Tokenomics
ENGX Token Framework
Last updated
ENGX Token Framework
Last updated
$ENGX is the native utility token within the EngageX ecosystem, with a capped supply of 1 billion tokens. It features a distinctive transaction fee model, imposing a 5% tax on both buys and sells to support its operational and developmental frameworks. Detailed information regarding the allocation of these tax revenues can be accessed here.
Our vision for $ENGX centers on accessibility and widespread availability. To achieve this, we're leveraging the LayerZero OFT Token Standard for its creation, ensuring a streamlined process for future expansions across both EVM-compatible and potentially non-EVM chains.
Initial deployment will occur on BASE, with plans to extend to Ethereum and Binance Smart Chain shortly after the bridge is set up. Our ambitious roadmap targets an expansion to include Arbitrum, Polygon, Optimism, Blast, Avalanche, and Solana within the first 3 to 6 months post-launch.
An integral advantage of our multi-chain strategy lies in its contribution to decentralization and resilience. By establishing a presence on multiple blockchains, we mitigate the risks associated with reliance on a single chain. This decentralization ensures that the potential downtime or failure of one blockchain does not significantly impact the overall availability or functionality of $ENGX. Such a strategy enhances the robustness of the EngageX ecosystem, offering our users and token holders a more reliable and uninterrupted experience.
The $ENGX token is designed as a versatile tool within the EngageX ecosystem, facilitating a variety of engagements:
Brands: Utilize $ENGX for settling fees associated with campaigns and promotions, availing of significant discounts.
Users: Subscribe with $ENGX to unlock enhanced perks within the EngageX ecosystem.
Token Holders: Participate in the StakeBoost Program by staking $ENGX tokens.
Liquidity Providers: Contribute to liquidity pools on supported DEXs and stake LP tokens in our LiquidBoost Program.
In alignment with our long-term vision, we plan to establish a DAO to transition governance of the protocol to our community, particularly active participants in the StakeBoost and LiquidBoost programs. This democratic framework will empower token holders to propose and vote on pivotal developments and policy adjustments within the EngageX ecosystem, ensuring that it remains responsive to its users' needs and aspirations.
