# Introduction

![](https://2464060600-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FeiOKJqWsgz3MhUkZCsYl%2Fuploads%2FYXKepOD91s5yuFTHWgWM%2FOwl%20x%20Fox.png?alt=media\&token=0258fc48-d0f9-4049-a94a-03b185149024)

### Why was Arctic Fox created?

The Snowy Owl team felt the need to add a new layer to the old protocol and created Arctic Fox with the following objectives:

* Expand the life time of SnowyOwl
* Reward both old and new investors of the SnowyOwl/ArticFox protocols
* Create a new stable coin pegged to Joe
* Create a new ecosystem of tokens (Snowy owl/Arctic Fox)

$FOX is pegged to Trader Joe ($JOE) token via seigniorage and other mechanisms.

Arctic Fox will be launched via genesis pools on **12th March 2022**.

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