- RAMP announced its partnership with IoteX.
- IoTeX token holders can now unlock liquid capital from their farming asset.
RAMP announced its partnership with IoteX. This enables them to help IOTX liquidity providers achieve capital efficiency.
The RAMP team said they are excited to share that the IoteX vault is live on RAMP V2. RAMP is a global DeFi solution. Moreover, it focuses on unlocking liquid capital from staked digital assets.
According to RAMP, IoTeX token holders can now unlock liquid capital from their farming assets. Also, the firm said they could do so by collateralizing PancakeSwap IOTX-BUSD LP tokens. Further, they can maximize their yield returns on the RAMP platform. Therefore, they can enjoy APY of up to 158%.
The RAMP team gave the details of the partnership as follow:
“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.”
Also, RAMP said that IoteX token holders could get extra liquidity by over-collateralizing supported assets. This includes RAMP tokens, IOTX-BUSD Pancake LP tokens. Also, they can get other tokens on its platform into RAMP’s cross-chain stablecoin, rUSD.
In addition, IOTX-BUSD liquidity providers can deposit their LP assets into the RAMP vault. When they do so, they can mint the rUSD stablecoin on the RAMP protocol.
Besides, the RAMP said that they will redeploy back the deposited IOTX-BUSD into PancakeSwap to farm. Therefore, they are united automatically back to users in the form of IOTX tokens.
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Source: https://coinquora.com/ramp-the-iotex-vault-is-live-on-ramp-v2/
