What Is Revest Finance (RVST)?
Revest Finance is a platform of secure smart vaults, where users can lock any ERC-20 tokens, which are the standard token type of the Ethereum blockchain in Revest Smart Vault. Community members can use the platform to mint smart vaults, earn rewards by staking the native currency of the platform and NFTs (Non-Fungible Tokens).
According to its whitepaper, Revest is a new protocol for packaging, transferring, and storing fungible ERC-20 tokens into ERC-1155 NFTs. The resulting Financial Non-Fungible Tokens (FNFTs) represent a new asset class within the crypto ecosystem. FNFTs are backed by fungible ERC-20 tokens that exist on leading blockchains.
FNFTs have all the attributes of typical NFTs and are fully compatible with all marketplace, wallets, and interfaces that support typical ERC-1155s. FNFTs are created when specific amounts of ERC-20 tokens are deposited into a Revest Smart Vault. The Revest Finance platform offers the following types of locks to its users:
Time lock: Users can lock transferable value and only unlock it after completing a specific period.
Value lock: Users can experience incentive structure with value locks. Once the token exceeds a specific value, users can specify vesting terms to unlock.
Address lock: Users can use or create an address lock for their specific use case to experience the full potential of Revest Smart Vaults.
Revest Finance consists of two interwoven components called the Revest Protocol and the RVST token. The Revest protocol is a self-service platform enabling its clients to create financial non-fungible tokens backed by any ERC-20. RVST is the native token of the Revest Finance platform.
Token owners can use the RVST coin to earn a share of the revenue generated by the fees earned by the Revest Finance network users. The platform offers a reduction in transaction fees based on the number of tokens held by the users. The RVST coins allow token owners to participate in the governance of the Revest protocol.
History of Revest Finance (RVST)
The whitepaper was published on November 6, 2021. Rob Montgomery is the CEO, and Louis Gagnon is the CFO of the Revest Finance network. Further, the total supply of RVST tokens is one hundred million tokens.