CRODEX has introduced its new, reformed protocol by which it is going to be sharing its platform revenues with CRODEXers. The team keeps working diligently to design and develop a system that provides a seamless experience to our community while adopting the new protocol.
PROTOCOL OVERVIEW
The new protocol consists of 3 elements:
- xCRX is the main token of the protocol
It is tradable and will keep its main liquidity in xCRX / CRO.
It incurs a 9% fee-on-sell. Upon each sell transaction, the entire fee is distributed proportionally to rCRX holders in xCRX as dividend. CRODEX platform does not claim any additional fee.
- rCRX is the auxiliary token of the protocol
It is not tradable.
It acts as a receipt representing its owner’s share of platform revenues and xCRX dividends.
It cannot be transferred to another wallet.
- xVault is the intermediary organ of the protocol
xVault allows users to pledge their xCRX tokens to receive rCRX.
By holding rCRX, the owner accumulates xCRX in their xVault account which they can claim at any time.
Only to be absolutely clear, the accumulating xCRX in the xVault accounts come from two sources:
Min. 40% of platform-wide trade fees distributed bi-monthly,
9% of all xCRX sells distributed immediately as dividends upon each sell.
STAKE & EARN
- The holders of xCRX can stake xCRX-CRO Liquidity Provider tokens or single xCRX tokens to earn rewards.
