Ravendex platform, a fully decentralized exchange built on the Cardano network, has announced the release of its DEX with a proposed private token sale. Notably, Ravendex has planned for five $Rave token sales. Whereby the first phase of the $Rave token sale was scheduled to kickstart on October 5, 2021.
According to the team behind Ravendex, the newly launched decentralized exchange will enable users to swap and trade native Cardano tokens in a trustless manner. Moreover, the Rave DEX is a cross-chain DeFi that operates using the EUTXO model. Notably, the EUTXO model is well known for its unique features like the ability to have shared liquidity be split among different assets on The Cardano Ecosystem.
In the $Rave private sale, the platform has set aside 100 million tokens for sale. The price for each token has been set at 0.00225 ADA. The firm set a minimum purchase of 500 ADA and a maximum purchase of 5000 ADA.
$Rave token has a supply of 1 billion. Out of which 50% has been allocated for the public sale, 12% to the team, 35% for staking and yield governance, and 3% locked ecosystem reserve.
According to the company’s roadmap of Rave token sale rounds, 200,000,000 million tokens have been allocated for the seed sale. 100,000,000 million $Rave tokens have been set aside for the pre-sale, while another similar amount has been set aside for the public sale.
The price set for the public sale is 0.0027 ADA, which is slightly higher than the private sale. Early investors will have a chance to acquire a stake in a Cardano-based project. Moreover, they can earn passively through staking.
Notably, the Raven platform has lined up a tone of activities in the next few quarters to have its ecosystem jammed with activities. Besides earning through token appreciation, the team behind Raven has described the advantages of holding $Rave tokens.
“The Rave platform will produce a variety of fees, which will be dispersed to token holders. In addition, we are constructing a Decentralized Autonomous Organization (DAO). This is not feasible in the absence of a decentralized governance token,” the team noted.