Ravencoin and OpenDAO are officially joining forces, and we’ve already begun the process for creating a $RVN-backed stable coin! Free up capital for further investing, expenses, or whatever you’d like… all without selling your Ravencoin!
Beyond the revolutionary blockchain technology, Ravencoin is pioneering the cryptospace through hard work and long-term development guided by wisdom — we’re glad to be able to say we’re now working hard alongside them to bring added utility and an entire world of assets to DeFi.
-Sean Qian
OpenDAO Cofounder
How do you benefit from the partnership? Read more below to find out!
What is Ravencoin?
Ravencoin is a protocol based on a fork of the Bitcoin code which adds features specifically focused on allowing tokens to be issued on the Ravencoin blockchain. These tokens can have whatever properties the issuer of the token decides — so they can be limited in quantity, named and be issued as securities or as collectibles.
With Ravencoin, you can make your own security token within minutes and have it trade worldwide!
The protocol has a few other unique characteristics which are ‘must-know’:
- ASIC resistant — Uses the KAWPOW hashing algorithm to discourage the development of ASIC hardware
- Fair launch — Everyone has equal opportunity to mine or purchase RVN since day one.
- No pre-mine, no ICO, and no coins held for developer or founders rewards.
- Community Driven, and True Open Source
- Read more about Ravencoin’s approach here:
https://medium.com/@ravencoin/ravencoin-4683cd00f83c - And check out their main site here: https://ravencoin.org/
What is OpenDAO?
OpenDAO (OPEN) serves as a bridge for real-world assets to cross over into the growing DeFi infrastructure. The goal is to bring more value into the space by providing exposure to real estate, stocks, and more… all in a uniquely permissionless and seamless manner.
Currently, the protocol is developing a suite of ‘flagship stablecoins’ [EGLDO, OCEANO, DOGEO, and others are in development.] This will culminate in a new stable coin backed by the world around you: USDO — starting with Bitcoin, Ethereum, and other crypto assets as collateral, but steadily moving to include more off-chain assets and on-chain assets as 2021 progresses.
User Benefits: Mint an $RVN backed Stablecoin
The process for using RVN as collateral to mint a dollar-pegged stablecoin ($RAVENO) with OpenDAO is underway! But… what’s in it for the holders?
The real question…
If you’re a Ravencoin holder and you’re long on the project, but want to free up some capital, ‘double down’ on $RVN, or diversify your investments, the $RAVENO stable coin was created with you in mind. The RVN hodler community will soon be able to convert their RVN to the new stable coin, and from there, the sky’s the limit! Holders will be able to easily convert their stablecoin to $USDC (or similar) for deployment elsewhere or will be able to add their newly minted stable coins to a RAVENO/Stablecoin pool and receive both $RVN and $OPEN as rewards for being a liquidity provider! The process will be streamlined and made as intuitive as possible. And the result of all this?
More utility for holders and increased scarcity as a result of removing $RVN from circulation.
Audits by OpenZeppelin are now finished, so we expect this process to take only a couple more weeks to complete; you can be sure we will keep you updated!
MORE DEVELOPMENTS TO COME…
That it’s for now, but knowledge is power — be sure to check the links below for more info! If you’d like to hear more of these developments or see even more articles like this, be sure to show us that you’re here! Be heard and slap that ‘clap’ button a few times!
Ravencoin Main Links
Main Site: https://www.ravencoin.org
Ravencoin Meetup: https://www.ravencoinmeetup.org/
Medium: https://medium.com/@ravencoin
Facebook: https://www.facebook.com/groups/RavenCoinNest
Telegram: https://t.me/RavencoinDev
Bitcoin Talk: https://bitcointalk.org/index.php?topic=3238497
Reddit: https://www.reddit.com/r/Ravencoin/
Discord:https://discordapp.com/invite/jn6uhur
Twitter: https://twitter.com/Ravencoin
OpenDAO Main Links
Main Site: https://OpenDAO.io
Discord: https://discord.gg/5ZtVDbN2CP
White Paper: https://opendao.gitbook.io/whitepaper-v2/
Transparency Document: https://opendao.gitbook.io/transparency/
GitHub: https://github.com/opendao-protocols
Youtube: https://www.youtube.com/channel/UCv5O3ANjupSH_yJmdY4o59g
Twitter: https://twitter.com/opendaoprotocol
Telegram: https://t.me/opendao
Facebook: https://www.facebook.com/OpenDAOofficial
Reddit: https://www.reddit.com/r/OpenDAO/
