Friday, June 9, 2023

Revuto Launches Eight Staking Pools


A blockchain firm called Revuto is launching eight private staking pools.

For the first time in the Cardano ecosystem, Cardano users will be able to participate in ISPO on highly competitive terms. To participate in the initial supply allocation, users must stake the new Cardano native token, REVU.

Revuto’s Growing Success

Revuto will use Cardano to expose the project to people who are already familiar with the network, and vice versa. In particular, it verified the new connections as it made alliances with Cardano developers.

Revuto has had a fantastic start to the year 2022. The startup began the year by partnering with some of Cardano’s most intriguing initiatives. As a result, they’re putting their tokens into farming pools at the Revuto Staking Center for staking. Revuto officially announced their relationship with DJED, Cardano’s algorithmic stablecoin issuer, COTI, just this week.

Meanwhile, Revuto, a Cardano-based subscription management dApp that helps users save money on their subscriptions, is operating. It raised $10 million in an initial coin offering (ICO) in just 60 seconds in 2021. The app got 3 million early sign-ups since then.

Revuto has over 350k active users and has built over 60,000 Cardano wallets. At the World Blockchain Summit in Dubai, it was named the fastest-growing consumer app. It will almost certainly maintain its current position via the new staking pools.

In the guise of various Cardano native tokens, these Revuto pools provide unique benefits and competitive yields. In February, it opened the REVU staking pools in the Revuto Staking Center. The company then launched the SundaeSwap and VyFinance farming pools, which allowed users to stake REVU to farm VYFI and SUNDAE tokens.

The hard cap filled in the first few days due to the enormous demand for REVU. Currently, the app’s staking pools have over half of the circulating supply locked up.

More Beneficial for Users

Revuto is always exploring for new ways to provide additional value to REVU members. Due to its recent association with Genius Yield, it will surely become a hot topic in the Cardano community once more. The first ISPO of its kind now offers users a one-of-a-kind opportunity to earn GENS tokens.

Users will be able to earn GENS tokens by staking REVU tokens in the Revuto APP. Rewards will distribute as part of the initial distribution of GENS tokens. The most important change is that the Revuto Staking Center’s Genius Yield ISPO incentives will increase. It means they’ll be significantly more expensive than standard Genius Yield ISPO prizes.

The GENS rewards that were gathered through the Revuto Staking Center will give after the 90-day staking period has passed. Meanwhile, those that delegate ADA in the regular ISPO will have to wait 6-12 months for GENS tokens to distribute following the Genius Yield TGE.

Aiming to be the Best

To deal with subscription seasonality, the company is ready to launch its Virtual Debit Cards. Cardano native tokens will also accept as payment for subscriptions.

Later this year, Revuto will provide a Fiat-to-Crypto exchange via the Revuto app and DeFi services. As a result, consumers will pay a cheaper price for subscriptions than FIAT. The construction of liquidity pools for micro-lending and borrowing will be one of the most significant breakthroughs in this regard.

Customers will be able to receive uncollateralized micro-loans in crypto. They will use them to cover membership costs, which will be a first in the crypto business. The setup is developed by Revuto CTO Marko Rukonic, an AI expert with nearly 30 peer-reviewed patents. Users of Revuto will be able to earn yield by providing liquidity to other Revuto users.

Others, on the other hand, will be able to borrow money from such pools in order to pay for their subscriptions. This is true even if they lack the requisite finances. More importantly, the ecosystem and tokenomics are based on a practical application. This enables Revuto’s cutting-edge blockchain technology to remain lucrative regardless of the state of the cryptocurrency market.

Ivan Cruz
Ivan Cruz
Ivan Cruz is a writer for Cryptoconstellation. He has his Masters in Applied Research in Economics & Business. Ivan has been trading crypto for the past 7 years himself and feels it is his duty to bring you all the latest news.

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