The RAMP V2 platform is expected to expand support for a range of major digital assets including BTC, ETH, BNB, LINK, as well as rapidly growing DeFi ecosystems such as Polkadot and Solana in the near future.
To learn more about RAMP V2: docs.rampdefi.com/rampdefi/
https://medium.com/rampdefi/chainlink-adds-ramp-usd-price-oracle-and-secures-ramps-multi-chain-staked-liquidity-platform-9ea8294ae02a
Chainlink’s Integration with RAMP’s Multi-Chain Staked Liquidity Platform
RAMP DeFi is excited to announce our live integration of the market-leading Chainlink Price Feeds on both the Ethereum and Binance Smart Chain (BSC) mainnets.
RAMP DeFi is using Chainlink’s decentralized oracle networks to gain access to high-quality price data, which is made available on-chain using tamper-proof and highly available infrastructure. This data is being used within the RAMP V2 App, as well as to support other DeFi protocols wanting to offer support for RAMP assets.
Additionally, RAMP shall leverage Chainlink’s blockchain-agnostic Price Feeds to support the upcoming multi-chain expansion of RAMP’s staked liquidity platform.
Chainlink is the most widely-adopted decentralized oracle solution, providing time-tested price feeds that already secure billions of dollars in value for leading DeFi protocols. Most notably, Chainlink Price Feeds are purpose built and historically proven to protect user funds against unexpected vulnerabilities, such as API downtime, flash crash outliers, and data manipulation attacks like those carried out through flash loans.
Chainlink has added mainnet support for a RAMP-USD Price Oracle on both Ethereum and BSC, enabling the RAMP token to be seamlessly integrated into other DeFi applications, whether as a form of collateral, loanable asset, or synthetic asset.
This will greatly expand the utility of the RAMP token by having a reliable price oracle available to the wider DeFi ecosystem.
Chainlink documentation: data.chain.link/ramp-usd
Using Chainlink Oracles For Reliable On-Chain Price Data on RAMP V2
The RAMP V2 platform allows users to deposit assets into its auto-compounding vaults to earn ultra high yield, while borrowing against these assets simultaneously for additional liquidity to leverage higher returns.
As an example*:
CAKE users can deposit CAKE into RAMP vaults, which auto-compounds CAKE for users at over 100% APY in the Pancake syrup pool.
At the same time, the user can mint $333 in rUSD against every $1000 of CAKE deposited.
This $333 can be swapped at <0.1% slippage for BUSD / USDT / USDC in the rUSD liquidity pools, which can in turn can be sent to Binance to trade for additional gains, or even be off-ramp into fiat for real-world purchases.
This allow users to (a) stay long on assets they are optimistic on, (b) yield farm and continue to generate passive income on these assets, even as (c) they unlock liquidity for other purposes.
*Cake vault is expected to launch on 12 May 2021.
Chainlink Price Feeds are already in use within RAMP V2, providing reliable asset pricings and allowing accurate maintenance of collateralization and liquidation ratios of minted rUSD positions. This in turn, ensures the overall integrity of the RAMP protocol.
The RAMP V2 platform is expected to expand support for a range of major digital assets including BTC, ETH, BNB, LINK, as well as rapidly growing DeFi ecosystems such as Polkadot and Solana in the near future.
To learn more about RAMP V2: docs.rampdefi.com/rampdefi/
https://medium.com/rampdefi/chainlink-adds-ramp-usd-price-oracle-and-secures-ramps-multi-chain-staked-liquidity-platform-9ea8294ae02a
Note
This opens RAMP to a much wider DeFi ecosystem w/in the LINK network and offers the next step in RAMP's development plan of creating a cross-chain derivatives market.Note
The RAMP V2 platform is expected to expand support for a range of major digital assets including BTC , ETH, BNB, LINK, as well as rapidly growing DeFi ecosystems such as Polkadot and Solana in the near future.Note
Got an update from the team - they are adding MATIC / Polygon next to their protocol ... that's actually a very big development imho... bigger than LINK
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.