RAVE tokens react positively as Ravendex enables important features: more
Ravendex, one of Cardano’s first decentralized finance protocols, the largest Proof of Stake (PoS) network, shared the details of its key updates.
Cardano (ADA) Ravendex DeFi Protocol Starts Staking
According to the official statement by Ravendex Teams and services now support staking options. With the first release of this device, Ravendex’s core native utility and governance asset, RAVE Token Staking, will be available.
Ravendex Stakepool: Infrastructure https://t.co/l9X2ws1Bqt
— Ravendex (@Ravendexlabs) February 17, 2022
RAVE stackers are now offered an annual percentage of 12%. By press time, the net number of tokens bet exceeded 100 million RAVE. This shows a great interest in Ravendex betting opportunities among Cardano (ADA) ecosystem enthusiasts.
In the DeFi segment, staking refers to the practice of crypto owners “locking” their wealth on this service or on that service in order to earn regular rewards.
New generation decentralized services like Ravendex (RAVE) regularly distribute rewards in an unmanaged manner through smart contracts.
As U.Today previously covered, Ravendex announced the front-end design for its graphic interface in the fourth quarter of 2021.
Ravendex also celebrates development progress and community building milestones Release The number of giveaways.
Ravendex’s Initial Staking Pool Offering (ISPO) Launched for ADA Holders
In addition, Ravendex representatives have announced a new form of funding, the Initital Stakeing Pool Offering (ISPO). We plan to introduce the principles of distributed token sales (IDO) to the ADA stacker community.
At ISPO, participants must prioritize this fundraising activity or the specific staking pool associated with that fundraising activity to lock ADA tokens. Doing so will award the ISPO Organizer’s native tokens.
With Ravendex, you are invited to lock your ADA to the RAVEP stake pool. All rewards will be transferred to the contributor in the form of RAVE tokens.
A total of 66,560,000 RAVEs have been assigned to the ISPO initiative by the Ravendex team. ISPO will be held at 32 Cardano (ADA) Epoch between Epoch 320 and Epoch 352. For each ADA token bet, Ravdendex supporters will get 0.0325 RAVE for each epoch.
ADA holders can bet tokens on either the Yoroi or Daedalus wallet in a fully decentralized way.
Despite the big setback, the crypto market is optimistic about Ravendex’s progress and the launch of its staking program. On the first day of the staking program, the price of RAVE / USDT on major exchanges jumped from $ 0.003 to $ 0.0045, witnessing a rise of more than 50%.
Based on RSI, MA and Bollinger Bands indicators, traders and analysts predict that RAVE prices could skyrocket to even more impressive numbers. It should be noted that the coin hit a record high on December 25, 2021, above the $ 0.024 level.
Building an all-in-one DeFi ecosystem for Cardano (ADA)
Ravendex (RAVE) is building an all-in-one decentralized finance protocol (DeFi) with DEX using AMM for different use cases of the Cardano (ADA) ecosystem.
Ravendex’s product toolkit includes a non-storage wallet for Cardano’s assets, a decentralized cryptographic conversion system, a “yield farming” module, and more recently a staking ecosystem for RAVE tokens.
In addition, Ravendex features a unique stablecoin module and a full set of equipment for decentralized lending / borrowing of ADA and other major Cardano-based cryptocurrencies.
The DEX went live in January 2022, before the launch of ISPO was announced.
In the first quarter of 2022, the platform also organized stress testing during the open test net phase.
