Bitcoin has nosedived since its peak in November; investors reflect some support on charts at $42,000 levels. However, a recent report by the International Monetary Fund (IMF) has concluded that global market prices and Bitcoin market prices are correlated.
As central banks around the globe look forward to cutting interest rates, the money supply in the markets might decrease with a high possibility. This will reflect in stock prices around the world, and the correlation will face its real test of correlation between prices of Bitcoin and Stocks globally.
Ravendex is the first decentralized exchange built on the Cardano blockchain, completely non-custodial. It is launching an NFT project with 10,000 uniquely pixelated $RAVE NFTs.
Ravendex is the first project to use the Alonzo Hard Fork update on the Cardano Ecosystem, which allows smart contracts to deposit assets and collect interest as per rules. Ravendex aims to build a sturdy product line of DeFi specific services, which their $Rave token would power.
Unlike many other projects, ten thousand uniquely pixelated $Rave NFTs will have real utility in the Ravendex ecosystem. Staking tokens will be one of the highlighting features of this NFT project. Holders can stake $RAVE NFTs to endorse a project launching through their IDO. They can also list & sell their assets on other marketplaces.
$Rave NFT seekers can mint these tokens once the minting opens. They can do so by visiting their NFT Minting Page.
Users will need to click on ‘Feather Requirements’ and pay 50 ADA to the minting address generated. The address will be generated once the minting starts. Users will be able to see their NFT once the payment is verified on the Cardano Blockchain – their proof of ownership will be stored on the Cardano network as well.
Ravendex also plans to launch an Initial Stake Pool Offering (ISPO) which is a new fundraising apparatus that allows the delegates of POS (Proof-of-Stake) network to stake reward tokens towards a project (of their choice) and get project tokens in return. This unique mechanism allows the community to support a particular Cardano-based project without their assets ever leaving their wallets. It leverages Cardano’s reward incentive structure which is native to the network.
Cardano blockchain’s unique stake pool delegation structure makes ISPO’s possible. The DeFi fundraising model of Initial Stake Pool Offering will be used by Ravendex, in which 65,000,000 total $RAVE rewards will be offered.
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