Tokenomics
Last updated
Last updated
To balance the interests of liquidity providers and token holders, BaseX uses a dual-token model that splits utility $BXT
and DAO $BDT
functions within the protocol. This separation helps allocate resources for governance effectively without being negatively affected by excessive demand for utility purposes, resulting in a fairer system for all users.
Weekly emissions (at inception): 750,000 $BXT
Weekly emissions decay: 1%
Weekly developer wallet allocation: 2%
Weekly veBXT
rebase: Up to 30%
Emissions for liquidity providers: 68%
$BXT
- ERC-20 BaseX Utility Token$BXT
is the native utility token of BaseX, providing users with a range of utility functions within the platform, including staking and voting. Users can either earn protocol fees or accrue BaseX DAO tokens by staking their $BXT
veBXT
- ERC-721 BaseX Governance TokenveBXT
is the vote-escrowed version of $BXT
. Users can lock their $BXT
tokens for up to 2 years to get veBXT
. The longer the lock, the higher the amount of veBXT
voting power received.
The lock period an be up to 2 years, following the linear relationship shown below:
100 $BXT
locked for 2 years will become 100 veBXT
100 $BXT
locked for 6 months will become 25 veBXT
To encourage continuous locking and sustained participation from stakeholders, the veBXT
balance of users declines over time until it reaches zero at the conclusion of the initial locking period. veBXT
positions can be increased, split up and resold on a secondary market.
veBXT
UtilityRevenue Access for Protocol:veBXT
holders can engage in weekly gauge voting, granting them access to 50% of the trading fees and all bribes from the relevant pool.
veBXT
Voters:Earnings from trading fees of voted pools.
Receipt of bribes for voted pools.
Regular $BXT
distribution (rebase).
veBXT
Details ve(3,3) Concept: This merges the anti-dilution rebase mechanism of Olympus DAO with Curve's vote-escrowed model, as introduced by Solidly's ve(3,3) Mechanics. It limits dilution of veBXT
holders to 30% and allows for dynamic veBXT
distribution over time.
Gauge Feature: Pools with varying $BXT
rewards determined by weekly veBXT
voting. No negative votes. Bribery System: Third parties can offer custom tokens to veBXT
holders in exchange for votes in a gauge.
Maximum Lock Period: 2 years.
Flexibility: veBXT
positions can be combined, divided, or traded on secondary markets.
Voting Process:
Epochs last 7 days, with rewards distributed post-epoch. Earnings are exclusive to voted gauges.
Trading fees and bribes are claimable in total after the succeeding epoch (n+2).
Consistent weekly voting is required for reward eligibility, unless an optimizer is used.
Votes can be altered or reset at any point.
Vote weights are reset each epoch, necessitating continuous voting for fee and bribe acquisition.
$BDT
- ERC-20 BaseX DAO Token $BDT
is the governance token of BaseX DAO. $BDT
holders have the governance rights over the DAO and management rights of the DAO Treasury.
Category | Supply % | Amount | Vesting |
---|---|---|---|
Airdrop Season
5%
2,500,000
Locked as veBXT for 2 years
Ecosystem Fund
27%
13,500,000
75% unlocked, 25% linear vesting for 2 years
Adoption Incentives
22%
11,000,000
Locked as veBXT for 2 years
Investors
3%
1,500,000
30% unlocked, 6 month cliff, 70% linear vesting for 3 months
Public Sale
10%
5,000,000
IDO (1.25%) : 30% unlocked, 70% linear vesting for 6 months; LBP (8.75%) : 100% unlocked
Team
10%
5,000,000
6 month cliff, linear vesting for 18 months
DAO Treasury
23%
11,500,000
3 month cliff, linear vesting for 21 months
Total
100%
50,000,000
Initial Circulating Supply: 15,137,500