RavenDex Launches Custody-Free Decentralized Exchange on Cardano Ecosystem Powered by $ RAVE Token

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DUBLIN, IRELAND / ACCESSWIRE / October 26, 2021 /Ravendex Launches the decentralized exchange based on the Cardano blockchain which facilitates the transparent provision of assets and liquidity and transfers between ADA and other Cardano tokens. In this way, Ravendex will act as a cross-chain exchange that uses the eUTXO model of the Cardano Blockchain which is able to share liquidity by dividing the assets on the Cardano ecosystem.

What sets RavenDex apart from all of Cardano’s other projects is the fact that users can earn interest on RavenDex by lending assets to a pool and even borrowing while their assets are secured.

RavenDex is leading the way in introducing the concept of an asset lending and borrowing platform on the Cardano blockchain with the help of Alonzo Hard Fork who will introduce smart contracts into the cardano ecosystem.

Insights through the white paper

Ravendex’s white paper gives a detailed look at the project and shows RavenDex in a new light as it is a product based on the Uniswap protocol customized for the Cardano blockchain through many unique modifications.

RavenDex would allow blockchain participants to create a market by sharing liquidity with others and swapping native tokens effortlessly. The swap will cost a fee in exchange for the prompt service that is returned to the liquidity providers. It will be completely P2P where no intermediary is present to capitalize on the transactions of the participants.

Unlike other decentralized exchanges, RavenDex will be more independent, free of restrictions, and compatible with different types of Cardano-based tokens, including its own $ RAVE utility token.

Cardano network preference

Several companies favor the Cardano network, creating an ever-growing demand for financial services.

The best thing about RavenDex is that it will use the Cardano blockchain rather than the Binance or Ethereum chain which are considered the most popular choice for building a decentralized exchange.

The reason for this decision is quite simple because Cardano is a 3rd generation blockchain that prioritizes energy efficiency. Being a PoS blockchain, Cardano has been proven to be 1.6 million times more efficient than Bitcoin.

Distinctive aspects of RavenDex

While there are hundreds of highly professional decentralized exchanges in the crypto world, RavenDex will be the first based on the Cardano blockchain. But that’s not the only thing that makes this project worthy of attention. Some features are as follows:

Loan protocol

Following the planned release of the RavenDex smart contract, this would allow DEX participants to benefit from the platform’s native asset lending features. Users should connect their wallets like Nami & Gero Wallet in order to deposit assets and then earn interest securely from DEX platform.

ERC-20 to Cardano converter

A cross chain bridge is in the works and it will be an important part of the RavenDex model. This gateway will seamlessly migrate ERC-20 tokens belonging to the Ethereum blockchain to Cardano and incur low transaction fees.

Exchange protocol

As a decentralized automated market maker protocol, RavenDex’s specialty is that every user of the platform will be able to trade and trade native Cardano tokens seamlessly without restrictions. The various exchanges that are part of Cardano’s eUTXO architecture are able to pool their individual liquidity to provide more benefits to their users.

Benefits of transparency

Being a decentralized exchange is a feat in itself, especially nowadays when the world’s leading centralized crypto exchanges are hacked or attacked. RavenDex’s secure platform would also reward its users with $ RAVE for their services. The team has allocated 50% of its total utility token supply to the public.

Multifunction liquidity pool

RavenDex will allow liquidity providers to choose the most profitable pools for a particular pair in order to achieve the highest returns, making the experience the most capital efficient. To achieve this, the team is working on implementing multiple pricing algorithms for each of the liquidity pools available on RavenDex. While you might think this strategy would lead to imbalanced liquidity, it simply directs the money to the most efficient pool allowing for smooth incorporation.

Recent developments

RavenDex has released an exclusive demo of its product showcasing its front-end design that is both user-friendly and designed to work as a solution to Cardano’s concurrency issue. It’s fascinating to see how quickly the project is moving forward.

A few days ago, the developers of RavenDex successfully added “dark mode” to its exchange interface to make it less tiring for users with very sensitive retinas. It goes without saying that the entire infrastructure of RavenDex would be powered by $ RAVE.

The brains behind RavenDex and its unique and personalized Cardano-based decentralized finance (DeFi) ecosystem are part of Ravendexlabs.

The project is working to include more talented individuals like former Plutus Pioneer developers to join their mission to accelerate the pace of development.

Updates regarding their accomplishments can be found on the official Telegram channel.

$ RAVE Token Pre-sale

RavenDex announced that the Presale for the $ RAVE token will take place on October 26th to allow potential investors who missed out on the seed sale to join the presale cycle as you can still get on the RavenDex.io early-bird list and get $ RAVE tokens.

Updates regarding the presale cycle are available on RavenDex social media.

For more information visit

Website: https://ravendex.io/

Twitter: https://twitter.com/Ravendexlabs

Telegram: http://t.me/ravendexlabs

Github: https://github.com/Ravendexlabs

Media inquiries
Ravendex Labs Media Office
Email: [email protected]

THE SOURCE: Ravendex Laboratories

See the source version on accesswire.com:
https://www.accesswire.com/669720/RavenDex-Launches-the-Non-Custodial-Decentralized-Exchange-on-the-Cardano-Ecosystem-Powered-by-RAVE-Token



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