If you want to follow the development process, here are all recent updates.
PLS MAINNET test successful.
The devs have successfully tested PLS-REX code on mainnet. Just a few more tasks to do, like latest updates in the web3 app, preparing AMAa and content for publishing. Stay tuned!
For all BSC-REX holders: The "airdrop amounts" have been published.
A portion of the initial supply of REX on PulseChain will be given to our fellow REXicans who particpated in REX on Smart Chain - especially the long-term stakers who have always supported REX. There was a snapshot and there will be an airdrop for them. Check the airdrop page and find your numbers.
Current progress and tasks of the devs.
Check our tweet to see a video summary.
Currently, we're in our second review phase for the 5 smart contracts to be deployed, including the economic evaluation. Afterwards, there will be another week of reviews, including the mainnet test. The last phase will be the full evaluation, including the new web3 app.
Shaphot of BSC-REX holdings has been accomplished
We're processing the numbers - please stand by.
If you held any liquid or staked or pooled BSC-REX (bsc-rex.io) on May 23rd 2023, you'll be able to claim some free PLS-REX stakes as a gift. Please inform yourself about the airdrop calculation and claiming procedure.
2023–05 :: Airdrop details and snapshot announced
2023–05 :: Published pulsechain-rex.io
2023–04 :: Started private testnet 1 (PLS / REX)
2023–03 :: Started creating whitepaper
2023–03 :: First AMA (english)
2023–02 :: Started creating pulsechain-rex.io
2023–02 :: Started defining REX on PulseChain AIRDROP
2023–01 :: Started preparing REX (PulseChain version)
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) FULL 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, fits into our mindest and fulfills 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.
1) 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. We went for PRICE APPRECIATION.
2) 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"). On the other hand, while being safe from the short-term traders, long-term committment is heavily rewarded - while also preserving the users's flexibility.
The details, token economics and strategic considerations are explained in the whitepaper.
We will publish it before launch.
Acknowledgement and appreciation
PLS-REX has been designed for stakers and PulseChain is 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 respect for PulseChain creator Richard Heart and his community. Needless to say, many REXicans are also HEXicans, including the REX creator. We are happy to be a part of you and hopefully get even more people excited about staking.
In General, REX on PulseChain will provide the same features as REX on Smart Chain, but with little changes, that have been designed to provide benefits for long-term stakers. All details will be disclosed before launch.
A portion of the initial supply of REX on PulseChain will be given to the REXicans, who already particpated in REX on Smart Chain - especially the long-term stakers who have always supported REX. There was a snapshot of the holdings on Smart Chain and there will be an airdrop for them. The airdrop is in the form of 10 REX stakes and will be claimable from REX DAY 1 to 365.
A portion of the initial supply of REX on PulseChain will be given to the SAC PHASE participants - everyone who has missed the BSC-based airdrop. The SAC PHASE will happen from REX DAY 1 to 28. Participants may sacrifice PLS tokens. The REX received from the SAC PHASE will be liquid REX and they will be claimable from REX DAY 29 to 365.
REX will be available on PulseX from REX DAY 22.
1) PulseChain just went live. Let's give it a few more days to finish their initial setup.
2) We are finishing our preparations and we'll launch anytime soon. Be ready.
Join our channels to not miss launch.
Please acknowledge some of the plans mentioned in the above March 01 AMA have changed due to REX community discussions.
We'd like to keep it online for documenting the development process.