ON PULSECHAIN
IS REX a honeypot?
There are people trying to spread misinformation about REX.
This website deals with the most common misinformation out there.
"Is REX is a honeypot"?
No.
But why can't I sell REX then?
To sell any ERC-20 token, you need the "balance" to do that. (You can't sell tokens you don't have.)
To sell REX tokens, you also need a "sellable amount" to do that, a number also stored in the REX contract.
The "sellable amount" is an additional number, that has to be earned by using the REX protocol.
For example one can stake REX tokens to earn a sellable amount or provide liquidity.
And this is not secret knowledge. It's right on top of the whitepaper.
Also, the code is published and the claims of the whitepaper can be verified by anyone.
But why does this "automatic honeypot analysis tools" say it's a honeypot then?
Because it's an automatic tool with limited algorithms. Obviously, it's not "smart enough" yet.
It probably cannot conclude that users can earn the sellable amount and then sell the token.
And why can't I send REX to another account or contract?
The REX token itself is not designed as a cryptocurrency, that you could send to other accounts. Think of it as a means of deposit. Like in a closed ecosystem.
However, from REX DAY 180, the Wrapped REX token ("WREX") will be active, so you could wrap your REX and sellable amounts into WREX and trade it wherever you want and send it wherever you want.
In addition, one can always STAKE their REX tokens and send the STAKE to any other account.
Why all the restrictions?
It's a new approach. A fresh idea. Having a closed and protected ecosystem, so people can think in longer terms, without being afraid of other people dumping all their tokens.
Let's turn the question around:
Why allow non-protocol-users to "dump" their tokens - without using the protocol for what it has been made?
We do understand this might be a problem for automatic analysis tools.
But it's a huge advantage for long-term thinkers.
There is a whole section in the whitepaper that explains why and how those modifications work.
Have a look! It's a good read!
"Is REX is a scam"?
No. REX has been here since 2020 and REX is here to stay.
During the last years, REX has constantly been developing and achieving a lot of milestones.
Check the REX timeline (i.e. X/Twitter) for a second - to see what REX has achieved so far.
Also, REX has already proven, they don't run when something goes wrong - they fix it.
And crypto history has shown clearly, something might probably go wrong.
Truth is, REX has thousands of friends, followers and investors. We will keep going.
The REX mission is to create and maintain beautiful crypto for everyone.
REX on PulseChain is a new approach - give it a chance.
Look at it with fresh eyes.
Read the whitepaper.
"REX cannot be successful ever!"
Oh - we'll see!
Many said that about many tokens.
After reading the whitepaper properly, you might come to the following conclusions - and rethink.
1) From the beginning, REX on PulseChain will have a certain user base.
There are some eyes on REX.
2) The stakers are committing long-term.
There are a lot of long-term stakes in REX.
Long stakes receive a lot of BONUS SHARES - up to 2000% for a 10 years long stake.
3) The chart will probably be quite green, which gets more eyes on REX.
A constant inflow and a slow outflow shall be the way to success.
The values have a good chance to develop in a sustainable way.
4) The combination of a green chart with long-term commitment of many, is an absolute pro.
5) REX offers several possible strategies for short-, medium- and long-term staking of tokens, for everybody's needs and preferences. It's flexible. You can make a strategy - and adopt it.
6) Probably, the most common strategy will be the passive income strategy. The special emphasis on the SHARES BONUSES for very long stakes is very tempting and creates a healthy and sustainable environment, price appreciation and a positive perception.
7) REX is a protected and closed ecosystem - for building positions, not for trading quickly.
There are a lot of people looking for exactly that.
But, yes - We'll see!
In case of doubt or uncertainty, please ask questions in our REX telegram main chat.
And don't forget to read the paper - it's all in there.