You may know us as Southeast Asia’s first blockchain venture builder. But what you may not know is that the latest cryptocurrency exchange to add our $RFOX coin — Zaddex — is a product of our business model. Yes, our friends, we successfully launched a blockchain venture! And we’ve got some details on how the exchange fits into the overall RedFOX ecosystem.
You see, RedFOX Labs owns half of Zaddex. But at the same time, perhaps counterintuitively for some, we don’t handle the day-to-day business operations. Because building business ventures — not running them — exemplifies our blockchain-powered concept.
Let’s take a quick trip down RFOX memory lane and share a bit of history on how Zaddex came to fruition.
The RedFOX Labs D.B.O.T.
Because everyone needs more acronyms in their life, we have one for you. As a blockchain venture builder, we launch products and companies. But before we even reach the creation phase, plenty of brainstorming takes place.
Before we launch a product or venture, as explained in our blackpaper, it must fit into the RedFOX methodology of Design, Build, Operate, Transfer.
In the months leading up to Nov. 2018, we identified a cryptocurrency exchange as a viable product aligning with our business model. Putting the idea in motion meant assembling a team of local experts.
Once we identified a group of individuals capable of operating the business, we joined forces to get everything in place. In late November of last year, we offered a sneak peek at our then-unreleased crypto exchange.
We then spent the next few months working alongside the Zaddex team in preparation for public testing.
From Feb. to March 2019, we used feedback from the community to refine our offering. As with every product we launch, we analyzed what worked and what didn’t, then made upgrades accordingly.
We never leave the burden of an unfinished or unsupported product with our business partners.
In March 2019, RedFOX Labs facilitated a partnership between Zaddex and blockchain banking project, Ø Crypto Union.
We dream it up, we help build it, we help refine it, then we hand it off.
Now that our first venture is in good hands, we’re moving on to the next one.
And in case you haven’t already seen this video over on our Telegram announcements channel, here’s our CEO divulging details on Zaddex as well as RedFOX at large:
As you now know, the current state of Zaddex.io is vastly different than what’s to come. We’ll share further updates as they become available!
By launching the Zaddex exchange, we’ve proven that we can achieve success in our role as a blockchain venture builder.
Not many projects in the blockchain space can say that their coin is trading on an exchange under their ownership. And we’re certainly proud of hitting that milestone before our project’s 1st anniversary!
And, once again, we’d like to thank you as a valuable member of the RedFOX Labs community. We’re on this journey together, and we’re not building blockchain ventures for ourselves.
We operate as a blockchain venture builder, but one critical component of our model is putting the customer first. We don’t build ventures just because we can. Instead, we make them if — and only if — we can solve a real-world problem by applying blockchain tech.
Zaddex operates a bit different than competitors in the crypto industry. For starters, the exchange simultaneously captures the benefits of centralization and decentralization.
A future article that dives deeper into what Zaddex offers is under development. In the meantime, you can sign up for a free Zaddex account to try our first product for yourself. We think you’ll enjoy it!