Occam the Monk strikes again! On his way through the mountain tops, the Monk had a chance encounter with Ravelin Finance, a project offering the first algorithmic token pegged to Cardano.
The protocol aims to offer the security of battle-tested, algorithmic stable token protocols for Cardano users and bring ADA fantastic new utility on the Milkomeda side chain.
As many readers may be aware, one of the driving forces of the TVL metric on decentralised protocols is the ability for users to move their capital from ‘risk-on’ assets to ‘risk-off’, by means of stablecoins.
Ravelin finance’s algorithmic stablecoins will allow users on Cardano and Milkomeda to hold their capital in stable assets and earn farming rewards, until the users decide to open positions in more risky assets at their own discretion. This is a game changer for both Cardano and Milkomeda’s ecosystems.
The productive meeting resulted in the decision to host an exclusive pool on the OccamX DEX — currently the largest DEX by TVL on the Milkomeda platform. Users will be able to earn RAV, one of Ravelin’s available tokens, by staking in genesis pools, including by depositing multiOCC. What is more, OCC holders do not have to pay any deposit fees and can farm RAV for free. The permanent pools, which will begin after genesis, will reward users with RSHARE, Ravelin’s second token.
The pool will become available on April 28th at 9:00 PM UTC.
At the time of writing, OccamX farms are offering some of the most impressive liquidity mining APY percentages available in the space. OccamX will continue to grow and form partnerships with promising projects such as Ravelin Finance, providing more LP opportunities for our DEX users.
The RAV token is designed to be used as a medium of exchange, the built-in stability mechanism in the protocol aims to maintain the RAV tokens’s peg to 1 milkADA token perpetually.
Ravelin (RAV): 0x9B7c74Aa737FE278795fAB2Ad62dEFDbBAedFBCA
Ravelin Shares (RSHARE) are one of the ways to measure the value of the RAV Protocol, and shareholder trust in its ability to maintain RAV close to its mADA peg. RSHARE tokens also act as the governance method of Ravelin Finance, and holders may vote on improvement proposals to the Ravelin Finance protocol using their staked tokens.
Ravelin Share (RSHARE): 0xD81E377E9cd5093CE752366758207Fc61317fC70
With the above addresses, users can use OccamX to swap and combine the tokens with mADA to create an LP.
Stay tuned as the pool will soon be open on OccamX and ready for users to provide liquidity and start earning rewards!
Learn more about Ravelin Finance:
Gitbook FAQ: https://ravelin-finance.gitbook.io/ravelin-finance/
Twitter: https://twitter.com/RavelinFinance
Telegram: https://t.me/ravelinfinance
Website: https://www.ravelin.finance/
