ON PULSECHAIN
A closed DeFi ecosystem on PLS.
Built for building, not for trading.
Protected. Delayed. Gratification.
INTRO
WELCOME
REX is different from what you've seen before.
REX is not for buying-pumping-selling strategies.
REX prevents short-selling and quick dumping.
REX is made for building and growing your positions in a protected ecosystem.
REX has been crafted for people who understand staking
and the power of delayed gratification.
In addition, REX provides a brand new concept of NFT staking -
Think of it as a combination of NFTs and FUTURES -
Stake NFTs for yield. Feed to grow and to earn higher rewards.
REX on Pulsechain is a closed DeFi ecosystem.
REX prevents short-selling and thus has trading restrictions.
But REX absolutely lets you build and earn within the ecosystem.
Finally, REX will open up to the world after 180 days,
automatically providing a fully tradable Wrapped REX,
created from within the ecosystem, to be usable outside.
Unleashing the beast.
Feel invited to explore REX.
There is more to it than you would think at first glance.
Read the timeline and how to get started below.
Yes, you're early.
TIMELINE
DAY 1 SAC PHASE has started. Go to app.pls-rex.io.
5 steps to use REX
1) Get metamask.io wallet (or use Rabby).
2) Add Pulsechain network to metamask.
3) Visit pulsechain.com/buy to get some PLS.
4) Read the whitepaper.
5) Visit app.pls-rex.io to use REX.
NEWS
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Acknowledgement and appreciation
PLS-REX has been designed especially for PulseChain. It's the perfect environment with smart people understanding the concepts of DeFi, staking and delayed gratification - the REX protocol on PulseChain is made for you. All REXicans, HEXicans, PulseChain lovers and the whole crypto fam.
We want to express our love and respect for PulseChain creator Richard Heart and his community. Needless to say, many REXicans are also HEXicans, including the REX creator. We are happy and proud to be a part of Pulsechain and hopefully contribute to its growth and success - and get even more people excited about staking - and maybe get some stakers excited about utility-NFTs.
PRICE CHART
Kindly acknowlegde, REX prevents short-selling. REX is for building your positions within the ecosystem - and finally earning a "Sellable Amount" - the right to sell the tokens. You can't just buy and sell. You need to use the protocol.
Therefore, we'll see a lot of green candles.
The sells are coming in slowly (at rising prices).
That's on purpose.
As you'll see in the chart, people can sell - and they do already.
It's from using the NFTs - to earn "Sellable Amount"...!
Not only "buys", but also nInting an NFT increases the price, and so does feeding an NFT.
Read the paper for more information on this.
The story in short
REX on PulseChain
The idea of REX STAKING was born in 2020.
In 2021, we had a not-fully-audited REX 1.0 running on Smart Chain, that unintentionally paid like 20% staking rewards - per day. (It wasn't obvious that it was a code error, because the interest rate went down daily as intended, but not as fast as expected.) Anway, the price went up like crazy and people loved it. Of course, in the end, it was not sustainable, and we tried to fix the inflation, but we couldn't because there were no admin keys. So, at some point, it collapsed. We did an airdrop into REX 2.0.
Lessons learnd: 1) AUDITS. 2) High rewards are awesome.
In 2022, we have started the triple-audited REX 2.0 running on Smart Chain, packed with all our inventions, paying +50% staking rewards per year. It runs smoothly and sustainably. Although we had a lot of promotion and we had a lot of eyes on REX, the real hype hasn't kicked in, it hasn't mooned yet. In deed, the price chart is far below expectations. Maybe the chart will turn someday - REX (XRX) is flawless, unstoppable, triple-audited and pays a lot of staking rewards. And it provides all the flexibility in staking that we wanted. Currently, there are 30,000 active stakes and around 1 million Dollar MCAP and TVL. Find it on bsc-rex.io - look at cool stuff we have build so far. Consider to get some REX (XRX) tokens on PancakeSwap.
In 2023, we have been following the wish of our community to build a special REX for PulseChain.
So we were thinking about what could be a game changer in staking: easy to understand, easy to use, easy to play - fitting our mindest and fulfilling our appetite for price appreciation. What is the essence to create real long-term sustainability - without giving up the flexibilty we love? Would it be possible to create something that constantly goes up, but also allows cashing out regularly - without harming the chart? What does it take to build a long-term passive income model that users can rely on?
Here is the very short summary of our thoughts.
In today's DeFi crypto world, you need one of two things to create an enjoyable token: HIGH REWARDS or PRICE APPRECIATION. You can't have both. For PLS-REX, we went for PRICE APPRECIATION.
To achieve that, you'll need a set of restrictions or incentives. We went for both. On the one hand, we have a few restrictions (preventing traders from "dumping on the stakers' heads"). While being safe from the short-term / swing traders, long-term committment is heavily rewarded - while preserving the users's flexibility.
The details, token economics and strategic considerations are explained in the whitepaper.
INVENTIONS
In General, REX on PulseChain will provide the same features as REX on Smart Chain, but with little changes - designed to provide benefits for long-term thinkers and keep out swing traders and bots.
REX has also added amazing new NFTs that earn constant rewards when staked (activated) and thus extends the usual token staking to NFT STAKING. But REX NFTs cannot only be staked, but also fed - to grow them bigger - to earn more rewards.
Find all details in the whitepaper.
How to get REX
1. AIRDROP
This is only for users who have participated REX on Smart Chain before and were in the snapshot on May 2023 ("BSC-REX presale").
DETAILS: A portion of the initial supply of REX on PulseChain will be available for REXicans, who particpated in REX on Smart Chain - and bought REX tokens there. So, this airdrop is to be considered as a kind of "presale" that happened on Smart Chain. Those users receive a portion of PLS-REX, which can be claimed as 10 stakes after launch, so the supply isn't immediately available, but distributed over a period of time - which shall prevent from dumping. Technically, there was a snapshot of the holdings on Smart Chain (in May 2023) and there will be an "airdrop" for those participants. The "airdrop" is claimable in the form of 10 REX stakes and will be claimable from REX DAY 1 to 365, so there is plenty of time to claim it - yet earlier will certainly be better.
More Details: Airdrop explanation page
2. SAC
A large portion of the initial supply will be given to the SAC PHASE participants. This is especially for everyone who has missed the above BSC-based airdrop / presale.
The SAC PHASE will happen from REX DAY 1 to 28.
During SAC PHASE, participants may sacrifice PLS tokens.
After SAC PHASE, from REX DAY 29 to 365, participants may claim their REX.
Note:
The address who has sacrificed the most PLS during the first 21 days of SAC PHASE will automatically receive 1% of all sacrificed PLS tokens so far with the beginning of REX DAY 22. This is related to the "liquidity day" on REX DAY 22, when also the initial liquidity is sent to the REX-PLS pair. From then on, it's also possible to buy REX from the pair, see next point: 3. SWAP/BUY.
More details: SAC explanation page
3. SWAP / BUY
REX will be available on PulseX (REX-PLS pair) from REX DAY 22.
Of course, swapping tokens will be available in the app.pls-rex.io, as well.
