Leverfi Crypto: A Smart Investment Decision?

LeverFi, formerly known as RAMP DEFI, is a decentralised leverage trading platform that allows users to trade and yield farm simultaneously. The platform is based on the Ethereum blockchain and went live under its new name in 2022. LeverFi's primary use case is to provide a unique solution for traders by integrating transactions and farming into a single platform. The platform also supports users who engage in pair transactions or hedging with leverage. The LEVER token is used to pay for fees on the LeverFi platform and also allows holders to vote on changes to the network. While LeverFi has experienced some growth and has positive price predictions, it is still a fairly minor crypto, and it is difficult to tell if it is a good investment. As with any crypto investment, it is important to do your own research before deciding whether or not to invest in LEVER.

LeverFi's price history and future predictions

LeverFi, formerly known as RAMP DEFI, is a decentralised leverage trading platform. The LEVER token is a governance token with a maximum supply of 35 billion.

Price History

The LEVER token first entered the market in July 2022, with an initial price of around $0.0013. The token quickly rose to an all-time high of $0.005333 on 16 July 2022. However, the price soon fell, and the collapse of the FTX (FTT) exchange in November 2022 caused the token to drop below $0.001. Despite some recovery, the token ended the year at $0.001648.

In 2023, the LEVER token experienced significant volatility. In February, it reached $0.003515, but news of the SEC suing Binance and Coinbase exchanges caused a sharp drop. The suspension of Crypto.com's American institutional operations further impacted LEVER, causing it to fall to $0.0009909. The token recovered to $0.001631 in August, but the sale of Bitcoin by Elon Musk's SpaceX caused another market collapse, and LEVER slumped to an all-time low of $0.0008609 on 17 August 2023. The token ended the year at $0.001691, representing a meagre 2.6% rise over the year.

By February 2024, LEVER had shown some recovery, trading at around $0.0019. As of 22 September 2024, the price of LEVER is $0.002163, with a 24-hour trading volume of $12,870,065.

Future Predictions

It is challenging to predict the future performance of any cryptocurrency, and price forecasts are often inaccurate. However, several platforms have made LeverFi price predictions for the short, medium, and long term.

Short-Term Predictions:

• CoinCodex predicted that LEVER would fall to $0.001754 by 28 February 2024 and recover to $0.00196 by 24 March 2024.
• Google's Gemini AI platform predicted moderate gains if positive momentum continued but also noted the risks of a decline due to broader market conditions.

Medium-Term Predictions:

• CoinCodex's LeverFi price forecast for the next 30 days (as of 30 May 2024) predicted LEVER to reach $0.005614 by 6 June 2024, a 47.67% increase.
• Crypto.com's converter feature predicted LEVER to be worth $0.002168 in the near future.

Long-Term Predictions:

• CoinCodex predicted that LEVER could reach $0.017706 in 2025, $0.009303 in 2030, and $0.015084 in 2030.
• DigitalCoinPrice predicted LEVER to trade at $0.0478 in 2025 and $0.0137 in 2030.
• Bitnation predicted LEVER to reach $0.006532 in 2025, $0.01586 in 2030, and $0.0362 by 2030.
• PricePrediction.net gave forecasts of $0.0035 for 2025, $0.0243 for 2030, and $2.13 by 2050.

While these predictions offer varying estimates, the general sentiment is that LeverFi's price could increase over the long term. However, it is important to remember that cryptocurrency prices are highly volatile, and actual performance may differ significantly from predictions.

The team behind LeverFi

Lawrence Lim, the co-founder, started his career in 2012 in the traditional finance sector. He worked in private banking and corporate mergers and acquisitions before moving into the crypto industry with IOST, a blockchain network.

Loh Zheng Rong, the co-founder and marketing lead, holds a B.B.A. in Finance Wealth Management from Singapore Management University. He has a background in financial management and has previously worked on blockchain infrastructure projects. In 2018, he co-founded NOX, a blockchain infrastructure company, and he served as the managing partner at Merkle Ventures.

How LeverFi works

LeverFi, formerly known as RAMP DEFI, is a decentralised, on-chain leverage trading platform built on Ethereum. It aims to solve various decentralised finance (DeFi) pain points through a suite of intuitive solutions.

The platform offers multi-asset lending, leveraged trading solutions, and tools to improve the DeFi experience. It also provides a user-centric platform to improve asset efficiency, provide sustainable real yields, and offer leverage trade execution for all users.

• Collateral Manager: To start trading, users need to deposit assets in the form of collateral. The Collateral Manager facilitates deposits, withdrawals, and the deployment of collateral for yield generation. It also validates the collateral using Chainlink oracles.
• Trading Manager: The Trading Manager executes buy and sell trades and performs profit and loss (PNL) calculations. It handles trade-related functions.
• Lending Manager: Lenders deposit their assets into Lending Pools, where traders borrow them for trading. The Lending Manager ensures a smooth process by managing deposits, withdrawals, recording lending assets, and calculating borrowing fees.
• Risk Manager: One key risk management strategy is liquidating traders at risk of bad debt. The Risk Manager calculates account health, manages collateral risk parameters (Loan-To-Value, LTV), liquidation threshold risk, and settles trader profits and losses.

By addressing DeFi pain points, such as inefficient asset utilisation and unstable liquidity, LeverFi aims to lower risks, provide sustainable yields, and improve asset management. It empowers users to maintain transparency and self-custody over their assets.

Additionally, LeverFi supports advanced trading strategies, including pair trades, carry trades, and market-neutral trades with leverage. It also offers optimised asset pricing by routing trades through multiple DEXs to find the best prices, minimising slippage for large trades.

LeverFi's primary use case

The platform allows users to deposit crypto as collateral. This collateral can be unified into a single asset, which allows them to trade with more money than they otherwise would have. Lenders can allocate resources into lending pools, receiving compensation from traders who borrow to leverage transactions up to 10X. Any unused liquidity from lenders is allocated into other DeFi protocols to generate additional yield.

The platform also supports users who engage in pair transactions or hedging with leverage, while also allowing users to utilise the platform in conjunction with DEX/CEX derivatives.

The LeverFi platform is built on the Ethereum blockchain and aims to serve as a bridge for Ethereum and EVM-compatible chains like BNB Chain, Avalanche, Polygon, Arbitrum, and Optimism.

How to buy LeverFi

LeverFi, formerly known as RAMP DEFI, is a decentralised leverage trading platform. It allows users to trade and yield farm simultaneously. Lenders can deposit funds into lending pools and earn interest from traders who borrow to leverage trade up to 10X.

If you want to buy LeverFi, here is a step-by-step guide:

Step 1: Sign Up for an Account on a Cryptocurrency Exchange

You will need to create an account with a cryptocurrency exchange that offers LeverFi. Some of the most popular exchanges that offer LeverFi include Binance, MEXC, Gate.io, Tokocrypto, Bitrue, Pionex, BKEX, Mandala Exchange, Hotcoin Global, and CoinEx.

Step 2: Fund Your Account

Once you have created an account, you will need to fund it with fiat currency (such as USD or EUR) or another cryptocurrency such as Bitcoin or Ethereum. You can typically fund your account by linking a bank account, using a credit or debit card, or depositing cryptocurrency directly into your account.

Step 3: Purchase LeverFi

After funding your account, you can now purchase LeverFi. Navigate to the exchange platform within your chosen exchange and search for LeverFi or its contract address (0x4b5f49487ea7b3609b1ad05459be420548789f1f).

Then, enter the amount of LeverFi you want to buy, taking into account the current market price and any associated fees. Review the total cost, including fees, before placing your buy order.

Step 4: Store Your LeverFi in a Crypto Wallet (Optional)

If you plan to hold your LeverFi for the long term, it is recommended to store your cryptocurrency in a secure wallet rather than keeping it on an exchange. You can choose between a software wallet, which is typically free but may be less secure, or a hardware wallet, which is more secure but requires an upfront investment.

Step 5: Consider Trading or Yield Farming with LeverFi

Now that you have purchased LeverFi, you can consider trading it for other cryptocurrencies or using it to yield farm on the LeverFi platform. Remember to carefully consider your investment objectives and conduct your own research before investing.

Please note that the above steps are general guidelines, and the specific process may vary depending on the exchange you choose and your payment method. Additionally, cryptocurrency investments are subject to high market risk and price volatility, so be sure to understand the risks before investing.

Frequently asked questions