Today there was an update in the RFOX token model and they released their Black paper (black because they prefer that to white)
https://docsend.com/view/a2kfkrmgcmwvs2rq
For those that do not know RFOX labs are the creators of KOGS, one of the more successful NFT projects of 2020.
the website can be found :
https://redfoxlabs.io/
So here are the key take-aways for those who are too lazy to read the 29 pages.
Token:
- team reducing their holdings by 75% to 12.5% of total supply and will re-lock it
- Tokens will be minted to ERC20 at a 10 to 1 ratio
So this is the good redfox news:
Each of us will own 2.5x more of the total tokens after the swap. That is an incredibly generous gesture from the team. Those tokens were partly theirs but they've decided to effectively give all that value to the community since they have faith that the part they are keeping will appreciate massively in the future.
The token was tradable on Liquid and P2PB2B but as of today 0ct 12th everything has been frozen and the snapshot has been taken.
The swap will take place on the 25th of the month. Automatically if you have your tokens on the exchange or you can use the veris wallet that will provide a swap option as well.
Do not buy any RFOX otc
Do not buy any RFOX until the 25th
Follow the youtube channel for more updates and check out the latest announcement
This is a promising project imo but that is just my opinion after all.