RavenDex, a fast-growing project built on the Cardano ecosystem, has announced the listing announcement of Ravendex (RAVE) on Bitrue, a top-tier crypto exchange.
Consequently, RAVE tokenholders can buy and sell RAVE tokens through the new exchange, further increasing its reach and adoption.
NFT staking? What’s that?
An innovative way to earn passive income is by staking nonfungible tokens (NFTs) on an exchange while maintaining ownership. Note that users should check if their choice of decentralized exchange (DEX) supports NFT staking. Also, check all the details of the NFT eligible for staking and the rewards and liable returns.
What is RavenDex? What does it do?
Ravendex is a Cardano-based DEX that allows cryptocurrency participants and investors to offer capital reserves on any native Cardano (ADA) token and create a market pair for someone else to swap the native tokens while utilizing the Cardano blockchain’s safety and low fees.
It is one of the first DEXs created on the Cardano blockchain. It is also the first exchange to utilize the Alonzo hard fork update in the Cardano ecosystem. It uses smart contracts to deposit assets and collect interest.
What is so special about RAVE NFTs?
RavenDex has launched an NFT project: 2,000 uniquely pixelated Rave NFTs that have real utilities in the RavenDex ecosystem, unlike many other projects.
Staking the NFTs is one of the highlighted features of this NFT project. Tokenholders can stake RAVE and NFTs to endorse projects launching through their initial DEX offering (IDO). They can also list and swap their assets on other marketplaces.
Stakers will win RAVE tokens periodically
How does one earn free RAVE?
Investors of Rave NFTs shall at least hold 30,000 RAVE in the same wallet and must stake at least $50 of ADA in Ravep, RavenDex’s initial take pool offering pool. More than $9 million in ADA has been staked in the pool, and more contributors/investors are expected.
This is how RavenDex is generating utility and value for its NFT project. Investors can stake their NFTs for the following periods:
- Two months
- Four months
- Six months
- Or one year.
Investors can earn up to 60% APY depending upon the amount of RAVE tokens they hold in their wallets.
RavenDex is also working on an NFT gamification strategy motivated by poker and slot machines, giving Rave NFT and tokenholders more places to stake their NFTs for opportunities to earn greater rewards.
The company has onboarded more experienced Haskell and Plutus programming language engineers that can rush the platform’s DEX development to guarantee that it ships on the mainnet as quickly as possible.
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Website:Â https://ravendex.io
