RAMP x Injective Collaboration
Ramp partners with Injective Protocol to push the frontiers of DeFi innovation.
INJ-BNB Vault has been launched on RAMP V2, which allow INJ-BNB asset owners to unlock liquid capital from their farming assets by collateralizing their LP tokens on the RAMP platform, even as they continue to enjoy APY of up to 129%.
- RAMP allows users to over-collateralize supported assets such as RAMP tokens, INJ-BNB Pancake LP tokens and other tokens on its platform into rUSD, a stablecoin.
- INJ-BNB liquidity providers can deposit their LP assets into RAMP and mint the rUSD stablecoin on the RAMP protocol. The deposited INJ-BNB LP assets are redeployed back into Pancake to farm, and are compounded back to users in the form of INJ-BNB tokens.
- The minted rUSD can be effortlessly swapped with fiat-backed stablecoins such as BUSD, USDT and USDC with low slippages.
- This means that INJ-BNB users can continue to farm at up to 129% APY (as at time of writing) and unlock liquid capital on these yield farming assets at the same time.
- Slippages can go as low as 0.1% for a $1,000,000 rUSD to BUSD swap order, which essentially gives rUSD liquid transferability against fiat-backed stablecoins.
What is Injective?
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
What is Ramp?
RAMP 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 total staking market cap as of today is over USD300 billion, and as the industry-leading solution, RAMP DEFI has a vision of unlocking USD1 billion or more in “Total Value Unlocked (TVU)” for users by end 2021.
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