RFOX rfox

RedFOX Labs (RedFOX, the Team) is a venture builder based in Vietnam, creating innovative blockchain solutions in Southeast Asia’s emerging markets. It focuses on applying blockchain and other emerging technologies to high-consumer demand services such as e-commerce, NFTs, gaming, ride-sharing and esports. Simply, they have multiple different divisions, with each venture they create under the RedFOX umbrella, hiring specialists to lead the venture once it’s established to build it further.

RedFOX was founded in 2018 and went live on the Komodo blockchain in Apr. 2019, until migrating to Ethereum in Oct. 2020.

RedFOX’s native token is RFOX. ~1.35B RFOX are currently in circulation and the maximum supply is 2B. An ERC-20 token, RFOX is designed to be the medium of exchange of RedFOX’s venture ecosystem. Specifically, RFOX can be used for:

• Powering the economy within their virtual world. The Team have said there will be fiat on-ramps and accept most major currencies in the virtual world—but fees, rent, commissions will settle through RedFOX’s second layer.
• Main form of payment for KOGs collector packs, trading fees, merchandise, and act as rewards for set holders and tournament participants.
• The main currency as the Team builds companies and products on multiple chains. (This would most likely take the form of a wrapped version of RFOX.)
• The generation of new tokens for each project will be extracted from the main RFOX supply.
• Potential to back stablecoins. The team teased “RFOX may choose to create stablecoins or currencies that are backed by RFOX tokens. These tokens will be taken out of circulating supply and give the stablecoin backing.”

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