REX on PulseChain: Launch date announced
REX on Pulsechain starts on Feb 23, 2024
REX is a cryptocurrency that mimics Certificates of Deposit (CD) on a blockchain and offers unprecedented flexibility. According to coinmarketcap.com, REX is a leader in the CD sector on BNB Smart Chain.
After May 23rd, 2023, when REX has announced to deploy a new and independent version of the REX protocol on PulseChain, a lot of discussions and development took place, to form a new version of REX.
Now, that the development is finished, the launch date has been announced: February the 23rd, 18:00:00 GMT / London.
A new and independent REX
REX has a stable protocol running flawlessly on Binance’s BNB Smart Chain (BSC), packed with inventions, on bsc-rex.io.
Nevertheless, REX understands being successful in crypto today requires invention and adoption, leading to the need and will to further invent and improve.
So, REX used their development capabilities, community knowledge and combined experience to create something new, merging well-working concepts with new technology and features — for all REXicans, HEXicans, PulseChain lovers and the whole crypto fam.
The new Pulsechain-REX is certainly different from the BSC-REX, and certainly different from other crypto.
According to the whitepaper, it’s a closed ecosystem offering extended staking, feedable NFTs and boosts.
“If you’re into decentralized staking, delayed gratification and something you can build and grow, REX is for you. REX is not super easy, but it has a lot to offer — and it’s probably fun.”
Short Description of Pulsechain-REX
REX on Pulsechain is not a usual meme or trading token. REX is a DeFi protocol that offers several elements, like (boosted) STAKING or (growable) NFTs to allow its users to create personal strategies and build and grow their positions over time. REX is not designed to buy in and out in a short period of time or getting rich overnight — this won’t work.
REX on Pulsechain has been created for long-term thinkers. First things first: The most prominent new feature in REX, as indicated above, is you can’t trade it quickly.
As a new user, you’ll need to use the features and possibilities the protocol offers and earn the right to sell tokens (think of building a “sellable amount” within the ecosystem).
It’s not possible to buy and sell the token, without using the protocol. Rather, the protocol invites you to use one or all of its functions and grow your positions and to max out — and then sell some of your “sellable” tokens whenever you like.
Restrictions and their advantages
It’s not required to create ultra-sophisticated strategies, but you’ll need to do something wihin the ecosystem to earn the right to sell. This interaction obligation is a new approach, a fresh idea.
It’s quite restrictive on first sight, but it offers great advantages.
The restrictions protect the users from swing traders and arbitrage / trading bots and panic selling — and thus allows to plan in longer terms than in usual tokens. No one can dump all their tokens, as everyone has to build their positions, first.
A constant inflow and a slow outflow shall be the way to success.
Core features
Without going into all the details in this short summary, the protocol allows to stake REX tokens, to stake and grow REX NFTs and to provide liquidity. All those things earn some kind of rewards — either REX tokens or “sellable amounts” or both. Also, those things can be boosted with a booster token, the TREX, to earn higher rewards or to earn them quicker.
Finally, after 180 days from launch, users may “wrap” REX + sellable amounts into Wrapped REX (“WREX”) — a fully tradable, transferable ERC-20, that may also be used by other contracts and be integrated by partners and even be listed on CEXs — without harming the secured closed REX DeFi ecosystem itself.
Acknowledgements
Everyone helping blockchain technology evolve and proceed shall be thanked. Especially:
The REX community — for your steady stream of valuable ideas, constructive criticism, honest feedback, witty banter, and comic relief throughout the design and development process.
Richard Heart — for being Richard Heart. And for making pulsechain.com.
OpenZeppelin — for your essential Solidity smart contract interfaces and building blocks.
Bankteller and the Elephant Money herd — for creating EM NFTs and FUTURES — Some of the public MIT code has been used.
Read the full whitepaper on pls-rex.io/paper.
Preview
New REXAGOTCHI NFTs: rewards-earning, feedable NFTs
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