Newsletter #15 Fox Trading Tokenomics Revision — October 2020
Fox Trading is a multi-device platform that provides high accuracy signals and auto-trade services for Forex, Binary Options and Cryptocurrency trading https://foxtrading.io/
Today we want to explain our revised tokenomics that was developed with the aim to increase FOXT token utility, provide incentives for FOXT token holders and strengthen overall project position !!!
Utility Scheme and Monthly/Bi-monthly Actions:
Utility/tokenomics scheme:
Utility option 1: Fox Trading project members can get access to the platform services (trading signals/autotrading) via FOXT (ERC-20) token payment (in addition to fiat/crypto gateway payments)
Utility option 2: Fox Trading project member can stake FOXT tokens to get below benefits (details to be announced at staking option release — 1Q-2021):
- initial reward of ~10% APR paid in FOXT (note: APR percentage could be revised based on FOXT token price)
- free platform access for holders with >50k FOXT tokens (note: access to be restricted once staking wallet balance drops <50k tokens)
- additional reward paid in ETH - flexible rewards based on total project revenue percentage (note: higher collected fees from the Fox Trading platform higher reward percentage)
- higher reward percentage from affiliate program (progressive scale)
Utility option 3: Fox Trading project member can join affiliate program to generate passive income from referred users (registered via referral link)
- affiliate program details is being prepared and to be released at the time of program start (planned for 4Q-2020)
- member/user will have option to increase collected fees from referrals via staking option combination (see above section)
Utility option 4: Fox Trading project member can trade FOXT tokens at any available exchanges (e.g. Mercatox/Hotbit at the moment)
Monthly/Bi-monthly Actions:
Fox Trading releases FOXT token buyback & burn strategy:
1. User/member pays for service in fiat (or other options — cryptocurrency converted to fiat):
- Total amount of ~30% of service fees collected from fiat payments will be used for FOXT token buyback, while the rest of ~70% will go to Fox Dev. Team wallet to maintain, develop and enhance the platform services
- Fox Trading team will buyback FOXT tokens in unequal parts at random moments, preferably at several exchanges, to prevent sudden movements in the exchange rate, and to eliminate any predictability in exchange rate developments
- Buyback FOXT tokens will be split in 50/50% ratio and stored/moved to “Burn” and “Marketing” wallets (see section - “Burn” and “Marketing wallets management)
2. User/member pays for service in FOXT token:
- Total amount of service fees collected from payment in FOXT token will be split in 15/85% ratio and stored/moved to “Burn” and “Marketing” wallets respectively.
3. “Burn” and “Marketing” wallets management:
- FOXT tokens in “Burn” wallet will be burnt on monthly or bi-monthly basis (depending on collected tokens amount to optimize gas fees usage)
“Burn” wallet — 0x8d5b791670cbac55708e0da6bee33e6f935932d6
- FOXT tokens in “Marketing” wallet will be used in accordance with project marketing strategy and mainly focused on promotion campaigns, giveaways, promoter’s incentives etc. When needed funds from “Dev. Team” wallet (see Figure 1 - Utility Scheme) will be transferred to “Marketing” wallet in a form of FOXT tokens (additional buyback operation) or spent directly in fiat to facilitate/charge promotion campaigns.
“Marketing” wallet — 0xa2041705cccd615c7cf9dc9f36e60d8f4e2cbf9f
4. Fox Trading adds extra incentives for staking program (bi-monthly basis):
- Portion (~10%) of total platform revenue to be used for Staking reward payment (in addition to FOXT reward) and distributed proportionally to holding amount on the monthly basis in a form of ETH — bought from exchanges at the price of payment date.
Links:
- Official website - https://foxtrading.io/
- CoinGecko - https://www.coingecko.com/en/coins/fox-trading-token
- CMC - https://coinmarketcap.com/currencies/fox-trading
- LunarCRUSH - https://lunarcrush.com/coins/foxt/fox-trading-token
- FOXT token - https://foxtrading.io/foxt-token
- Etherscan - https://etherscan.io/token/0xfbe878ced08132bd8396988671b450793c44bc12
Regards,
Fox Trading Team
