Cardano-based DEX project Ravendex has announced that its utility token $Rave will be listed on the Bitrue exchange on the 21st of March, 2022.
Ravendex is a non-custodial decentralized exchange platform that is built on the Cardano ecosystem. It is basically designed to leverage the Alonzo Hard Fork update on the Cardano Ecosystem to facilitate the creation of innovative and interactive Apps that would help boost the adoption of the Cardano ecosystem while also giving further utility to the Rave token which will increase the demand and subsequently the price.
Rave Token Spikes by 20%
According to the announcement, the project has been recording increased demand for the Ravendex’s utility token $Rave as it continues to prepare for listing on Bitrue Exchange and NFT staking release.
It appears that the listing announcement has triggered the interest of many into holding the token as the enthusiasts have been seeking to acquire the token after the project unveils plans for listing. As such, the token has recently surged by about 20%.
“Consequently, the announcement saw RAVE token price surging as users are looking to hold some Rave tokens before it lists on the new exchange which would further increase its reach and adoption,” the project noted in the announcement.
The announcement further revealed that the Rave token can already be traded on Centralized exchanges like Bitmart and also on decentralized protocols like Sundaeswap and Minswap. Ravendex’s roadmap revealed the project’s intentions to fully launch the complete feature of its Cardano DEX before the end of the third quarter of 2022. The roadmap entails the Rave Token Staking, NFT Staking, and LP Token Yield Farming. Here, there are different reward rates that would be determined by the amount of Rave assets holding.
Moreso, the project will allow users to stake the NFTs. Thus, holders can stake $RAVE NFTs to earn rewards and the rewards can be compounded when the user has Given Liquidity to the Rave/ADA pool on Sundaeswap.