What is Ramp Coin? Ramp Coin (RAMP) is a blockchain project that aims to enable users on the Ethereum blockchain to access decentralized finance without owning ETH. In this article, you can find answers to frequently asked questions such as what Ramp Coin is, what it offers, how to buy RAMP, what it is used for. As Kriptokoin.com, we have compiled it for you. Let’s examine the project together.
What is Ramp Coin?
Ramp Coin is a DeFi focused Blockchain project. The project works as a decentralized protocol that aims to allow Ethereum Blockchain users to staking without even owning ETH. The native cryptocurrency of the protocol is RAMP. RAMP token has various use cases within the protocol. Users of the protocol can earn passive income on collateral and interact with all services of Ethereum’s network. Ramp allows assets not created by the ERC-20 smart contract and located on other blockchains to be collateralized into rUSD, a stablecoin on the Ethereum blockchain.
This collateral allows users to get multiple sources of income and earn staking rewards. Besides, the protocol also allows ERC-20 tokens to benefit from this service. Ethereum Blockchain users can deposit ERC-20 contract stablecoins into Ramp Coin’s eUSD liquidity pools and create new eUSD stablecoins in exchange for collateral. rUSD and eUSD holders can trade, lend and receive transactions through the protocol.
What is Ramp Coin used for?
stable coins created with the ERC-20 smart contract are converted to eUSD stable coin for use in the liquidity pool of the protocol. Stable coins from other blockchains are converted to rUSD. eUSD holders can earn interest income by lending their stablecoins to other users. Users holding rUSD can use locked funds on non-Ethereum blockchains and earn token rewards by staking rUSD coins.
What does the RAMP token do?
RAMP token is the native cryptocurrency of the DeFi protocol Ramp Coin. Ramp DeFi works as a decentralized protocol and is managed through RAMP. Users who own 1% of the token’s total supply can suggest changes to the platform. The aforementioned proposals are voted on by RAMP holders, providing decentralized management. Besides, the RAMP token has various use cases such as staking, incentive reward for bringing in new users, increasing the potential in yield farming.
How to get Ramp Coin?
Users interested in the project can purchase the token by subscribing to a cryptocurrency exchange where the RAMP token is listed. Exchanges that list Ramp Coin include Binance, FTX, Gate.io, and Uniswap. Interested investors can purchase the token by signing up for one of these exchanges and depositing money in their wallets.
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