Announcing the $FXDX Token Generation Event
$FXDX is around the corner! Breaking down our token allocation and distribution plan for community transparency.
Since we closed our seed round in September 2021, we’ve been heads down continuing to build a decentralized exchange protocol for derivatives. We’re fast approaching Binance Smart Chain-based mainnet launch and Algorand-based testnet launch, so we’re taking the time today to explain to the community what they can expect for the $fxdx token generation event (TGE).
$fxdx token is a utility token for the FXDX exchange. $fxdx’s use case will be focused on governance, buybacks and burn, discount on the trading fee, staking, incentives on liquidity on the FXDX exchange and of the $fxdx tokens, and more upcoming use cases. FXDX governance can vote on fee structures and more.
The total token supply of $fxdx will be 1,000,000,000 (1 billion). The supply will be broken down across the investors, team, engagement, liquidity, treasury, and staking.
Investors
20% of the total $fxdx allocation is reserved for early investors of the protocol. Investor allocations are subject to a 12-month vesting period. All investor allocation will unlock over 12 months after the TGE.
Team and Advisors
The FXDX team and advisors are allocated 20% of the total $fxdx supply. The protocol’s team and advisors allocation are subject to a 48-month vesting period. This includes founding team members and investors/advisors such as Borderless Capital and Blockchain Founders Fund.
Our advisors have been allocated 5.5% of the total $fxdx supply. Our advisors joined us long before we got to this moment, and have graciously guided us along this journey, agreeing to push back their vesting periods to align with others. Our advisors are subject to a 48-month vesting period as well.
Treasury
30% of the total token supply is reserved for the FXDX Foundation. The Foundation has a reserve of $fxdx tokens that can be applied towards ecosystem developments, market making, protocol activations, and more. This includes an allocation for strategic investment during the early months and years of the protocol’s launch.
The Foundation has a vesting period of 60-months.
Engagement — community and users
25% of $fxdx supply is reserved for community and user engagement.
We also want to take this opportunity to say thank you to the wonderful community of early adopters and grantors who helped get us here today. To properly show our gratitude, we will be airdropping $fxdx to the following addresses:
- gratitude allocations at the time of token genesis
- early users of the FXDX — BSC testnet
Liquidity and Staking
5% reserved for staking and for providing liquidity. Allocation for staking will unlock over a period of 60 months, whereas allocation for liquidity will be unlocked over a period of 24 months.
What’s next? What is the timeline?
The $fxdx TGE will happen on 28th January 2022! Shortly before the TGE, we’ll be reaching out to all our investors giving them an option to choose from a list of chains for their $fxdx holdings, namely ERC20, BEP20, and ASA. For the tokens on chains with lower transaction fees like ASA, the vesting period would be every day, whereas, for the chains with high fees such as ERC20, the vesting would be monthly.
Follow us on Twitter and join us on Telegram to stay up to date with TGE announcements and FXDX Exchange information.
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As of 28th January 2022, the TGE has been postponed. Please read the following news for more information and follow our Twitter, Telegram, and Medium channels to stay up-to-date.
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Disclaimer
⚠️ Everything related to $fxdx tokens, smart contracts, and their addresses will be only available on official channels. FXDX team members will NEVER DM you ever about anything. Official channels are:
Telegram: https://t.me/fxdxdex
Twitter: https://twitter.com/fxdxdex
