@everyone. Now that we have the final numbers, we are able to finalize how Pinnacle Staking will work in relation to the Rebate.
03 May 2023, 02:41
@everyone
Now that we have the final numbers, we are able to finalize how Pinnacle Staking will work in relation to the Rebate. We look forward to releasing this info about this in the coming days.
We understand that the rebate numbers have changed from the incorrect numbers posted the first month - we are in the process of fixing the transactions csv download option so that you can cross check the data yourself.
Not only is the prospect of paying AVAX IN / AVAX OUT the only equitable way to manage this rebate, it also allows us to include RND into the calculations we have committed to rebate. This brings the final total to $6.5m, which is still an impressive yet very achievable amount for Redlight to pay out. We simply can't take on board the amount of value that has been lost in the crypto market across the board, so we believe valuing AVAX as AVAX at the time the final script was run is the only logical solution as opposed to not including this as part of the Scarlet Chains Rebate.
As you know, Redlight added external funds to fuel Scarlet Chains liquidity, and there is a common misconception that we are sitting on a vast amount of funds. This is not the case - we will be generating more funds to solve this via the following strategies:
- Fees generated by DawnSwap and Midnight Trades
- Fees generated from Aurora (Launchpad) once released
- Fees generated from RedStarter once released - enterprise revenue stream
- Fees generated from Redlight Cloud once released - enterprise revenue stream
- Fees generated from RedTag once released - enterprise and consumer revenue streams
- Fees generated from Pandoras Vault once released - enterprise and consumer revenue streams
- All dividends generated from MyMetaverse
- All dividends generated from Infinity Realms
- All dividends generated from Zombie Nation
- Funds invested by VCs, we are currently in talks with several
We will also have Pinnacle Staking available, which will allow those that are eligible for rebate to be able to participate directly into this with the possibility of yielding a higher return the USDT-R option. This will have a "Fail-Safe" option included as well which we will release the info on along with the dedicated Rebate Pinnacle Staking information.
On top of this, we have spoken to several of our partners (both announced and unannounced) regarding other projects providing NFTs and/or Tokens for eligible rebaters to be able to purchase with their unclaimed rebate amount. This is purely run off good will and support of the Redlight ecosystem by our partners, and we plan to have this operate in a similar way to how we intended for the SCAR shop to work.
We understand everyone's frustration, and we are working relentlessly to turn this around and your support is greatly appreciated. The faster we can garner support for the Redlight brand, the faster we can drive more adoption to the chain and form new partnerships. Which, in turn, will speed up our ability to generate funds for this rebate.
This community is our life and we are steadfast in our mission to resolve this rebate.
As we mentioned when Scarlet Chains was initially closed, now that we have the final data we will be hosting an AMA in Discord to discuss the data and our path towards successfully completing this rebate.
We look forward to seeing you in our Discord AMA Stage on Tuesday 9th of May - 1pm UTC.
After this first AMA, we will continue to hold weekly AMAs, so we can keep gathering direct feedback from you as a community and provide more nuance and context around what's happening behind the scenes.
Future AMAs will be alternating times so you will be able to attend no matter what timezone you're in. We look forward to your questions and we are eager to provide some more insight towards the future of Redlight Chain.
Same news in other sources
4
03 May 2023, 20:27
This was from Dadgoescrypto earlier:
now blockchain is processing blocks, processes are progressively restarting.
As the team had to focus on the blockchain item today, the claim button release is postponed by 1 day versus the plan communicated yesterday.
Sorry for inconvenience
This was from Dadgoescrypto earlier:. now blockchain is processing blocks, processes are progressively restarting.
This was from Dadgoescrypto earlier:
now blockchain is processing blocks, processes are progressively restarting.
As the team had to focus on the blockchain item today, the claim button release is postponed by 1 day versus the plan communicated yesterday.
Sorry for inconvenience
03 May 2023, 15:20
From Dad
End of alert, dAPP is back online also and you should be able to see your data populating now.
Claim button not actived yet as just communicated.
From Dad. End of alert, dAPP is back online also and you should be able to see your data populating now.
From Dad
End of alert, dAPP is back online also and you should be able to see your data populating now.
Claim button not actived yet as just communicated.
03 May 2023, 15:06
From Dad
End of alert, Blockchain is processing blocks.
From Dad. End of alert, Blockchain is processing blocks.
From Dad
End of alert, Blockchain is processing blocks.
03 May 2023, 06:41
We are aware the blockchain isn't processing blocks because one of our main Dataseeds needed to be relaunched, which caused the disruption of Redlight Chain.
This issue will be resolved shortly as we are currently relaunching the Dataseed.
In relation to the wallet that was claiming from the Rebate Wallet, they did this by accessing an old API which was not public facing - this has now been resolved also and we will be topping up the USDT-R pool to ensure everyone who is eligible for a rebate will get their share for this month.
We are aware the blockchain isn't processing blocks because one of our main Dataseeds needed to be relaunched, which caused the
We are aware the blockchain isn't processing blocks because one of our main Dataseeds needed to be relaunched, which caused the disruption of Redlight Chain.
This issue will be resolved shortly as we are currently relaunching the Dataseed.
In relation to the wallet that was claiming from the Rebate Wallet, they did this by accessing an old API which was not public facing - this has now been resolved also and we will be topping up the USDT-R pool to ensure everyone who is eligible for a rebate will get their share for this month.