Ravendex Follow Feb 7
· 8 min read Here is a recap of our AMA on SatoshiStreetBets Telegram Channel
2AM Thoughts,
@RavensLabs Welcome!
Ravers Nest,
Hello Guys!
SSB Marketing,
Hey hey
2AM Thoughts,
Helloo
Ravers Nest,
It’s really Nice being In Your Community
SSB Marketing,
Excited to have you guys here to learn more about your project
SSB Marketing,
Can u start by telling us what makes your Dex different then all these other Dex’s ?
Ravers Nest,
[In reply to SSB Marketing]
Yeah, We are ready
SSB Marketing,
@CIO_RAVENDEX added
Ravers Nest,
[In reply to SSB Marketing]
When launched our project will be Unique from other DEXes because we are working on becoming the first Fully Interconnected Defi Ecosystem On the cardano Blockchain
Our Project is 100% community Funded which makes it further decentralized
2AM Thoughts,
Could you tell us why Cardano? out of all the blockchains out there, why did you specifically choose Cardano?
Ravers Nest,
Our staking platform is unique too as Rave Holders can Choose a Staking Pool and Stake Their Rave and earn rewards without Their tokens ever leaving their wallet.
This is one of the first on the cardano ecosystem
SSB Marketing,
Why did you guys choose cardano ?
Ravers Nest,
[In reply to 2AM Thoughts]
Great, Question
Ravers Nest,
@@CIO_RAVENDEX Would You Explain Why We Decided to Build on Cardano?
CIO Ravendex,]
[In reply to Ravers Nest]
Yes sure 😁
CIO Ravendex,
We decided to build on cardano for a whole number of reasons.
The lack of fully functional Dexes and the low fees of the Cardano Blockchain were a huge deciding factor is us choosing to build on Cardano.
CIO Ravendex,
And Also bear in mind that Cardano is a 3rd Generation POS blockchain based on ouroboros consensus protocol
2AM Thoughts,
[In reply to CIO Ravendex]
It is indeed one of the most evolved blockchains, and has a lot of users.
2AM Thoughts,
[In reply to Ravers Nest]
How does your staking work? Usually when I stake, I must deposit my tokens into the pool, in order to earn rewards, I’m very curious.
Ravers Nest,
[In reply to 2AM Thoughts]
Yes, and Growing By The Day
Ravers Nest,
[In reply to 2AM Thoughts]
It’s actually Quite The opposite, When launched, our Staking Platform will be quite different from what is existing right now.
You Can Create A Vault
Add & Verify The Address that Contains Rave that you would love to stake
Choose A Stake pool, With It’s Own APR and Then Stake.
Your Rewards Would Be accumulated Every Epoch
You can do all these without your Rave Token Ever Leaving your Wallet
CIO Ravendex,
[In reply to Ravers Nest]
It’s functions in a way similar to WMT’s Staking Vault
2AM Thoughts,
[In reply to Ravers Nest]
oh wow, thats actually so cool and unique, I’ve never seen such staking system before, and to be the first, that always put you in big advantage.
2AM Thoughts,
with that being said, could you tell us a little bit more about you and the team behind this project? and when did it start?
Ravers Nest,
[In reply to 2AM Thoughts]
The Project Started Late Last year with a mission to develop an AMM Based Dex on cardano.
Our team is still undoxxed for now and plan to remain that way untill we launch a working product.
Read our First Medium Post Introducing Our project
2AM Thoughts,
[In reply to Ravers Nest]
Honest opinion, being undoxxed helps your case, because you’re building a decentralized exchange.
Ravers Nest,
[In reply to 2AM Thoughts]
Yes we are aware..
But Our Product is what really matters?
Long as it’s Secure and Audited yes?
2AM Thoughts,
Are you audited? if so, could you tell us by whom
Ravers Nest,
[In reply to 2AM Thoughts]
We will be auditing our codes before launching on the mainnet.
2AM Thoughts,
[In reply to Ravers Nest]
indeed, I 100% agree on that
Ravers Nest,
On A Quick Note,
Ravendex team is comprised of a multicultural team of cryptocurrency, branding, and computer programming experts hailing from around the world.
With over 20+ years of combined cryptocurrency, development and finance experience, Ravendex is delivering an entirely new take on decentralized finance
SSB Marketing,
What does your roadmap look like?
SSB Marketing,
And how do you guys feel about your progress to date ?
Ravers Nest,
You Can find our Updated Project Roadmap Below with the Milestones and Status
https://docs.ravendex.io/roadmap
2AM Thoughts,
[In reply to Ravers Nest]
Any ETA on the release of the staking?
Ravers Nest,
[In reply to SSB Marketing]
We have made huge progress.
We have been able to build a solid and vibrant community who believe in the project
Our project utility token is already trading on bitmart with a MC of over 5 Million
SSB Marketing,
What about your marketing plans?
SSB Marketing,
What have you guys done for marketing ?
SSB Marketing,
Are you guys up to anything néw or innovative ?
Ravers Nest,
[In reply to 2AM Thoughts]
We intend on launching the Staking Incentivised Testnet in the next coming days
Ravers Nest,
[In reply to SSB Marketing]
We are ramping up our marketing in the Days Leading Up To our testnet launch to create more awareness towards our project
Ravers Nest,
[In reply to SSB Marketing]
Yes!
we are also Developing a fully Cardano native IDO launchpad
2AM Thoughts,
So from my understanding, you guys are only available for purchasing on bitmart, and I know that cardano does have a dex called sundaeswap, not sure about it’s quality, but do you guys plan on adding liquidity to Sundae’s decentralized exchange? Or you want to go live on your own dex first?
Ravers Nest,
[In reply to 2AM Thoughts]
I Think it’s Up to the Ravendex Community To Decide.
We would create an Internal Poll For The Community To Vote
You Can find our telegram Community below.
2AM Thoughts,]
[In reply to Ravers Nest]
I really do admire a true community driven token, you must have a really cool community.
SSB Marketing,
[In reply to Ravers Nest]
Can you go into any more detail on this ?
Ravers Nest,
[In reply to SSB Marketing]
We would shed more light on it in due time.
Startups looking to build on cardano can create a proposal on our IDO PAD, And If Approved by The Community By A Vote (Eligible to only $Rave Stakers)
The Project can now launch it’s IDO Fundraise through our platform
Ravers Nest,
[In reply to Ravers Nest]
We would be making a more detailed post about this in the coming days
2AM Thoughts,
[In reply to Ravers Nest]
interesting….Could you tell us about your long-term vision of the project? and where do you see Raven 1 year from now?
Ravers Nest,
[In reply to 2AM Thoughts]
We see Ravendex as one of the Top DEXES on cardano by TVL and our token being on Top 100 Altcoins on Coinmarketcap & Coingecko
CIO Ravendex,
[In reply to Ravers Nest]
Good things take time 🙂
2AM Thoughts,
[In reply to CIO Ravendex]
I second that, haha.
2AM Thoughts,
I do also believe that once you are listed on a decentralized exchange, your market cap will see a significant raise, as many people including myself, can not really trade on a CEX such as bitmart because of the restrictions, and so we prefer to remain on DeFi
2AM Thoughts,
You mentioned that you wanted to get a security audit, could you tell us about the auditors that you or your community have in mind?
Ravers Nest,
[In reply to 2AM Thoughts]
Yes, we are very Much Aware.
Ravers Nest,
[In reply to 2AM Thoughts]
As cardano’s way of programming contracts are quite different from EVM Blockchain, so does the auditors.
We would be employing the services of cardano top shot Auditors like Runtime verification to go through our codes before we go live
SSB Marketing,
Wen are u planning on going live ?
Ravers Nest,]
[In reply to SSB Marketing]
We don’t want to give a definite date yet, but we will be launching before the end of Q1 2022
SSB Marketing,
Got it !
2AM Thoughts,
[In reply to Ravers Nest]
[ 😆 Sticker ]
Ravers Nest,
We at Ravendex believe that by pioneering use-case level protocols on Cardano, we have the ability to change the trajectory of global finance.
Whether it’s our work on the Automated Market Maker protocol, or Vesting, ICO, and Launchpad functionalities, Ravendex will be leading the pack in open-source decentralized exchanges, with plans to expand use-case scenarios every single month!
2AM Thoughts,
Ohh, I do have a question about your market maker that you’re developing
Ravers Nest,
[In reply to 2AM Thoughts]
Shoot
2AM Thoughts,]
[In reply to Ravers Nest]
I’m not really a tech guy, but I do understand that there’s a big problem with the current market makers on dexes like pancakeswap or uni swap, where part of the liquidity is undrainable, even if you sell 100% of the tokens on the exchange, there’ll always be 10k and up to 150k that can not be taken out unless you remove the liquidity completely
2AM Thoughts,
Will you have your own code for the match maker? or you’ll be using similar forked codes from uniswap/pcs..etc.
Ravers Nest,
[In reply to 2AM Thoughts]
Yes, It won’t be a problem on cardano as cardano operates using the Unique EUTXO Model
Ravendex will use the EUTXO accounting model known for it’s unique functionality, like the ability to have shared liquidity be split among different assets on the Cardano network.
We are also one of the very first projects on Cardano to conceive the idea of a crypto asset lending and borrowing using the recently released Alonzo Hard Fork update which allows smart contracts to deposit assets and collect interests using a pre-defined set of rules.
With Ravendex, liquidity providers (LPs) can pick the pools that is most optimal for a given pair, yielding the highest returns/most capital efficient, by using various pricing algorithms for a single liquidity pool.At first glance, this appears to result in liquidity fragmentation.
However, because that pool is the most traded against, LPs will automatically direct their money to the most efficient pool for a given pair.
Yearn Finance, for example, has developed an automated yield farming method that will assist LPs in re-balancing their money into the most efficient pools.
This is the same as having several AMM protocols with various pricing functions, but because all pools are on the same platform, transferring liquidity between pools and trading will be faster and cheaper.
Ravers Nest,
[In reply to 2AM Thoughts]
We would be developing our own codes as uniswap & Pancakeswap codes are EVM/Solidity, thus not compatible with Cardano at the moment.
SSB Marketing,
Is there anything else u want to leave us with before we wrap this up ?
2AM Thoughts,
[In reply to Ravers Nest]
That’s very interesting, thank you so much for coming here and bringing such unique project to the SSB community, I’m sure apes will ape once you go live on mainnet,
I’ve already had several people texting me throughout the day on how to purchase your token without having to go on a centralized exchange.
Ravers Nest,
[In reply to SSB Marketing]
Our key differentiator is not only in security, and value, but Ravendex plans to be the market leader in fee-less custodian-less blockchain transactions.
As we witness the birth of smart contracts within the ecosystem, our team works steadily to lead the community to a brighter decentralized future by open-sourcing all of our technologies via GitHub when we are done with development.
Ravers Nest,
[In reply to 2AM Thoughts]
We would have to decide on a community vote about that
SSB Marketing,
Thanks so much for joining us
SSB Marketing,
We really appreciate the information and look forward to following this project
Find out more information about Ravendex below.
Twitter: https://twitter.com/Ravendexlabs
Telegram: https://t.me/RaversNest
Github: https://github.com/Ravendexlabs
Resources: https://docs.ravendex.io/.