CRODEXers! We are launching a momentous in-house product on CROWD.
First and foremost, we would like to express our gratitude for your support thus far. We are fully motivated to keep building in the anticipation of sharing new achievements with you all in the future. Our primary objective is creating cutting-edge, user-oriented goods that will lower the level of volatility in our ecosystem and foster user confidence. To further encourage long-term staking of Crodex Ecosystem tokens and reduce sell pressure, we are launching a new protocol with the new main token xCRX.
For the details of the new Crodex protocol and xCRX, see our previous article.
Tokenomics of xCRX
- Total Supply: 500M xCRX
- Initial Supply: 13M xCRX
It will be reserved for initial token sale and xCRX-CRO liquidity formation post launchpad. - Short-Term Supply (up to 2 years): 37M xCRX
It will be used for development, partnerships, promotional activities, liquidity management. - Long-Term Supply (up to 10 years): 450M xCRX
It will be allocated to CRODEX community members through Liquidity Provider (LP) & Single token staking.
xCRX Token Sale Details
You will need CRO to participate in the Sale.
- Launchpad URL: https://swap.crodex.app/#/ido
- Method: First come first serve
- Start Time: Oct 23, 18:00 UTC
- End Time: Oct 26, 18:00 UTC
- Min. Target Amount (Soft Cap): 500K CRO
- Max. Target Amount (Hard Cap): 1,5M CRO
- For Sale: 7,5M xCRX
- Sale Price: 0.2 CRO per xCRX
- Max. Buy: 50K CRO per wallet
- Listing Price: 0.225 CRO per xCRX
- Vesting Period: 30% of the xCRX will be unlocked upon completion of the sale. The rest will be unlocked in 2 equal portions: 35% on November 30 and 35% on December 30.
- Fund Allocation: 82.5% of all CRO will be used to form xCRX/CRO LP. The remaining 17.5% will be allocated for development and liquidity management.
No xCRX tokens will be claimed by the CRODEX treasury or the team, ensuring zero sell pressure from our side. - During Sale: Commit CRO to get xCRX tokens on CROWD.
- After Sale: Claim your xCRX tokens on CROWD.
xCRX will be tradable immediately upon completion of the sale.
Why xCRX?
Stake and Earn
- The holders of xCRX can form xCRX-CRO LP tokens and stake them into pools to earn rewards. We will maintain the rewards so that xCRX-CRO LP Reward Pool tops APR charts in the protocol.
- The holders of xCRX can pledge their xCRX tokens into xVault to receive rCRX. By holding rCRX the owner earn
- Minimum 40% of platform-wide trade fees distributed bi-monthly,
- 9% of all xCRX sells distributed as dividends immediately upon each sell.
Buyback and Burn Mechanisms
- Projects that want to open a staking pool on CRODEX will be required to buy xCRX from the market (if the project doesn’t want to use their own reward token) to burn it before the pool goes live.
- Transaction fees will be applied to LP and Single Stake Reward Pools that don’t provide xCRX rewards and they will be used to buyback xCRX.
So, what will happen to CRX & MHUB?
When it comes to CRX, you may be wondering what its future use-cases will be. The permanent halting of CRX emissions will be the first thing to take place. As a result, CRX will experience deflation rather than inflation. When emissions are zero, effective supply is inclined to decrease over time and the price may increase significantly. Additionally, CRX/CRO LP Stake and CRX Single Stake Reward Pools will stay active on CRODEX. This will not only prevent speculation on CRX, but will also allow you to enjoy juicy xCRX rewards!
MHUB will continue to follow its present roadmap and keep increasing its use-cases in the Metaverse Hub.
