When we launched the REX1 reward token, it was as a four month experiment to learn more about tokenomics and to observe the response we got from users. We gained invaluable insights from launching REX1, which have been instrumental in our decisions going forward.
The REX1 reward period lasted 20,160 blocks between block 677904 to block 698064, roughly 20 weeks. Trading fees totalling 71.0618434 BSV accrued to the REX1 reward pool in that period. An airdrop for all the BSV in the reward pool was then sent out on 11th March 2022 to all REX1 holders — this marked the end of REX1 in that form.
Today we announce REX — the native token of RelayX. Instead of minting a new token for REX, we decided to use the existing token contract from REX1. This way we can fully shut down trading of REX1 and not have variations of it left.
As of 14th April 2022, REX1 will be renamed to REX. The supply will also be increased from the current 800,000 to 210,000,000 tokens. REX will now become a permanent token that trades at relayx.com/market/REX.
This is all we can share for now. Stay tuned for further updates on this front.