A Promise to the Spartan Community from the Raven Community ❤️
Earlier this year, Raven had the opportunity to collaborate with Spartan Protocol — a protocol for incentivised liquidity and synthetic assets on Binance Smart Chain.
It’s always exciting when communities across different projects and ecosystems work together to push innovation for the entire blockchain industry. This is not a zero-sum game as many incorrectly assume.
The Binance Smart Chain, Spartan Protocol, and Raven Protocol teams worked incredibly hard together to bootstrap an AMM built from the ground up on BSC Mainnet. This was done by a new fair launch distribution mechanism invented by Spartan Protocol. Community members from different Binance Chain projects signaled their commitment to become users of Spartan Protocol by burning the project tokens they already hold.
The Raven community chose to give their commitment to the Spartan community by burning 1.5B RAVEN tokens and reducing it from the circulating supply. That was $1.5M at the time.
It was really the mother of all burns! Spartan Protocol then rewarded 5,000,000 SPARTA to the entire Raven community which was $1.5M at the time. Thank you so much to the Spartan community for their generosity
This was a very interesting and important experiment because it gave Raven holders significantly more liquidity and this trickled down through every Binance Chain project. The BSC migration was a rising tide that lifted all boats. It was not a zero-sum game.
What’s the Promise to the Spartan Community?
Spartan Protocol has done so much to help drive the adoption of Binance Smart Chain. Their community and their developers were literally handholding projects through migration and step-by-step deployment of their project’s token to BSC Mainnet. We even caught one of the Spartan admins red-handed helping community members troubleshoot Metamask support issues in the Raven telegram. That’s some crazy dedication to Spartan Protocol, the Raven distribution framework, and adoption of BSC.
Now it’s time to roll up our sleeves to help Spartan Protocol and drive adoption alongside the entire Binance Smart Chain community.
Spartan’s latest initiative is the launch of their DAO. They are really pushing the boundaries of building and operating a Decentralized Autonomous Organization. It’s not an easy feat. It should be taken very slowly and very seriously. Each vote and each proposal has an impact on the future of every BSC project. We all need to carefully weigh the decisions and exercise your right to vote with utmost precision. In this case, it may not be a bad idea to follow strong examples of corporate governance where decisions are made with a long term view in mind that would benefit both token holders and the project itself.
Through the burn distribution, the Raven community became one of the largest holders of Sparta (5M Sparta out of ~50M circulating supply). The fact that the Raven community owns such a large portion of the DAO vote should not be taken lightly.
Our promise to the Spartan Community is that our vote and how we practice governance will always be geared towards what is best for building a world-class blockchain on BSC, a world-class Liquidity Pool with AMM / Synthetic Assets, and a world-class decentralized compute protocol for AI/ML training. In that order :)
— The Raven Community
We are making this promise because our interest is in helping further-align strong communities and create a stronger and better-acting base of weight in the DAO (and community).
Why is the Raven Community interested in DAO governance?
A strong base weight for the DAO is critical. We have seen too many farms get taken over by whales to vote in short term incentives. Things like increasing APY to 200,000% or putting golden hand-cuffs on key developers benefit themselves only and are largely driven by profits.
Every change and improvement in the DAO has a direct impact on the Raven Protocol community. We are here for the long term. We are working in the decentralized compute category and will be a critical infrastructure layer in the decentralized world.
Currently, the RAVEN/SPARTA pool provides the largest liquidity pool for our AI and Machine Learning customers to purchase RAVEN to utilize services on our network. It’s faster and cheaper than using the Ethereum network :)
The product built by Spartan Protocol on Binance Smart Chain has product-market fit. It is something the Raven Community should not live without and we vow to participate in DAO governance with a strong view on the long term success of Spartan Protocol.
We will have an open ear and an open heart when you face challenges. We will support you until the very end and we hope the project never reaches an end!
Why you should vote YES to list RAVEN as a bond asset on Spartan Protocol
- Raven is pulling the power of AI/ML out of the hands of large corporations and putting it into the hands of the community. We’re decentralizing and democratizing AI/ML which has never been done before!
- Fully Open Sourced project and our code is on Github: https://github.com/ravenprotocol/raven-distribution-framework
- World’s first IDO on Binance DEX. One year before Uniswap and Defi Degen became a thing :)
- Grant Funding from Mozilla Builders and Award Winner at the Fix-the-Internet Showcase
- Raven Protocol is one of few projects in the world fully committed to Binance Smart Chain. The total supply of RAVEN lives on the Binance Ecosystem (Binance Smart Chain, Binance Chain, Binance DEX, Spartan Protocol). Over 1.4M transactions have occurred across 18,000+ token holders. That kind of reach is no small feat for a Binance Chain project!
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