We are excited to share that the transition of RAMP DEFI to LeverFi (Lever Finance) has been met with overwhelming approval from the RAMP DAO proposal, with 99.5% of token holders voting a YES for the proposed 2022 Roadmap!
To provide more clarity for our community, we are excited to present an indicative timeline of events for the transition of RAMP to LeverFi below.
The transition is expected to take place between April to June 2022.
April 2022
- Daily reduction of RAMP emissions for RAMP single asset vaults to zero over 8 weeks, starting from 1 April 2022 until 26 May 2022 UTC 01:00.
- Daily reduction of all other RAMP emissions to zero over 2 weeks, starting from 1 April 2022 until 14 April 2022 UTC 01:00.
- The above applies to all chains that RAMP is deployed on. Staking rewards will subsequently be given out from the RAMP to LEVER token swap contract to incentivize users to participate in the swap.
- Alignment of Polygon vaults parameters to be identical with Binance Smart Chain (minimum collateralization ratio: 135% and liquidation ratio: 130%) starting 7 April UTC 01:00.
- Prepare LEVER token contract for audit.
- Prepare RAMP to LEVER token swap contract for audit.
- Launch of the LeverFi website, Telegram group, Twitter and other community channels.
June 2022
- LeverFi product design and documentation for public release.
- Targeted audit completion for LEVER token contract and RAMP to LEVER token swap contract.
July 2022
- LeverFi product code audit targeted to start.
- LeverFi bug bounty program targeted to start.
- RAMP to LEVER token swap targeted for July 2022, subject to approvals from exchange partners.
