It’s been three and a half months since Reddicks launched.
How do I know the date? I was on a skiing trip & had decided not to take my laptop and ledger. Disconnect, they said. It’ll be good, they said. It’s a few days & nothing will happen, they said. And no, I’m not bitter that I missed out on 200x on rly.fun...not one bit.
But what the fuck is Reddicks, and who the hell is Gary?? Well degens, time to get the cold-pressed coconut oil out because after some background foreplay, we’re sliding in for a (balls) deep-dive, finished with a creamy announcement…
Oh - and I make absolutely no apology for what is certain to be an inbetweeners-level of adolescent boy humour.
The Meme, Name & Image
Lets begin by addressing the big red dick in the room. When it announced itself, I was not the biggest fan. There, I said it. I get that Reddicks is a play on Radix, but not in my taste. Is my taste sophisticated? Absolutely not. And is this critique a bit rich coming from someone whose play on Radix was “Addix”, that we’re hooked and need our HIT? Yes, it’s incredibly rich - I used a needle as the damn logo & the ticker is literally shit. But it’s my taste, and hypocrisy & logic be damned!
Busting onto the scene
We have seen many strange things in the Babylon era of our beloved bubble, Radix, but the rise and rise of Reddicks would have to be near the top of that list. Part of the reason is it just all happened so damn fast! A mere 4 hours after Rick launched REDDICKS on rly.fun, with a girthy, bright-red & erect cock as it’s logo, it had its happy ending and finished. Prematurely, even. This was not an ED derivative, nor a token from a well known community member like RÅTTA, DELIVER or GNOMIE. Rick channeled his 14-year-old schoolboy self, found an image of a proud & rosy member, called it what it is, and pressed launch.
Ironically, what no one could see cuming with dicks, was a mysterious whale by the name of Gary found it so funny that he decided to gobble all those in front of him.
The rumour mill
Nowhere does rumours quite like crypto. We’re already a space of avatar-clad keyboard-warrior (mostly) men-children, so it doesn’t take much for the rumour mill to whirl. TC was a buzz with two questions, why & who?!
With the approaching end of the tax year, some thought it was creative accounting. By “some”, I of course mean me. Yes, dear reader, I thought it was a way to write-off all those $XRD profits we’ve enjoyed. Not my smartest moment. Others thought it was a way of gaming those foundation ecosystem buybacks - but the amount put in to what the buybacks are didn’t add up.
In the end, it was nothing as scandalous. When Occam finally whipped his razor out, it was simply “man finds dick joke funny.” And lets be honest, we’ve all been there.
Who is Gary?
If the first question demonstrated my stupidity, the second highlighted my arrogance. We’re so small (I thought) and I’m so connected (I thought) that there couldn’t possibly be a whale who I don’t know about. Unfathomable. Besides, he doesn’t have a radix-native NFT pfp - the watertight test for alt vs. genuine account. Case closed! It must be a Ginger Menace alt, or a Kon-man alt. Clearly up to some shenanigans.
Such is my hubris, I even disregarded the fact I have interacted with Gary directly before on WeAreMonstas NFT Racing. Over the next few weeks however, how Reddicks developed gave us a feel for who Gary is and what his motivations are, leading to a superb episode of Radix Review, and cuminating in a very exciting announcement below...
But the best starting point is his excellent open letter to the community which explains the origin story in more detail, and is well worth a read.
The tldr is he’s a crypto OG, believes Radix’s potential as a future crypto winner, and wanted to do a memecoin according to what he considers important.
The rise and rise of Reddicks
Seated comfortably? Good. Little blue pill for those who need it, now lets quickly cover what happened, and more interestingly, why. It’s only recently I have gotten my head around the details - so a little Q&A might be in order…
So who founded it?
Launched on rly.fun by Rick, Gary bought up the majority of the supply along with the owner badge. This means anyone could have gotten in at floor price, provided they weren’t skiing.
Is it one person, or is it a group?
Gary, along with Rick, are the co-founders of Reddicks. However Gary is the leader of an investment group of about 20 people, who believe in the future of Radix, and have a long-term time horizon.
Right, well if he believes in the future of Radix, why didn’t they just pump existing ecosystem tokens?
Good question, one asked multiple times, and for me the best indicator of their values. Firstly, they did (and do). Gary held Hug, Early & WOWO, before starting Reddicks. However he saw a problem with the fees. Where I would be looking at memecoins through the lens of culture, lulz and community, Gary’s starting point is through an economics lens.
Huh?
Oci charge 1% fees on LP Radlocked there after rly.fun graduation. Reddicks launched around a similar time to a new C9 pool which charges 0.05% trading fees. This is a huge 20x difference that if I’m honest, would never have crossed my mind. Not only that, but 60% of the C9 fees go back into the pool, reducing it to 0.02% cost leaving the coin on each trade.
Gary saw the Oci fees as a big long-term problem, and the only way to circumvent it was to pump enough liquidity into the coin in these new pools, so the Oci ones made up a small percentage of overall trades. So they bought back enough of their own token from Oci, to be able to put the majority in the more competitive C9 pool.
All that work for reduced fees?
Yes. Traders hate fees. Simply put, the less people pay in trading fees, the more they are likely to trade.
But in addition to putting liquidity in the low fee C9 pools, they also did something that is absolutely genius, and made me sit up erect and take notice. They paired Reddicks to LSU. It’s so simple, and so elegant, and damn it I wish I thought of that first!!
You see, the standard is to pair things against $XRD. However, the $XRD just sits there, flaccid. LSUs however, means the capital in the pool is increasing, in the most efficient way possible. Reddicks have the percentage growth of $XRD baked into their model, and it’s honestly fucking brilliant.
Well, how can I have confidence in those pools?
Unless something is locked, this is always a risk. They outline in the letter that they wanted to lock LP for 10 years from the outset, but after discussions with C9 decided on 6 months as a trial, since the pool was locked on the very same day the new 0.05% pools went live. Fair enough. Their stated plan is to lock again when it unlocks.
What about the non-LP tokens they bought?
A whopping 70% of tokens are currently in some form of lock. Some expire after a few months, but a stunning 40% is locked forever. At the time of writing, this is worth $1m. And don’t forget, the team bought the supply from the open market. Literally anyone could have gotten involved…it fucking rained on one day of the ski-trip as well…
Their website has a brilliant live tokenomics pie chart which shows the breakdown.
Wait, you said they do pump other ecosystem tokens?
Yes, they do hold a growing portfolio of ecosystem tokens as part of their treasury. Gary discussed it briefly here, but the tldr is their treasury is for development, growth and charitable donations. To me, this is a sign of longterm commitment to the wider ecosystem. Unless you were planning on being here for the foreseeable, why hold tokens within the platform? Although without $HIT in there, this author does have his reservations…
Hang on, you said charity??
Yep. 20% of the Charity Fund is earmarked for donation. Every six months the community will get to vote, via a DAO, on which approved charitable organisation receives the funds. Whilst the DAO is being setup, the decision Gary has made for the first donation is charities who combat human trafficking, an issue he has spoken out against a few times.
These aren’t insignificant donations either. At the time of writing, over $4,500 USD is set to be donated in August, 2025. To ensure transparency, every donation will be tracked on the blockchain.
I’ve got nothing but respect for that. The intention, the allocation of funds, the communal decision-making, and the transparency are all outstanding.
What else do they have planned?
They’re already working on an in-browser P2E game, where you build a mining setup and earn $Reddicks! The rigs can then be upgraded to earn more. I’m a big fan of farming games, Corvax are doing a brilliant job in this space, and I’m excited to see what Reddicks add. It’s clear that much more is to come too.
The money shot
I must admit, I formed my opinion of Reddicks too early. I saw the name, the minion-esque AI art, the strange buys and botted tg, and made my mind up. However, I might just have been looking at it through the wrong end of the telescope. You see, I was looking for community, meme origin-story, and utility - something $EARLY is still hands-down the torch-bearer for what a memecoin should be.
What Reddicks is doing however is forcing me to consider a memecoin from another perspective; begin with solid economic foundations of high liquidity and low fees, on a platform that is hugely undervalued and set to explode. With solid foundations, the other structural parts like community, memes and utility can then be safely and sustainably built on top. Gary is playing the long-game here. What's more by being the founder, he also eliminates the risk of someone rugging him.
In summary, with his background in economics he is looking a memecoin through a different lens to most of us, and has prioritised different aspects. What’s great is he is still a degen - the meme is a red dick ffs! Interestingly, whilst writing this piece I find myself warming to the meme. There’s something reassuringly simple, juvenile and funny about that little red guy. I find I can relate - not to the size, obviously, mine’s massive. But I find I can relate to just how silly it is. There is a great juxtoposition of superbly thought out tokenomics, a unique liquidity proposition, charitable endeavours, all brought to you by a happy little red cock. It’s marvellous!
I genuinely think it’s going to be one of those things where you may not like or understand it at first, but with enough dick, you can’t help but love it. I’ve gone from limp, to engorged.
After the shot
I’m happy to admit my position has changed completely on this one. I have swivelled on this dick. This is largely down to Gary, who I have now had the pleasure of speaking with a few times, and whom I believe to be smart, passionate, and just the right amount of crazy to be a successful founder.
For those who missed Murad’s superb Token2049 talk on Memecoins, it’s well worth a watch. Tokenomics have changed rapidly in the short lifespan of crypto, and well-run memecoins are the everyday person’s chance of getting in $EARLY, without the VC pricks using them as exit liquidity. I believe this lean version of Radix will be a huge success. I also believe that with the structure of Reddicks, it will outperform $XRD by some way. And with that in mind…
I am throbbing with excitement to announce a $HIT, $FOMO, $REDDICKS Partnership
After extensive foreplay, lets get down to it! I’ve taken many calls with Gary in the last few weeks about how best we can develop the Radix Ecosystem. One thing that it obviously is crying out for is more liquidity, particularly in stables. The FOMO $HIT Fund is designed to address precisely this. The fund takes fees from our node, and places them in simple lend positions within the ecosystem, to grow with compounding effects. The synergies were obvious, and we are delighted to partner to supercharge The Fund!
So, the structure moving forward is The 💚ADDIX+FOMO🐸 Node will continue to be 100% fees, and 80% will continue to be put directly into the FOMO $HIT Fund with the remaining 20% split evenly between $HIT, $FOMO & $REDDICKS Buybacks. These buybacks will be distributed weekly via our Rug-Proof Node Staking Component, in the same way $HIT & $FOMO are. Stakers to the node will therefore receive bonus $DCKS! They may also notice that the buybacks and fund increase a tiny bit…
Excitingly, we’ve also begun work on a Dapp for the fund, but that will have to wait for another article...
To learn more about REDDICKS, join their Telegram, follow on X, and check out their website.
