Dubai, UAE, March 30, 2022 (GLOBE NEWSWIRE) — The Xodex team is pleased to announce its zero fee blockchain and ecosystem project. The Xodex Blockchain is a “high-speed zero-fee blockchain with DeFi protocols, NFT projects, and dApps that will facilitate the creator’s economy with cross-chain exploration.”
The fully anonymous and disruptive innovation is a multilevel blockchain ecosystem/no-KYC exchange with dApp features that aid creators in funding & cross-chain development on the Xodex Platform.
The team launched their token and got off to a fantastic start, currently it is sitting at x8 in price from launch, with a starting market cap of 350k to a current 2.5M market cap at the time of writing, their pre-sale sold out rapidly and their launch was hosted by a very entertaining video chat where BNB prizes were given away to listeners for answering trivia challenges along with virtual races.
The team’s goal is to offer high transaction throughput up to 100tps with its blockchain at almost zero cost to users. It also promises a Proof Authority consensus that fully utilizes the powers of decentralization by combining it with a scalable, streamlined, end environment-friendly transaction processes. That’s in addition to its integration with NFT projects, DeFi protocols, decentralized applications, MetaVerse, and gameFi.
The team offers users rewards and benefits if they stake their tokens. They are guaranteed up to 100% APR in BUSD stable coins for holding their tokens to support the network. More so, token-holding users will also “get first access to the many projects to be launched on the ecosystem,” according to the team.
5% of the total supply has been burned on launch an another 5% will be burnt after launch, Buy backs and token burning will also be done periodically as dictated by market conditions and volume.
Xodex is also a decentralized cryptocurrency exchange with attractive features such as low fees, no KYC, and an NFT marketplace. Users can lend, trade, earn, borrow, and stake tokens on the exchange with minimal trading fees while operating anonymously.
The exchange’s features include:
- Low fees.
- Spot trading.
- Peer-to-peer (P2P) trading.
- Futures leveraging trading.
Native token (XODEX)
Xodex has a native token that its users can use for trading. The token offers these benefits:
- Fee discount on Xodex Exchange.
- BUSD rewards.
- It is acceptable for payment on the Xodex payment gateway.
- It offers high APY investment taking.
- It can be listed on Xodex and a variety of other credible exchanges.
- Users will receive discounts on purchases they make on the ecosystem with the token.
The Xodex team charges 11% on sell and buy, and normal fees on all other transactions performed on the platform. The tax is earmarked for product growth support and staking rewards. Over time, the tax will be lowered to 0% as it is reduced in conjunction with production.
The tax will be shared as shown below:
4%: This is dedicated to project development. Tokens from this wallet will also be manually burned to reduce the amount of coins in circulation and thereby increase liquidity, a smart move that will benefit all token holders.
3%: Holders who stake their tokens will receive BUSD from the volume earmarked for that purpose.
3%: Another 3% goes into marketing to give the project maximum publicity, a great way to increase its value.
1%: 1% of the tax is dedicated to a monthly charity donation which is chosen by the community.
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