What Is RAMP DeFi?
Before diving into the project's description, it’s important to note that, in 2022, RAMP DeFi decided to rebrand to LeverFi. You’ll find more information about this below.
RAMP is the native token of RAMP DeFi, which is a multi-chain DeFi lending protocol based on Ethereum. It allows users to transfer liquidity across different networks and get more investment opportunities. As of writing this, RAMP is compatible with Binance Smart Chain and Polygon. If you’re curious about the current RAMP price, take a look at the RAMP price chart placed above.
The RAMP crypto project features auto-compound vaults that optimize user yields. All users need to do is deposit their assets into these vaults. Besides that, RAMP allows users to get extra liquidity by borrowing collateralized rUSD stablecoins against their asset deposits.
While the assets deposited into RAMP vaults continue to grow yield, rUSD tokens can be used across different networks to purchase new tokens on various crypto exchanges. Overall, RAMP allows users to borrow rUSD liquidity while keeping the ownership of their staked assets, generate yield on deposited collateral through rUSD borrowing, and transfer rUSD liquidity across different networks.
Additionally, note that RAMP also allows users to mint eUSD stablecoins by depositing their ERC-20 tokens into the liquidity pools of the network. eUSD tokens can be used to generate income through lending, or for providing liquidity on various DeFi protocols.
Who Founded RAMP DeFi?
The RAMP crypto project was founded by Lawrence Lim and Loh Zheng Rong.
Lawrence Lim has a degree in banking and finance. Before founding RAMP DeFi, he worked in the field of corporate finance and asset management at such companies as BNP Paribas, J.P. Morgan, and KPMG Corporate Finance. Besides that, he also worked with global sales at TradeGecko and as the Head of Growth at IOST.
Loh Zheng Rong has a degree in business administration. In the past, he was the co-founder of such projects as Happybox, Gastro Couture, Singapore Tender, Goshen Electrical Enterprise, Toucan app, and NOX. Besides that, he was the Head of Product Development and Growth at Matchimi, and a senior advisor at ICONIC Partners. As of writing this, he is also a blockchain consulting partner at Merkle Venture and the CIO of 2359 Media.
Use Cases of RAMP Tokens
Overall, RAMP tokens have more than one use case. Primarily, they are used as governance tokens that allow users to vote on various changes planned for the RAMP crypto project. In addition to that, RAMP tokens can also be used as collateral assets. Besides, when used as collateral, RAMP tokens eliminate rUSD minting fees. Last but not least, RAMP coins are also used to incentivize the users of the protocol.
See the live RAMP price on its price chart above.
RAMP DeFi to LeverFi
As mentioned above, in 2022, RAMP DeFi decided to rebrand to LeverFi. Along with changing the name of the project, RAMP also changed the ticker symbol of its native token and included some new features.
Talking about new features, LeverFi enables users to employ up to 10x leverage to take either long or short positions while maximizing the value of their yield-bearing collateral.
In terms of the RAMP token ticker symbol, the project rebranded it to LEVER. Holders of the old version of RAMP have to swap their tokens for LEVER tokens at a 1:35 ratio. Thus, 1 RAMP token is swapped for 35 LEVER tokens.
If you want to see how the RAMP price changed due to the rebrand, check out the aforementioned RAMP price chart.
