By developing a host of DeFi services while considering the very motive behind a decentralized system, Ravendex wants to become the first all-in-one Cardano-based project. They also plan to develop their decentralized exchange powered by the $RAVE token.
Unlike other Cardano-based projects on the market which only focus on a single service, Ravendex is the only project to make the most out of the Cardano (ADA) system. It 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 is now reportedly working with other Cardano projects to make their ”all-in-one” goal successful.
The $RAVE token mentioned in the previous paragraph has been introduced by project decision-makers to make the Ravendex ecosystem more self-sustainable. The token had massive success with its public and seed sale. Out of the 200 million tokens up for seed sale in October 2021, 181.4 million (more than 90%) tokens were sold. The token is listed on different exchanges (CoinMarketCap, BitMart, and Bitrue) alone this year.
They also have their line of NFTs which were released a month ago. Ten thousand (only 2000 left now) uniquely pixelated $RAVE NFTs have real utilities in the Ravendex ecosystem, unlike many other projects. Staking tokens are one of the highlighting features of this NFT project. Experienced Haskell and Plutus (both are smart contract programming languages, mainly for Cardano) engineers are on board to speed up their DEX development to guarantee that they deliver on the mainnet in the most conservative period.
In order to endorse a project launching through their IDO and earn rewards by staking NFTs investors must be willing to do it for one, two, four, or six months. They must hold at least 30,000 $RAVE in the same wallet and must stake at least $50 ADA in RAVEP, Ravendex’s ISPO pool. More than $9 million in ADA have been staked in the pool, and more contributors/investors are expected. You have a chance to earn up to 60% APY. In short, the more tokens you stake, the better are your chances to earn a higher APY.
Ravendex has further advanced in customer engagement and satisfaction by launching a community reward program. However, the details of the program will be announced soon.
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