The Ravendex team has gladly announced its main project to the community. The company plans to develop an all-in-one decentralised 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.
Using the Cardano ecosystem, Ravendex has allowed ADA holders to stake their tokens. They will be rewarded with Cardano every five days. The company has utilized it to develop a mechanism by which users can earn $RAVE tokens without spending their ADA.
They have been running their ISPO for days with a mission to divert investors to stake their Cardano tokens and earn as many $Rave tokens as rewards. Ravendex claims that it would also help the Cardano network to decentralize.
Cardano holders staking to the RAVE pool will receive 0.0325 Rave Tokens for every ADA stake per epoch. Users will also be able to vote for their favorite projects by holding their $RAVE tokens. The more the better, because each token adds weight to the vote.
A Cardano-native decentralized asset, Rave has been listed on exchanges like CoinMarketCap, Bitmart, Bitrue, and Sundaeswap. It is also set to be listed on a top-rated exchange in the coming days.
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. Its daily trading value is above $300,000, as per CoinMarketCap.
How to stake?
1. Use Daedalus or Yoroi wallets which allow ADA holders to stake their assets to pool in exchange for rewards.
2. With the Ticker RAVEP, users just need to stake to the Ravendex stake pools. They will be rewarded with $RAVE tokens based on the amount and duration of ADA staked.
Go to the Ravendex ISPO page for more information on earning rewards without spending your ADA!
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