Elrond is ecstatic to announce that the company will make stake farming available for the Elrond Proof of Stake economy participants through the RAMP DEFI, offering Elrond validators a chance to borrow from the staked collateral. RAMP DEFI aims to build a smart contract on the Elrond mainnet, further enabling their use-case.
The CEO of Elrond, Beniamin Mincu quoted,
This partnership is a significant move for the Elrond participants in the Elrond PoS economy. It deducts the cost of undertaking the DeFi opportunities, creating a positive impact on the amount of eGLD locked for staking. The collaboration increases network security and enables participants to support staked assets, and strengthening the token economy in the longer run.
Elrond aims to bring the 1000-fold progressive improvement plan into execution. It has introduced two significant innovations; Adaptive State Sharding Mechanism and the Secure Proof of Stake algorithm are the two significant plans by Elrond. If both of these innovations work persistently, then Elrond can process further with 10,000 transactions per second.
As a decentralized platform, RAMP DEFI focuses on unlocking the liquid capital from the staked digital assets and enabling its users to collateralize the staked holdings in the form of a stablecoin. With the use of the RAMP solution, the users can avail of the staking rewards persistently.
