Cardano Based-Ravendex to Hold First Internal AMA on 30th November
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Ravendex is pleased to inform the community regarding its FIRST Internal AMA on 30th November. Ravendex allows non-custodial decentralized asset and liquidity swaps between native Cardano tokens and ADA for the first time on the Cardano Blockchain. With its unique features like distributing shared liquidity across numerous assets on the Cardano ecosystem, it is a cross-chain exchange.
It features four multi-function liquidity pools which are as mentioned below;
Constant-product pool
Stable pool
Multi-asset pool
Dynamic pool
APY rates were initially lower than other lending platforms on various blockchains, such as AAVE on Ethereum. Due to Cardano Blockchains speed and low transaction costs, the utilization of borrowed funds and overall returns to investors were greater and more efficient than other networks.
Decentralized Automated Market Maker System
Soon, the much-anticipated decentralized automated market maker system, RavenDex, will be available for trading. This means an investor can transfer tokens across blockchains without a third party, like an exchange.
RavenDex’s decentralized asset exchange utilizes HTLC technology. The protocol ensures the exchange if everyone agrees. On the other hand, those who do not complete the operation will be refunded.
Internal AMA
There will be a first internal AMA on November 30th, followed by an external AMA on Cardanodaily. A prize pool of $100 BUSD is also announced in order to reward the participants. It is commendable to discover that an AMA will be conducted soon, as Charles Hoskinson recently warned about the dangers of not knowing the team, who is accountable for the project, what their experience is, and how to ensure that the project will be delivered and completed properly.
With unlimited access to $RAVE staking rewards, Ravendex now offers the community a straightforward technique for earning passive income in $RAVE through the staking platform.
Staking For Revenue
As revealed by Ravendex, $RAVE holders may stake their tokens to receive $RAVE rewards via a simple web interface. Ravendex will debut its staking platform sooner than anticipated. Thus, making Ravendex a more lucrative platform for early adopters.
With a Non-Fungible Token Staking Protocol, Ravers may stake their rare digital collectibles and earn reward points. WHEN LAUNCHED, $RAVE token holders may use the staking platform to earn up to 25% more.
Each cycle, the stake is determined by the quantity of $RAVE allocated. Holding $RAVE allows investors to give liquidity to DEX projects and earn a share of the fees. Similar to staking.
About Ravendex
Ravendex is one of the first applications in the Cardano Ecosystem to use the newly announced Alonzo Hard Fork upgrade, which allows smart contracts to deposit assets and receive interest according to pre-defined parameters.
For more news and latest updates please visit Ravendex channels: Telegram, Twitter, GitHub.
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