Posted 3 weeks ago | by Catoshi Nakamoto

We are thrilled to share our latest collaboration with Mirror Protocol to launch auto-compounding vaults for Mirror synthetic assets on the Binance Smart Chain.

RampMIrror RAMP Launches Mirror Synthetic Asset Vaults At Up To 91% APY

Mirror is a synthetic assets protocol built on the Terra blockchain that offers on-chain price exposure to real-world assets, including stocks, commodities, crypto, and ETFs. Synthetics, called mAssets, on Mirror are synthetic, tokenized representations of real-world assets pegged to their prices via a series of arbitrage incentives and oracle feeds.

Community-governed, Mirror allows users to mint mAssets (synthetics), trade mAssets on multiple cross-chain DeFi protocols, and LP mAssets on Terra, Ethereum, and Binance Smart Chain. With over $2 billion in TVL, Mirror is one of the fastest-growing synthetic asset protocols in DeFi.

Auto Compounding RAMP Vaults for Mirror Synthetic Assets Pairs on PancakeSwap

Mirror and Luna users farming on PancakeSwap using UST or Mirror synthetic stock assets can deposit their Pancake LP assets into RAMP to auto-compound their positions for enhanced APY.

The supported assets are:

MCOIN-UST FLIP LP Token

  • APR before compounding: 69.98%

MIR-UST FLIP LP Token

  • APR before compounding: 24.12%

UST-BUSD FLIP LP Token

  • APR before compounding: 10.51%

APR and APY numbers are as at the time of writing.

The CAKE farmed by the vaults is compounded back into underlying LP token assets daily, allowing users to consistently grow the size of their original LP positions.

Borrowing Against Synthetic Assets

For the MCOIN-UST vault, users are also able to borrow against these assets to unlock liquid capital in the form of rUSD by collateralizing their MCOIN-UST assets on the RAMP platform, even as they continue to enjoy APY of over 130%.

rUSD can then be swapped for any other tokens, such as MCOIN, MIR, RAMP, BUSD, or USDT, directly on PancakeSwap.

MCOIN-UST Vault Parameters

  • Asset: MCOIN-UST FLIP LP token

MIR-UST Vault Parameters

  • Asset: MIR-UST FLIP LP token

UST-BUSD Vault Parameters

  • Asset: UST-BUSD FLIP LP token

The above parameters are applicable at the time of writing and may be changed at any time subject to market conditions. For the most up to date parameters, please visit: https://docs.rampdefi.com/rampdefi/governor-parameters

About Mirror

Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets. Mirror is a community-governed project that seeks to unlock the wealth creation of major asset classes to users around the world via a permissionless access model.

Website | Docs | Github Medium | Telegram | Discord | Twitter

Join the RAMP Community

Backed by world-class investors, RAMP is a global decentralized finance solution that focuses on unlocking liquid capital from staked digital assets.

Using the RAMP solution, users with staked assets can continue to receive staking rewards, retain capital appreciation potential on their staked portfolio, and unlock liquid capital to invest in new opportunities at the same time.

The total staking market cap as of today is over USD300 billion, and as the industry-leading solution, RAMP DEFI has a vision of unlocking USD1 billion or more in “Total Value Unlocked (TVU)” for users by the end of 2021.

Users can access the RAMP token on:

Binance | FTX (Futures) | PancakeSwap | Uniswap | Gate.io | MXC

If you are interested to participate in our community and receive timely updates from the following official channels:

Twitter | Telegram | LinkedIn | Discord | Medium

For partnerships, media, or other collaboration opportunities, please email team@rampdefi.com.

Original article published on Ramp Defi’s Medium.