Create passive income with the REX Token — GETTING STARTED
CREATE PASSIVE INCOME WITH REX — GETTING STARTED
In this REX TALKS interview held on October 4th, 2022, Thomas, the creator of the REX protocol, shares the reasons why he created the REX protocol, and ideas on how to get the most out of it.
Useful links: Website: https://rex.io REX links: https://linktr.ee/rextoken Worldwide Communities: https://linktr.ee/rexcommunity News: https://twitter.com/rex_token Telegram: https://t.me/newrextoken
Since this is a transcript of human speech, typographical errors are common! We have done our best to fix them, but please don’t hesitate to let us know in the comments below or in the telegram chat and we’ll correct them!
Watch the original stream here
Welcome everyone to today’s stream. We will be joining a talk by the creator of Rex in just a few moments. Thank you for your patience.
So there is this Rex shill group. I think it’s pinned in the Rex Promotions Group, but the name of it is Yeah, I think it’s Rex’s shill team or something like that. And they give quite precise instructions on what to do. You can just follow the group and you will see all the new tweets that the people do because basically they tweet, they comment, they like, and then they share that in the shill group.
And you get a Rex background, they will make a cool design for you. And you just start sharing the content and the other Rexicans will follow you as well. So this is getting quite a movement in the situation, so that you have several followers quite immediately. And all you have to do is just retweet and and The best thing would be you also go to other conversations about staking tokens, like other protocols or people talking about passive income and maybe yeah, shill it.
Just inform them that there’s something like REX on Binance Smart Chain and link the cool videos that we have so people get an impression of how professional this project is. Yes, and just connect to other people and inform them about the project. Create some awareness and use the hashtags.
That’s quite simple for everybody to do. Just be online for a minute to five per day and just share some of the content there that is very effective. And this basically made us trending. Of course it’s also the foundations of the project itself, the tokenomics, (the token economics) and certainly as well the brand that we created.
I think it’s quite easy for the people to understand that this is not a regular pump and dump talking, but it’s a long term game. It’s very important to use the protocol, what has been designed for, right? You create staking letters, maybe bulk stake, try to trade them on the DEX, get more tokens.
And especially we’ve seen that in other staking tokens. It’s very important that you collect those shares that have made the early Hexicans millionaires, basically. So that would be the game in Rex, That’s what I would assume, right? Yeah. So that’s what you have to do, I think, to use the protocol in the best way.
And also that’s what we’ve always said buy the dips. That’s basically what we want to do in this bear market. Maybe not even only REX, people who haven’t had bitcoins or Ethereum, BNB tokens, whatever. It’s a very good time for new people to enter this market. We might see some down down trend in, in the next month until we re enter the bull phase.
That might absolutely be the case. And that’s also why it’s so interesting to see Rex at the moment rising so hard. That’s a very positive sign of course, because people always buy green charts. And after we launched Rex and had this very peaking high in the very first days because Rex has been announced for months and people have been waiting to enter, and then we have seen the correction of course.
And we went down for some days and that is very hard for people to estimate when will the bottom be? And yeah, obviously we went under the value that Rex actually has. So now we are correcting back, maybe even correcting in the next weeks and month to the value that it actually has. Which I think is surely several 10, 10 million.
As a value, as a project itself. That’s what I would call it. And maybe we just go in waves with corrections all the time. Like when you look at the Bitcoin chart it goes up in three years waves. I think we will see that in Rex as well. And, but then of course going to something like a dollar maybe, or maybe even five the next bull market will of course be much bigger.
That’s what we’re all expecting, right? Then the last one. So this would lead to maybe even Rex going higher than a dollar. And this would of course be brilliant. So when you enter REX right now and you join the auctions and you maybe receive a big payday and you allocate Rex tokens and possibly just take them for a year.
There’s so much good content right there. Explanation videos, tokens, videos how to enter crypto. What is a wallet? We have all of those things. You just use that and get educated, educate yourself. So you, you will be quite familiar with what is staking what’s the benefits and so on, in quite a short time.
Yes, and then you will understand why the staking protocol is so good for long-term building wealth, and if you do it right for how you will learn how to create passive income. And the mechanism and REX for creating passive income is basically the- I was just thinking of a new game. I’m saying basically so often we should all have a shot of vodka or something.
When I say basically, that would be fun, right? I can’t stop saying that in a way. So we should do that next AMA. Just have a shot of vodka. No, of course we shouldn’t. We should be healthy. We should absolutely all be — healthy because I think Rex is a protocol with a very bright future because the foundations are so good and for the first time in Rex history, we have a very well perfectly smoothly working protocol that is unbreakable.
So this is a very comfortable situation right now. Everything that we can say to the whole crypto community out there, we can speak with 100% confidence now and this is such a good feeling, right? When you see Rex now in, in this bear market, we are going up a little bit at the moment, which is good.
It’s a correction from my perspective to the value of Rex. Absolutely has, but it hasn’t shown its value. It’s real value in the beginning, in the bear market, we now have the awareness and yeah. That, that we absolutely should have. What you do in Rex to create passive income is create those stakes and then of course you can create them in a revocable way.
That’s just a flag that you can set, irrevocable or revocable. When you do it revocable, you are able to withdraw already earned rewards from your active stakes and you can withdraw them. So that’s so beautiful. That’s a clear improvement from old staking protocols that we have seen. There is this one big example being the first certificate of deposits, staking token on Ethereum two years ago.
They started, it’s called Hex and Richard made it and. They did a lot of marketing in a very special way, and maybe they, people say that from time to time, maybe he used some of all the Ethereum that he kept from the auctions to maybe buy his own token and to boost it a little bit. But anyways, Hex made it to a value.
Let’s talk about market cap. That was beyond 50 billion, and that’s quite a number. No matter the marketing, I think it just shows that these long term staking protocols are quite powerful and interesting to the people. Certificates of deposit have always been a topic in traditional finance and building wealth, whatever they promise you.
It does only work in this way that you do long term commitments and people doing that get higher rewards. That’s why we have in staking “longer pays better”, right? So when you do a 10 year stake, you get three times the shares than just doing it for one year. So longer pays better. And this is the only way to do it.
If you are told that you could have a protocol with an API APR of 100000%, I’ve seen this recently, of course. It’s ridiculous. It doesn’t work at all because the token inflation always must be in the range between. Yeah, basically zero and 20% so that it’s sustainable. And Rex is something that is precisely 12.9, which is a good number.
That means that our token supply after the auction phase, where we mint a lot of new tokens for the auction participants, which is great as a fair launch. That’s what we would call it today. A fair launch mechanism for 222 days. After that we don’t mint any more tokens and the only tokens and res that are minted are by the inflation of 12.9% per year, which is not that much.
That means that our token supply will 20 x and 25 years in crypto is like forever, is three lifetimes or something like that of usual people. So that the, so this is really a good foundation that we have right there. And yeah, the mechanism, as said before in Rex would be that we create stakes yeah, short term, long term anyways, create stakes and maybe create some of them revocable.
So we are able to withdraw staking rewards from time to time, and then we can decide what we do. We could retake them. I had an AMA with Kelly last week. Actually it was this week. And there were some very interesting staking strategies in it. She suggested that. When you create a stake that is revocable for 10 years, you get a lot of shares.
Watch the full staking strategy interview with Dr. Kelly Snook here
In the best case, of course you use a TREX, so you get another 25% more shares and then you will be able to withdraw, staking rewards from your stake, like after two or three years, which is already more than your initial. Your initial stake REX so in this way you could withdraw all of those, taking rewards and stake them again for another 10 years, and then again withdraw them after two and a half years.
So in this way, we would, you would compound your Rex tokens. You still have the old stakes going, which is very interesting. You never lose this principle. So it will be available for you 10 years after you started it. So this is really a very long term thought. That’s absolutely right.
I think everybody knows that I was a very early Hexican. I participated in the hex auctions in the very first days and I always found it a good idea to do this kind of certificates of deposits. And go for long term building wealth. But there were some things and HEX that were discussable, like every second token was minted to the contract owner or to a certain original address. And every time there is some penalty from early ending stakes also goes, the tokens go to 50% of the tokens go to this Origin Address. And what they did is, every auction participation sends Ethereum. They kept all of it. There were no big paydays or something like that, giving back to the people, no BUSD referral or like ETH referrals giving back or this treasury that Rex has.
None of that existed in HEX and what I thought was together with a friend, basically we figured all of those things out. What to improve to make it a perfect community token where all the tokens belong to the community and there is not a founder’s address where he or she might or might not take all of those tokens and just dump them or sell them anytime.
Or maybe the contract owner dies and the people who come after the person just dumps them for whatever reason, the heirs I don’t know. Such things happen or they lose their keys or I don’t know. So it should be a fully decentralized version of hacks with lower fees. Of course, that’s why they built the pulse chain, I think.
We have that already on smart chain, cheap fees. We have those better auctions. I think because of the big pay days that we have on a daily basis it cannot break. There can be, like millions of Big Pay Days per day can be processed by the smart contracts, which is amazing. We have very good randomness.
Okay. Some people must join the auctions and have to then stake their tokens and get their referral rewards and to interact with the contract so that this random mechanism works very well. That’s a prerequisite. It’s a requirement so that randomness works very well. We’ve seen that in the past that when there is low participation, the randomness isn’t that good.
But when there is good participation, what we see right now rising and rising, or we’ve seen that in the very first days of re it’s very good randomness and it’s unbreakable. Without using these oracle mechanisms, which would be a third party risk, we don’t have that. No third party risks there.
So you can’t keep the purpose, maybe you want to stake it for a car or for somebody’s birthday or something. I was just speaking about the Hex and Rex comparison. And just to finish my thought when you go through this comparison I mean for the usual cryptos, staker or staking protocols user, Or even if you’re new to crypto, you can easily understand that the Rex protocol is more flexible for the users.
You can withdraw your staking reward rewards while the stake is active. You can send your stakes, you can split them, you can name them. You can do a lot of things with those stakes, and of course, that’s very interesting. Gives the people just more flexibility. So in terms of technology, in terms of low gas fees it’s much better for mass adoption right now because using Hex is very expensive.
Of course they have some. Built on top things so they can deliver some of the features as well. But in Rex, it’s all built in already and triple audited. We’ve seen another feature that Hex recently added. I think the name was Dodeca and it somehow was a I’m not quite sure actually, to be honest.
I think it was rug-pulled or a scam. It was a scam. I don’t know. It’s just maybe anybody you know or has all the information. I just saw that it failed. And some of the Rexicans said that, but I’m not quite sure about. I’m just saying that the whole, all of those things that Hex can do for you is built in Rex already and triple audited.
And by now we can say it’s absolutely safe and doing exactly what it should. And of course, we are very excited for the decentralized exchange for the stakes to open very soon, just in a few days or weeks. This will be very exciting for Defi. Basically you can imagine that being like an eBay for stakes.
You can offer your stakes for a certain amount of money and for a certain period of time, and anybody out there can just, in a decentralized way, buy them. You create an offer and everybody can just see them on the website and buy them. And if you hold an MREX, any fees as the buyer, only the buyer phase pays a fee, which is 2% of the stakes price.
We’ve tested that on a testnet. It works very well. We’ve seen that the website is already prepared. It will. Automatically list those things and offer you to list your stakes if you’re willing to the only requirement when you want to offer a stake. And you could offer any stake revocables, irrevocable stakes with TREX without your, all of your stakes that you have in your list.
You can just offer them for any price that you want to have. And the only requirement you have to meet when you want to offer a stake is that it has already passed 10% of its staking duration. So you can only offer it when, let’s say it was a 100 days long stake. It must have passed 10 days already, like 10% of the duration.
So you will be able to offer them. That’s the only thing. We made that because people couldn’t just create. A lot of stakes and just offer them right away, but they should have them for a time. And so that means if you withdraw interest already, you can’t offer them any longer. I think those are the two requirements.
They’re, of course, in the technical white paper, which is on Rex.io/paper, and of course linked on the, like everywhere And I think those flexibilities for the people and the low gas fees that we have and the sustainable economics that we have is surely a good reason to absolutely assume that Rex can be something in the market cap area of what Hex has reached, which would be several billion dollars.
That’s what I think. The certificates of deposits on a blockchain this flexibility is surely worth a lot.
We invite you to take the time to properly understand REX before investing. Some suggestions are below:
Do your own research.
If you are new to Crypto, please watch our Youtube REX UNIVERSITY series.
Listen to the REX TALKS series with Thomas, the Creator of REX.
READ THE WHITEPAPER! There is also a full walkthrough of the whitepaper here created by DR. Kelly Snook. Former NASA scientist and community member.
Go through the links on the linktree.
Read audit 1 and 2 and the hackathon report. These reports show that the code does exactly what is described in the whitepaper.
You can also audit the code yourself. It is published here.
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