Add REVU-ADA pair to Yield Farming

As most of you already know, Revuto is a subscription management dApp built on the Cardano blockchain that helps people to save money on their subscriptions, and at the same time earn cashback in REVU tokens.

In May 2021 Revuto raised $10M in few minutes during the first ICO in history on the Cardano blockchain and received over 3 million early sign-ups for the app. With over 350k registered users worldwide Revuto was named the fastest growing fintech startup in the world. As a result, Revuto won the award for the fastest-growing consumer product at the recent World Blockchain Summit in Dubai.

At the moment, Revuto is preparing to launch subscription manager with Virtual Debit Cards that will allow users to manage and pay for their subscriptions with Cardano native tokens. Issuing Physical Debit Cards will come during a later phase. Revuto is also working on a Fiat-to-Crypto exchange within the Revuto app, and later in the year Revuto will introduce DeFi services within the Revuto mobile app.

In that regard, one of the most significant features will be the launch of liquidity pools for micro-lending and borrowing. The setup will allow Revuto users to provide liquidity to other Revuto users and to earn yield. In contrast, others will be allowed to borrow funds from those pools to pay for their subscriptions even if they don’t have the funds to do so. Thanks to our CTO Marko Rukonic, an awarded AI expert with almost 30 patent, Revuto will be the first in the world to introduce UNCOLLATERALIZED micro-loans, a feature never seen in the crypto space before.

Revuto also launched R Fund, with initial allocation of $2 million dollars for supporting new projects on Cardano. Revuto users will soon be able to stake ADA and REVU tokens in R Fund staking pools to earn yield and to participate in the initial distribution of supply for new Cardano tokens.

The company is dedicated to providing a mobile first, superior consumer experience making DeFi simple and intuitive for everyone. Revuto has already developed and released the first native Cardano mobile wallet which has been created over 50k times until today.

We already launched Revuto Staking Center within the Revuto app where you can earn Cardano-native tokens by staking REVU, and we will soon launch the first ISPO model where Revuto users will be able to stake REVU in the Revuto Staking Center within the Revuto app, and rewards will be distributed as a part of the initial distribution of GENS tokens.

Most importantly, the ecosystem and tokenomics are designed around a real-world use case that allows Revuto’s cutting-edge blockchain product to grow and capture market share, despite seasonal changes in the crypto sentiment.

We have been supporting other Cardano DeFi projects since day one, and since we contribute to whole Cardano ecosystem, we believe liquidity pool for ADA-REVU pair should be added to current farms on the Minswap DEX. Revuto (REVU) is already listed on Kucoin, Gate io, BitMart, and other decentralized exchanges on Cardano so this would be a great way to incentivize our community to provide liquidity and to use Minswap DEX.

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I think the project deserves to get some attention from the whole Cardano Community. Definitely upvoting this post

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The 7 day trading volume is 15.1k ADA. I think rewarding this low volume (and fees) with MIN rewards is indefensibly expensive for the protocol.

My 2 cents.

Edit: while I agree that projects need to be supported across the board, rewarding the speculative LP that such an incentive would generate would not only create an unhealthy LP dynamic with the associated price action but would also short-change LP investors who are “competing” for the same reward tokens on pools that naturally generate a healthy trading volume.

Until a natural increase in trading volume sets in I cannot in good conscience support this proposal.

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Thanks for the reply!

As mentioned in our post, REVU is already listed on Kucoin, Gate io, and BitMart, so majority of trading volume is on centralized exchanges where we have around $500,000 daily volume. Revuto is a huge fan and supporter of DeFi projects on Cardano, and we would like to educate our community how to use Minswap, and to better understand advantages of trading on decentralized exchages.

We believe yield farming would be a great way to incentivize our community to use Minswap.

Additionaly, we also have something to offer to the Minswap community in return. We can enable MIN token in our app where Minswap users will be abe to pay any subscription with MIN token. We will also soon launch fiat-to-crypto exchange within our app so buying MIN directly with fiat is one more thing we can provide to the Minswap community.

Working together always leads to success. We are all on the same side, and we believe Cardano family should stick together if we want to achive amazing things. No one can whistle a symphony. It takes a whole orchestra to play it.

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I’m only speaking for myself but I believe for the health of the protocol only the trading volume generated on Minswap should be considered.

How could you make the trading volume move from CEX to DEX?

I am not sure using a governance token for fiat settlements is an optimal use case either. What value does this generate for Minswap users?

I am playing devil’s advocate, so please don’t take this as dissing, I just want to understand what makes sense in the situation.

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With 3 million early sign-ups for the app, over 350k registered users worldwide and more than 50k Cardano wallets created within the Revuto app, we believe we have an impressive number of users we can educate on how and why to use decentralized exchanges.

Detailed beginners guides with an explanation of all the advantages would be nice for start to incentivize engagement of our community.

Regarding current trading volume on Minswap, I personally consider its unfair to compare projects that already participate in yield farming from day one with projects like Revuto that still did not get this opportunity to prove themselves.

What value does fiat-to-crypto exchange generate for Minswap users? Among other things, it provides an opportunity for those users who are not using decentralized exchanges, to invest in MIN through a simple UI and one-click action.

Is it really necessary to have an option to pay subscriptions with MIN token? Of course not, but would certainly be one interesting additional utility to earn cashback while paying your subscriptions with MIN token.

To conclude, we believe its important that all Cardano projects support each other.

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Is Revuto currently able to potentially provide additional REVU incentives in a REVU-ADA pool to offset the potential costs to the platform? This could be mutually beneficial and attract more liquidity to the pool.

You mean like additional rewards in REVU tokens?

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Yes, additional rewards in REVU tokens is what I am suggesting

Sure, this is something it can probably be done from our side.

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Another great indication of why min rewards cannot be tied solely to TVL or arbitrary point allocations, we need better and fairer calculus. But I have been redundant on this point elsewhere. Bottom line, I am all for rewarding Liquidity Providers of quality projects so long as the reward incentives themselves do not distort the genuine, natural, organic market interest that would arise in the case the YF rewards did not exist. Maybe this is a pipe dream, but there must be a way to mitigate it someway. Because, at the moment, reward allocations simply drive the TVL of each pool until all the APRs are basically the same. This is getting the cart before the horse.
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Revuto is certainly one of the few projects who has that onramp offramp to eu banks. So it is an important project to support… a fintech + crypto project.

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Well, adding new farming pairs is an entirely different conversation than just point rebalancing amongst current pairs. But your point is very well taken.

I’m interested in potentially adding REVU to yield farming, will probably have to have a community vote, as it will be reducing the rewards allocation to current farming pairs.

Right now, the trading interest in REVU on Minswap is very minimal considering current TVL and volume. Do we want to continue to artificially drive interest in tokens via yield farming, honestly like we did with CLAP? If so, that’s fine…the Cardano infrastructure is tiny and very new and needs some hype, probably. Adding REVU tokens from the Revuto team to the yield farming on top of some level of MIN is probably where we want to go with this, and that will be possible on Minswap in the near future.

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As mentioned in previous posts, REVU is already listed on Kucoin, Gate io, and BitMart, so majority of trading volume is on centralized exchanges where we have around $500,000 daily volume. Revuto is a huge fan and supporter of DeFi projects on Cardano, and we would like to educate our community how to use Minswap, and to better understand advantages of trading on decentralized exchages.

We believe adding ADA-REVU to yield farming would be a great way to incentivize our community to use Minswap.

With 3 million early sign-ups for the app, over 350k registered users worldwide and more than 50k Cardano wallets created within the Revuto app, we believe we have an impressive number of users we can educate on how and why to use decentralized exchanges like Minswap.