The REVU token sale was the first token sale in history that was done using the Cardano infrastructure and Revuto was the first project ever to raise $10 million through the Cardano blockchain. Now Revuto has decided to launch the first native mobile DEX on the Cardano blockchain for which we will create a brand new governance token called the R token. After months of research, the dual token model was the best setup we could integrate to bring back buy-back and governance mechanisms that we had to remove due to legal barriers. With this second token, we will successfully prevent the inflation of REVU token while, at the same time, rewarding our amazing community and REVU holders with an airdrop and additional rewards.
As you probably already know, we had to remove the buy-back and governance mechanisms for the REVU token in order to avoid the REVU token being marked as a security. Since REVU is already listed on centralized exchanges, this would be too much of a risk to play with and, because of that, we had to come up with a different approach. To bring back those mechanisms, the Revuto team is introducing a second layer of liquidity to the Revuto ecosystem by adding a new token called the R token. The R token will be the first Cardano native token ever whose supply will be entirely distributed to the community. With that being said, it is important to highlight that the R token is the first token ever in the Cardano ecosystem without token allocation for a token sale, private investors, or any tokens reserved for team members.
Revuto will mint 3 billion R tokens on the Cardano blockchain. Some of the goals of adding R tokens to the ecosystem are to reward our amazing community and our investors, incentivize the user base to hold REVU tokens, and to create additional buying pressure on REVU to become eligible for the R token airdrop. R token is designed to serve as a governance token and a revenue-earning token with a buy-back mechanism to create additional buying pressure on the REVU token through the R / REVU trading pair on Revudex. Using the R token we will introduce Yield Farming setups and other rewards for liquidity providers while at the same time we will protect the REVU token from inflation. The R token will also be used to partially cover batching fees on Revudex.