A new Ssssstaking pool is coming, and it’s SNEK!
Dear Revutonians, you asked for it, and here it is. We’re getting back to what has kept you engaged with the Revuto app the most since our ICO, and those are awesome staking opportunities. Since we launched it in 2022, more than 20k users have gotten their (free) staking rewards with the Revuto Staking Center. The most used pools were REVU staking pools, where people could stake REVU to get more REVU or other CNTs as rewards. The last CNTs we paid out were from the GeniusYield (GENS) and MuesliSwap (MILK) projects in Q1 2023.
Today, we’re returning with “Stake REVU to earn CNT” pools, and the first pool we’ll be offering is the $SNEK pool. The SNEK team and their meme coin have been very well-accepted by the Cardano community since their beginning. Looking at the token market cap, price performance, how big of a community they have, and plans for the future (new exchange listings, new product releases), we’re confident that offering you rewards in SNEK is the best thing we can do. The SNEK token has great potential for growth, and we don’t want you to miss it.
Despite being a MEME coin, what we like about SNEK is their doxed and proven team. The Revuto CEO was in contact with the team and decided they’re a good project to promote within the Revuto ecosystem and, possibly, establish a future partnership that could expand SNEK’s token utility within the Revuto ecosystem to the next level, allowing users to use SNEK as a top-up token for the Revuto Debit Card Program. If we’re not mistaken, this could be one of the unique utilities for any MEME in the crypto space: offering users to pay for their subscriptions with a meme coin.
For this occasion, we prepared a pool in which you can stake your REVU for 90 days and grab 8 MILLION!!! SNEK tokens to redistribute them to all users who decide to keep their REVU tokens staked with the Revuto app. Revuto is using these incentives to keep REVU TVL at high levels before the June launch of v4 (Debit Card Program). High TVL is important for token price performance and REVU token economy once the main token utility kicks in (Stake REVU to unlock Revuto Pro, Stake to Subscribe, Top-up VDCs with REVU, buy Subscription NFTs with REVU, and much more).
All those who’ve been with us since the beginning and all those joining us now in this bull cycle, we ask you to stake REVU with the Revuto Staking Center and help us achieve our goals. Only together can make them possible. In return, Revuto will always be grateful and reward you with staking rewards and much more (like NFTs) incentives for your loyalty.
How does it work?
This is for those who are new to the Revuto Staking Center. The SNEK pool has a subscription period during which you can stake your REVU tokens to the pool. After that, a lock-up period of 90 days starts. After the lock-up period ends, you’ll get all your REVU back to your non-custodial wallet, plus rewards in SNEK tokens. The amount to split among all stakers is 8M SNEK. The pool hard cap is 10M REVU, but it can be less if the cap is not reached until the subscription period ends. APR of 26% is calculated according to the hard cap, but if fewer tokens are staked, the corresponding APR will be much higher because the reward will stay the same but distributed to fewer REVU staked. For example, if 5M REVU is staked (50% of the hard cap) by the expiration of the subscription period, the corresponding APR will translate to 52% (x2).
Important: Because of the occasional high demand (load) for the Revuto app (almost 380k registered users and +68k wallets), you may experience difficulties accessing the Revuto wallet and the Staking Center. Revuto runs a customized Cardano nodes for its non-custodial wallet infrastructure. If a heavy load happens, we ask you for patience when trying to access the wallet features.
Subscription period: from 8th of April to 12th of April (midnight UTC)
Staking duration: April 12th to July 12th 2024
Minimum amount to stake: 3,000 REVU
Maximum amount to stake: 250,000 REVU
Total pool value: 10,000,000 REVU
Total SNEK to distribute: 8,000,000 SNEK
Let’s stake it until we make it.
Your Revuto Team.
