RAMP DEFI is excited to announce our partnership with NULS and NerveNetwork to deliver liquid staking and stake farming for NULS token holders.
NULS is an open-source, enterprise-grade, adaptive blockchain platform that offers fast-track business solutions for developers. NULS utilizes the Proof-of-Credit (POC) consensus mechanism, which combines Delegated-Proof-of-Stake (DPoS) with an added credit rating feature, as its foundational technology.
NerveNetwork is a decentralized digital asset service network based on the NULS micro-services framework, which uses the NULS ChainBox to develop a blockchain cross-chain interaction protocol, and is a bridge for asset transfers between NULS and Ethereum.
Partnership Synergies Between NULS, Nerve and RAMP
RAMP DEFI focuses on unlocking liquid capital from staked digital assets, allowing users to “recycle” staked capital without giving up their staking rewards or capital appreciation potential.
Using RAMP smart contracts, users collateralize their NULS into a native stablecoin, nUSD, on the NULS network, which can also be used by other Dapps or for asset trading within the NULS ecosystem.
Users may exchange nUSD for rUSD, a 1:1 representation of stablecoin value on the Ethereum network. NerveNetwork, which acts as the cross-chain bridge between NULS and Ethereum, plays a crucial role in ensuring this cross-chain liquidity transfer.
Users holding rUSD can borrow/exchange for fiat-equivalent stablecoins such as USDT, USDC, TUSD or DAI, which can be used for DeFi investing, trading or even exchange into fiat for other purposes.
Benefits for NULS Holders
In this partnership with RAMP, NULS users can expect to receive the following benefits:
- Retain their NULS staking rewards;
- Retain capital gains potential on holding NULS;
- Gain access to liquid capital to invest into new opportunities without needing to inject additional capital; and
- Enhance staking yields and farm RAMP tokens by actively participating in the RAMP ecosystem.
Technical, Marketing and Growth Collaborations
RAMP DEFI and NULS shall work closely on technical development of smart contracts powering the staking, minting and liquidation functions, and ensure that these smart contracts are secure for use by the NULS community.
RAMP DEFI will also set up NULS staking nodes, and NULS holders who delegate and stake assets in any staking nodes (not just RAMP’s nodes) are eligible to farm RAMP tokens in what we term as “stake farming”.
Both networks also have plans to undertake co-marketing campaigns and community programs to build a tight-knit community around further development . Together, NULS and RAMP are excited to develop practical DeFi use cases for the crypto ecosystem.
We are excited to partner with NULS and Nerve as they meet all the criteria to be an excellent fit for the RAMP solution, including high token trading liquidity, a user friendly staking program and a functional Ethereum bridge already developed. The potential for rapid DeFi growth on NULS is enormous.
Lawrence Lim, Project Lead of RAMP DEFI
RAMP x NULS Staked Coins Output (SCO) Program
The Staked Coins Output (SCO) Program fits in exceptionally well with RAMP’s model of rewarding users who staked native assets into RAMP smart contracts. At RAMP, we call this “Stake Farming”.
The original SCO program by NULS allows stakers to earn RAMP instead of NULS. Depending on the project, rewards can be distributed as a mix of the two. Projects can create their nodes to distribute anywhere from 1–99% of the rewards as project tokens and NULS. If an SCO node for instance, sets its commissioned amount of rewards to 50%, the node will pay out consensus rewards as 50% NULS tokens and 50% project tokens.
As an example:
- Aleph, the first SCO to trial the new model is currently underway and has established six nodes at 99% commission, with a total staked value of nearly 3 million USD. Thus, the Aleph project will receive around 350,000 NULS yearly as consensus rewards. A deposit of 10,000 NULS into an Aleph SCO node will rewards roughly 350 Aleph each day, over 10,000 Aleph per month, before Aleph was listed on exchanges.
As RAMP focuses on liquidity unlocking, RAMP shall establish a NULS node and then distribute the token to trustees via an adjusted smart contract that is aligned with its Stake Farming Program objectives.
Measuring Success by Total Value Unlocked (TVU)
Many DeFi solutions that seek to lock up liquidity and measures their success by Total Value Locked (TVL). This means that within the Ethereum network, all these different solutions are competing for the same dollar.
RAMP DEFI focuses on unlocking liquidity from staked assets to benefit the broad crypto ecosystem, which represents a “blue ocean” in the DeFi space. As a pioneer in driving this liquidity extraction, RAMP DEFI measures its success by Total Value Unlocked (TVU), which tracks the liquidity it is adding to the global decentralized finance economy.
With approximately USD20 million in staked NULS at time of writing, this represents the potential market size of liquidity that can be unlocked from the NULS ecosystem by NULS holders.
Join the RAMP DEFI Community
Backed by world-class investors, RAMP DEFI is a global decentralized finance solution that focuses on unlocking liquid capital from staked digital assets. Using the RAMP solution, users with staked assets can continue to receive staking rewards, retain capital appreciation potential on their staked portfolio, and unlock liquid capital to invest into new opportunities at the same time.
The addressable market for staked assets today is upwards of USD22bn, and as the industry leading solution, RAMP DEFI has a vision of unlocking USD1bn or more in “Total Value Unlocked (TVU)” for users by end 2021.
If you are interested to follow RAMP DEFI and get in touch with the project team members, you can participate and receive timely updates from the following official channels:
- Twitter: https://twitter.com/RampDefi
- Telegram: https://t.me/rampdefiofficial
- LinkedIn: https://www.linkedin.com/company/rampdefi
- Discord: https://discord.gg/WY5TU7b
- Medium: https://medium.com/rampdefi
For partnerships, media or other collaboration opportunities, please email: [email protected].
Source: RampDefi
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