NFT staking? What’s that?
An innovative way to earn passive income is by staking your NFTs on an exchange of your choice while maintaining ownership. Note that you should check if your choice of DEX supports NFT staking. Also, check all the details of the NFT eligible for staking and the rewards and returns you would be liable to.
What is Ravendex? What does it do?
Ravendex is a Cardano-based decentralized exchange (DEX) that allows cryptocurrency participants and investors to offer capital reserves on any native Cardano (ADA) token and create a market pair for someone else to swap the native tokens while utilizing the Cardano blockchain’s safety and low fees.
It is one of the first decentralized exchanges created on the Cardano blockchain. It is also the first exchange to utilize the Alonzo Hard Fork update on the Cardano Ecosystem. It smart contracts to deposit assets and collect interest as per rules.
What is so special about $RAVE NFTs? Why is everybody so excited about it?
Ravendex has launched its NFT project, and its sale is currently live on their NFT minting page. You can buy a single $RAVE NFT for as low as 50 ADA.
Ten thousand (only 2000 left now) uniquely pixelated $Rave NFTs have real utilities in the Ravendex ecosystem, unlike many other projects. Staking tokens is 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.
Stakers will win the $RAVE tokens periodically.
How do you earn? What are they expecting from you?
Investors of the $RAVE NFT shall at least hold 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.
This is how Ravendex is generating utility and value for its NFT project. Investors can stake their NFTs for the following periods:
- Two months
- Four months
- Six months
- One year
Investors can earn up to 60% APY depending upon the amount of $RAVE token they hold in their wallets.Â
Ravendex is also working on an NFT gamification motivated by poker and slot machines, giving Rave NFT and Token holders more places to stake their NFTs for an opportunity to earn greater rewards.
The company has onboarded more experienced Haskell and Plutus (both are smart contract programming languages, mainly for Cardano) engineers that would rush our DEX development to guarantee that we ship on the mainnet in the most limited conceivable time.
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