LeverFi, formerly known as RAMP DEFI, is a decentralized leverage trading platform. In March of 2022, the team behind RAMP DEFI rebranded their company to adjust to the increasingly uncertain DeFi market. The rebrand aims to tackle issues within the current DeFi market such as a lack of sustainable TVL and utility.
The team behind LeverFi hopes to create a product that provides value by allowing users to trade and yield farm at the same time . Lenders deposit funds into lending pools and earn an interest from traders who borrow to leverage trade up to 10X. Any liquidity from lenders that are not used would be deposited into other DeFi protocols to generate more yield.
LeverFi aims to serve as a bridge for Ethereum and EVM-compatible chains like BNB Chain, Avalanche, Polygon, Arbitrum, Optimism and more.
## Who Are the Founders of LeverFi?
The Singapore-based RAMP DEFI project was founded in 2019 by Lawrence Lim and Loh Zheng Rong. Together, they re-branded the platform and launched LeverFi 3 years later. Lawrence Lim, the co-founder, began his career in 2012 in the traditional finance world. He worked in private banking and corporate mergers and acquisitions before transitioning into crypto with IOST, a blockchain network.
Loh Zheng Rong, the co-founder and marketing lead of the project, is a graduate of the Singapore Management University with a B.B.A in Finance Wealth Management. He co-founded NOX (a blockchain infrastructure company) in 2018 and previously served as the managing partner at Merkle Ventures.
## What Makes LeverFi Unique?
The primary case for LeverFi is to establish a unique solution for traders by integrating trading and farming into a single platform.
Users can deposit collateral as single assets, such as Bitcoin, Ethereum, Curve liquidity provider tokens (LP) and Uniswap LP, and then unify their collateral in order to trade with larger positions.
The platform also supports users who partake in pair trading or hedging with leverage, while also allowing users to utilize the platform in conjunction with DEX/CEX derivatives.
LeverFi charges trade fees of 1% for every trade. Furthermore, LeverFi routes trade to pre-existing DeFi protocols and decentralized exchanges. For instance, when a user longs an asset on the platform, the asset is bought on a liquid secondary market via DEXs. LeverFi does not act as a counterparty to their users, and hence claims that it does not engage in “player versus player” or PvP behavior as it is a conflict of interest.
How to Buy LEVER on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing LEVER. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on the Bybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing LEVER.
Step 5: Purchase LEVER
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of LEVER you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy LEVER.
Step 6: Store Your LEVER
After purchasing, you can choose to store your LEVER in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and LEVER assets, be sure to use a strong password and enable two-factor authentication.
LEVER Price:LeverFi provides high-performance, world-class liquidity infrastructure for users in the Bitcoin and global Web3 ecosystems.The price fluctuates daily, you can go to the exchange: Bybitto check the price.
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