Introducing UXP: The Governance Token
Introducing $UXP
We’re excited to introduce the UXD Protocol Token (UXP) the governance token for UXD Protocol. UXP will initially be distributed through a token sale and then be distributed through liquidity mining and other means decided by the DAO. UXP has the following use case:
- UXP token holders will be able to vote on proposals that increase the value of UXD Protocol. Some examples of proposals are:
・Add derivative dex to integrate with.
・Add crypto assets to use as collateral to create delta-neutral position.
・Change how the positive funding rate from the delta-neutral position is distributed.
・Invest the capital in the insurance fund into crypto assets, such as stablecoin swap AMMs.
etc - Cash flow from the delta-neutral position can be distributed to UXP token holders. (This has to be decided by a vote by UXP token holders.)
- UXP tokens will be the last reserve to back the insurance fund, if the insurance fund runs out of funds.
UXP Token Distribution
The UXP token distribution is as follows
Total Supply: 10,000,000,000 UXP
Team: 20%
25% released after 1 year, the rest is released over 3 years linearly.
Investors: 15%
50% released after 1 year, the rest is released over 1 year linearly.
Community: 57%
UXP tokens will be distributed through liquidity mining and through other means decided by the DAO.
Treasury: 5%.
This is reserved for future funds to grow the protocol.
Token sale: 3%
The funds raised from the token sale will be used to capitalize the insurance fund.
Token sale
3% of total supply will be reserved for a public token sale. All funds raised will be used to capitalize the insurance fund to ensure that UXD Protocol has enough reserves to withstand a negative interest rate regime.
Follow us on Twitter and Discord for updates regarding the token sale. The token sale will be held soon!
