On Saturday, June 8, 2019, 09:18:24 AM EDT, NovaChain [email protected] wrote:
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We fully acknowledge the difficulties REX has caused to our community and we have been diligently working overtime to solve them. Your trust and investments are extremely important to us.
Our goal with providing a solution for REX is to make sure you end up making a profit. Essentially, we wanted to find a way to ‘give the store away’ without becoming insolvent. After spending weeks having professionals crunch the numbers, we feel we have an exciting solution for REX that will benefit the community.
We will release all the specifics in the next few days on our Medium channel, but for now we are eager to announce a few of the major points to consider.
We will create a new pool within TREX that will be 100% HFT.
Users will be able to transfer their REX USD into the Pool (transfer fee TBA)
The term of the plan will be for 90 days.
The payout and capital will be released at the end of the contract at 50% in Crypto and 50% in Nova
Fees and reserve details will be announced at a later date.
For those who choose to remain in REX: Since we began TREX and implemented its logic into REX 2.0, the REX HFT and the TREX HFT have been stepping on each other’s toes. This has affected the REX returns. Early on, REX 2.0 even had some negative days that we had to cover from our own pocket. That higher risk model is no longer sustainable. REX will revert to what it was originally created to be – a 100% strict arbitraging system. Undoubtedly, this will produce much lower returns on an ongoing basis. New investments into REX and autoreinvesting will no longer be possible.
Masternode holders will not be affected by entering the pool and will still maintain ownership of their nodes.
We are very optimistic this conclusion will provide REX users with a realistic, lucrative opportunity. We are hopeful this massive pivot will allow us to stay on track in promoting a suite of services the entire planet can use.
Important: As you have come to expect, we will offer a special limited time promotion once the plan goes live. We aim to make it worth your while and prove to you how hard we’re working to make you all profitable!
Feel free to chime in on our communication channels, especially Telegram if you haven’t dropped by for a while. We are currently 20k members strong and look forward to having you join us!
To turning a new corner together,
Your NOVACHAIN Team
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