Cardano-Based Decentralized Exchange Ravendex Readies for Staking & Launchpad Platform Release
January 25th, 2022 at 11:22 am UTC · 2 min read
The crypto market has been bearish for the past few days and Investors have cut most cryptocurrencies including Bitcoin from their portfolios to avoid volatile assets while considering the low side of global markets due to hawkish Federal Reserve, expecting higher interest rates.
This still does not stop Ravendex from launching its RAVE NFT, a 10000 Pixelated Raven Birds Collection with proof of ownership stored on the Cardano blockchain, as Ravendex team understand that quality remains forever.
The NFTs will have real utilities, unlike others as it will earn users rewards in $RAVE, a coin launched by Ravendex to use in their ecosystem. Users can also stake $RAVE NFTs to increase their allocation weight for a project launching through their IDO.
Rave NFT holder can also List and sell their NFts on Cardano Secondary NFT marketplaces.
$RAVE token, the utility token of Ravendex, a Cardano-based Decentralized Exchange aiming to bring the AMM protocol to Cardano as Uniswap has done for Ethereum, has maintained a steady price and volatility despite the huge market dump.
Rave Token will offer holders the availability to vote on the Rave governance protocol, Trade, Provide Liquidity and Yield Farm the LP Tokens, stake and endorse upcoming projects that would launch through their IDO Platform.
The token’s price will be determined by the community as prove of its goals towards decentralization, currently trading on Bitmart and it has a current market cap of over 5 Million Dollars.
When launched, Ravendex will be the first project to utilize the AMM Protocol on the Cardano Ecosystem as others have chosen the Order Book and Scooper Models. Because it is based on the Cardano network, it is environmentally friendly and has low fees compared to proof-of-work mined coins like Bitcoin and Ethereum.
The Cardano roadmap is currently focusing on several updates to optimize and scale the network, hoping to achieve faster transactions and adopt the layer 2 Hydra solution, as it’s partner company Input Output just announced a promising scaling update that is supposed to increase Plutus script memory units per transaction to 12,5 million.
About Ravendex
Ravendex is on a mission to build and develop cutting edge De-Fi Tailored solution and also a decentralized exchange on Cardano Blockchain.
Buy Rave on BitMart.