ON PULSECHAIN
WHITEPAPER
"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."
Read the preface to get the idea and concept.
Read the full whitepaper before participating.
Preface
REX on Pulsechain is not a usual meme or trading token.
REX is a DeFi protocol that offers several elements, like (boosted) STAKING 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 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 CEXes - without harming the secured closed REX DeFi ecosystem itself.
So, you spend 5 minutes to get this far.
You have learned that REX is not intended for quick trading, but rather for building something over a longer period of time.
Now, are you ready to learn about REX STAKING?
Ready to learn why the stake-able TREX booster token is a mighty weapon?
This whitepaper shall reveal all the secrets of REX to you.
If you find something unclear, get in contact with the REX community on telegram.
HAPPY READING!
Contents
1. About REX and Time Deposits
1.1. Security information
2. General REX information
2.1. REX code
2.2. REX time
2.3. Special REX days
2.4. Requirements
2.5. REX ecosystem
3. REX (REX) - MAIN TOKEN
3.1. REX transfer restrictions
3.2. How to get REX
3.3. REX token Supply
3.4. Supply inflation
5. STAKING
5.1. Opening a stake
5.2. Shares and Staking Rewards
5.2.1. Bonus shares calculation
5.2.2. Share price
5.3. Withdrawing Staking Rewards
5.4. Closing a Stake
5.5. Transferring a stake
5.6. Renaming a stake
5.7. Buying and selling a stake
7. WRAPPED REX ("WREX") - A tradable REX TOKEN
Time-based investments and bonding financial tools have been around for many years in the Traditional Finance (TradFi) world and have recently made their way onto blockchains, replacing centralized banking institutions with decentralized code-based protocols. These new technologies invite innovations in the financial models, making additional features and flexibility possible for the first time.
REX is a decentralized blockchain-based cryptocurrency utilizing smart contracts to provide such a native investment option, called "staking": locking up tokens for a period of time to gain rewards, called "staking rewards". This is comparable to a time deposit or certificate of deposit (CD) in traditional finance, but with more flexibility and greater possible gains. REX may also be thought of as an internet bond.
In crypto speech, REX is a staking token, so participants get REX and stake it over time to earn more REX. The additional REX earned by stakers comes from new REX that is minted each day, causing the REX supply to increase, or inflate, over time. The REX token supply inflates by 3.69% per year. This inflation is created by the contract and distributed to the stakers. On the other hand, REX also provides a burn mechanism, that works against this inflation.
REX Smart Contracts offer a wealth of functionality unprecedented in Decentralized Finance that makes managing stakes much easier and more flexible. For example, in REX it’s possible to name stakes (to keep track of their purpose), transfer active stakes to other accounts (for example, as a gift) and even withdraw already-earned staking rewards while a stake is active - like a passive income.
Also, REX provides a native decentralized exchange for active stakes, the STAKE MARKET; a user may buy and sell active stakes there - like in an eBay for stakes. This makes a REX STAKE itself a cryptocurrency.
REX also grants additional rewards for liquidity providers.
And as a special feature, the above mentioned core functions can even be boosted with the booster token TREX, that is available on a DEX for everyone.
REX is a DeFi protocol, where the users are meant to hold the tokens in their own custody, in their own wallets. Third parties are not involved. Users are interacting with the blockchain and smart contracts, directly.
This requires paying attention to certain security rules, listed in the next section.
Read carefully, especially when new to crypto.
To be as safe as possible in crypto, REX has made the following list for you.
READ CAREFULLY and NEVER break a single rule.
⚠️ Don't interact with REX smart contracts if prohibited by any law or regulation.
⚠️ If you reveal your private keys to anyone, assume all your funds will be stolen.
⚠️ If you reveal your seed phrase to anyone, assume all your funds will be stolen.
⚠️ If you reveal your wallet password to anyone, assume all your funds will be stolen.
⚠️ If you connect your wallet to any third-party website or app, your funds can be stolen.
⚠️ When using a website/app, make sure it is official and the domain is written correctly.
⚠️ Always use contract addresses, not the name of tokens, to avoid fakes and imposters.
⚠️ Don't rely on social media. If you do, please be aware of the following risks.
⚠️ Be aware, people do steal identities, fake accounts and deceive.
⚠️ Never reveal any sensitive data to anyone for whatever reason.
⚠️ Never consider other people’s words/messages/posts as financial advice.
⚠️ Always do your own research (DYOR). Take responsibility for your actions.
⚠️ Don't let anyone rush you - scammers will try to. Take all the time you need.
⚠️ If anyone asks you to use third-party websites or apps or to send tokens, report them.
⚠️ Cryptocurrencies should be considered new technology.
⚠️ Cryptocurrencies bear an immense risk of a total loss of tokens or their values.
⚠️ There is no guarantee, the technology or code will work forever - or at all.
⚠️ ONLY INVEST WHAT YOU CAN AFFORD TO LOSE.
⚠️ To minimize risk, STRICTLY follow known investment rules, like Cramer's 25.
⚠️ Even if something appears to be safe - it cannot be 100% safe ever.
⚠️ It is well-known, that even the big cryptocurrencies lose 90% of it's value from time to time.
⚠️ DO NOT GET INVOLVED, if you are not ready to take such a risk.
⚠️ REX smart contracts run on decentralized blockchains. Those blockchains are to be considered "third party" and their availability cannot be guaranteed at any time.
⚠️ Apart from using the functions of REX smart contracts directly or via a blockchain explorer, REX smart contracts might be used via the "REX website" and "REX app". Someone made this voluntarily to make it easier to interact with the Smart Contracts. The functionality and availability of the website and app is not guaranteed at any time.
2.1. REX code
REX code is immutable and made public.
REX code is packed with English comments, so one can understand it better.
REX code shall be examined to decide whether to interact with it or not.
REX is completely non-custodial and has verifiable security.
REX provides external and public functions to interact with it, explained here in the best possible way.
Once deployed, initialized and "ownershipRenounced", REX contracts have no functionality granted to the deploying account and no administrative keys. They are unchangeable forever.
All users, including the developers, have precisely equal access to the contracts' functionality.
2.2. REX time
Time is tracked by the contracts in whole day increments, beginning at REX DAY 0, which starts at the set LAUNCH_TIME, defined as unix time in the REX contract.
REX DAY 1 will start on GMT: xx. xx, 2025 18:00:00, and the SAC PHASE begins.
2.3. Special REX days
DAYS 1-28: SAC PHASE (sacrifice PLS for REX)
DAYS 29-365: SAC PHASE participants may claim their REX
DAY 22: Automatic liquidity creation (REX-PLS pair). REX is available on PulseX. Price discovery begins.
DAY 22: The highest-sac address automatically gets 1% of all sacrificed PLS tokens before DAY 22.
2.4. Requirements
Users will need a computer or smartphone with an internet connection and a crypto software wallet (only recommendation: MetaMask.io) to receive, hold, send and manage REX, REX stakes and TREX.
On a computer, users will need a suitable browser (recommendation: Firefox or Chrome) to install the wallet there.
Users will also need to hold PLS tokens (Pulsechain native currency) in the wallet to execute functions (pay the blockchain transaction fees/"gas fees"). Go to pulsechain.com/buy to get PLS.
2.5. REX ecosystem
The REX smart contracts provide 4 different tokens: REX and TREX and WREX.
Note, that WREX is not active from the beginning, but from DAY 180.
REX is the main token.
It is fungible and not transferable (transferable with some restrictions).
The name is REX DeFi, the token symbol is REX, and decimals is 18.
The base unit is called PRINCE. 1 REX is composed of one quintillion (10^18) PRINCES.
Colloquially, REX on Pulsechain is also called "PLS-REX" or "pREX".
Core purpose
The core purpose of the REX token is staking to gain staking rewards.
In general, REX STAKING provides
- usual staking functions (locking up tokens to earn staking rewards),
- advanced staking functions (naming and transferring stakes, withdrawing staking rewards) and
- extended staking functions (offering/selling/buying stakes on the STAKE MARKET and
- boosted staking (more SHARES when using the booster token TREX when creating a stake).
-
protected staking (by restricting non-stakers)
BUY / SELL / Wallet Tx fee
There is a (very small) fee on buying/selling/transferring REX of 0.8% (burn).
The fees are designed to help against the overall inflation (from staking rewards).
Wrap REX
From REX DAY 180, it's possible to wrap REX into WREX.
3.1. REX transfer restrictions
REX is a pure staking token that benefits stakers in a closed ecosystem, and thus has restrictions implemented, that prevent from swing traders and bots taking profits that belong to the protocol users.
1) Users need to use staking or liquidity to earn a "sellable amount" to be able sell their REX tokens.
2) REX can only be transferred between an account and REX contracts (that use the REX token).
3) As a consequence, REX cannot be sent from an address to another address. (Yet, stakes can be sent.)
4) Contracts that are not in the REX ecosystem cannot interact with REX.
5) Users who provide liquidity to the REX-PLS pair earn the right to sell REX over time (a "sellable amount").
Technical implementation: The "sellableOf" variable
In addition to the balanceOf that tracks a user's token balance, REX introduces sellableOf that tracks the amount of tokens a user may sell.
Technically, "selling" REX is a transfer from the user's wallet to the PAIR contract - and the REX transfer function checks whether the sender/seller has both, enough balanceOf and enough sellableOf, for this transfer.
At the beginning, an account's sellableOf is zero.
The following interactions/functions will increase this sellable amount.
- Stakers may withdrawRewards() from active stakes or endStake() when a stake is mature.
- Liquidity providers earn a sellableOf amount and may claimSellableAmount() anytime.
More precisely:
Withdrawing staking rewards
When you withdraw staking rewards (REX tokens) from an active stake, you may sell all of those received REX tokens. Technically, your sellableOf is increased by 100% of the withdrawn tokens.
Ending a stake
When you end a mature stake, that was 500 days long (or longer), you may sell all of your staked tokens and staking rewards. When you staked shorter, you can just sell a percentage of the tokens and rewards:
- When you end a 500 days long (or longer) stake, your sellableOf will increase by 500 / 500 (100%) of the staked tokens and staking rewards.
- When you end a 250 days long stake, your sellableOf will increase by 250 / 500 (50%) of the staked tokens and staking rewards.
- When you end a 50 days long stake, your sellableOf will increase by 50 / 500 (10%) of the staked tokens and staking rewards.
Rewards from liquidity provision
Liquidity providers earn a sellableOf amount every fulfilled week (7 days), which is 1.4% of the provided REX tokens per week. This sellableOf amount must be actively claimed.
TREX BOOST: The rate can be boosted with staked TREX - to get up to 2% sellableOf of the given REX amount per week. Check the TREX section for details.
3.2. How to get REX
- Participate SAC PHASE (REX DAYS 1-28), then claim REX (REX DAYS 29-365).
- Swap PLS for REX (available from REX DAY 22)
3.3. REX token supply
REX is inflationary (3.69%/year), has no fixed supply and no pre-minted supply.
The supply will be created from
1) SAC PHASE (liquid REX mintable from REX DAY 29),
2) liquidity creation (liquid REX in the PAIR on PulseX).
The numbers depend on user participation and cannot be calculated before launch.
All current numbers appear on the blockchain (visible on blockchain explorers) and in the REX app.
Burn mechanism
But REX provides an automatic burn mechanism.
There is a (very small) fee on BUY / SELL / Wallet transactions: 0.8% fee (burn).
3.4. Supply inflation
The (allocated) supply of REX (circulating + staked REX) inflates at a constant rate of 3.69% per year. At the end of every day, the contract calculates how many new REX will need to be minted for that day in order to achieve that rate of inflation.
These new daily inflation REX tokens are not immediately minted. Instead, they are earmarked for distribution to all active stakes’ SHARES on that day. A fraction of this new REX is earmarked for each active stake in proportion to the stake's percentage of SHARES, with respect to the total SHARE pool that day.
Once a stake is closed or staking rewards are withdrawn, all earmarked tokens of the stake for all past days (until the desired withdrawal day, in case of a staking rewards withdrawal) are then minted to the staker at once.
Note: Although the contract tries to produce the number of new REX every day (for stakers) so that an inflation of 3.69% per year will be achieved, the actual inflation will be less than 3.69% per year, as the burn mechanism (from buying and selling REX tokens) will reduce the supply.
TREX is an optional fungible token for boosting user experience and user benefits.
The name is TREX, the token symbol is TREX, and decimals is 0.
Zero decimals means, there are no fractions of a TREX, just full TREXs.
Users may hold as many TREX as they like.
Supply: unknown
Max total supply: 2680 TREX
TREX STAKING
TREX can be staked.
TREX must be staked to grant TREX benefits.
Users may stake up to 5 TREX at a time (for max bonuses).
Staking TREX transfers it from the user's wallet to the TREX contract.
Unstaking TREX transfers it from the TREX contract back to the user's wallet.
Once a TREX is staked it cannot be unstaked for 30 days - but anytime after 30 days.
When an account has TREX staked already and then stakes more TREXs, all staked TREXs cannot be unstaked for 30 days from then on.
Staked TREX benefits
- STAKING: 25% more SHARES when creating a stake
- STAKE MARKET: No buyer fee (5% of a stake’s PLS price)
- NFT STAKING: 10% more "sellableOf" as rewards (1 TREX staked)
- NFT STAKING: 20% more "sellableOf" as rewards (2 TREX staked)
- NFT STAKING: 30% more "sellableOf" as rewards (3 TREX staked)
- NFT STAKING: 40% more "sellableOf" as rewards (4 TREX staked)
- NFT STAKING: 50% more "sellableOf" as rewards (5 TREX staked)
- LIQUIDITY PROVISION: 1.6% "sellableOf" as rewards (1 TREX staked)
- LIQUIDITY PROVISION: 1.8% "sellableOf" as rewards (2 TREX staked)
- LIQUIDITY PROVISION: 2.0% "sellableOf" as rewards (3 TREX staked)
How to get TREX
1. MINT: Users who have sacrificed TREX ("XTRX") on Smart Chain can just mint TREX on PulseChain into their wallets (like it had been bridged from BSC to PLS). Up to 2680 TREX are mintable that way (max total supply).
2. SWAP: Anybody may swap PLS for TREX (in the app or on PulseX).
The TREX PAIR will be available from DAY 0 - even before REX starts on DAY 1.
REX allows users to stake (time deposit) their REX, locking it up for a period of time in order to earn staking rewards and "sellable amount". Users may open as many stakes as they like. After a stake reaches full maturity the user may close it at any time to receive their full principal, plus staking rewards, without penalty.
REX never penalizes the principal of a mature stake, no matter how late it is eventually closed, but its earned staking rewards decrease after a 14-day grace period, which starts after a stake's maturity. The staking rewards are then cut by 1% per week as long as the stake is not closed. This allows users a lot of flexibility in planning, especially for taxable income purposes.
Staking strategies
As a staker, you may decide for one of the two strategies - or a mixture.
LADDER:
Create many STAKES with different durations (search term: "staking ladder"), so you'll have STAKES ending regularly, for example every month, for the next years. When they mature, you decide to sell or re-stake. Note: In REX, you can create a staking ladder with many STAKES in a single transaction.
WITHDRAW:
Create one big STAKE (or just a few STAKES) with very long durations (they earn higher rewards) and you withdraw rewards whenever you need them, over the years. Note: In REX, you may withdraw rewards as often as you like, even every day.
Both strategies may be used to create some sort of passive income model.
5.1. Opening a stake
When a user opens a new stake, they choose an amount of REX to stake, a stake length in days and the name of the stake. The minimum stake amount is 1 REX. The minimum stake length is 30 days, and the maximum stake length is 3653 days (approx. 10 years). The longer the duration of a stake, the more REX SHARES are received.
Once a stake is opened, it is in "pending" status. This means that the stake won't technically begin until the following REX DAY.
NOTE: It’s not possible to close a PENDING stake.
When a stake is opened, the REX tokens staked are burned by the REX contract and converted into SHARES. These SHARES exist for the life of the stake, provided no staking rewards are withdrawn before it matures. Once the stake is closed, the SHARES are deleted and REX is minted back to the user (with any staking rewards).
5.2. Shares and Staking Rewards
When opening a stake, the REX tokens are burned (and saved in the contract as the stake’s "principal") and SHARES are created. These SHARES represent the stake size and length.
Stakes earn staking rewards daily through the REX supply inflation. The REX supply inflates at 3.69% per year. This inflation is distributed daily to all active stakes, in proportion to their SHARES as compared to the total SHARE pool.
The more SHARES a stake has, the more staking rewards it will earn.
The amount of SHARES a newly opened stake gets is determined by
- the global SHARE PRICE tracked in the REX contract
- a percentage BONUS based on the length of the stake
Simplified, the formula is:
StakedRex / SharePrice * (100% + BONUS %)
Example:
A user stakes 1000 REX, the (initial) SHARE PRICE is 0.1 and the BONUS is 6% (60 days stake)
Inserted in above formula: 1000 / 0.1 * 106% = 10,600 SHARES
5.2.1. Bonus shares calculation
This is important for your staking strategy. Read carefully.
If you don't want to read the calculations: The number of SHARES you receive when creating a stake is exponential. A 10 years long stake will receive around 20x the SHARES compared to a very short stake - and thus earns much more staking rewards per day. If your strategy is to max out on SHARES, consider creating very long stakes. When creating a stake in the APP, it will show you the number of SHARES the stake will receive based on the staking duration - just play around with the numbers yourself.
Any stake created will receive a BONUS percentage, depending on the length of the stake.
The longer the stake, the higher the BONUS percentage.
Stakes up to 1 year
When creating a stake that is up to 365 days, the BONUS is 0.1% per day (linear).
Staking for 60 days receives 60*0.1% = 6% BONUS.
Staking for 365 days receives 365*0.1% = 36.5% BONUS.
Stakes up to 2 years
When creating a stake that is 366 to 730 days (1 to 2 years long stakes) the BONUS is 0.1% per day plus 0.1% per day (in the second year).
Staking for 395 days receives (395+30)*0.1% = 42.5% BONUS.
Staking for 730 days receives (730+365)*0.1% = 109.5% BONUS.
(At this point, compare the 1-year bonus of 36.5% to the 2-year bonus of 109.5%.)
Stakes up to 3 years
When creating a stake that is 731 to 1095 days (2 to 3 years long stakes) the BONUS is 0.1% per day plus 0.1% per day (in the second and third year) plus 0.1% per day (in the third year).
Staking for 760 days receives (760+395+30)*0.1% = 118.5% BONUS.
Staking for 1095 days receives (1095+730+365)*0.1% = 219% BONUS.
(At this point, compare the 2-year bonus of 109.5% to the 3-year bonus of 219%.)
Long stakes > 3 years
The above model repeats for every full year. Here are more examples.
1460 days (4 years): (1460+1095+730+365)*0.1% = 365% BONUS.
1825 days (5 years): (1825+1460+1095+730+365)*0.1% = 547.5% BONUS.
2190 days (6 years): (2190 + 5 years sum)*0.1% = 766.5% BONUS.
2555 days (7 years): (2555 + 6 years sum)*0.1% = 1022% BONUS.
2920 days (8 years): (2920 + 7 years sum)*0.1% = 1314% BONUS.
3285 days (9 years): (3285 + 8 years sum)*0.1% = 1642.5% BONUS.
3653 days (10 years, max) : (3653 + 9 years sum)*0.1% = 2010.8% BONUS.
The APP will help you.
When creating a STAKE in the STAKING section in the APP, you will see how many SHARES the STAKE will receive, based on the staking duration you have entered. Feel free to play around with the numbers.
5.2.2. Share price
The SHARE PRICE starts at a predetermined value of 0.1 REX/SHARE. Whenever any stake is closed, the contract calculates a ratio of that stake's total return (principal + staking rewards) to its SHARES. If this ratio is greater than the current SHARE PRICE, then the SHARE PRICE is immediately set to this new, increased value. The rise of the price is capped at +5%.
The SHARE PRICE can only increase over time, albeit fairly slowly. This ensures that earlier stakes get more SHARES than later stakes using the same amount of REX. This mechanism for increasing SHARE PRICE also prevents users from being able to compound their staking rewards with a sequence of smaller stakes in order to try and outperform a single long stake of the same size.
TREX BOOST
At least 1 TREX staked gets a discount of 20% on the share price, resulting in 25% more shares compared to a stake made without a TREX staked.
5.3. Withdrawing Staking Rewards
The user may withdraw already earned staking rewards from an active stake before the stake fully matures.
The user may choose how many days' worth of staking rewards they wish to withdraw, up to the maximum available (= all past days).
Withdrawing staking rewards from an active stake may be done multiple times over the course of the stake.
Withdrawing staking rewards is possible, when the stake has been active for 4 weeks.
When a stake is closed, whether active or mature, the staking rewards minted back to the user only include rewards that haven't already been withdrawn.
Withdrawing rewards will not affect the stake's principal, but will reduce the number of SHARES the stake has going forward. This effectively means that the stake will earn less rewards on the current day (the day the rewards have been withdrawn) and on all future days of the stake than it otherwise would have. This SHARE reduction prevents users from being able to end up with more overall SHARES if they choose to immediately re-stake their withdrawn rewards.
When you withdraw staking rewards (REX tokens) from an active stake, you may sell all of those received REX tokens. Technically, your sellableOf is increased by 100% of the withdrawn tokens.
5.4. Closing a Stake
Stakes cannot be ended early. A user may only close a stake when it is mature.
When closing a stake, the stake SHARES are destroyed.
The entire stake principal (staked REX tokens) and all REX token rewards accumulated are minted to the user.
If the stake is closed later than 14 days after maturity, the REX token rewards are penalized by 1% per week thereafter. (The stake principal will never be penalized.)
The "500 days" rule
When you end a mature stake, that was 500 days long (or longer), you may sell all of your staked tokens and staking rewards - the sellableOf will be increased by 100% of the principal and rewards.
When you staked shorter, the sellableOf will only be increased by the percentage, in relation to the 500 days:
- When you end a 500 days long (or longer) stake, your sellableOf will increase by 500 / 500 (100%) of the staked tokens and staking rewards.
- When you end a 250 days long stake, your sellableOf will increase by 250 / 500 (50%) of the staked tokens and staking rewards.
- When you end a 50 days long stake, your sellableOf will increase by 50 / 500 (10%) of the staked tokens and staking rewards.
5.5. Transferring a stake
A user may transfer an active stake to another address, without any restrictions.
5.6. Renaming a stake
The user may rename an active stake, which is effectively changing its "description."
5.7. Buying and selling a stake
REX provides its own native decentralized exchange ("DEX") for stakes, called the STAKE MARKET, where users may offer their stakes for sale.
When offering a stake, the user must set a desired price (in PLS, minimum is 100,000 PLS). The offer will be active (and buyable) for 14 days, and the scheduled end of the offer must be before the stake’s maturity date. A stake must have fulfilled at least 10% of the staking duration to be offered.
A staker can only offer one of his stakes at a time, because trading stakes a lot is not the purpose here.
Offering a stake will list the stake on the STAKE MARKET and set the offered stake inactive, so the user can’t transfer, rename or end the stake, nor withdraw staking rewards during the time of the offering. The offered stake will be buyable by other users until the offer has expired after 14 days or the user has revoked it. A stake offer may be revoked by the seller anytime within the offer duration, unless a buyer has bought it.
If the offered stake isn’t sold before expiry, the seller must actively revoke the offer to reactivate it.
Successfully buying a stake creates for the buyer a new active stake with the exact properties of the offered stake, with the description set to "Bought on MARKET" and closes the offered stake of the seller.
Fee
Buying a stake incurs a fee of 5% of the stake’s PLS price for the buyer (Fee usage: buy REX to increase the REX price, and send the REX to the NFT STAKING contract).
TREX BOOST: If the buyer has (at least) 1 staked TREX, the fee will not be charged.
Availability
Stake offers may be submitted from REX DAY 30 (DEX activation day).
The LIQUIDITY contract allows REX holders to send REX and PLS into the REX-PLS PAIR to become a liquidity provider. The provided REX and PLS will have to be corresponding to the current pair reserves.
Learn about adding liquidity to AMM/pairs and "permanent loss in automated market makers", if you haven't yet.
Liquidity providers receive a portion of the trading fees, as designed in the AMM itself.
This contract uses the standard AMM contracts of the "PulseXRouter02".
Minimum PLS amount
A liquidity provider (LP) has to send 1,000,000 PLS, at least - plus the corresponding amount of REX.
Once an LP has provided liquidity via this contract, they cannot "add more" liquidity to the position.
Minimum time
A liquidity provider is able to withdraw liquidity after 12 weeks (after the last time of adding liquidity).
Rewards
An LP receives 1.4% of the provided REX credited as sellableOf amount for every fulfilled week since LP provision.
TREX rewards boosts:
- 1 TREX staked: 1.6% of the provided REX credited as sellableOf amount
- 2 TREX staked: 1.8% of the provided REX credited as sellableOf amount
- 3 TREX staked: 2.0% of the provided REX credited as sellableOf amount
If a liquidity provider stakes (or unstakes) a TREX, the claimable sellableOf amount will be claimed automatically and the timer will be reset (as if it was a new liquidity provision) - it's 12 weeks minimum provision again and the next claimable amounts will be claimable in 7 days. From then on, there will be higher (or lower) rewards, depending on the new amount of TREX staked.
This sellableOf amount must be claimed actively, and it may be claimed anytime, as soon as available, which is every 7 fulfilled days since LP provision.
TECH
When a user "provides liquidity", they make this contract transfer the desired amount of REX and PLS from the user's wallet to the LIQUIDITY contract and forwards (transfers) it to the PAIR contract, and the PAIR contract will send (mint) LP_TOKENS back to the LIQUIDITY contract - to recognize that it (i.e. the user) has a portion of the liquidity in the pair.
Wrapped REX ("WREX") is a token implementation that gets unlocked on REX DAY 180, automatically.
It offers users a (wrapped) REX, that can be listed on CEXs and DEXs and is fully tradable and transferable and can be used by external contracts - without harming the closed REX ecosystem itself.
As soon as unlocked, users may wrap REX + sellableOf into WREX.
Example: If an account has 1000 REX tokens and 1000 "sellableOf", it can convert it to 1000 WREX.
Doing this conversion / wrapping, the user's REX are burned and the user's sellableOf is decreased.
The contract saves the sellableOf amount in a sellableReserve for the account, so that this account may convert back (unwrap) the WREX later, receiving back the sellableOf.
Effect: An account that gets itself some WREX (on a DEX or CEX) and unwraps it to REX (and has no sellableReserve), will receive REX but no sellableOf, so that this account couldn't sell the REX received, but has to use the protocol to earn a sellableOf amount. This results in an effective protection of the REX ecosystem (and the original REX price), and also enables trading WREX (in the form of the "open" WREX ERC-20).
Find all safe REX links in the linktr.ee/rextoken.
Visit the REX YouTube channel to learn about the basics and details.
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.
Risk warning
Trading cryptocurrencies involves significant risk and can result in your capital loss.
You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, and purchase objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use cryptocurrencies based on the legal requirements in your country of residence. Purchasing crypto assets are not covered by the Financial Ombudsman Service or subject to protection under the Financial Services Compensation Scheme. Please read the security information.
Blockchains, smart contracts, and cryptocurrencies are cutting edge technologies and there is a risk of total failure. Software is hard. Computers are hard. Distributed software on distributed computers is harder. It's a miracle this stuff works at all. Strong cryptography seems unlikely to be broken, but if it is, everything will probably be broken.
Volatility
Cryptocurrencies are extremely volatile. Bitcoin went from a penny to $32, then it crashed 94% to $2. Then it went from $2 to $270 then crashed 81%. Then it went from $51 to $1200 then crashed 86%. Then it went from $164 to $20,000, then crashed 84%. Then it went from $3,150 to $14,000 and crashed 72%. And that's the most liquid, oldest cryptocurrency in the world. Nearly every crypto currency drops 85% to 95% at some point. Some get back up and make new all time highs.
"REX" Smart Contracts
"REX" is the name of a public and fully decentralized software running on a blockchain, that consists of a set of smart contracts, as described in its technical description, the whitepaper. The software is immutable and will continue running on the blockchain, as long as the blockchain exists. The software does not have an owner or admin. The software is not more than immutable compiled bytecode sitting on a blockchain, that can do nothing on its own but sit there. People can run the code if they want to, or not. The source code of the software was written by "Thomas Rex", who chose to remain anonymous. The source code has been fully published so that everyone can read, understand, analyze and test it themselves. There is no such thing as 100% certainty that the blockchain and smart contracts will work flawlessly forever.
"REX" is not a legal entity, a company, enterprise, institution or other organization.
Consequently, there are no managers, no employees and no authorized representatives. Accordingly, any person who does anything related to “REX”, such as talking about, discussing, promoting, creating videos, posts or other content about REX, does not represent “REX” but rather expresses their own personal views.
If you've read this far, congratulations. You will notice the theme of all of the above text is that you should have absolutely no expectations of any sort regarding anything, and if anything goes wrong, you shouldn't look for redress anywhere, and you should receive none. Software is hard. Blockchain software is harder. We're lucky any of this stuff works at all.