We are happy to announce that we are one step closer to relaunching our new token and are excited to introduce Redux Protocol as our new project name.
The word Redux comes from the Latin word “reducere” which means “brought back, or restored.” We believe this is fitting for many reasons. Through the two years working on Libre DeFi, both pre and post-launch, as a team we feel we have gained invaluable experience, knowledge, and a vast list of connections within the industry. From the exploit that we suffered in May, that experience and knowledge grew immensely, through the adversity, we gained valuable insights and learned a lot not only about the industry but about ourselves.
One of the things we realized with Libre DeFi, was that our goals were quite lofty. We wanted to do a lot with the platform, and along the way we got distracted by trying to do too many things at once. This was a very eye-opening “live and learn” moment for us. We’ve learned that it’s better to be great at one thing, than just okay at a lot of different things. This is why we are streamlining our approach to the product we are building and offering our community.
As you probably already know, building a launchpad was a big part of our previous roadmap, which is why we are focusing our efforts on building a premier Web3 Accelerator/Launchpad.
The focus will be on giving our users exposure to a variety of different projects in the space. Everything from DeFi, Play to Earn, NFTs, and more will be included. While the token and platform will be on Ethereum, we will be covering projects on a variety of different chains including Binance Smart Chain, Polygon, Avalanche, Optimism, Arbitrum, Solana, and more.
Our focus will be on projects with strong teams and foundations. We want to focus on quality as opposed to quantity. One of the main problems with other launchpads is that there is a keen focus on the multiples that a project can return upon launch, but very little focus on the longevity and staying power the project has, which is why the projects that we bring on will be highly curated and vetted.
Redux Protocol will be fully DAO enabled and will put the power back in the hands of $RDX holders. Ultimately, you will have the final say on what gets listed for IDO. In addition, there will be no unfair tier systems that are heavily skewed towards bigger holders. If you are a member of the DAO and staking $RDX tokens, you will be able to invest an amount that you are comfortable with.
Again, we appreciate the patience from our community over the last month. We feel as though we’ve been given a great opportunity to take the lessons we learned over the past year to make the best product possible.
More info will be made available in the coming days in regards to a launch date, however, nothing is set in stone just yet. We want to make sure we do this relaunch right, not fast.
Thank you for the continued support!
The Redux Team