Bring IT. Revault launch, TVL, and in between
Only 5 days have gone by since our Beta platform was launched, and we are already packed with news and new milestones. But first things first, here are some key takeaways from the past week
Revault is currently managing over 26M USD
Vaults TVL: USD 16M
$REVA staked on the platform: 500,000 / USD 5.5M
$REVA staked from total $REVA in circulation: 45% (500k/1.13M)
$REVA-BNB liquidity provided: USD 3.5M
These are indeed amazing stats but rest assured we are currently all focused on the product, its functionality, and setting the ground for our next strategic partnerships. Only after that, we will initiate our special weapons for attracting more liquidity.
Let’s talk about them APY’s shall we?
Those of you who chose to put their assets to use on our platform, were able to scoop up amazing yields, in some cases up to X15 than the underlying vault protocol is producing, all thanks to the bullish sentiment around Revault and the fact that almost 50% of the tokens in circulation are locked in the different staking pools. LP rewards are shy off 1K% APY as we speak.
Our team is currently working on a few cool features and dashboards to make the Revault user experience even slicker than it already is. This is a great point to stop and thank our devoted community for their great feedback and suggestions, keep them coming!.
Yesterday, our collaboration with the great community of Multifarm was announced. Having aggregated data of over 1,000 farms and 16 blockchains, Multifarm has seen it all and will contribute from their knowledge when we choose to add new vaults.
As we did with Multifarm, we keep contacting and being contacted by great projects and communities discussing potential synergies and ways to make our product kick ass even more than it already does. If you’ve got something for us, please DM one of our team members.
As you know, part of our tax buyback mechanism is based on burning a small portion of each $REVA transaction. To date, over 1,000 $REVA were already burnt. We believe it is still a small number since almost 50% of $REVA token holders faithfully choose to stake their tokens and it is definitely a buyers market at the moment. As we move forward, the burning model will kick in and help the protocol price exploration.
If that isn’t enough we will soon disclose more details about our $REVA Bonfire, stay tuned!