Cardano Dex Ravendex Launching It’s ISPO Ahead Of It’s Testnet Release
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
Over the years, Cardano has emerged as one of the strongest and high-performing crypto projects in its relevant industry despite not having a working DApp yet.
One of the things missing within the Cardano ecosystem is its own native decentralised exchange.
ravendex.io another budding crypto project intends to set the records straight by building the world’s first completely decentralised exchange platform on the Cardano ecosystem.
Ravendex does not require an introduction as the platform has successfully made a name for itself since the previous year after announcing it’s project launch through a post on popular bitcointalk forum.
Currently, there are several Cardano-based projects active within the market and each one of them targets a different type of audience. But there is none like Ravendex as they are the first project taking full advantage of the Cardano (ADA) ecosystem.
When fully launched, Ravendex would have many Novel Features that would increase the adoption and Total Value Locked on Cardano Ecosystem as they are currently developing a Decentralized Exchange, IDO Launchpad, Staking & lending Platform where users can borrow by collateralising assets.
There is significant potential in Ravendex to quickly grow into one of the biggest decentralised exchange platforms but working entirely for the Cardano ecosystem.
Reasons Why Ravendex is Unique
- Ravendex will offer a unique and easy to use DEX for Cardano Native Tokens to be traded in a safe and decentralised manner. Ravendex would materialise as a decentralised platform where users can exchange and even trade Cardano native tokens without having to worry about security complications.
- Native assets lending protocol that allows users depositing Volatile assets in a contract to access loans of Stable Coins. This functionality open doors to a plethora of DeFi mechanisms.
- Ravendex team is also eyeing the exclusive NFT industry which has taken the world by surprise in a remarkable way.
Holding $RAVE token, the native currency on Ravendex will provide users with the opportunity to earn more $RAVE by staking and yield farming and even obtain rare NFTs. Which will have real utility.
- Ravendex also features a Cardano Native Token Staking Platform where users can Stake Their $Rave tokens to earn more rewards in $RAVE. This will subsequently be able to accept not just Rave but any Cardano Native token.
- The increasing demand for the NFTs and the need for a reliable NFT marketplace has also been taken into account by the Ravendex team. This is why Ravendex is preparing for its brand new NFT marketplace open for all $RAVE holders. Users who own $RAVE can list their own NFTs, put a price tag on them, and proceed to sell them.
- Ravendex ISPO will be coming up shortly as ADA holders can be able to Stake Their ADA to RAVEP pool to earn Rewards In ADA & $RAVE.
- An ISPO is a new fundraising mechanism that allows delegators of a POS (Proof-of-Stake) network to divert staking rewards towards a project of their choice and get project tokens in return. ISPOs are only possible on the Cardano blockchain because of its unique stake pool delegation structure.
Ravendex Will Be utilizing the new innovative defi fundraising model Initial Stake Pool Offerings (ISPOs).
Delegators who wish to Stake their ADA and Earn rewards in Both ADA & $RAVE when the ISPO kicks off can do so by Staking their ADA to RAVEP Stake pool.
Since the time it was launched, Ravendex has reached several milestones including listing $RAVE token on BitMart and P2pb2b.
Ravendex token will be available for trading right after the BitMart listing.
In order to celebrate this significant listing, Ravendex has announced an event NFT drop during which $RAVE holders can mint NFTs exclusively.
When minting opens, $RAVE holders can be able to mint the NFTs by sending a certain amount of $RAVE to the address in the feather requirements to mint a $RAVE NFT, The Higher Rave You send, the More NFts you get.