On-ramp liquidity solutions provider RAMP DeFi announced on Thursday that it has integrated with Switzerland based web-scale blockchain network Solana. In the official tweet, RAMP DeFi mentioned that the integration is aimed to provide Solana token holders the access to staked liquidity and cross-chain yield farming without giving up their staking rewards.
1) We are happy to announce RAMP’s integration with @solana, which gives Solana users access to cross-chain DeFi yield farming and staked liquidity. https://t.co/bPc3r1n6cM#staking #defi $ramp $sol #rampdefi #solana
— RAMP DEFI (@RampDefi) September 10, 2020
RAMP DeFi is a decentralized liquidity finance solutions network that unlocks liquid capital from staked crypto assets across the globe. RAMP allows its users to receive staking rewards for their staked digital assets, and use liquid capital for new investment opportunities at the same time. Solana, on the other hand, focuses on establishing scalability without compromising security or decentralization. The Proof-of-Stake protocol currently boasts a speed of 50,000 transactions per second, with a transaction fee as low as $0.0001.
The integration between the two new-age crypto-blockchain networks will grant Solana token holders certain unique benefits, like retaining staking rewards, capital gains, participation in the RAMP ecosystem, and access to liquid capital. This will not only allow Solana to attract more users to its protocol, but also help RAMP DeFi to expand its use cases and strengthen its network governance.
SOL holders can collateralize their holdings by using RAMP smart contracts into solUSD, Solana’s stablecoin, and then exchange it for rUSD, RAMP’s stablecoin built on the Ethereum Network. These rUSD tokens, in turn can be exchanged with USDT or USDC for investing in new DeFi projects.