RAMP V2 operates the following modules:
Users stake their yield generating assets such as RAMP, CAKE, Sushi LP tokens, Pancake LP tokens into RAMP V2 Vaults.
RAMP V2 Vaults utilize strategies which deploy the staked assets into their respective yield farming or staking programs to generate passive yield for users.
Users can use their staked assets as collateral to mint rUSD from the Minter.
Each asset has its own defined Minimum Collateralization Ratio and Max Minting Capacity. These parameters are determined based on each asset's available liquidity and trading volume and is controlled by the Governor.
On the individual wallet level, rUSD can be minted using the formula: Max rUSD Mintable For An Asset By A Wallet = Market Value of Asset Staked by Wallet / Minimum Collateralization Ratio
The Governor manages the Minimum Collateralization Ratio and Max Minting Capacity applied on each supportable asset in the protocol.
The Governor also manages the interest rates applied on minted rUSD positions.
Interest rates on rUSD minting start from zero for all assets. Interest rates will only be applied when: (i) rUSD value goes below 1 or (ii) rUSD minting sees high utilization.
Interest rates are applied on the asset level.
The Bridge supports the cross-chain interoperability of rUSD across different blockchain networks.
For example, users can mint rUSD (ERC20) with their Ethereum-based assets, and swap it effortlessly into rUSD (BEP20) on the Binance Smart Chain.
Assets staked on the Ethereum network still continue to generate yield on Ethereum, even while the rUSD (BEP20) sits in a DeFi protocol on Binance Smart Chain to generate an additional yield stream.
The Bridge is expected to support multiple liquidity hubs in the future, including on Polkadot and other DeFi ecosystems.
The Keeper oversees collateral value maintenance within the protocol.
Assets are liquidated by the Keeper if the collateralized position falls below the Liquidation Ratio.
Users may add on more collateral to maintain the collateralized position above the Liquidation Ratio, or simply repay the rUSD minted to redeem the underlying assets and avoid liquidation.
The Keeper shall repurchase and burn the equivalent rUSD value using the liquidated assets when rUSD is less than or equal to 1.
The Swap allows users to swap seamlessly between rUSD, USDT, USDC and DAI through stablecoin liquidity pools.
RAMP V2 currently supports Ethereum and Binance Smart Chain for rUSD minting, with more blockchains integrations to be expected in the near future.