While Taking the Long View
Here at RedFOX headquarters, like most of the world’s citizens, we’re still in quarantine. We hope you continue to remain safe!
Times are surreal, and it feels as if we’re living through a global, slow-motion riot. However, although things may never be the same as they once were, it’s critical to stay optimistic about the future.
In that vein, we’re ready to share some fresh project info. Now, you may be wondering why it’s been so long since our CEO’s last update video. Although the reasons are numerous, our primary logic boils down to two words: internal debates.
In other words, plenty of deliberations took place before we made important decisions. We’ve always taken a long-term approach to the creation of value within our products, services, ventures, and our network’s digital assets. We also consider the impact on our community before making any meaningful changes.
While some won’t agree with all of our recent developments, that’s a natural byproduct of any significant decision. After all, you know what they say about pleasing all of the people all of the time… can’t be done!
And now that we’ve made some tough choices, we’re sharing them with you. But before we get to the video, here’s a quick rundown of the major updates you’ll see:
RFOX Wallet Ready for Audit
You may have been awaiting this release for quite some time. And so have we! But first, we’re ensuring its security by pushing it through a 3rd-party audit.
Special thanks to Komodo Platform — especially ca333 — for helping us get our wallet to the final phase before public release!
KOGS Gameplay Video in Editing Phase
If you caught the RedFOX Labs Q1 2020 update, you’re aware of how much time and attention we’re currently devoting to the world’s first all-blockchain mobile game.
A gameplay video is nearly complete, which will offer fantastic insights into what you can expect upon the game’s release.
Also, new blockchain gaming advisors are now part of the KOGS ecosystem to help us with monetization and go-to-market strategies.
Cashback & eCommerce Streaming App Complete
The development of our cashback and rewards app is now behind us. However, merchant integration is still on the to-do list.
Since Myanmar is much different than the other Southeast Asian countries we’re targeting — Vietnam and the Philippines — things move slower compared to elsewhere.
The global pandemic is creating a slowdown on the app front. Nonetheless, we’re still plugging away — especially considering the recent boom in online shopping.
RFOX Airdrop Replaced by Massive Burn
Rather than drop hundreds of millions of coins into an illiquid market, we’re conducting our 2nd major coin burn. Upon completion, our entire supply of RFOX coins will drop by 50%.
Although we began the project with a goal of 1B total coins, the capped RFOX supply will soon drop to 500M.
The primary reasoning behind offering an airdrop in the first place is to benefit those holding our coins. And no matter how many coins you now have, they equate to a certain percentage of the overall supply.
After the burn, whatever overall percentage you hold will effectively double. Again, we’re looking after the long-term proposition of our native cryptoasset.
And on that note, we’ve even more news to share on how KOGS helps drive RFOX liquidity. What is it? Here, we’ll let Benny tell you:
We hope that after watching the video, you’re even more excited about the pending release of KOGS!
These are tumultuous times, no doubt. But RedFOX isn’t straying from our vision of using emerging technology to create user-friendly products and services.
You now know that the KOGS ecosystem and RFOX coin metrics are tightly intertwined. And let’s not forget that because we run a Komodo Smart Chain, we can seamlessly burn/convert additional RFOX into future products.
Although today’s economic outlook is grim, we continue to prepare for what’s to come once the dust settles. After all, 2008’s financial crisis triggered the longest stock market bull run in history.
But the whole world just witnessed how quickly things can change.
We’re still here in our Vietnam headquarters, seizing opportunities to disrupt traditional markets — which are now extremely unsettled. Only time can tell anybody what’s in store for post-virus markets.
In the meantime, let’s all stay safe and sane within the claustrophobic wilderness of social distancing and self-isolation!
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