Raven Swap

Jun 21, 2021

1 min read

RavenSwap Fee Distribution

RavenSwap charges a 1%+ 0.1 RVN fee for all transactions. This fee is necessary at the time because of the lack of a Ravencoin browser extension, so RavenSwap has to host a server that runs ravend to function.

The fees generated by RavenSwap will first be used to cover costs of the website, the domain and hosting cost $110 (~1800 RVN) in total. After initial costs are covered, a token with a supply of 100 will be distributed like so:

  • Ben Abraham — 25 Tokens for creating raven-trader-pro
  • Ravencoin Foundation — 25 Tokens
  • 25 tokens will be held by RavenSwap until a party develops a wallet extension, in which case they will receive the 25 tokens along with all fees generated
  • RavenSwap — 25 Tokens

This token, as hinted above, will reward holders with 100% of the fees generated on RavenSwap, paid out weekly.

Once a wallet extension has been developed RavenSwap will convert to a no-fee model as soon as possible. The token will still be useful because it will be used to advertise on RavenSwap, similar to PooCoin’s model.