Ravendex Review: First Non Custodial DEX On The Cardano Ecosystem

Ravendex is the first non-custodial decentralized exchange in the world, which uses the AMM protocol to operate on the Cardano Blockchain.
Ravendex is the first non-custodial decentralized exchange in the world, which uses the AMM protocol to operate on the Cardano Blockchain.

Ravendex is an all-in-one trading tool for people who open their positions on decentralized exchanges. With its indistinctive architecture, AMM protocol, and wide range of features, it aims to fast and secure delivery.

What is Ravendex?

Ravendex is the first non-custodial decentralized exchange (DEX) in the world, which uses the AMM protocol to operate on the Cardano Blockchain. The Cardano Ecosystem uses the protocol to trade their assets at a price determined by the liquidity they provide. Ravendex enables fast asset and liquidity transfers between ADA and native Cardano tokens.

It’s a cross-chain exchange that uses the eUTXO architecture, which is noted for its distinctive features, including the flexibility to split shared liquidity across multiple assets on the Cardano Ecosystem.

This is also one of the few initiatives on the Cardano Ecosystem to envision a cryptocurrency asset lending and borrowing system, thanks to the recently released Alonzo Hard Fork update, which allows smart contracts to deposit assets and receive interest according to a set of pre-defined parameters.

What makes Ravendex unique?

Ravendex, with its unique combination of eUTXO architectural model and Cardano Blockchain, aims to create a comprehensive set of Defi-specific services powered by its utility token $RAVE. 

Here are some of the unique features of the ravendex ecosystem:

  • Cross-chain exchange and swap protocol

Users can securely exchange and trade native Cardano tokens using Ravendex. The eUTXO architecture provides exchanges with a unique ability to pool liquidity.

Cross-chain protocol
Cross-chain protocol
  • Staking & Yield Farming

Users who hold $RAVE tokens can stake them to earn more RAVE and Exclusive NFTs. $RAVE stakers have two options for staking.

  1. The daily reward mechanism is fixed, as benefits are shared among all stakers based on the amount of $RAVE staked. The company uses a semi-custodial protocol to make this possible until it’s completely deployable on the mainnet.
Available wallets
Available wallets
Staking project
Staking project
Deposit $RAVE
Deposit $RAVE

2. Decentralized Snapshot Mechanism, in which $Rave holders simply register their wallet and convert it to a Nest, after which snapshots are taken each epoch and incentives are collected before distribution phase.

  • Native assets lending protocol

The pooled lending and borrowing mechanism that Ravendex is developing, offers users the opportunity to borrow and pool assets, The mechanism can also be used for multiple DeFi applications.

  • ERC-20 / BEP-20 to Cardano converter

Users who want to migrate their tokens from Ethereum or Binance blockchains to the Cardano blockchain can easily do so using Ravendex’s ERC-20 to Cardano Token Bridge with just a few clicks.

ERC-20 to cardano converter
ERC-20 to Cardano converter
  • Peer To Pool, Pool To Peer Lending Protocol (P2P)

Users can borrow pooled assets and pay them back with interest at a preset time via pooled lending contracts, making decentralized lending and crypto loans considerably easier to implement.

  • NFT Marketplace

$RAVE token holders can easily list their $RAVE NFTs, set a price, and sell it to earn a profit on the marketplace.

$RAVE Token

Ravendex offers a native utility token $RAVE, which is available on crypto exchange giants like BitMart and P2PB2B for trading. With a maximum supply of $1,000,000,000 $RAVE, it covers a massive range of commodities involving Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). $RAVE is becoming a huge attraction among crypto enthusiasts as it pulls more than $1 million of trading volume on a daily basis.

$RAVE comes with many utilities and use cases such as staking, yield farming, and governance. Its sustained daily success has won it a spot as one of the top brands on the Cardano native tokens by daily volume.

Here are some of the utilities that $RAVE offers:

  • Staking

Users can use $RAVE to earn extra income by staking the tokens. The amount of $RAVE staked is directly proportional to the rewards one gets after each cycle. 

  • $RAVE Liquidity Mining Program

Users can choose to provide liquidity to our projects using $RAVE on the DEX platform. Similar to staking, this gives them a chance to earn a percentage of the liquidity fees.

  • Paying for platform fees

On Ravendex’s launchpad, verified projects can apply for IDO, with costs paid in $RAVE Tokens.

  • Governance

The platform plans to evolve into a complete Decentralized Autonomous Organization where $RAVE governance NFT holders will take decisions.

  • NFT purchase

Ravendex, with its innovative team, has launched an NFT drop using its native token.

$RAVE Distribution

Ravendex has allocated half of the $RAVE for public sale and 28% for staking and yield farming. The rest of them are allocated to the team and ISPO with 3% for locked ecosystem reserve.

$RAVE token Distribution
$RAVE token Distribution

$RAVE NFT

The innovative Ravendex team has launched a 10000 Unique Pixelated Bird NFT collection with proof of ownership maintained on the Cardano blockchain. Unlike most NFTs, $RAVE NFT have real utility within the Ravendex Ecosystem, including:

  • Ability to stake your $RAVE NFT and earn $RAVE as a benefit
  • Ability to list and sell your asset on a variety of secondary markets to earn royalties through sales.
  • Ability to stake the $RAVE NFT and support projects launched via Ravendex’s IDO.

Roadmap

In the diagram below, you can see the events planned by the Ravendex team for 2022.

Roadmap
Ravendex Roadmap

Conclusion

To conclude, Ravendex is on a mission to provide a fast, more secure, and scalable solution to investors in decentralized exchanges. The native token $RAVE is already is listed in exchange giants and, with its massive potential, is grabbing crypto investors’ eyes. The solid protocol and architecture make Ravendex unique and worth trying.

You can have a look at more such reviews of new projects by TheCoinRise here.