Famous investment firm Quantum Economics announced that it has acquired DeFi altcoin platform Revault Network. The price of REVA token is rising in double digits on the news.
Quantum Economics acquires a new DeFi altcoin project
Revault allows users to find the highest-yielding DeFi enclosures at any given time. According to a new announcement, Web3 developer Mati Greenspan-backed Quantum Economics is acquiring the DeFi altcoin platform.
According to the press release, assets and intellectual property will be purchased from the Revault Foundation and its subsidiaries. Quantum Economics will also receive Revault founders’ tokens, which have been transferred to its own DeFi project, the Layered Cake Protocol.
Revault Network’s decentralized autonomous organization (DAO) will continue to operate and vote on development decisions. Quantum Economics stated that the acquisition is the first time an Israel-based company has purchased a DAO. Revault Network’s REVA token will also remain in use. According to CoinGecko, the altcoin currently has a small market cap of just $668,000.
Revault Network (REVA) price peaks after announcement
REVA, which is ranked 3,900 by market value, gained double-digit value after the investment by Quantum Economics. Peaking at $0.08354, the altcoin keeps its last 24-hour gains at 17%. It is currently experiencing a major price correction.
About Revault Network
Revault is a service that allows users to find the highest paying safes at any given time, eliminating the need for users to choose where to deposit their money. Revault and Quantum Economics previously partnered in 2022.
Specifically, it is the first and only Layer 4 DeFi project. It divides Defi into 3 available tiers – 1. Borrowing and lending, 2. Farming, 3. Crates. Revault is a tier 4 vault collector and relay designed to bring you the best performing vaults for your assets at any given time and rebalance that position when a new vault takes the lead or your active vault is compromised.
In a nutshell, Revault aims to be the Google search of Defi. It was born to solve two big problems in Defi. Its main purpose is to find the right place (including risk) for its users to invest their assets and always keep this location at the optimum.
Comments by Mati Greenspan
Mati Greenspan, CEO of Quantum Economics, suggested in his recent statements that the acquisition will help move DeFi forward overall. Greenspan expressed his belief that DeFi could “completely replace traditional finance” within a decade, and said viable alternatives to traditional finance would allow investors to “invest in DeFi safely and easily.”
Greenspan is well-known in the blockchain space for his extensive commentary on the crypto industry and portfolio management advice. In addition to his founding role at Quantum Economics, he previously served as a Senior Market Analyst at eToro.
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