An update on RMPL and RCORE

Hi everyone,

So, communication about our RMPL & RCORE plans, what else we’re doing to build out the ecosystem to leverage and grow RMPL has been difficult because of the constant new contacts, partners, and options that have been opening to us.

Every 2–3 days our options have improved one way or another, our plans have been constantly changing to a better path, with better opportunities for everyone. So even up until the last 48 hours the plans have been evolving. Our communication issue is that until plans are locked in 100% we do not want to communicate things that might not happen or change.

We’ve had this issue before and have learnt from it. As much as saying nothing is painful, saying things that won’t happen is worse and has a lot more repercussions.

And at the end of the day when our partners are asking us to pause on updates or on doing something, it’s them and us trying to deliver something better, take a different approach or wait for an optimal time in the market to do something. The desired outcome we want is also what you want, bringing RMPL back into positive rebase territory and keeping it there as long as possible.

The downside of this is the lack of communication, and our only communication we can say is please wait. It’s not great, but it’s the best we can do when things have been so fluid.

Which leads me to today's update we can share, an update in regard to RCORE.

RCORE

Everything that we have been planning has been evolving fast, initially we wanted to develop our own arbitrage bot to utilize the triangular arbitrage opportunities that existing in RCORE already, we already have the code and have it working, however we now think the best way forward is in the coming days to unlock the ETH, the locked RMPL will be unlocked in 3 months.

With RCORE liquidity providers now being able to retrieve their provided liquidity current token holders may be wondering how this will affect them; removing liquidity will cause a 100% burn of the RCORE tokens involved to prevent RCORE price movement and to protect all RCORE/LP holders.

There was early fud about why we left the contract upgradable, well this is why, we wanted to have a fall back to make sure if there were issues, we had options to help the community the best we can like unlocking the ETH and RMPL for everyone.

The next steps will be published in the coming days, the announcements coming will cover our communication channels changes, marketing reorganization, ecosystem project launches and partnerships.

These will be medium updates that we will be publishing over the coming days and weeks, with our plans now very much locked in, we’re looking forward to the coming weeks and the news that will come from that.

Regards
DeFi Prophets team

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