RFOX Finance FAQ
$RFOX can be purchased from KuCoin, Bittrex, Liquid, CoinSpot, and Gate centralized exchanges. $RFOX tokens are also available to swap on Loopring and Uniswap decentralized exchanges. $RFOX will also be available to purchase from the Binance Smart Chain through the RFOX-BNB pool.
$RFOX tokens can be stored on the ETH or BSC blockchain. At this stage, $VFOX will only be stored on the Binance Smart Chain. Web 3.0 DApps such as Trust and MetaMask Wallets protect your private keys to access your holdings on the blockchain.
Farming of RFOX-VFOX will take place in farms on RFOX Finance. Following the launch of VFOX farms you will also be able to purchase BEP-20 RFOX and $VFOX tokens directly through RFOX Finance and PancakeSwap on Binance Smart Chain.
Through a Bridge we can change our ERC-20 tokens into BEP-20 compatible tokens to interact with BSC. $ETH will be required in our wallets to pay for gas fees to bridge $RFOX from ETH Mainnet, $BNB will be required to pay gas to complete the conversion.
When supplying liquidity, be mindful of Impermanent Loss. We again urge you to understand by taking the time to research to fully understand the mechanics and how the quantity of what you initially supplied may change over time. Simply put, given we provide both sides of the liquidity pairing at a 1:1 ratio based on market value, the quantity of either side will change with price movements and total value locked in each asset to maintain that ratio.
Rewards will start at 5 million VFOX being distributed to farmers in the first week. Approximately 28,880 blocks are validated on BSC per day. We can predict approximately 24.20 VFOX to be distributed to all stakers and farmers per block in the first week. $VFOX will appear for harvest in real-time every 5-10 seconds, give or take. The next week, total rewards will drop to 4 million, 19.78 VFOX per block. This will steadily drop each week until all 19 million $VFOX have been released into circulation.
VFOX Farming will last for several months. VFOX farming is only the beginning. RFOX Finance does not end when staking and farming for $VFOX concludes.
RFOX Finance is not in the business of making price predictions. However, there are some farm mechanics to be mindful of.
Every time you click harvest, we will automatically harvest $VFOX too. From here, we will trade it back into the liquidity pool and remove $RFOX out to send to a burn contract, forever removing it from circulation. There is incentive to hold $VFOX to receive a share of 1% of all transactions that go through RFOX VALT. $RFOX will serve as a universal currency for this ecosystem. There will be additional bonuses through the shop and land sales.
RFOX Finance will be the place to go to farm RFOX-VFOX and stake $RFOX in pools to receive distribution of the $VFOX token based on your share of the total pool. To purchase, users will be able to use the exchange function to remove $VFOX from total liquidity by swapping $RFOX in.
To ensure you are not trading fake tokens, please double-check the following token contract addresses in your bscscan. You can paste your wallet address into the search bar to see your token holdings.
$VFOX: 0x4d61577d8fd2208a0afb814ea089fdeae19ed202 $RFOX: 0x0a3a21356793b49154fd3bbe91cbc2a16c0457f5
The bridge goes both ways. We are not required to, but you have the option to swap your $RFOX back to the ERC-20 standard through the bridge.
ERC-20 is compatible with the Ethereum Public Chain. BEP-20 is compatible with the Binance Smart Chain (BSC). Both exist within the Ethereum Virtual Machine as two distinct blockchains that can be linked to the same public address. Both blockchains have similar token standards, this is what makes them easier to bridge across. But to have utility on either network they must follow the contract standard for the blockchain they interact with.
This is not a token migration, $RFOX is purposed to be blockchain agnostic and will circulate on ETH and BSC.
VFOX rewards will be divided by your % share of the total liquidity pool (LP). E.g. If you supplied 1% in the LP and 24.20 $VFOX were distributed with every block created, you would receive 0.24VFOX (every 3 - 5 seconds). As more people jump into the LP you would get less of the harvest as your share of the total LP would be diluted. If you had 1% share of LP between two wallets you would get 0.24VFOX per block between the two wallets based on their share of the LP.
If you have had experience with Pancakeswap it is effectively the same thing that we are doing. Rewards will generate in real-time after each block is created on the Binance Smart Chain. You can see your total harvest adjust accordingly and harvest at any time.
But good point to raise, it is definitely worth highlighting that from providing liquidity you get a share of swap fees based on the % you have provided to the total LP. When you're farming, you're just taking the LP token (receipt that you provided liquidity) to stake it in the farm for the $VFOX rewards.
For pool staking, that will just be a matter of single staking your tokens into the pools and the same distribution principles apply - granted it is a far reduced allocation of $VFOX through this means but you don't risk impermanent loss.
VFOX Farming will be live for 5 months from the time RFOX Finance launches and will conclude in late September. The first payout from the RFOX VALT is not anticipated to undergo distribution until October. When claiming VFOX, there will be a tiny transaction fee (almost like a subscription) and a lock-away period against the token.
No lock-up period. RFOX, VFOX and LP tokens staked in pools can be withdrawn at any time.
RFOX DEX gives us a platform to launch the $VFOX token. There is a lot of adoption and innovation taking place on Binance Smart Chain. With a DEX, we can deploy our own farm and pool contracts that reward stakers with $VFOX tokens. Based on the rising volume of liquidity and low fees on Binance Smart Chain $RFOX can reach wider audiences. Further having a DEX gives us a platform to explore innovative DeFi products going forward.
Check through the Binance Smart Chain network setup guide for Metamask. If you are using the DApp through Trust Wallet, be sure you have switched networks from default (Ethereum) to Binance Smart Chain.
If you are using a hardware device, ensure you have gone into the settings on the Ethereum app on the device to change Contract Data from 'Not Allowed' to 'Allowed'. This will allow your hardware wallet to interact with smart contracts.
If problem persists for Metamask, double-check the network settings are correct and check the steps outlined in the tutorial.
Yes. Miners prioritize transactions on the network based on the highest fees for each broadcast. Frontrunning is always a possibility but with the fast block times on Binance Smart Chain this is unlikely to be an issue.
If there is significant demand and price changes are cancelling transactions you can increase your slippage on the DEX. This is only recommended for those that understand and accept the price discrepancies that come with high slippage.