For those who haven’t heard of it, Raven is the world’s first Cardanoblockchain-based decentralized exchange that facilitates seamless asset and liquidity transfers between ADA and other Cardano tokens. This way RavenDex acts as a cross chain exchange that utilizes eUTXO model which is capable of sharing liquidity by splitting assets on the Cardano ecosystem.
What makes RavenDex different from all other projects by Cardano is the fact that users can earn interest on RavenDex by lending assets to a pool and even by borrowing, while their assets are collateralized. RavenDex paves the way to introduce the concept of asset lending and borrowing platform on Cardanoblockchain with the help of Alonzo Hard Fork.
Overview of Whitepaper
The whitepaper of Whitepaper serves as a detailed insight into the project and it shows RavenDex in a new light where it is a Uniswap protocol-based product customized for Cardanoblockchain through many unique modifications. Basically, RavenDex would allow participants of the blockchain to create a market by sharing liquidity with others and swap native tokens effortlessly. Swap will cost a fee in exchange for the quick service which is returned to liquidity providers.
RavenDex is going to be completely P2P where no middlemen are present to capitalize on participants’ transactions. Like other decentralized exchanges, RavenDex will be more independent, free from restrictions, and compatible with different types of Cardano-based tokens including its own utility token $RAVE. Several companies are preferring the Cardano network creating a demand for it in financial services that keeps growing.
