Singapore, Aug. 23, 2020 (GLOBE NEWSWIRE) — RAMP DEFI, a cross-chain liquidity on/off ramp that unlocks liquid capital from staked digital assets, has successfully closed its oversubscribed private sale with over $1 million (USD) raised. Private sale investors include Alameda Research, ParaFi Capital, XRP Capital, IOST, Signum Capital, Ruby Capital, and Blockwater VC.
- Backers include Alameda Research and other leading funds
- RAMP’s public sale is scheduled for August 29, 2020
- RAMP recently partnered with Elrond to provide eGLD holders with RAMP solutions
Following the private sale, RAMP is expected to launch its highly-anticipated public sale on August 29, 2020. The Public sale will offer 10,000,000 RAMP for participants that successfully whitelist during the public sale. A listing on decentralized exchange Uniswap is expected to occur soon after.
RAMP is the first company to develop a cross-chain liquidity on/off ramp that will allow holders of non-ERC-20 staked digital assets to conveniently utilize their staked assets. First, locked assets are collateralized into a stablecoin “rUSD”. Once obtained, rUSD holders can borrow, lend or exchange rUSD with eUSD (ERC-20 equivalent) in a seamless liquidity on and off-ramp solution for users with capital locked in staking arrangements across various chains. While many DeFi projects seek to lock up value into their solutions as “Total Value Locked (TVL)”, RAMP focuses on a metric called “Total Value Unlocked (TVU)” that represents the additional liquidity that RAMP DEFI is unlocking for the entire crypto ecosystem.
RAMP’s success comes as the DeFi market continues its incredible growth surpassing $15 billion in market value. Despite this growth, the nascent market is still in need of solutions that provide convenience and more access to various DeFi services. These needs include active liquidity management, interoperability within DeFi applications, and more staking flexibility.
RAMP’s Project Lead Lawrence Lim explains, “We are thrilled to have the support of some of the most prominent investors in the blockchain industry. Many of these investors experienced first-hand inconveniences with locked liquidity and saw the value in what we are building. We are excited to work closely with them to bring the DeFi market a solution that will provide access to over $22 billion of staked digital assets that can now be efficiently utilized.”
On August 19, 2020, RAMP announced a partnership with Elrond to deliver the RAMP solution for eGLD holders and will continue to announce more official blockchain foundation partners in the weeks ahead.
About RAMP DEFI:
RAMP DEFI is a decentralized finance solution that focuses on unlocking liquid capital from staked digital assets. This is achieved by letting users collateralize their portfolio of staked assets into a common stablecoin standard, rUSD, which can in turn be used to borrow fiat-back capital such as USDT or USDC. Using the RAMP solution, users can continue to receive staking rewards, retain capital appreciation potential on their staked portfolio, and recycle staked capital into new investment opportunities at the same time. The addressable market for staked assets today is upwards of USD22bn, and RAMP DEFI has a vision of USD1bn in “Total Value Unlocked (TVU)” for RAMP users by end 2021.
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