Raven Protocol joins hands with Spartan Protocol
Burn $RAVEN to utilize it in the first major liquidity project in the Binance DeFi Ecosystem
Dear Raven Protocol Community,
Exciting news to end this first week of September! Raven is DeAI, but as the DeFi wave is powering full-steam ahead, we saw the most innovative ways for people to utilize their idle assets on Ethereum. We also saw how slow and expensive those transactions were. So when we found out that Binance Smart Chain gave you those same tools (but cheaper and faster), we had to dig in and see how valuable this was to the Raven community.
One such project that stood out was Spartan Protocol and we believe in their vision. They provide incentives to enable deep capital formation in liquidity pools, with safe and sustainable creation of synthetic assets. Spartan Protocol will be the first major liquidity project on Binance Smart Chain.
We are announcing that holders of $RAVEN, the Raven Protocol utility token, will be 1 of 30 projects eligible to burn for $SPARTA.
What and who is $SPARTA?
The SPARTA asset is used as the liquidity asset in pools, as well as the collateral asset to mint synthetic tokens. This ensures it is deeply liquid and can allow instant and safe liquidations of unsafe positions.
The distribution of SPARTA is quite unique in a process that is Fair, Timeless, Scarce, Sybil-resistant, and Value-preserving. Only such mechanism that allows this is via “Proof-of-Burn”.
To acquire SPARTA, members must burn BNB and BEP2 assets at a predetermined rate. Their old assets will be destroyed and SPARTA will be minted and sent to their address.
Only 100m SPARTA can be acquired this way. The remainder of 200m SPARTA will then be emitted programmatically by the protocol over the lifetime of the network, starting at 35% APY and reducing, for the purposes of incentivising liquidity.
For full disclosure: the team is a pseudo-anonymous group of developers who believe passionately in self-sovereignty. They are supported both by Binance (as shown in the tweet above), as well as the holders of tokens from 30 existing Binance Chain projects. Their code is also open-sourced on Github.
Why should $RAVEN holders burn for $SPARTA?
Spartan Protocol announced that Raven Protocol was one of 30 projects selected for Burning for Sparta. Here are the benefits of burning $RAVEN for $SPARTA:
- Reduced token circulating supply — when tokens are provably burnt, their value is absorbed by the remaining circulating token supply.
- Greater buying demand — $SPARTA acquirers have to first buy one of these project tokens to then burn for $SPARTA
- Increased liquidity — The Spartan Protocol DApp can provide liquidity pools between these tokens that enable fast, cheap & easy swapping
- Increased demand and utility — The above-mentioned liquidity pools also enable earning daily yield on your otherwise unproductive asset
- Community alliance — Building a bridge between all of these projects will provide an allied force with a combined vision for the future. This alliance can be leveraged for any and all projects benefit and growth.
Take note that this is a new protocol and one of the first working on DeFi via Binance Smart Chain. Spartan Protocol has allocated 5M SPARTA ($1,500,000 worth) with an expected snapshot of ~$0.001/RAVEN. At that rate, only 1.5B RAVEN is eligible for the burn. Terms may certainly be changed by Spartan Protocol as we approach the mother of all burns on 10th of September.
Raven Protocol: Q2 2019 Tech and Community Update:
https://medium.com/ravenprotocol/q2-2019-tech-and-community-update-4f836a9a1e97
Raven Protocol: Q3 2019 Tech project development Update:
https://medium.com/ravenprotocol/tldr-raven-stayed-heads-down-building-in-q3-2019-ae5f242dc15d
Raven Protocol: Q4 2019 Tech project development Update:
https://medium.com/ravenprotocol/happy-2020-an-important-update-from-the-raven-team-67b5e88e1b1d
Raven Protocol: Q1 2020 Tech project development Update:
https://medium.com/ravenprotocol/q1-2020-success-during-hard-times-3dcdbb0faba8
Raven Protocol: Q2 2020 Development and Community Update:
https://medium.com/ravenprotocol/q2-2020-the-raven-distribution-framework-solves-the-deep-learning-problem-that-mit-researchers-bc506816ab67
Raven Protocol Project Review:
https://cryptocalibur.com/portfolio-item/raven-protocol-review
Raven Protocol White Paper:
https://drive.google.com/file/d/1FAaVKkg_CjxMj-n1yHZc6ufcVDtOU1Ct/view?usp=sharing
OFFICIAL CHANNELS:
Official Email Address: founders@ravenprotocol.com
Official Website Link: http://www.RavenProtocol.com
Official Announcement Channel: https://t.me/raven_announcements
Official Telegram Group: https://t.me/ravenprotocol
Official Twitter: https://twitter.com/raven_protocol
Official Medium: https://medium.com/ravenprotocol
Official LinkedIn: https://linkedin.com/company/ravenprotocol
Official Github: https://www.github.com/ravenprotocol
Official #DeAI Discord: https://discord.gg/WF47ckd
