Tokenomics
Last updated
Last updated
Token Utility: The AuctionX token ($AUX) serves as the backbone of the AuctionX ecosystem, providing a range of utilities that enhance user experience, incentivize participation, and ensure the platform's long-term sustainability. As a decentralized infrastructure layer for auctions, AuctionX leverages its native token to facilitate seamless transactions, reward users, and enable community governance.
Seamless Transactions: One of the primary utilities of the $AUX token is to facilitate transactions within the AuctionX platform. Users can use $AUX to pay for auction listing fees, place bids, and settle final payments. By using a native token, AuctionX can offer faster, more secure, and cost-effective transactions compared to traditional payment methods, such as credit cards or bank transfers.
Moreover, the use of $AUX ensures that all transactions are recorded on the blockchain, providing a transparent and immutable record of all auction activities. This transparency helps to build trust among users and prevents fraud or manipulation.
Rewards and Incentives: AuctionX employs a rewards system that incentivizes users to actively participate in the platform and contribute to its growth. Users can earn $AUX tokens by listing items for auction, placing bids, providing feedback, or referring new users to the platform. These rewards encourage user engagement and help to create a vibrant and active community around AuctionX.
Additionally, $AUX token holders can stake their tokens to earn a share of the platform's transaction fees. Staking helps to align the interests of token holders with the long-term success of the platform and provides a passive income stream for loyal users.
Governance and Decision-Making: As a decentralized platform, AuctionX relies on its community to make important decisions regarding platform upgrades, feature prioritization, and parameter adjustments. $AUX token holders can participate in the platform's governance by proposing and voting on changes to the platform's smart contracts, fee structures, or reward mechanisms.
The weight of a user's vote is proportional to the number of $AUX tokens they hold, ensuring that those with a larger stake in the platform have a greater say in its future direction. This decentralized governance model helps to ensure that AuctionX remains responsive to the needs and preferences of its user base and can adapt to changing market conditions.
Distribution Strategy: To ensure a fair and balanced distribution of $AUX tokens, AuctionX has devised a comprehensive token distribution strategy that allocates tokens to various stakeholders, including early investors, the development team, marketing efforts, and platform reserves.
Public Sale: A portion of the $AUX tokens will be made available to the public through an initial token offering (ITO). This allows early adopters and supporters to acquire tokens and participate in the platform's growth from the outset.
Development: A significant allocation of $AUX tokens will be set aside for the ongoing development and improvement of the AuctionX platform. These tokens will be used to fund the development team, cover infrastructure costs, and incentivize key contributors.
Marketing and Adoption: To drive awareness and adoption of the AuctionX platform, a portion of the $AUX tokens will be allocated to marketing and promotional efforts. These tokens will be used to forge partnerships, attract influencers, and run targeted advertising campaigns.
User Rewards: A substantial portion of the $AUX tokens will be reserved for user rewards and incentives. These tokens will be distributed over time to users who actively participate in the platform, as outlined in the rewards and incentives section above.
Platform Reserves: A final allocation of $AUX tokens will be held in reserve by the AuctionX platform. These tokens will be used to ensure the platform's long-term stability, fund future development initiatives, and provide liquidity to support the token's market value.
Token Name | $AUX Token (The AuctionX/AUX CoinToken symbol | $AUX )
Blockchain | BASE (Ethereum L2 by Coinbase)
Total supply | 10 billion ($AUX 10,000 million)
Website | https://auctionx.live
First Auction portal based on AuctionX | https://thebig.deals, https://play.thebig.deals
Token contract address | 0x4707eB16C91fCCB10cc9AC56fa51E73D78001a3a
Token price | $0.0025
Full dilution value | $25 million ($AUX 10,000 million @ $0.0025)
Future mint | Supply fixed | Future minting disabled
Token model | Deflationary with burning
In the deflationary model, a set number of $AUX Tokens will ever be created, and this will never be adjusted upwards. This makes a deflationary currency where even as demand increases, supply does not. Theoretically and as evident in other alt-tokens, this kind of model leads to a constant appreciation of the token's value, which is beneficial to all $AUX Tokens hodlers and the AuctionX platform community.
