Vietnam-based RedFOX Labs has launched on Binance Smart Chain, bringing its DeFi farming, staking and $VFOX to millions of new users.
SINGAPORE, May 25, 2021 (GLOBE NEWSWIRE) — Following months of hard work from the team at RedFOX Labs the RFOX.Finance protocol has finally entered the BSC ecosystem, promising to revolutionize the way users interact with the project.
Open for Business
The launch on BSC means holders of $VFOX, the platform’s native token, will now be able to distribute the token quickly and easily, and that token holders can now participate in farming and staking the token, although this is not mandatory.
All holders of $VFOX will be eligible for rewards generated from RedFOX Lab’s new RVOX VALT project.
Binance Smart Chain ecosystem projects have exceeded a total value locked of over USD $50 billion. RedFOX Labs has recognized the growth potential in this ecosystem and has completed the launch of their own DeFi products.
Security is a Priority
To support the move and to examine the project’s token, farming and smart contracts before deployment, the team enlisted the help of external audit experts Hacken.
There will still be the opportunity to purchase $VFOX outright on both PancakeSwap and through RFOX.finance. Two weeks after launch, the option of staking $RFOX and $VFOX in single asset pools to earn $VFOX, will also be made available.
Further, RedFOX Labs will harvest $VFOX earned from the initial liquidity they provide to convert back to $RFOX and burn from the circulating supply.
The move to launch RFOX.finance is another step toward RedFOX Labs reaching its goal of being the premier ecosystem builder in the Southeast Asian region and will play a pivotal role in driving utility and value for the $RFOX token.
For more information about RFOX Finance, please visit https://docs.rfox.finance.
About RedFOX Labs
RedFOX Labs is a venture builder based in Vietnam, that identifies and builds successful business models for the Southeast Asian markets. It is focused on unlocking the true market value of the Southeast Asian digital economy for high consumer demand services such as e-commerce, e-media, e-travel, and esports/gaming and focuses on adding value to the digital economy through the use of emerging technologies such as blockchain. As a company, its value is tradable through its native token ($RFOX).
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