Blockchain startup Revuto announced plans to open eight exclusive staking pools on the Cardano-only ISPO model, allowing users to stake $REVU tokens and earn Cardano-based tokens in return. Announced Thursday, the Revuto staking pools offer the most competitive yields on Cardano and offer users an opportunity to participate in the initial distribution of tokens for new Cardano-native tokens. The staking pools launch follows a successful nine-month period for the Revuto app, which included building the first mobile-native crypto wallet on Cardano, listing on top centralized crypto exchanges, and sublime growth rates in user acquisition.
Speaking on the latest launch of the Revuto staking pools, Revuto’s CEO and co-founder Vedran Vukman said,
With Revuto Staking pools, we are now the first available staking pools to offer staking and rewards in Cardano Native Tokens. This is a huge milestone for the entire Cardano community of builders and supporters.”
The staking polls will also ensure that users and investors in Revuto will earn competitive rewards, given the team selected “most promising projects along with exclusive deals,” Vukman added. Revuto plans to build partnerships and synergies across the Cardano ecosystem across the year with an aim to partner with the best projects and give their users opportunities to grab the best Cardano-native tokens early. To this end, the team launched farming pools in the Revuto Staking Center, with a partnership with COTI, the issuer of Cardano’s algorithmic stablecoin, DJED, already sealed.
Notwithstanding, in February, Revuto also welcomed the VyFinance and SundaeSwap farming pools to the staking centre. This allows users and investors to earn $SUNDAE and $VYFI tokens as rewards for staking $REVU tokens. At the time, the demand for the farming pools was so impressive that the two farms reached their hard cap limit within a few days, before the end of the subscription period. The staking pools have since witnessed even more demand from investors, with Revuto already locked in more than 24 million $REVU tokens, which is almost 50% of the $REVU circulating supply.
Leveraging $REVU staking to earn Cardano native tokens
The overall reception of the staking pools has welcomed new users and innovation to Cardano, as a new smart contract platform. Nonetheless, the Revuto team plans to continue to innovate the space to provide additional capabilities and benefits for $REVU holders. The latest partnership with Genius Yield is the first-of-its-kind ISPO on Cardano, a fundraising mechanism that allows delegators of a Proof-of-Stake (PoS) network to divert staking rewards towards a project of their choice and get project tokens in return.
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Users will be able to stake $REVU tokens and earn $GENS tokens. These rewards will be distributed as a part of the initial distribution of GENS tokens. Moreover, the rewards from the staking pool rewards centre will be boosted, guaranteeing users more rewards than the regular Genius Yield ISPO rewards. Distribution of the GENS rewards earned through the Revuto Staking Center will be after the end of the 90 day staking period, while users who delegate ADA in the standard ISPO will need to wait for the distribution of GENS tokens for 6-12 months after the Genius Yield TGE.
Users on the platform will also access the staking pools and the reward centre straight from their mobile phone if they have downloaded the Revuto app from App Store, Google Play, and the Huawei App Gallery.
What holds in the future for Revuto app users & token holders?
Following a successful opening two months for the $REVU staking pools, Revuto is planning for more developments across the year to increase the possibilities for its users. According to their statement, the company is preparing to launch its Virtual Debit Cards to manage subscription seasonality and allow users to pay for their subscriptions with Cardano native tokens.
Additionally, Revuto will also launch its fiat-to-crypto exchange within the Revuto app and boost DeFi capabilities in a bid to enable users to pay for their subscriptions for less than they would pay for them with FIAT money. One of the DeFi capabilities will be the micro-borrowing facility that will allow users to get uncollateralized micro-loans in crypto and use them to cover their subscription payments. This will not only help users get micro-loans but will also allow other Revuto users to provide liquidity to other Revuto users and earn yield.