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RAMP DeFi Has Integrated Tezos

Ramp DeFi has integrated Tezos into its cross-bridge DeFi ecosystem.

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Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Ramp DeFi

You can now earn RAMP tokens by staking through the RAMP network. RAMP DeFi platform has launched rStake. This allows XTZ holders to deposit their XTZ into the rStake smart contract.

After that, wXTZ is minted. (Not to be confused with the Staker DAO version of wXTZ). In a later phase of the project, wXTZ can be used as collateral and allows holders to receive a stablecoin rUSD.

This is an Ethereum-based stablecoin, and can be used in DeFi on Ethereum like lending/ borrowing applications etc. rUSD can be minted in a later to be launched application called rMint.

For now, wXTZ can not be transferred and can only be used to redeem the underlying XTZ by burning the wXTZ.

Earning Ramp Tokens

Staking through rStake, will earn you extra value in the shape of RAMP tokens. The total value of your rewards in XTZ and RAMP is stated to be 160% in dollar value of the rewards you would have earned in XTZ.

This comes down to a yearly return of 160% * 6% = 9.6%. (Due to the fact that this value consists of XTZ and RAMP tokens, the actual value totally depends on the fluctuation in price of both tokens).

An important factor to realize is the following: According to the current documentation that is available, you give up 30% of your XTZ staking rewards.

In return the total rewards are topped up with RAMP tokens to 160% of the dollar value that you would have earned in XTZ staking rewards.

An example:

  • Alice normally earns $100 worth of XTZ in staking rewards by delegating to a Tezos baker.
  • After entering the rStake contract, Alice now receives $70 worth of XTZ + $90 worth of RAMP tokens.

Announced Baker

The RAMP platform announced to have set up a Tezos Baker in November 2020. The bakers address can be found here.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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