At the Infobip Shift conference, Revuto co-founder Josipa Majic announced a groundbreaking initiative to look forward to. Revuto is launching a fund worth $2 million for projects on Cardano called the R Fund.
No doubt, this is huge news for the fastest growing blockchain globally, and it’s most definitely a development for potential startups in the Cardano ecosystem to keep an eye for.
The co-founder of Revuto describes this fund as “your first ticket prior to an Initial Coin Offering.” R Funds aims to invest in talented startups in the Cardano ecosystem and projects that hopefully return unrivaled user experience.
Let’s look at what the R fund is and what it means for the Cardano ecosystem going forward.
What Is Revuto, And What Have They Been Up To?
Revuto is an active subscription management solution that allows users to control subscriptions and make payments on subscription-based products. Revuto prides itself as the first dApp built on Cardano’s blockchain.
It offers decentralized finance (DeFi) services and has its native token, called REVU. Revuto’s payment ecosystem seeks to resolve the issues with most subscription platforms, such as complicated unsubscribe procedures, free-trial traps, and overbilling.
These challenges put the users on the losing end, forcing them to pay for services they don’t or no longer need. As a relief, Revuto gives users the power to control what, how, and when to pay for subscriptions.
Here’s What Revuto’s R Fund Is All About
The R Fund from Revuto is a cryptocurrency fund set up to support upcoming projects and companies on the Cardano blockchain.
It is a way for Revuto to stay committed to Cardano’s cause while becoming one of the community’s biggest builders. Speaking about the move, the CEO of Revuto Vedran Vukman gave insight into what the brand seeks to achieve.
“We want to support Cardano projects as early as possible and do that using our experience from a recent oversubscribed ICO, the 1st of its kind on Cardano,” Vukman said.
“We’re in an incredible position to have the funding, tech, and community ready to support your next project on Cardano. The R fund will help with setting projects up for a successful ICO and then using one of the biggest communities to spread the word and help you acquire initial users and backers.”
The $2 million R Fund not only gives project builders capital what they need for developing projects but also intends for the fund to accomplish the following:
- Assist with launching an ICO on Revuto Launchpad
- Permanent Request for Proposals
- Support from its community
- Joint marketing endeavors
Without a doubt, the R Fund initiative is a plus to Cardano’s community and is a foundation for many good things to come. It’s time for project builders to dive in and make the most out of the offering.