š§What is ELX?
Value and Governance Token of the XEX Ecosystem
ELX is expected to be launched in Q3 of 2024. š³ļø What is the purpose of the ELX token? Although the details for the ELX token have yet to be finalized, the XEX Labs team will follow a core set of principles regarding the use of ELX within our ecosystem:
ELX will be used to vote, make proposals, and manage the XEX Labs ecosystem.
ELX can be staked to earn a portion of fees generated by the XEX Ecosystem, where yields can be boosted by Xexadon Staking.
ELX can be staked on any chain we support, with the overall yield being dependent on the chain's activity and fees generated.
ELX will be used to store the value created by the XEX Ecosystem by being the main layer of liquidity across all chains.
XEX can be converted into ELX through a process known as 'Refining', which generates revenue for ELX stakers.
Warping and swapping ELX will generate revenue via a small tax, which will be gradually reduced to 0% as our ecosystem matures.
A portion of the ELX supply will be distributed to Xexadon Stakers, XEX Minters, and Active Community-Members via an airdrop.
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