RCORE — Profit-sharing and Liquidity withdrawals!

Team Update

We want to apologize for our delays in communication. We understand our delayed responses from the development and administrator team has been unacceptable, we have been working nonstop to understand the problems, troubleshoot, brainstorm and innovate new ways to correct the launch and reward RCORE & RMPL holders.

We have not been ignoring your feedback and have internalized everything brought to us. To be frank, we didn’t want to give a bullshit response. We believe in delivering results, and wanted to present a concrete strategy for moving forward that would make our long term holders happy, and have been focusing 100% of our attention on accomplishing this. On the other side of things (we did not want to mention this, or cause panic until a recovery was made), our efforts were impacted due to two of our core team members needing recovery time to fight off the COVID-19 virus.

After taking some time to think of the best ways to move forward with RCORE and make it a staple of the RMPL ecosystem, we are now back on track with two exciting updates to RCORE!

RCORE Arbitrage Contract

Our first update to RCORE is the addition of a profit-sharing arbitrage contract. This contract will keep a consistent price between all RCORE liquidity pool pairs, eliminating the opportunity for bots to profit from this, while simultaneously sharing the profits with RCORE holders! All profits will be used to buy RCORE. 50% of the RCORE tokens will be sent to the burn address making RCORE even more ultra-deflationary, and the remaining 50% to LP staking rewards!

RCORE Liquidity Withdrawal

To encourage the growth of volume and liquidity addition into RCORE, we believe the ultimate method is to allow RCORE liquidity providers an outlet to eventually retrieve their provided liquidity. This will allow both users who took rpt in the LGE, as well as new LP investors to feel secure knowing that they can withdraw part of their initial contribution on top of staking rewards! 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.

The RCORE contract update for liquidity withdrawals will occur on 14th April 2021, 6 months after RCORE was launched.

Is This The End of RCORE?

Absolutely not. While RCORE has hit a snag, we are going to continue working on the product providing clear benefits to holding RCORE in addition to providing liquidity. For example, RCORE holders will be involved in airdrops for upcoming DeFi Prophet projects which we will be revealing soon!

This is just the first update and we will be making more changes in the coming weeks to add even more value to RCORE.

Randomized elastic supply token redesigned to solve market manipulation

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store