RAMP x IoTeX Partnership
RAMP x IoTeX announced partnership, so IoteX vault is live on RAMP V2.
IoTeX token holders now can unlock liquid capital from their farming assets by collateralizing PancakeSwap IOTX-BUSD LP tokens and maximize their yield returns on RAMP platform, as they continue to enjoy APY of up to 158%.
About the Partnership
- Using RAMP, IoteX token holders are able to deposit assets for ultra-high yields in auto-compounding vaults, optimizing the yield received on their assets.
- They can take a step further to get extra liquidity by over-collateralizing supported assets such as RAMP tokens, IOTX-BUSD Pancake LP tokens and other tokens on its platform into RAMP’s cross-chain stablecoin, rUSD.
- IOTX-BUSD liquidity providers can deposit their LP assets into the RAMP vault and mint the rUSD stablecoin on the RAMP protocol. At the same time, the deposited IOTX-BUSD LP assets are redeployed back into PancakeSwap to farm and are compounded automatically back to users in the form of IOTX tokens.
- The minted rUSD can be effortlessly swapped with fiat-backed stablecoins such as USDT and USDC and be used across multiple blockchain networks.
IOTX-BUSD Vault
The below provides rUSD minting parameters for this particular asset in the Minter.
- Asset: IOTX-BUSD FLIP LP token
- Reward Token: IOTX-BUSD FLIP LP token
- Strategy: The IOTX-BUSD FLIP LP token deposits are deployed into its PancakeSwap farm. Any CAKE tokens farmed are converted into more IOTX-BUSD FLIP LP tokens and accrued back into the original deposit pool. Users will automatically have their deposits grow over time.
- Asset APY: 96.85% as at time of writing
- Minimum Collateralization Ratio: 400%
- Max rUSD Mintable Capacity: 500,000 rUSD
- Liquidation Ratio: 125%
- Interest Rate: 0.00274%
- Liquidity Fee: 0%
- Deposit Fee: 0%
- Withdrawal Fee: 0%
How To Use The IOTX-BUSD Vault on RAMP V2
- Add liquidity using IOTX and BUSD tokens on PancakeSwap.
- Deposit the IOTX-BUSD FLIP LP tokens into RAMP V2 to start earning farming rewards.
- Mint rUSD against your deposited assets.
- Swap rUSD for any tokens you like on PancakeSwap!
What is IoTeX?
Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.
What is RAMP Community?
Backed by world-class investors, 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.
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