By
Steve Muchoki
April 16th, 2024
Revuto strives to help talented developers take full advantage of Cardano’s many benefits, including its fast-growing ecosystem, high-speed confirmation times, low-cost transaction fees, and scalability.
Revuto, a decentralized micro-lending and borrowing blockchain platform, announced the launch of a new $2 million investment fund dedicated to Cardano-based startups.
According to Revuto, this is a first-ever fund focused on supporting and expanding the Cardano ecosystem. The idea is to offer support to Cardano (ADA) startups as their earliest backer before other investors provide their support in the initial coin offering (ICO).
“We want to support Cardano projects as early as possible, and do that using our experience from a recent oversubscribed ICO, the 1st of its kind on Cardano. We’re in an incredible position to have the funding, tech, and community ready to support your next project on Cardano. The R fund will help with setting projects up for a successful ICO and then using one of the biggest communities to spread the world and help you acquire initial users and backers,” said Vedran Vukman, the Chief Executive Officer (CEO) of Revuto.
In addition to the financial backing, Revuto wants to provide other types of support to outstanding builders, including marketing support. Moreover, the company will provide guidance to startups for launching an ICO on the Revuto Launchpad, organize hackathons, as well as help through other means by leveraging its own community.
📋[R FUND MAIN OBJECTIVES]📋
R Fund will provide fundings and boost the perspective projects with backup from our community🏋🏻♂️#Revuto will be the first ticket before an ICO of new projects that are built to accelerate the creation on @Cardano, the fastest-growing #blockchain.📈 pic.twitter.com/DIQ2QC4DvQ
— Revuto (@get_revuto) September 10, 2021
Unlike some other platforms that only provide project and startup funding, Revuto will also offer mentorship in an effort to help expand the Cardano ecosystem.
“With one of the most active and biggest communities assembled around Revuto, the stage is already set for more Cardano ICOs and we are looking forward to rising the tide and growing the ecosystem. We want every developer and token creator to leverage growing power and community of Revuto and R fund when thinking about launching their product,” added Vukman.
Revuto secured $10 million through its ICO in a matter of minutes. The blockchain platform counted over 2.5 million early access sign-ups and according to the company, the launch of the R Fund is its way to give back.
Revuto strives to help talented developers take full advantage of Cardano’s many benefits, including its fast-growing ecosystem, high-speed confirmation times, low-cost transaction fees, and scalability.
Vukman also said that the R Fund investment will become public by the end of October and that the platform is working to launch new products to help facilitate the growth of Cardano projects even further. Project leaders will be able to apply for R Fund support in the coming days on Revuto’s official website.
Revuto utilizes Cardano native tokens and decentralized finance (DeFi) to pay for subscriptions in a bid to help users save money without regard to changing crypto market conditions. Users can pay for Revuto’s services with the Revuto debit card, while the build-in wallet supports Cardano-based tokens.
Revuto is focused on supporting both old and new Cardano-based startups and projects that stand out from competitors. The co-founder, Josipa Majic, characterized the new fund as “your first ticket prior to an ICO.”