RAMP DEFI Collaborates with PIDAO
RAMP DEFI is delighted to announce its latest collaboration with PIDAO, a decentralized reserve currency protocol based on the PID token which is backed by a basket of assets (e.g. BUSD, USDT, USDC) in the PIDAO treasury, giving it an intrinsic value.
PIDAO allows users to bond reserve currency tokens in return for discounted PID tokens. Reserve currency tokens include BUSD and PID-BUSD. In this collaboration with RAMP, PID-rUSD LP tokens can be used for bonding with the PIDAO treasury.
Users can bond PID-rUSD LP on the PIDAO platform to purchase PID at a discount. The PID-rUSD LP exchanged by PIDAO will be locked up long-term as the reserve assets to back PID value, helping to strengthen the treasury for the PIDAO protocol.
How to Participate in PIDAO Bonds?
1.Users will have to get rUSD first. There are three ways:
- Yield farmers can deposit assets on the RAMP platform to borrow rUSD using their assets as collateral.
- Yield farmers can purchase rUSD via PancakeSwap or QuickSwap.
- Ramp users can swap their assets for rUSD directly in the Ramp platform
2. For users looking to bond PID-rUSD tokens, head to PancakeSwap, buy PID, and add liquidity to the PID-rUSD LP pair.
3. Head over to PIDAO Bonds. Bond your PID-rUSD LP tokens with the PIDAO treasury to receive PID tokens at a discounted rate.
ABOUT PIDAO
PIDAO is a decentralized reserve currency protocol based on the PID token. Each PID token is backed by a basket of assets (e.g. BUSD, USDT, USDC) in the PIDAO treasury, giving it an intrinsic value that it cannot fall below. PIDAO also introduces unique economic and game-theoretic dynamics into the market through staking and bonding.
ABOUT RAMP DEFI
RAMP DEFI is an optimized lending platform that aims to give users the highest deposit yields and lowest borrowing fees on collateral assets within Binance Smart Chain and Polygon.
RESOURCES
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