Collateralize IOTX-BUSD LP Assets Into Liquid Capital While Earning 158% APY!
We are excited to share that the IoteX vault is live on RAMP V2!
IoTeX token holders now can unlock liquid capital from their farming assets by collateralizing PancakeSwap IOTX-BUSD LP tokens and maximize their yield returns on RAMP platform, as they continue to enjoy APY of up to 158%.
About the Partnership
- 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.
- They can take a step further to get extra liquidity by over-collateralizing supported assets such as RAMP tokens, IOTX-BUSD Pancake LP tokens and other tokens on its platform into RAMP’s cross-chain stablecoin, rUSD.
- IOTX-BUSD liquidity providers can deposit their LP assets into the RAMP vault and mint the rUSD stablecoin on the RAMP protocol. At the same time, the deposited IOTX-BUSD LP assets are redeployed back into PancakeSwap to farm and are compounded automatically back to users in the form of IOTX tokens.
- The minted rUSD can be effortlessly swapped with fiat-backed stablecoins such as USDT and USDC and be used across multiple blockchain networks.
The below provides rUSD minting parameters for this particular asset in the Minter.
- Asset: IOTX-BUSD FLIP LP token
- Reward Token: IOTX-BUSD FLIP LP token
- Strategy: The IOTX-BUSD FLIP LP token deposits are deployed into its PancakeSwap farm. Any CAKE tokens farmed are converted into more IOTX-BUSD FLIP LP tokens and accrued back into the original deposit pool. Users will automatically have their deposits grow over time.
- Asset APY: 96.85% as at time of writing
- Minimum Collateralization Ratio: 400%
- Max rUSD Mintable Capacity: 500,000 rUSD
- Liquidation Ratio: 125%
- Interest Rate: 0.00274%
- Liquidity Fee: 0%
- Deposit Fee: 0%
- Withdrawal Fee: 0%
The above parameters are applicable as of the time of writing and may be changed at any time subject to market conditions. For the most up-to-date parameters, please visit https://docs.rampdefi.com/rampdefi/governor-parameters.
How To Use The IOTX-BUSD Vault on RAMP V2
- Add liquidity using IOTX and BUSD tokens on PancakeSwap.
- Deposit the IOTX-BUSD FLIP LP tokens into RAMP V2 to start earning farming rewards.
- Mint rUSD against your deposited assets.
- Swap rUSD for any tokens you like on PancakeSwap!
Founded as an open-source platform in 2017, IoTeX is building the Internet of Trusted Things, an open ecosystem where all “things” — humans, machines, businesses, and DApps — can interact with trust and privacy. Backed by a global team of 30+ top research scientists and engineers, IoTeX combines blockchain, secure hardware, and confidential computing to enable next-gen IoT devices, networks, and economies. IoTeX will empower the future decentralized economy by “connecting the physical world, block by block”.
To learn more about IoTeX, visit:
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RAMP & IoTeX: Partnering to Help IOTX Liquidity Providers Achieve Capital Efficiency was originally published in RAMP DEFI on Medium, where people are continuing the conversation by highlighting and responding to this story.