The $XOXNO Token is developed to play a critical role and serve as the key facilitator for transactional processes and engagement mechanisms within the XOXNO ecosystem. The token plays a crucial role in enabling transactions and rewarding participants within the XOXNO ecosystem, which includes a vibrant marketplace for non-fungible tokens (NFTs) and prospective collaborations with web2 brands. Its strategic importance lies in both its utility as a digital asset and its capacity to integrate and enhance the diverse aspects of the XOXNO ecosystem.
xShard: Sovereign Shards will enable the usage of $XOXNO token as a gas payment token, while for our validators that will run the entire shard $XOXNO is part of the requirements to run the nodes as each validator will have to use the $XOXNO via the liquid staking contract to get $sXOXNO. Validators will have to stake in a pair $sXOXNO with $xEGLD (our liquid staking token for EGLD) in order to join the eligible list of nodes. More details will be described about the process closer to the official launch of the product first by MultiversX foundation and then by us.
XOXNO Real Yield Liquid Staking: Users can stake their $XOXNO tokens in exchange for $sXOXNO. The benefit of holding $sXOXNO stems from its capacity to accumulate rewards from the XOXNO Accumulator as holders of $sXOXNO will receive a portion of the tokens accumulated in the pool, thereby providing an attractive incentive for long-term engagement and investment in the XOXNO ecosystem.
