Crypto is hailed for its instant international fund-transfer speeds and low transaction costs when compared to banks. That leaves investors and crypto enthusiasts to root for the lowest transfer fees among tokens. Well, when you do search for tokens with low transfer fees, Cardano (ADA) will be among the top choices almost everywhere.
Cardano, which uses environment-friendly proof-of-stake mining, is very popular for low transfer fees. Since the Cardano blockchain was launched in 2017, it has picked up popularity with speed among various sections of crypto fanatics. At least 140 projects have been deployed since being launched on the blockchain.
The Ravendex project is one of the most widely spoken topics within the Cardano community. The company plans to develop an all-in-one decentralized exchange (DEX) and power DeFi Applications by providing them with a wide range of services, including an IDO Launchpad and services related to borrowing and lending.
Their system guarantees consistent cross-border transactions with negligible fees. The Ravendex group has confidence in the capability of the Cardano ecosystem and has plans to take more time to a higher level. The $RAVE token has been familiarized by project pioneers with making the Ravendex ecosystem more self-reliable. The token had an immense achievement with its public and seed sale.
In October, a total of 200 million tokens were up for the seed sale, out of which 181.4 million (over 90%) tokens were sold. The token is listed on various exchanges (CoinMarketCap, BitMart, and Bitrue) alone this year.
Ravendex also has a superb line of NFTs which were launched just a month ago. 10,000 $RAVE NFTs have certified utilities in the Ravendex ecosystem, as opposed to various projects. Staking tokens is one of the highlights of this NFT project. Experienced Haskell and Plutus (both are smart contract programming languages, essentially for Cardano) engineers are hired to accelerate their DEX development and to guarantee that they finish the mainnet in the earliest period.
An individual can endorse a project launching through their IDO and earn rewards by staking. They have to stake for a minimum period of one month, with options to stake for a period of up to six months. They must take at least $50 ADA in Ravendex’s ISPO pool, RAVEP. Individuals must also hold at least 30,000 $RAVE in the same wallet. Stakers will win the $RAVE tokens periodically (just like interest on a bond).
One has a chance to earn up to 60% APY on their investments. For this, Ravendex suggests holding as many $RAVE tokens in their wallet for the system to filter individuals with more belief in their project ( in the crypto industry, individuals earn ‘rewards’ and not interest on their investments as they do traditionally on interest-bearing. This high-risk-high reward system was developed in the early days of DeFi to encourage investors to show belief in projects when banks were not paying single heed).
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