Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The first Cardano-based decentralized exchange developer, RavenDex, has presented to the public the first version of the future trading platform powered by the Cardano network. The project’s $RAVE token is also built on the Cardano Network and has a total supply of one billion tokens.
Token holders will be able to interact with the Cardano network, provide liquidity and earn by staking them. Currently, the project's team has announced the RAVE token private sale that is in the first stage.
The first phase of the token sale will be held as a private sale for early adopters only. The sale lasted until Oct. 5. Interested investors were able to join the sale on the RavenDex website. In total, there will be five selling phases with an overall 100 million tokens available for individual investors.
The seed phase will be reached once the public sale opens its way to 200 million RAVE tokens for a slightly increased price compared to the private sale. Investors will be able to purchase any amount of tokens desired before it goes public.
The project's goal is to create a fully decentralized ecosystem that functions inside of a large cluster: the Cardano community. Two communities are expected to collide to place themselves inside of the cryptocurrency industry with the ability to vote on other viable projects.
There are two main issues that RavenDex projects are looking forward to solving: the development of a decentralized finance system on Cardano and adding significant value to it. The first proper decentralized exchange built on Cardano will become a foundation for an extensive decentralized finance system. RAVE token will become part of the utility structure and will find its use directly inside of the project, which adds even more value to it.
The Cardano ecosystem has been chosen by RavenDex as the best platform that allows cross-border transactions with low fees. But to make the Cardano ecosystem more efficient, the team will create new solutions for crypto investors that will bring the network to the next level.
Creating a platform where investors will not have cross-chain transaction glitches, the RavenDex Cross-Chain Exchange and Swap Protocol has guaranteed increased trading volume and liquidity on its platform.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
U.Today Editorial Team
Vladislav Sopov