Token Swap is here — Partnership with DexHunter!

Slowly but steadily, with every new feature coming to our app in Q4 and with your support, Revuto is becoming a financial powerhouse in Cardano ecosystem. The first product feature we’ll release in the upcoming days (planned for next week) is the TOKEN SWAP within your Cardano (non-custodial) wallet.

The token swap is becoming a central feature of every crypto wallet because it allows users to quickly swap between supported tokens. In our case, being a mobile-only solution, the Token Swap is something we must offer to have under your hands.

A brief history

Those who have been with us since the ICO know how important that feature was for us. As soon as we released the first version of the Cardano wallet within the Revuto app, the team started working on the Token Swap feature. At the time, there were no DEXs on Cardano, so provoked by an amazingly successful fundraise and eager community, we decided to develop our own DEX, which would work on a mobile device.

Developing DEX was never our core feature, nor did we have it on our initial roadmap, but there it was, and we decided to go for it. The idea was to be fast and competitive with other projects whose sole purpose was to build the DEX. With time, and especially during 2022. we saw many projects competing for the same spot, having the best DEX on Cardano. For the DEX development, we hired an external agency, MVP Workshop from the region, which had a tremendous track record building for big and successful Crypto projects like Polygon (Matic) and, at the time, the high-flying Celsius network. MVP Workshop was the leading agency behind the Celsius app, but we all know how the project ended. The downfall of Celsius initiated the downfall of our partnering agency, which resulted in pausing all developments for Revuto and us stopping the internal DEX development.

Later, Revuto decided to slow down its burn rate and stopped all developments on products unrelated to our core business. We had to reorganize and put the DEX product on pause until better times resurface.

The time is now and Token Swap is here!

Today, we’re pleased to announce that the Swap Feature is coming back to the Revuto app in a more optimized setup. To prevent losing time and money on developing something that was never in our focus, we decided to go a different path but still exercise what we had promised to our users.

For the token Swap feature, Revuto is partnering with DexHunter, a project that has, with time, become a go-to app for token swaps on Cardano. DexHunter is not a DEX but a DEX aggregator pulling liquidity from all DEXs on Cardano to offer users the best and cheapest way to swap the tokens. Having such a project on Cardano, we realized it would be nonsense to spend time building one more DEX, among many others, and fight them to attract liquidity from Cardano projects and token holders, both exhausted from the long-lasting bear market.

In a few days, you can start using seamless integration with the DexHunter DEX aggregator within the Cardano wallet using the Revuto mobile app while the team will continue putting efforts into other token swap features that will make the Revuto app stand out, and that’s a cross-chain token swap feature.

In Q4, Revuto plans to start unlocking the potential of having both, the non-custodial and custodial wallets in the same mobile app. What this brings to the token swap feature is something else. You’ll be able to easily, without leaving the Revuto mobile app, swap the most popular crypto tokens from the custodial wallet for the Cardano tokens in the non-custodial wallet and vice versa.

Just imagine how convenient it will be to swap SOL for SNEK in just a few taps on the screen of your mobile device!

To promote the product and incentivize people to use our Token Swap feature(s), the Revuto team decided to keep the R Token on our roadmap to reward our users. Several times, we promised to come up with the exact utility and token economy for the R Token that will join REVU within the Revuto ecosystem of products, and now, because we know the final setup, that time is coming.
For more than a year, we worked with the best token economy design teams to find the most optimal solution to incentivize users to start using our Token Swap feature(s) without affecting the REVU token economy. In that scenario, inviting the secondary token to the ecosystem of products was the most effective way to ensure the sustainability of our main token.

Swap to Earn!

Keeping it “simple and easy-to-grasp” was always our motto, so the token economy for the R Token at its core is very elementary.

Revuto will use the R token to reward users for every Token Swap within the app, meaning that every swap, which has fees, will be incentivized by giving back in R Tokens after the swap is executed!

Revuto will keep the token economy stable by reinvesting profits coming from Token Swap features back in the R Token. On the non-custodial side, there are network, batcher, and DexHunter fees for the swap, while on the Custodial wallet, because of the off-chain setup, there are much less fees. Because of that, Revuto will keep the fees on all actions (withdraw, swap, send, stake/unstake) on the Custodial wallet much lower compared to those on the non-custodial wallet but use all the profits to buy back the R Tokens, which will be airdropped to the users’ custodial wallet after initiating a token swap within Revuto app, regardless of the wallet.

As promised before, and unlike the REVU token, the R Token will never be listed on external CEX, only in the Revuto custodial wallet and on DEXs. To further improve the R Token price performance, with time and correlated to the volume of swaps executed with the Revuto app, Revuto will burn R Tokens to establish the deflationary nature of the R Token circulating supply.

All about the R Token economy and its role in the Revuto ecosystem will be explained in the R Token whitepaper which will come out as soon as the market conditions allow it. The decision to keep things undisclosed until that happens was not easy. Revuto decided to perform a small token sale for the R Token to establish a nominal token price confirmed by the market but also, use it as a marketing tool to additionally create some hype around the Revuto project in 2025 when the favorable market conditions reemerge.

Until then, the same as before, your growing R Token balance will be shown in the “R Token Airdrop” section in your Revuto app. Following the launch of the custodial wallet, that amount will be replicated into your R Token balance in your custodial wallet and be ready for Withdrawals to the non-custodial wallet immediately after the R Token TGE and IDO (Initial DEX offering).

A heartfelt thank you to our community and investors for being supportive and patient while waiting for our roadmap execution. As we promised, eventually, we’ll get it all done.

Thank you,

Your Revuto Team.