NERVE Launches rUSD Metapool Alongside Partnership with Ramp‍

NERVE is an AMM that focuses on and optimizes trading stablecoins with minimal slippage. It has announced it will partner with DeFi lending protocol RAMP. 

By
Robert D. Knight
on
May 4, 2021
Category:
BSC News

Ramp and Nerve Partnership

The partnership supports rUSD token swaps available on the NERVE platform thanks to an rUSD metapool. The rUSD metapool will provide efficient stablecoin trades between rUSD, BUSD, USDT and USDC. According to Nerve, slippages can be as low as 0.1% for a $1,000,000 rUSD to BUSD swap order.

The team has stated that this:

 “essentially gives rUSD liquid transferability against fiat-backed stablecoins.”
Source: Swapping rUSD for BUSD.


Liquidity

Following the launch of the rUSD metapool NERVE saw the pool swell to $8 million in combined funds within 24 hours. NERVE is incentivizing users to contribute liquidity to the pool with a current APY of 99%. NERVE will accept BUSD, USDT, USDC and rUSD contributions to the pool but its preference at this stage is for BUSD, USDT and USDC, with deposit bonuses of up to 0.34%.

Once stablecoins are deposited in the metapool they will receive a nrvRUSD LP token. These tokens can then be taken and deposited in the rUSD-3NRV Vault to start receiving rewards in RAMP.

RV-BNB and rUSD-3NRV Vaults

The partnership between NERVE and RAMP will bear further fruit in the form of two vaults from RAMP. The new vaults will offer NERVE users new ways to benefit from their NERVE tokens. The finer details of how the vaults work was recently shared in a medium post on the company website, which we reshare here for your convenience.


NRV-BNB Vault

The below provide rUSD minting parameters for this particular asset in the minter:

Asset: NRV-BNB FLIP LP token

Reward Token: NRV-BNB FLIP LP token

Strategy: The NRV-BNB FLIP LP token deposits are deployed into its PancakeSwap farm. Any farmed CAKE tokens are converted into more NRV-BNB FLIP LP tokens and accrued back into the original deposit pool. Users will automatically have their deposits grow over time.

Asset APY: 327% as at time of writing

Minimum Collateralization Ratio: 400%

Max rUSD Mintable Capacity: 1,500,000 rUSD (currently 1,000,000 rUSD, capacity increase to take place on 4 May 2021 9pm EST)

Liquidation Ratio: 125%

Interest Rate, Liquidity Fee, Deposit Fee, Withdrawal Fee: 0%

rUSD-3NRV Vault

The below provide rUSD minting parameters for this particular asset in the minter:

Asset: NRV-BNB FLIP LP token

Asset APY: 327% as at time of writing

Minimum Collateralization Ratio: 400%

Max rUSD Mintable Capacity: 1,000,000 rUSD

Liquidation Ratio: 125%

Interest Rate, Liquidity Fee, Deposit Fee, Withdrawal Fee: 0%

Conclusion

With $8 million in locked assets, NERVE’s rUSD metapool has got off to a great start. Swapping is now available on NERVE, opening up staking possibilities on RAMP. The two ecosystems give every indication of being a fine match.


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Robert D. Knight

Robert D. Knight is an experienced journalist and copywriter who has been working in crypto for 4+ years. His bags are heavy and he also hodls some cryptocurrency.