RAMP
Crypto Overview
Overview
RAMP is a DeFi protocol that aims to unlock the capital efficiency of non-EVM (Ethereum Virtual Machine) crypto assets by allowing users to stake their non-EVM assets as collateral. The protocol enables users to mint rUSD, a USD-pegged stablecoin, against their staked assets.
Intended Utility
The primary purpose of RAMP is to serve as a governance token for the RAMP DeFi protocol and provide incentives for liquidity providers. Token holders can participate in governance decisions and earn rewards for providing liquidity to the protocol's pools.
Actual Usage and Adoption
The protocol has seen limited adoption, with relatively low trading volumes and liquidity. While the project maintains active development, the primary usage appears to be speculative trading rather than its intended governance utility.
Token Distribution and Founder Analysis
The token distribution shows a significant portion allocated to the team and early investors, with vesting schedules in place. The founding team has maintained transparency about their involvement and continues to work on protocol development.
Technical Implementation
The protocol's core functionality involves lending and borrowing mechanisms that operate through smart contracts. The collateralization process includes interest-bearing components, which raises concerns from an Islamic finance perspective.
Crypto Impact
To assign a comfort level investing in RAMP from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to RAMP.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.