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The first multi-protocol decentralized financial (DeFi) platform on the fast-growing Cardano ecosystem, Ravendex, has announced the listing of $RAVE on the BitMart crypto exchange. Consequently, RAVE token users can find liquidity and trading services of the coin through the BitMart exchange.
Ravendex takes pride in the fact that it is the first non-custodial decentralized exchange that is built on the Cardano blockchain. Moreover, it is a useful channel that users can transfer assets and fetch liquidity between Cardano/based tokens and ADA.
Through the AMM protocol, projects that are built on the Cardano ecosystem can provide liquidity and in turn, earn passively as they provide fair trading.
Reportedly, the Cardano blockchain cross-chain exchange makes use of the EUTXO model. Notably, the EUTXO model that is mostly utilized by Cardano, extends the UTXO model, which is the predominant model for the Bitcoin network.
Interestingly, the Ravendex protocol is among the top projects that utilize the recently unveiled Alonzo Hard Fork update. Thereby enabling users to access smart contracts when making deposits, and ultimately collect interest.
While the competition among top blockchains in the crypto industry remains stiff, the Cardano ecosystem is robust and capable of pushing through the next few years.
“Ravendex aims to build a robust suite of Defi tailored services that would be powered by its utility token $Rave,” the company said in a press release.
Some of the notable features of the Ravendex ecosystem include cross-chain exchange and swap protocol. “Using Ravendex, users will be able to exchange and trade native Cardano tokens in a secure environment. The eUTXO architecture provides a unique opportunity for exchanges to pool liquidity on top of the Cardano ecosystem,” the company further noted.
Other features that users can expect to enjoy on the Ravendex include staking and yield farming. A major branch in the crypto industry that has attracted notable investors due to the sheer size of the growth prospects. Additionally, the Ravendex ecosystem will allow lending aspects and an ERC-20 / BEP-20 to Cardano converter.
Another notable feature is the non-fungible token (NFT) marketplace. With users able to set prices for their NFTs and sell them for RAVE tokens.
Notably, trading on the BitMart crypto exchange is set to begin on January 10, 2022. Currently, $Rave tokens can be traded in the p2pb2b, while price feeds can be checked on Binance-backed Coinmarketcap.