Overview of Ravendex and RAVE
Ravendex.io is a new decentralized exchange, and Cardano-based AMM protocol developed to provide a dynamic crypto swap environment for multiple projects on the Cardano Blockchain exchange. When it was first launched, users at Ravendex can start swapping their crypto tokens using ADA and buying the Cardano utility coins with ADA. The protocol provides an excellent user experience with ‘early Adopter’ opportunities.
The Ravendex platform has recently announced its new project to the crypto community members, introducing a new native token of the Ravendex platform, $RAVE.
The Ravendex platform was developed on a Cardano ecosystem. The platform leverages one of the highest transaction speeds and low costs to create an intuitive and scalable decentralized exchange since Cardano cryptocurrency has launched intelligent contract functions that have empowered the new Decentralized Finance (DeFi) projects.
The $RAVE token is a crypto asset that empowers the multi-protocol Ravendex platform and enables $RAVE holders to back up their favorite projects by offering liquidity and receiving rewards. This has allowed users, as token holders, to take active participation in the shaping and building of the Decentralized Finance landscape.
Ravendex is one of the first non-custodial DEX (Decentralised Exchange) on the ADA Blockchain network that enables near-instant and swift transfers of crypto assets and extreme liquidity between ADA and native Cardano coins. Ravendex is a cross-chain crypto exchange that operates using the EUTXO model, popularly known for its unique features and functionalities, such as offering a shared liquidity split among various assets on Cardano ecosystems.
This is one of the first projects on the Cardano Blockchain ecosystem to formulate the notion of a cryptocurrency asset that also functions as a lending/borrowing platform using a recently released update – Alonzo Hard Fork – that enables smart contracts to deposit crypto assets and also collect the interests using a predefined list of rules.
The $RAVE Token is a native token of Cardano, utilized on the Cardano blockchain network. $RAVE has an overall supply of over 1 billion coins. With these $RAVE tokens, users are offered the ability to communicate with the Cardano ecosystem, giving liquidity, staking, and endorsements to various Cardano projects.
Functionalities of RAVE
Here are some of the functionalities offered by $RAVE–
$RAVE Staking – Users who hold $RAVE can use the Ravendex staking platform when it is launched, to a maximum of 25% of additional return on the staked assets. The $RAVE amount allocated in the Cardano ecosystem decides the stake volume while the rewards are given out after every cycle.
$RAVE Liquidity Mining Program – Users who hold $RAVE can choose to offer liquidity to specific projects on the platform’s DEX (Decentralized Exchange) and get a percent of the liquidity fees. This solution is similar to the $RAVE staking.
Paying For Fees – All vetted projects can apply for an IDO (Initial DEX Offering) on Ravendex launchpad while the fees are paid in terms of $RAVE tokens.
Governance – The Ravendex platform plans to evolve itself into a completely DAO (Decentralized Autonomous Organization) where all the decisions will be taken by the governance of the NFT $RAVE holders.
NFT Purchase – Ravendex is one of the first projects on the Cardano Blockchain that has come up with an innovative idea to launch an NFT drop by using the native token, $RAVE.
Where to buy RAVE
Ravendex users can now purchase $RAVE tokens directly from cryptocurrency exchanges –
- Users can buy $RAVE on BitMart, a popular and most trusted cryptocurrency trading platform that instantly allows buying and selling crypto.
- Users can also buy $RAVE on p2pb2b.io, another popular cryptocurrency exchange that offers competitive crypto exchange rates and allows users to get higher profits from crypto investments.
Steps to buying RAVE Token
The Ravendex native token, $RAVE, is currently available on BitMart exchange that offers a plethoric variety of cryptocurrencies such as Bitcoin, Ethereum, USD Tether, and many more. To mention its pros, the exchange pulls more than $1 million worth of daily trade volumes since it has recently gained more popularity among crypto investors and lovers. According to analytical experts, the daily performance of $RAVE has brought itself a consistent position on price charts. It has become one of the leading currencies on the ADA native tokens in terms of daily volume. The Ravendex team plans to launch the AMM (Automated Market Maker)-powered Decentralized Exchange before the 2nd quarter of 2022.
Ravendex has also started a strategic collaboration with the World Mobile Token to allow the platform to reserve Earth Node that will provide internet access especially, in remote areas in African countries through blimps. World Mobile Token (WMT) has planned to provide affordable internet access to more than 1 billion smartphone users, most of who are still struggling to get reliable access to a mobile internet connection.
The Ravendex team is eagerly waiting to identify this lofty project built on Cardano Network backed by IOHK. This smart move would secure and support the Cardano network.
To highlight the key rationale behind the decision to join WMT, the Ravendex team believes that providing the internet connection to the unconnected would not be completely appropriate if the platform did not partner with big players. The platform is optimistic, believing that the impact of this partnership will be a success for both the brands and the Cardano network.
As an integral part of the Earth Node reservation with World Mobile Token, the Ravendex platform will give away a part of its collected rewards to the delegators who have staked ADA on the stake pool of Ravendex once the ISPO is launched.
All in all, the project of Ravendex to create a swap environment on the Cardano exchange will bring more users into the DeFi landscape and empower various projects through its smart contracts functionalities. The introduction of $RAVE will grant the $RAVE token holders the ability to interact with Carano, giving them more endorsements and liquidity to Cardano projects.