Introduction
Developing a digital currency of a blockchain project or cryptocurrency company remains one of the foremost and basic things to achieve. Ferox project, as a decentralized exchange and trading platform, also needs to create its digital asset, which will enable it to perform certain objectives, as well as reward active members of its community, and generate revenue. Similar to most blockchain projects, Ferox has earmarked certain proportions of its total tokens in circulation for specific distributions, which will allow Ferox’s management and development team to improve the platform’s penetration and adoption among other competitors. This refers to the Tokenomics of a blockchain-powered project. In this article, we will look at various ways the token of Ferox project, denoted as FRX, is utilized by token holders and the management team.
Depending on any intended plan of the founding team and owners of a blockchain project and the structure and trajectory of their objectives, we can be aware of the utility of a digital asset. Sometimes, this is dependent on what the framework and service are all about. For a decentralized payment platform, the likely usage of tokens will be for payments for purchases made, whereas a decentralized finance network will have an entirely different use of its tokens, possibly for making cross-border transfers and business transactions. For the Ferox project, a trading and exchange platform, the token utility will differ from these other two.
FRX Token
The development team built the Ferox token on the TRON blockchain network, and during the launching stage of the project, it will trade at 1Tron coin = 1 Ferox token. The total number of FRX coins in circulation will be 700 million; however, this amount will be split into two sections. There will be a minting of about 400 million tokens during the initial trades and circulation scheduled for 12 months. The remaining 300 million tokens will remain locked until December 2021.
The Ferox Advisors, during its development and launching of the network, received the foremost private funding, and this was when the business was worth about 5 million USD. Hence, the TRX value will be placed at an average of 0.02 USD and the early shareholders of the project will have more benefits during the initial token offering.
In earlier stages, FRX tokens will be listed on several reliable exchanges and decentralized exchanges, and customers can purchase them there. However, tokens will be available on the project’s platform, and the price will be comparable to the mean market price or the originally distributed price of 1 TRX, whichever is higher.
Aside from a key feature, as a stakeholder, in the windbreak fund, FRX assets will be preferred to perform stakes right from the system mentors' website. The stakes will be an advanced version whereby customers can perform daily speculations on the fluctuation of prices of principal digital currencies and assets in the market such as silver, Ethereum, Bitcoin, and gold. Also, users can engage in the payouts plan secured by smart contracts supported through the FRX token. Rewards and bonuses will be paid to users who use the FRX token to perform DeFi characteristics such as liquidity mining. Participation in staking exercise is also accessible on Ferox’s network and all revenue generated by every customer, who is a token holder, goes to the user on a monthly interval.
USEFUL LINKS
Website: http://feroxadvisors.com/frx
Telegram: https://t.me/FRXalpha
Twitter: https://twitter.com/feroxadvisors
Medium: https://frx.medium.com/
Github: https://github.com/opentron/opentron
AUTHOR'S DETAILS
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