RAVENCOIN — A project and tokenomics overview
Yesterday we saw yet another new listing on WOO X, Ravencoin (RVN) became the 106th asset to be made available for spot trading and it was also launched for Futures at the same time, becoming the 66th asset available for perps.
This post is intended to give a brief overview of the token to help anyone with their research. First a few links
- Project Raven 🦅/ RVN / Ravencoin (@Ravencoin) / Twitter
- Home | Ravencoin
- Whitepaper | Ravencoin
- Discord
- Solus Ravencoin Explorer — Assets Overview (cryptoscope.io)
Most of the information below is taken from the above links and white paper but hopefully summarises some key of the key points for those that find whitepapers are in the “TLDR” category!
Ravencoin was launched in 2018 and is originally a fork of the Bitcoin blockchain but with a different maximum supply. RVN has a x1000 maximum supply of 21bn and there are currently 11.66bn in circulation. From a tokenomics point of view this does obviously mean that in theory the supply will double, diluting any holding in the process but because there was no pre-mine or ICO there are no “unlocks” to come. The only increase in supply is through mining rewards so it is predictable. The token history shows that circulating supply has increased approximately 2bn in the last 12 months but, like BTC, the yearly increase in supply will slow as the years go by. RVN is also burned during the launch of new assets, with 17m having been burned to date.
A new and different mining algorithm was developed to avoid centralised ASIC mining and the algorithm was enhanced further at a later stage.
The main and fundamental difference between BTC and RVN is that RVN has been developed to support the issuance of other tokens on the RVN blockchain in a similar way to that tokens can be created on Ethereum. RVN refer to this as being an “asset aware protocol”. Tokens can be issued in a matter of minutes and transferred and tracked in the usual manner.
Like BTC, RVN does not have any central authority, it is an entirely community driven project using a tokenized voting system, this therefore makes it independent of any regulatory jurisdiction
Since launch, tens of thousands of assets have been minted on the Ravencoin blockchain, including NFT’s and it is clear that it is a well-established protocol but perhaps one that has flown a little under the radar. There are just over 25m addresses on the RVN blockchain and there are currently around 0.1 TX’s per second showing in the block explorer.
At the time of writing RVN is ranked 60th on coingecko with a token price of USD 0.072 and a market cap of USD 833.4m
We hope this gives a useful brief overview of our latest listing and please refer to the links for the finer details.
