Article Summary, Automatically Generated By AI
Summary of RFOX Finance
- RedFOX Labs has been building ventures since 2018 that leverage blockchain technologies for digital inclusion.
- RFOX Finance is a protocol under RedFOX Labs, which will be part of the interoperable virtual world, RFOX VALT.
- RFOX Finance was launched as a launchpad for the $VFOX token, giving holders a share of transactions in RFOX VALT.
- The $RFOX token will be the universal currency for the virtual ecosystem.
- RFOX Finance forked Pancakeswap and deployed token and farming contracts to Binance Smart Chain on May 10th.
- Audits were conducted by Hacken prior to launch.
- Initial liquidity was provided by
About RFOX Finance
Introducing RFOX Finance, a cutting-edge decentralized finance (DeFi) ecosystem designed to revolutionize the way people interact with digital assets.
Since 2018, RedFOX Labs has been pioneering ventures that harness the power of blockchain technologies to augment existing business models, thereby fostering digital inclusion. The RFOX Finance protocol represents a key pillar of RedFOX Labs’ innovative endeavors.
RedFOX Labs’ diverse portfolio of ventures, comprising RFOX Games, KOGS, NFT Marketplace, RFOX Media, RFOX Streaming Platform, and MyMedia, will converge to form an interoperable virtual world: the RFOX VALT.
RFOX Finance was unveiled as a launchpad for the $VFOX token, thereby granting holders a stake in all transactions that will be facilitated by the RFOX VALT. The $RFOX token is poised to become the universal medium of exchange within this virtual ecosystem, with all payments being settled in $RFOX, accompanied by optional fiat off-ramping solutions.
On Monday, 10th May, RFOX Finance successfully forked Pancakeswap, launching and deploying token and farming contracts on the Binance Smart Chain. Notably, prior to the launch, Hacken conducted rigorous audits on the farm, auto-claim, 3rd party bridge, and token contracts, ensuring a secure and reliable deployment.
The auto-claim contract is worthy of note. Initially, RedFOX Labs provided the liquidity, and the resulting LP tokens were subsequently staked in the farm. Notably, every time a farmer harvests their $VFOX, the auto-claim contract simultaneously harvests the farm from the initial liquidity, which is then swapped for $RFOX and set aside for the weekly burn parties.
Forthcoming announcements will unveil an array of innovative DeFi products and services, poised to revolutionize the financial landscape.