Revuto: Year 2022 in review
Dear Revutonians, 2022 is behind us and what an eventful year it was. We all know how volatile and insecure the crypto market is but, still, the past year’s events were hard to predict. From the year’s start, we’ve seen a downfall of BTC, which put many crypto projects in a very tough position. But it makes us even more proud to report that Revuto both persevered and continued to deliver despite some rather unfavorable market conditions.
To put things into perspective, this report from CNBC depicts how brutal the market was as seen in the following losses:
- Terra: -100%
- Solana: -93%
- Cardano: -80%
- Ether: -67%
- Bitcoin: -63%
Even though the market has been a bear of bears, especially for low-cap projects like ours that are still developing core features and waiting for tokenomics to kick in, Revuto both persevered and continued to deliver a wide range of updates. There are so many things we did during the year that it would be impossible to put them all into a short summary, but below you can find some of the highlights from Revuto month by month in 2022.
In January, listing REVU on KuCoin and Gate.io was the most anticipated event since we had our token sale.
Listing on not one but two tier 1 exchanges was something that caught the community by surprise. While there were some technical issues that prevented the double-listing to happen on the same day, it was eventually all worked out and Revuto supporters both old and new got the opportunity to purchase and sell REVU tokens. Looking at the historical data, surprisingly, the biggest daily trading volume REVU token had was on January 11th, which was 4 days after listing on Kucoin. $9,157,528 in REVU were traded that day. Unfortunately, on January 7th, after a long time, BTC price lost support above $40k levels and that resulted in pulling the whole crypto-market into crypto winter. At that moment we knew the year would be tough to survive and that we needed to switch all our efforts into building our product.
To show how much dedication and work we put into developing Revuto every week, we started releasing our weekly updates. So far we’ve released 47 Weekly Updates since January and 2 Bi-Weekly Updates since we switched to the new schedule for 2023. Each update gives the community a look at what the Revuto team has been up to with the project and highlights new features that have either been released or are coming soon as well as technical details of changes being made within the app. You can find all of our Weekly and Bi-Weekly Updates on our Medium channel.
To give insight into what our key team members are working on, we launched the Revuto Tech Talks series on our YouTube channel. Tech Talks gave our brave team members an opportunity to share their insight into a wide range of topics from our strategy and operations to broader things pertaining to the Cardano network and blockchain in general. We’ve released a total of 25 videos to date.
In February, we launched our consumer oriented website and Revuto Staking Center.
The new website design presented Revuto in a fresh and vibrant light and served as a way to extend the reach of Revuto’s core product — the subscription management app — beyond the world of crypto investors and into the wider universe of subscription users. We believe the consumer-oriented website explains well what our key mission is — to save people money on their subscriptions. Amongst many other things, the webpage serves as a webshop to purchase our Revulution NFTs and to show you how much you can earn (EARN section) by referring your friends to Revuto. You can visit our website at www.revuto.com
In March, we expanded our staking options in the Revuto Staking Center and started announcing relevant partnerships with other Cardano projects.
Revuto understands that its investors tend to be interested in other opportunities to invest in crypto currency and Cardano projects and has actively sought out relevant partnerships to bring more options to Revutonians for diversification of their assets. Staking REVU and earning other Cardano Native Tokens has been a great deal for investors and there has been a steady interest in the staking pools that we’ve been organizing. So far we offered more than 25 staking pools in which users were able to stake either REVU or ADA to earn rewards in REVU, ADA or other Cardano Native Tokens. Until today, REVUTO has been on time with releasing all staking rewards promised to our users. During the year, the Staking Center has arguably been the most important part of our ecosystem and has given our users incentive to stay with us while we’re building the core functionality of the Revuto app. More importantly, when it comes to staking, we’re offering some of the best yields within the Cardano ecosystem. For instance, staking ADA in our R FUND Pool brings not only amazing APR of 12% on staking ADA, but also supports the Cardano ecosystem because Revuto has been using funds to invest in and support other Cardano projects.
In April, The Genius Yield ISPO went live within the Revuto Staking Center and we launched Rstronaut NFTs.
Stake REVU, earn GENS marked the launch of Revuto’s Staking April, which was extended to Staking Spring and then Staking Summer as Revuto presented a series of staking pool “planets”. This was the first Initial Stake Pool Offering (ISPO) of its kind and Revutonians could become participants in the initial distribution of supply for this fresh CNT from Genius Yield. Rewards in 100k GENS tokens worth around $30k were paid out to our stakers.
The same month we offered our Staking Center users to explore the Cardano universe by staking their REVU in all 8 of our staking pools (planets) to earn an Rstronaut NFT and $10k in REVU once the price of REVU hits $2.
The Rstronaut NFT promotion was a great success, resulting in almost 200 unique Rstronaut NFTs being delivered to our stakers. The Rstronaut NFT is just one of Revuto’s NFTs that bring utility to the Revuto ecosystem and has been offered to our users.
No less important, and we know how much you like this, to all Rstronaut NFT holders we promised Rstronaut T-shirts which will start arriving at your addresses in the coming days.
In an action packed month, we used the opportunity to announce Revudex — the first DEX on Cardano.
To show how capable our team is when it comes to building decentralized products on Cardano and to compete with upcoming DEXs which are all built to work as a web-based dApp only, we decided to build Revudex. To be honest, with an external partner, our team started working on a “stealth DEX project” in October 2021. The plan was to release the product, which should be of great use to the Revuto wallet as our non-custodial wallet is built into the native mobile apps for iOS and Android devices, meaning it can’t connect to web-based dApps and work with DEXs already available on the Cardano blockchain. To solve this problem, we decided to build our own DEX and launch it as an internal part of the Revuto app to allow our users to easily exchange their tokens for other CNTs. With the announcement of the DEX, we also announced a secondary token supporting our DEX ecosystem called the R Token. Later in the year, we allowed our users to get access to the R Token by staking their REVU in the Revuto Staking Center and also to participate in the R Token Airdrop.
In May, The first Initial farm Offering for Profila was announced and went live. During the same time period, we celebrated our ICO anniversary with some incredible metrics.
Demand for our Profila IFO staking planet was amazing. It was hard to keep up with just how fast the pool ended up filling and it was a great example of how dedicated Revuto and its community are to helping other Cardano projects soar.
May also marked the first anniversary of Revuto’s ICO. Remember that this was the first-ever ICO on Cardano and it sold out in just minutes. In the year since that ICO, Revuto worked on raising funds, gaining users, releasing new updates, seeking out partnerships, launching staking pools, participating in international conferences and events, and much, much more. Just to give you some numbers, more than 355k users registered with the Revuto mobile app, more than 61k users created a Revuto wallet on Cardano, and more than 2.9k people are actively using Revuto Staking Center.
One example showing how important the Revuto project is to the Cardano ecosystem is that on https://defillama.com/protocol/revuto we rank as one of the top ten projects with the highest TVL.
Not any less important, after almost a year of due diligence and the compliance process, Revuto Estonia received an EMI (Electronic Money Institution) license from the Bank of Lithuania. The license granted us access to traditional and regulated financial services such as debit card issuing and payment processing. At the moment, Revuto is fully compliant to issue debit cards within the EAA (European Economic Area). More importantly, the obtained license allowed us to start the technical integration with our acquiring, card issuing, payment processing and banking providers.
In June, we announced the “Viva la Revulution” NFT campaign.
The Revulution NFT campaign was a Revulution of revolutions, to say the least. Revuto decided to join the NFT craze and make things interesting by offering NFTs that bring owners free Netflix or Spotify for life. The limited offering was just an introduction to our Subscription NFTs with which Revuto plans to revulutionize the subscription economy. More specifically, we have one of the best utilities for NFT technology that will allow our users to subscribe with us to any service in the world for any duration and monetize unused subscription periods by selling NFT to others. The setup should not only save people money but also create a secondary market of unused subscription periods.
Some results of the campaign can be tracked with this link our marketing agency created for us.
In July, during the Revulution NFT campaign, we introduced our Physical Debit Cards as Card NFTs.
If you didn’t pick one up, you still have a chance to purchase a Card NFT and secure your Revuto PDC in one of our limited formats (Premium or Metal). The opportunity is unique because the ownership of a Revuto PDC will grant you access to products made specifically to take advantage of traditional financial setups and the world of DeFi. More information about the cards can be found in this link.
In August we launched our long-awaited version 3.0 of the Revuto app
This major update included the first interaction of our core feature and that’s the subscription management feature. The update finally gave our users something they’ve all been waiting for so long — the ability to add their subscriptions to the Revuto app, track how much they’re spending, and get notifications about when they need to pay for something. Still, this introduction to Revuto’s core feature was just the beginning of something we call active subscription management where people will be able to actively manage their payments and take advantage of crypto and DeFi setups to save money on paying for their subscriptions. So far, more than 2.5k unique subscriptions have been added by our users to the system making it the perfect foundation for adding VDCs to the setup.
Also with v.3.0. we introduced our Password Sharing and Swapping feature which we believe will make life much easier and safer for all those who’re sharing their services with their family or team members. The feature is encrypted and built to provide users a simple and secure way to store and share their credentials.
In September, one positive thing was the announcement of a partnership with another NFT project on Cardano called BattleAlliance. More about the partnership can be read here.
Again, with one of many partnerships we made during 2022, Revuto has shown how dedicated it is to supporting, promoting, and working with other amazing projects on Cardano. Still, this one was special because the BattleAlliance team was from the same country of origin as we are. So, in a way, it was also helping our friends. The partnership had great success as it raised engagement inside the communities of both projects and resulted in significant NFT sales and other initiatives. The peak result of the partnership is yet to come because the BattleAlliance team has promised to deliver a pay-to-earn NFT game in which Revuto will play a significant role.
One of the negative things during the month of September was the announcement about postponing the launch of the Revudex and the R token. In the second part of the year, and especially after the first big fall of crypto projects (Terra Luna and UST), crypto market conditions were not favorable to launch anything. With the year coming to the end, we saw many great crypto projects failing, which resulted with big FUD among crypto users and our decision to postpone the launch of our DEX for better times was the best we could do.
In October, all our activities were focused towards developing our core feature, meaning integrating with our card issuing and banking providers, regular app updates and, most importantly, watching the market conditions and adjusting accordingly.
During the month, from our live studio, we did one of our monthly regular AMAs, followed by a small recap of the Revulution NFT campaign. Unfortunately, because of even worse market conditions, October was a super-slow month with very low user engagement, which culminated with the fall of FTX early the next month.
November, despite all the negativity towards the crypto space because of the FXT saga, ended in a very positive note. During the month, via on-chain voting, our CEO Vedran Vukman was selected by the Cardano community to present Revuto live at Cardano Summit 2022 in Lausanne, Switzerland and to participate in a panel discussion on a main stage about RelFi and how it can bring Crypto to the masses. The RealFi initiative was especially important to us because we define Revuto as an ecosystem of products removing the friction between crypto liquidity and real-world economic activities (RealFi), specifically subscription payments. The goal is to create a real impact in the real world by saving people money on their subscriptions while offering cheaper credit/financial products supporting crypto and Defi.
During his stay in Switzerland, Vedran was actively participating in the first Cardano RealFi Consortium meetings where he met with other RealFi project founders to discuss how projects like ours, not necessarily focused on DeFi and TradeFi, can bring crypto to the masses. For the rest of the team, the month was full of product development and integration with 3rd party services (Raisr/Worldpay/Banxa).
During the month, Dealroom.com, Google for Startups, Atomico and CredopVentures did a quarterly recap about Central and Eastern European startups where Revuto was selected as one of the top Web3 Startups to watch out for in Central Eastern Europe.
To confirm the status of Revuto in the crypto market, our co-founders Josipa Majic Predin and Vedran Vukman were asked several times to join live on the Bloomberg Adria TV channel and give their insights about where crypto is heading.
In December, when things usually get distracted by the Christmas holidays and NY, our team didn’t decide to take days off but instead, we kept on working. Within the app, we reopened our new KYC feature to get our users ready for the VDC launch in Q1 (planned), and for the integration with the FIAT-to-Crypo onramp service introduced in our latest app update v.3.2. The integration with Banxa allows our users to buy ADA now with their debit or credit cards directly from the Revuto app. Later it will be possible to buy REVU tokens and eventually other CNTs. The integration with Banxa was important not only for onramping FIAT-to-crypto but also for the crytpo-to-FIAT off-ramp, which will allow users to top-up Revuto VDCs with crypto and spend funds to pay for their subscriptions.
The last days of the year were reserved for the Cardano Summit Recap where you can get a small insight about what was going on there and how our CEO Vedran Vukman presented Revuto to the Cardano community.
To conclude, 2022 was a troublesome year for crypto in general. The market conditions were devastating, resulting in many established crypto companies and funds going bankrupt. But as seen above, Revuto survived the worst by focusing on hard work, app development, and making partnerships with projects adding value to Revuto.
As you can see on Google Play and the App Store, during the year, we launched several Revuto app updates with some significant UX improvements and product launches. Although there were many things we could have handled better, we are proud of all that we have done during the year, and are looking forward to pushing Revuto to where it belongs — to unicorn status. Once again, thank you for the support and patience, without you all of the above wouldn’t have been possible, so we hope to see you again because 2023 is ours.
In case you missed:
📣Revuto’s Bi-Weekly Progress Report: 12.01.2023–25.01.2023 — Read now
💼 Office Day — Watch some highlights
🚀 REVU listing: Trading is live on KuCoin and Gate.io 🚀
📲 Download the Revuto app now! — Available for iOS, Android, Huawei
🎥 Revuto Deep Dive — Watch the video
📻 UK Radio campaign — Listen to our slot
💫 Unique Revuto NFTs — See all NFTs
🎥 Our co-founder Jos on Cardano360 — Tune in at 38:20
🎂 Our Token Generation Event (TGE) aka REVU Token birthday — See the event
🎙 Cardano live podcast with our co-founder Jos — Listen to the podcast
To catch up with everything, please FOLLOW OUR channels 🚀
🎥 YouTube — Take a look at our Demo
🌐 Website — Visit Site
📃 Whitepaper — Read Whitepaper
📖 GitBook — Read more
📢 Telegram — Follow our Official Announcements Channel
🗣 Telegram — Join our General Discussion
🕊 Twitter — Follow our Tweets
🔥 Reddit — View Reddit Account
🚀 Discord — View Discord Account
🗂 YouTube — See Cardano 360 Roadshow
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