PancakeSwap announced last Wednesday, May 19, through its Twitter account, that RedFOX Labs will be part of the platform’s Syrup Pool, so it invited users to bet $CAKE to win $RFOX.
“Today we are very pleased to be able to offer a new Syrup Pool from RedFOX Labs, an emerging Internet technology company that identifies and builds successful business models for Southeast Asian markets”, he said through an article published in the Medium platform.
The syrup pool
The company shared the details of the syrup pool, while also inviting users to contribute $CAKE to earn $RFOX tokens.
Total Tokens: 3,000,000 RFOX
Duration of distribution: 60 days
Start Block: 7564100 (approximately 5am UTC on May 20)
Goal Block: 9292100 (approximately 5am UTC on July 19)
Token Rewards per Block: 1.7361 RFOX
According to the company, to host the RFOX Syrup Pool, they will provide an RFOX farm with 2x CAKE rewards for the first 48 hours and then 1x CAKE rewards after that.
PancakeSwap indicated that there would usually be a vote, but there are currently issues with the nodes that they have been using to support the vote. “As such, we hope you trust us in this case, and rest assured that we are working to implement the new version of the vote as soon as possible”, he said.
About RedFOX Labs
The company explained that RedFOX was founded with the intention of being Southeast Asia’s first blockchain business builder and helping with the mass adoption of blockchain and other emerging technologies. “His business identifies and replicates pure and successful business models for local markets within the fastest growing sectors in various industries”, he added.
In his view, RedFOX Labs’ approach is to unlock the true market potential of the digital economy for high-demand consumer services, such as e-commerce, electronic media (streaming), e-sports and games, e-travel, and transportation / logistics, with the vision of becoming the preferred superdApp in Southeast Asia.