Investors who use the cryptocurrency exchanges Gate.io and KuCoin will soon be able to get their hands on a highly regarded Cardano asset this week, with Revuto’s REVU token set to begin trading on both platforms.
Revuto reckons REVU is the first ever Cardano native asset to go live on the tier-1 exchanges, making it an exciting prospect for anyone who believes in the blockchain’s potential. All the more so because REVU has genuine utility within Revuto’s subscription management app, which helps people save money on their subscriptions and earn rewards by staking and providing liquidity.
As Revuto explains, what it’s trying to do is give users control over their subscription payments, which can be a nightmare for anyone to manage. The biggest issue with subscriptions is it can be difficult to cancel a service you no longer want to use. As a result, people often avoid doing so and end up paying for things they’re not using.
Revuto uses smart contracts to pay subscriptions with crypto, including REVU and also other tokens. The smart contracts play a key role, because it means each payment must be authorized by the user first. So when that next Netflix payment is due, the app will notify the user and ask them to approve, block or snooze the payment. The snooze feature is especially useful as it means someone can delay making a payment until they have sufficient funds to do so.
Besides being used for actual payments, REVU can be staked from within the Revuto app, meaning users can earn rewards. They can also lend money to other users who need to borrow funds to pay their subscriptions to avoid losing access to a service, earning interest on those micro-loans.
Oh, and if someone does pay their subscription bill in REVU, they also receive a small discount on each payment.
Revuto is claiming “record growth” over the past four months since its app launched, suggesting the idea of subscription management simplicity has its fans. We’ll soon see just how big the demand for Revuto is when REVU launches on KuCoin and Gate.io on Jan. 7.
Revuto co-founder and Chief Executive Vedran Vukman said he’s proud to see REVU making history again, having previously launched the first ICO on Cardano and later, the first Cardano lite wallet. He explained that listing was a long process as Revuto needed to smooth over the legalities and regulatory concerns in both the EU and the U.S.
“Our ethos is to work only with the best, to ensure our customers and investors enjoy the best products and returns,” he said.