Red Pulse, a Hong Kong-based market intelligence platform, has announced that it is delaying the launch of token staking, deposits, and withdrawals on its PHOENIX platform until August 27th, 2018. PHX token staking was originally planned to begin August 20th.

Red Pulse founder, Jonathan Ha, stated on Reddit: “due to community feedback we are in the process of implementing Authy and Google Authenticator…in addition to other security features”, which is the cause of the delay. After emphasizing the importance of strong security for user funds, Ha apologized, and thanked the community for its patience and continued support.

Red Pulse revealed its tiered staking program on August 13th, 2018. Staking PHX tokens in PHOENIX platform wallets grants owners the ability to receive additional tokens through an inflation protocol. The base staking rate available to all users is 5%.

More information on the Red Pulse project is available by following the links below.