Revuto - what is it?
The Alonzo hard fork is tantalisingly close, and the Cardano ecosystem is poised to explode with several offerings prepping themselves for quick launches. Amongst the fore runners is Revuto, who are likely to deliver the first Cardano dApp. Revuto is not yet another DEX, Revuto is something new and entirely different.
Revuto is set to provide a simple dApp based solution to an every day real world problem - promising a one stop shop for managing subscription services. Many of us use a wide range of these services which often represent a significant potion of our regular spending: Spotify, Amazon Prime, Audible, Twitch, Dropbox, the list is a long one. Budgeting can be tough, with different payment dates and payment methods. Then the shock when you discover your subscription has disappeared because you failed to update your debit card details.
The idea is startlingly simple, rather than navigating the endless complexities of subscribing and unsubscribing from services, the customer simply blocks and unblocks payments directly from the Revuto app - just turn the subscription on and off at will, no more convoluted processes that seem designed to trap you. The app will also allow users to block trial periods from lapsing into paid subscriptions, which i know is something that has caught me out. Another revolutionary feature is the option to snooze payments for up to seven days, allowing the user to budget adequately and avoid fees and overdraft charges.
Revuto doesn't stop there, at its heart Revuto is a blockchain solution, and underpinned by its own native currency, the REVU token, which besides operating as the governance token will also offer -
- Crypto wallet with integrated payment system for using native tokens
- Application based DeFi protocol for micro-lending
- Staking and liquidity rewards
- REVU rewards for referrals and cashback
Users will be able to deposit native tokens to Revuto and then use virtual debit cards to pay for services using their crypto balances, the dApp will also allow users to stake REVU as collateral and be loaned EURR stable coins to pay for their subscription services, reducing the overall cost. Users will also receive REVU tokens as cashback when paying for subscription services, further rewarding Revuto users and the cost of the subscription services.
The dApp is live for iOS and Android, you can register and download the dApp by following this link.