DUBLIN, IRELAND / ACCESSWIRE / October 26, 2021 / Ravendex launches the Cardano blockchain-based decentralized exchange that facilitates seamless asset and liquidity provision and transfers between ADA and other Cardano tokens. This way Ravendex will act as a cross chain exchange that utilizes eUTXO model of the Cardano Blockchain which is capable of sharing liquidity by splitting assets on the Cardano ecosystem.
The thing that makes RavenDex different from all other projects by Cardano is the fact that users can earn interest on RavenDex by lending assets to a pool and even by borrowing, while their assets are collateralized.
RavenDex paves the way to introduce the concept of asset lending and borrowing platform on Cardano blockchain with the help of Alonzo Hard Fork which will introduce smart contracts in the cardano ecosystem.
Insights through the Whitepaper
The whitepaper of Ravendex serves as a detailed insight into the project and it shows RavenDex in a new light where it is a Uniswap protocol-based product customized for Cardano blockchain through many unique modifications.
RavenDex would allow participants of the blockchain to create a market by sharing liquidity with others and swap native tokens effortlessly. Swap will cost a fee in exchange for the quick service which is returned to liquidity providers. It is going to be completely P2P where no middlemen are present to capitalize on participants' transactions.
Unlike other decentralized exchanges, RavenDex will be more independent, free from restrictions, and compatible with different types of Cardano-based tokens including its own utility token $RAVE.
Preference of Cardano Network
Several companies are preferring the Cardano network creating a demand for it in financial services that keeps growing.
The best thing about RavenDex is that it will utilize Cardano blockchain rather than 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 gen blockchain that prioritizes energy efficiency. Being a PoS blockchain, Cardano has been found to be 1.6 million times more efficient than Bitcoin.
Distinctive aspects of RavenDex
Though there are hundreds of highly professional decentralized exchanges in the crypto world, RavenDex is going to be the first one based on the Cardano blockchain. But that is not the only thing that makes this project worthy of attention. Some features are as follows:
After the planned release of the RavenDex smart contract happens, it would enable DEX participants to benefit from native assets lending features of the platform. Users would have to connect their wallets like Nami & Gero Wallet in order to deposit assets and then earn interest securely from the 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 suffer low transaction fees.
As a decentralized automated market maker protocol, the speciality of RavenDex lies in the fact that every platform user will be able to swap and trade native Cardano tokens seamlessly without restrictions. Different exchanges that become a part of Cardano's eUTXO architecture are capable of pooling their individual liquidity to provide more benefits to their users.
Being a decentralized exchange platform is a massive feat in itself, especially nowadays when top-tier centralized crypto exchanges around the globe are being hacked or attacked. The secure platform of RavenDex would also reward its users with $RAVE for their services. The team has allotted 50% of its utility token's total supply for the public.
Multifunction liquidity pool
RavenDex will enable liquidity providers to choose the most profitable pools for any particular pair to obtain the highest returns making the whole experience most capital efficient. To achieve this, the team is working on implementing several pricing algorithms for each of the liquidity pools available on RavenDex. Though you might think that this strategy would lead to unbalanced liquidity, it simply directs money to the most efficient pool allowing for smooth incorporation.
RavenDex released an exclusive demo of their product featuring its front-end design that is both user-friendly and made to work as a solution to Cardano's concurrency issue. It is fascinating to see how quickly the project is progressing.
A few days ago, the developers of RavenDex successfully added "dark mode" on its swap interface to make it less eye-straining for users that have highly sensitive retinas. It goes without saying that the entire infrastructure of RavenDex would be powered by $RAVE
The brains working behind RavenDex and its unique and customized Cardano-based decentralized finance (DeFi) ecosystem are a part of Ravendexlabs.
The project is working on including more talented individuals like ex-developers from Plutus Pioneer to join their mission in order to accelerate the development pace.
Updates regarding their accomplishments can be found on the official telegram channel.
$RAVE Token Pre Sale
RavenDex has announced that the Presale for $RAVE token will be held on 26th October to allow potential investors who missed the seed sale a chance to join the pre-sale round as you can still make it to the list of early adopters of RavenDex.io and obtain $RAVE Tokens.
Updates regarding the pre-sale round are available on RavenDex social media.
For more information, visit
Ravendex Labs Media Office
Email: [email protected]
SOURCE: Ravendex Labs