Update RBL Project - June 2022
Over the past view weeks, we have been exploring options to (re)launch RBL Token with the general idea to keep the RBL project going while we are waiting for the recovery or refund of liquidity by FEG Team. Once the liquidity is recovered or refunded it could then be used to either boost the new RBL token or merge the two tokens into a third and final RBL Token using the SmartDeFi 2.0 contract.
However, we must realize that the RBL project does not only suffer from the halted RBL Token, but also from a significant crypto asset portfolio which mainly holds halted SD tokens of which some incurred heavy losses due to panic selling across several SD markets at time the exploit was discovered. For the portfolio to continue (at profit), we also rely on the recovery or refund of the liquidity of those SD projects and the direction each of the SD projects will take going forward.
In addition, the general crypto markets took another dive recently with BTC leading the downfall sub $20k. And all though markets showed some recovery, we think the markets have a much higher chance of revisiting the lower levels multiple times (or even lower) before we can start thinking of a bullish reversal which could still be weeks/months away. We anticipate that an accumulation phase at those lower levels is needed to build up bullish momentum herewith also considering macro-economics and global politics that remain extremely bearish.
With the portfolio being halted (use case) and with bearish market conditions (selling pressure), but moreover due to having significant liquidity stuck in both RBL Token and RBL Portfolio, we have decided not to risk additional liquidity on a (hasty) relaunch now, but instead wait for:
1) the progress being made by FEG Team on SD 2.0 and the recovery/refund of liquidity
2) the general crypto markets moving into accumulation phase ahead of a potential bullish reversal
We understand that the current halted situation is very unfavorable for RBL holders because it just does not feel right to have money stuck like this. However, please be aware that for now the halted situation is to be considered a waiting game and not a losing game and that we just have to trust the recovery/refund plans being put in place by FEG Team.
At time of SD and RBL Token being halted, RBL Token traded at 0.000833 BNB per RBL Token with BNB at $300 and RBL Token at $0.25. With BNB having dropped further to $215 today, RBL Token would be valued at $0.18.
Unfortunately, we cannot manage the $ value of BNB, but 0.000833 BNB per RBL Token is something RBL holders should expect when relaunching herewith considering a full recovery or refund of SD liquidity. RBL holders should also expect receiving any new RBL token on a 1:1 basis for which we have taken snapshots of the current RBL holder token balances.
Last, we have been putting together a smaller interim crypto asset portfolio of which trading and investment profits will partially be retained to buy & burn the new RBL Token after relaunch. Meaning, while we wait for the opportunity to relaunch, we will continue to chase investment and trading opportunities to build up additional value for the RBL project.
In the ideal situation: SD liquidity is fully recovered or refunded, and we then relaunch or migrate RBL Token with an improved and audited SD 2.0 contract at 0.000833 BNB per RBL Token and with BNB back up to $300 or higher. After relaunch we can instantly start boosting the new RBL Token (buy & burn mechanism) with trading and investment profits earned from the interim crypto asset portfolio and also continue with the initial portfolio. We would perhaps all look back at this waiting game period as a migration period while having survived the bear market without any significant losses to make up for first.
Should this ideal situation be achieved, we could see RBL Token trading at a price above $0.25 quickly after relaunch with an improved and audited SD 2.0 contract on an improved FEGex platform that will have some interesting and strategical new features. Here is why:
FEGex will be moving away from operating as a decentralized exchange with liquidity pools. This move makes sense after recent exploit events, but we think this move could also be an important strategical one. FEGex will operate as an aggregator and gasless P2P platform which will allow for any validated token to be listed. On the aggregator platform one can easily and quickly find the best prices being offered across multiple decentralized exchanges. On the P2P (peer-to-peer) platform one can offer and trade tokens from wallet to wallet (person to person) while setting buy and sell orders at preferred prices.
In case you are not aware yet, a lot of blockchain projects and exchanges have been working on P2P protocols and it seems P2P could have its rebirth in the upcoming months. Remember Napster and exchanging music files peer-to-peer? Now consider the younger generations exchanging tokens and NFT’s the same way, thereby always looking for the best price and zero gas fees deals fully independent from third party liquidity pool pricing and trading fees. We think that the direction FEG is taking now, may very well position them ahead of the competition (trade platforms), but only time will tell…
With the new SD 2.0 contract and new FEGex trading features, RBL’s vision and mission will change with it. This will result in a change of RBL Token’s tokenomics and base pairing for sure. Therefore, aside from managing the interim portfolio and building additional value for the RBL project, we will be fully redeveloping the RBL project which also includes updating the website, social platforms and perhaps writing a short white paper. We will also redefine our portfolio investment strategies with the goal to diversify opportunities and risks across multiple blockchains platforms. We will be monitor everything FEG daily and will update on developments that significantly impact the RBL project.
The time to learn from events and to improve and rebuild is now during the summer and we feel confident that all pieces – as described in this write up - could all fall into place with a true reversal of crypto markets after the summer period. Just give it some time by stepping away from crypto now to enjoy your summer at the fullest and RBL Token will be back up and running in profit before you know it!
To be continued...
Happy & healthy holidays to you all!
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