As many of you know, I’ve helped a lot of projects upgrade their tokenomics by swapping out their existing tokens for shiny new ones. Typically with the process the tokenomics are improved and the code is given a good cleanup. Sometimes the code is rewritten from scratch, sometimes not. Either way, the outcome is extremely positive: a fresh look, a solid jump in price, and an easier time promoting their project.
Despite doing this for others, I’ve always hesitated to do it for us. Rocket Bunny and its sister token, Pocket Bomb, was the first ever to offer its tokenomics and utility, and has a special place in our hearts. Yet as in all things in life, one must evolve and improve in order to grow fruitfully. That fruitful growth is now here, and its future is exciting beyond belief.
Being completely honest here, It took me about a month or two to finally come to grips with this, but the decision was finally made. With much sorrow, we decided to retire the Rocket Bunny and Pocket Bomb name entirely…
…and introduce the initial step to the future of the project: RBX!
RBX is the unified cross-chain token upgrade we’ve been needing for a while, and it’s finally here. As of now, Rocket Bunny holders can swap their BUNNY tokens to RBX using our rocket drop interface located here: (REDACTED).
Update: The RBX late swap is open until ~Nov 28 2021 at this link: (https://launch.rbx.ae/lateswap) Holders over 10T are whitelisted automatically, if you hold less than 10T, please join our telegram for us to manually whitelist you: (https://t.me/RBXToken)
Simply open the link (Using MetaMask browser on mobile), connect wallet, approve, and swap! If you hold PBOM, just sit tight for now, as your RBX will be airdropped to your wallets upon completion of the BUNNY to RBX swap.
Here’s what RBX brings that our previous tokens didn’t:
No transaction fees. Just one simple 2% funding fee on DEX sells.
- This means you can freely distribute, stake, store, and use your RBX tokens without penalty.
- No transactions on purchases.
Special governance rights
- Each token can be used to cast a vote in future governance, or can be delegated to others.
- More details will be released as this placeholder functionality develops further
Automated holder credit/reputation attribution
- Every 24 hours, the token takes a snapshot of holder balances and existing supply.
- While this information is already on the blockchain, this new functionality lets us easily access said information and use it for future products.
- Examples include: seniority-based staking rewards (hold longer, get higher APY), special rewards based on holding times, special credit lending based on token balance history, etc.
Cross-chain 1:1 bridging.
- This means you can move your RBX from one chain to another without having to wrap, swap, and bridge your tokens just to take advantage of a little arbitrage.
- It also means that you are able to easily and effortlessly use released products across different chains.
- i.e. Tired of paying high gas fees? Stake on Arbitrum, Matic, or BSC
Built-in project funding without price effects
- The 2% sell fee is immediately liquidated and sent to the RBX development and marketing wallet to fund further growth.
- This liquidation is DEX and pair agnostic: whether the sell happens on a USDC pairing or a LINK pair on Sushiswap, the mechanism works effortlessly and transparently.
- Because this happens immediately, the team no longer has to pay vendors in tokens that are eventually dumped onto the market.
Multi-admin access roles
- Several roles can be defined that can interact with admin functions in the contract.
- This allows RBX to be managed securely by multiple team members without affecting the overall security of the system.
- Critical functions are still reserved only for the main administrator, thereby insulating holders from “risk of rogues”
That’s but a handful of great things that our new RBX token let’s us do!
I do also know that there have been several questions as to why or how we are going about this swap. Especially how it will affect existing BUNNY and PBOM holders. Here is the best list of Q&A we could come up with so far, which will be updated periodically as more questions come to light.
RBX & RBX Swap: Frequently Asked Questions
Q: Why are we switching tokens?
A: BUNNY and PBOM were released about 8 months ago, and its code is starting to show its age. Despite being the first to offer its tokenomics and mechanics, many of the newly available features and flexibility are simply lacking in the original code. Over time, I’ve personally helped several projects transition to new contracts with upgraded code and now it’s time to do the same for us.
Apart from that, the decision was made to revamp our current branding in order to convey the more serious nature of our offerings. Rocket Bunny was always launched with the intention to release novel and useful products as part of its ecosystem. It’s now time to shed our meme token outer appearance and step into a more “professional” look.
Q: Why am I getting less tokens?
A: You’re getting less tokens because we’ve changed the total supply. Originally, Rocket Bunny had a total supply of 777 quadrillion tokens. That’s 15 zeroes. Most platforms do not display these amounts properly, and honestly it caused more issues than the worth of the novelty.
Q: Why am I getting diluted?
A: No one is getting diluted. The fact is that we reduced the supply by a factor of about 1 million. Everyone that swaps is getting an equivalent amount of RBX relative to their holdings. If you hold 1 ETH worth of BUNNY, you will receive 1 ETH worth of RBX. Simple as that.
Q: Why is the supply so low?
A: Again, we reduced the supply in order to better align our goals and the compatibility with other platforms in the crypto sphere. While having a total supply of 777 quadrillion sounds cool, the fact is that it caused more problems than it was worth.
And honestly, think of all the time you’ll be saving from typing less zeroes. It’s a win-win.
Q: Why do I have to pay fees to swap tokens?
A: Unfortunately there isn’t a way for us to control what the transaction costs on the ethereum network are. Due to the fact that about 99% of the token’s liquidity is locked inside the contract, we aren’t able to simply airdrop everyone the proper amount of new tokens without unfairly distributing additional value.
This is apart from the fact that airdropping our 5k+ holders would cost tens of thousands of dollars. For perspective, Uniswap had users claim their ‘airdropped’ tokens and pay their own gas, and that seemed to work out well for everyone.
Q: Why are Pocket Bomb holders getting airdropped?
A: Pocket Bomb was released after Rocket Bunny was. Due to the adjustments in the token’s protocol, we are able to pull 100% of the existing liquidity and move it over to the BSC version of RBX once released.
Additionally, the costs associated with a BSC airdrop are far less than airdropping thousands of holders on the Ethereum mainnet.
Q: The swap is going to cost me the same or more than the current value of my BUNNY! Why would I swap? I might as well just buy RBX once it releases!
A: True, sometimes this can be the case. However, if you swap now, you are guaranteed to receive your RBX at what is essentially a locked-in price. When new tokens are listed, they typically have a solid jump in price, especially if they are a well known or highly anticipated listing.
We expect that once RBX is listed on the exchanges, it will more than likely jump in price as is typical. This would leave behind those that didn’t swap. You would then need to buy RBX at a higher price or swap your BUNNY tokens at a substantial haircut.
Q: What are the new tokenomics of RBX?
A: We revamped how the mechanics and yield generation works for RBX. We found that people preferred a more interactive way of accruing their yield. That’s why RBX allows holders to stake for a stable yield that comes out of an allotment of tokens determined at mint. This means that you are able to stake your RBX tokens to get a consistent yield, regardless of the amount of volume the token has.
However, RBX is not an inflationary token, so eventually this stable yield will have to come to an end. We estimate that this will take approximately 1 year from release date. The assumption is that by then, all the revenue being generated from the ecosystem will more than supplant said pre-allocated rewards.
Q: Will I still get auto-yield just for holding RBX?
A: Nope. Auto yield seemed to only benefit the largest holders, and was also volume dependent. We wanted to move away from that model and be able to offer holders a consistent yield throughout their holding period.
Quite frankly, even on the highest volume days, the amount of yield generated wasn’t entirely significant for most holders.
Q: What are the benefits of holding RBX now that the tokenomics have changed?
A: The benefits are that you can now do whatever you’d like with your tokens and not have to pay a penalty for doing so. RBX does not incur any transaction fees, only a 2% fee upon selling.
You are free to split up your balance across as many wallets as you’d like, stake without penalties, or even move them around in an effort to burn gas. We don’t care, we’re not your dad.
Q: What happens if I don’t swap my tokens?
A: Well, nothing. If you swap within the 1 week swap period, you will get the full value of your BUNNY tokens in RBX. If you miss the 1 week swap period, you will still be able to swap, but you will incur a 20%-50% haircut on the amount of tokens you receive.
EDIT: Fee-less late swap has been extended for a month as of 10/14/2021 (lasting until 11/28), after this extension, fees will resume at a reevaluated rate.
This isn’t to penalize holders, it’s to encourage people to swap. Since over 99% of BUNNY’s liquidity is permanently locked, we need as many people as possible to swap in order for us to transfer the as much liquidity as possible. More liquidity = better price + better launch.
Q: Why are you stealing my money?
A: We’re not. We’re letting everyone swap their BUNNY tokens for RBX at a 1:1 value ratio. Despite the fact that you will receive less tokens, rest assured that the market value will be the same.
Additionally, we’re allowing those that do not pay attention to the Rocket Bunny community to still swap their tokens in the future, although at a slight penalty.
Again, this is not a punishment, it is simply a necessary evil to ensure the greatest success moving forward.
Q: What about all the things that were promised for BUNNY/PBOM holders?
A: Those still stand. This is simply a token swap + upgrade. Nothing has changed in our roadmap or how the ecosystem will work.
Q: I completed the swap and now I don’t have any tokens and my ETH was taken. What’s going on here?
A: More than likely you have not completed the swap. Please join our tech support channel so that we can help you understand what the heck happened to you. (Https://t.me/rocketbunnysupport)
Q: The swap isn’t working at all. This is dumb.
A: See above.
As we receive more questions and become common, we will update this article with their answers to reflect that.