Why is RAMP (RAMP) crypto grabbing attention?

Highlights

• RAMP is a decentralized protocol that aims to empower users by providing a blockchain agnostic liquidity network.
• RAMP is launching Lever Finance, a new leveraged trading platform, and will carry out a token swap from RAMP to LEVER.
• RAMP currently has 11,337 token holders. 

The RAMP (RAMP) token has been drawing investors’ attention after announcing its transition to Lever Finance on March 31. Its trading volume surged 139.06% to US$15.68 million in the trailing 24 hours to Monday afternoon, showing investors’ interest in the token.

RAMP said it would launch a new leveraged trading platform Lever Finance and will carry out a token swap from RAMP to LEVER this year. The company also shared a tentative timeline for the transition between April and June this year. 

RAMP has set a zero-emissions target by May-end besides preparing for a token swap from RAMP to LEVER contract. It also plans to launch a website for Lever Finance and a community channel and release its product design and documentation. By June end, it plans to open a swap contract for deposits, and complete an audit and bug bounty.   

Following these updates, the token jumped 15.24% to US$0.1211 at 10:42 am ET, raising its market capitalization to US$55.18 million.

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What Is RAMP (RAMP) crypto?

RAMP is a decentralized protocol that aims to empower users by providing a blockchain agnostic liquidity network. The protocol aims to enhance DeFi adoption by allowing non-Ethereum users to stake tokens on Ethereum platforms. It will enable users to interact with the RAMP protocol and increase their yields.

The multi-chain DeFi protocol helps users earn high yields from their assets and collateralized stablecoins called rUSD, issued on the Ethereum blockchain. It offers extra liquidity through various investment opportunities and higher accessibility across blockchain networks.

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Tokens that use non-Ethereum standards are first converted into stablecoins called rUSD before applying them on the Ethereum blockchain. The rUSD token can also be minted on Binance Smart Chain and Polygon. RAMP hopes to add more chains in the future.

In addition, Ethereum blockchain users can easily mint eUSD by depositing ERC20 stablecoins in the RAMP eUSD liquidity pool. Consequently, rUSD and eUSD holders can exchange, borrow, and lend tokens and simultaneously create liquidity while staking these tokens.  

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Data Source: coinmarketcap.com

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RAMP token price and performance:

RAMP currently has 11,337 token holders, with the top 100 holding around 98% of the total supply. Of the total supply of one billion RAMPs, 452 million tokens are in circulation, nearly half of the total supply. The token can be purchased on Binance, Gate.io, FTX, BingX, and HitBTC crypto exchanges.

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Bottom line:

The growing staking economy has prompted RAMP to offer collateralized stablecoins to maximize yields. However, many crypto products are complex and prone to scams and hacking. Given the high volatility in the market, investors should exercise due diligence before investing in digital assets. 

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