Article Summary, Automatically Generated By AI
Summary of xCRX Protocol
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Protocol Overview:
3 elements: xCRX, rCRX, and xVault -
xCRX:
main token, tradable, 9% fee-on-sell, dividend to rCRX holders -
rCRX:
auxiliary token, non-tradable, represents share of platform revenues and xCRX dividends -
xVault:
intermediary, allows users to pledge xCRX for rCRX, accumulates xCRX from 40% platform-wide trade fees and 9% xCRX sells -
Stake & Earn:
holders of xCRX can stake xCR
About xCRX: Empowering the Future of Decentralized Finance
CRODEX has unveiled a revamped protocol, pioneering a novel approach to revenue sharing with its esteemed CRODEXers. The dedicated team is tirelessly working to craft a system that provides a seamless and intuitive experience for our community, seamlessly integrating the new protocol.
PROTOCOL OVERVIEW The novel protocol is comprised of three integral elements:
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The xCRX token serves as the primary token of the protocol, facilitating tradability and maintaining its primary liquidity in the xCRX/CRO pair. A 9% fee is incurred on every sell transaction, with the entire fee being proportionally distributed to rCRX holders in the form of xCRX dividends. Notably, the CRODEX platform does not claim any additional fees.
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rCRX, the auxiliary token of the protocol, is non-tradable and functions as a receipt, representing its owner’s share of platform revenues and xCRX dividends. It is non-transferable to another wallet, ensuring a secure and exclusive ownership experience.
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xVault, the intermediary component of the protocol, enables users to pledge their xCRX tokens in exchange for rCRX. By holding rCRX, owners can accumulate xCRX in their xVault account, which can be claimed at their discretion. To provide absolute clarity, the accumulated xCRX in xVault accounts originates from two distinct sources: a minimum of 40% of platform-wide trade fees, distributed bi-monthly, and 9% of all xCRX sells, distributed immediately as dividends upon each sell transaction.
xCRX serves as the primary token of the protocol, boasting tradability and maintaining its principal liquidity in the xCRX/CRO pair. Notably, it is subject to a 9% sell-side fee. Upon the execution of each sell transaction, the entirety of the fee is proportionally distributed to rCRX holders in the form of xCRX dividends. It is worth noting that the CRODEX platform does not impose any additional fees.
rCRX serves as the auxiliary token of the protocol, functioning as a non-tradable receipt that represents its owner’s stake in platform revenues and xCRX dividends, and is non-transferable to another wallet.
xVault serves as the intermediary entity within the protocol, empowering users to pledge their xCRX tokens in exchange for rCRX. By holding rCRX, the owner accumulates xCRX in their xVault account, which can be claimed at their discretion. To provide absolute clarity, it is essential to note that the accumulating xCRX in xVault accounts originates from two distinct sources: a minimum of 40% of platform-wide trade fees, distributed bi-monthly, and 9% of all xCRX sales, distributed immediately as dividends upon each sale.
STAKE & EARN – Holders of xCRX can participate in a lucrative staking program, where they can stake xCRX-CRO Liquidity Provider tokens or individual xCRX tokens to reap rewards.