Revuto has raised $1.7 million in venture capital funding in a round led by BlackDragon VC. The first official public token sale will take place as soon as the timer is up on Revuto’s official website.
The first dApp to be built on Cardano, Revuto is the blockchain service that manages all of the other services you are subscribed to. For too long, we have allowed the sheer amount of subscription services overwhelm our short attention spans and our wallets. Revuto allows users to take control over what they are paying for as well as how they pay for it.
With a built-in Revuto virtual debit card that connects to subscription services, users will have the option to pay with Cardano-native tokens. Users will also be rewarded for staking and micro lending.
The REVU Token
The native REVU token is held or staked by users to increase rewards within the native Revuto wallet. In order to incentivize staking and holding, Revuto will use up to 40% of the revenue generated from the transaction, staking, and swapping fees for REVU token buybacks. Eventually the REVU token will become a governance token that allows holders to propose and vote on the future of Revuto.
Microlending is another feature that allows users within the Revuto ecosystem to increase their financial flexibility, allowing short-term lending and borrowing of stablecoins or REVU. The token will be used to align the interests of users and Revuto, not only allowing those who are new to the crypto space to dip their toes into a blockchain technology that will immediately improve their lives, but also integrating crypto natives who are curious about the abilities of a platform built on top of the Cardano blockchain.
For those interested in buying REVU, let’s take a look at the tokenomics:
The first public sale, which is currently underway, is part one of two Early Bird sales which will make up 11% of all tokens issued. The Revuto protocol will hold 53% of all supply with the development team and advisors holding another 15% percent of the supply. Through private fundraising and VC investments, 6% of the supply has been distributed, and the last 15% percent of the supply will be made available through community sales. The total supply of REVU has a hard cap of 280,125,000 in circulation.
Big Plans Post-Launch
To generate more hype around the T1 early bird sale, Revuto is sending a special NFT as proof to users that they participated in the first token sale on the Cardano network. It’s nice gesture for the day one supporters, as there is still plenty of work to complete by the end of Q3 2021: applying for a crypto to fiat exchange license, enabling ADA/REVU liquidity and swapping, integrating with payment processors, and making the app available for iOS and Android users.
The first token sale that allows users to become part of the subscription economy future is merely the beginning of Revuto’s roadmap. By Q3, the Revuto dApp will be powering a more efficient way to pay repeat bills, all administered with crypto.