On June 22 of this year — a virtual eternity ago in the blockchain industry — our project celebrated its chain’s first birthday. And since then, a lot of activity occurred here at RedFOX headquarters.
Now, we typically leave a brick on the gas pedal as we build blockchain ventures. But today, we’re slowing down and checking the mirror to see how far we’ve come. Yes, friends, we’re racing down memory lane, and you’re invited to ride in the front seat.
But before we buckle up, let’s watch this short video together to remind us of how our mutual love for blockchain is spreading across the world:
Birthday celebrations have their time and place, no doubt. But our blockchain network’s first anniversary inspired us to drive a little faster. For the team, it wasn’t time to celebrate. Instead, it was time to duplicate — unicorn business models, that is.
Okay, the engine’s running, the top’s down, and the music’s up. Hop in!
Building Blockchain Ventures
Every long journey begins with the first mile. And our first blockchain venture — Zaddex exchange — is an exciting proof of concept. Per our business model — design, build, operate, transfer — we built a product alongside a team of experts before handing them the keys.
Now that our first blockchain-enabled product is up and running, the next won’t be as daunting. We’ve proven to you — and ourselves — that we can deliver user-friendly services.
Upgrading Blockchain Gaming
Komodo Platform is an integral component within the RedFOX ecosystem. With their team helping us experiment with non-fungible tokens (NFTs), we’re doing things never done before. In other words, our upcoming, 100% on-chain videogame is an industry first.
Before our first of many birthdays to come, we partnered up with cybersecurity experts — Hacken — to keep bad actors out of our products and services. We don’t publish code until Hacken verifies that it’s bulletproof.
Fueling the Community
Soon after, RedFOX joined forces with blockchain project — Electra — to develop new market opportunities. As an established player in the peer-to-peer digital payments industry, Electra is working alongside RedROFX as drivers of blockchain adoption.
Rewarding Road Ahead
Our project’s most recent collaboration is with one of Myanmar’s most successful media companies, aptly titled MYMEDIA. The organization’s social reach climbs higher than 11M followers. And as you read this, we’re working together to give the cashback and rewards industry a blockchain-powered overhaul.
Community engagement is a crucial element of our organization’s culture. For example, at the request of our supporters, you can now find our team on Discord.
And in July, we ran our very first giveaway. While they didn’t come off our proverbial backs, we gave RedFOX Labs t-shirts to five lucky Twitter followers. Plus, our very own Arclegger drove a couple of hours north to deliver a shirt in person!
RFOX Traders Get Pole Position
Shortly after the launch of Zaddex, we intended to dish out some extra RFOX to the exchange’s most active users. To stimulate trading activity on our first blockchain venture, we hosted a competition that spread 100,000 RFOX coins across wallets of the top five traders.
Bridges to Liquidity
Getting listed on major cryptocurrency exchanges is serious business. The process is tedious, expensive, and fraught with scammers posing as exchange employees.
RFOX coin currently trades on a handful of exchanges, including our very own Zaddex. That said, one of the exchanges we’re most proud to call home is Liquid. As it turns out, they share the same sentiment. Early last month, Liquid included RedFOX Labs in its list of 2019’s most promising blockchain projects.
Driving blockchain adoption requires the occasional departure from RedFOX headquarters. Early July saw a few of our team members enjoy the Wild Digital Conference in Kuala Lumpur, Malaysia. Our goal was to gain industry insight while at the same time forging new business connections.
And in the last event RedFOX attended — BitMart’s Block Plus Summit — our CEO had an opportunity to shine a spotlight on our project. More specifically, Ben divulged details of our upcoming cashback and rewards platform.
Coins in the Combustion Chamber
Last, but certainly not least, is our recent coin-melting event. Just yesterday, we shed over 20% of our native cryptocurrency’s circulating supply. Blockchain project aggregator site — CoinMarketCap — now displays the current total, which is 20M coins lighter than before.
The coins are now tucked away in a deposit-only address. Here’s a link to the proof-of-burn: RFOX Blockchain Explorer. Did you happen to notice the fee for that transaction? We transmitted 20,000,000 coins — equivalent to roughly $400,000 at the time — for a total of 0.0001 RFOX.
That’s less than one cent (!) in fees. Try doing that at your brick-and-mortar financial institution. Good luck!
And, we intend to fry even more coins over the next few months. Because Komodo Platform’s Antara Framework enables cross-chain interoperability, we’re kickstarting our cashback and rewards platform with another 15M RFOX.
The past three months have been a whirlwind of activity. Moreover, time seemed to warp as if existing in a vacuum. In other words, it’s hard to believe that our network’s first birthday occurred over the summer.
You see, the days tend to melt together when you’re head-down in your work. But on occasion, it’s important to pause and reflect. And while there’s much, much more in the works, we’re very proud of our recent accomplishments.
For the team here at RedFOX Labs, Q3 2019 was a thrilling ride. And best of all, we got to enjoy it with you, our beloved community. Thank you for sharing this adventure with us!
We’ll see you back here soon as we share news of our long, winding journey on the road to blockchain adoption.