WMX Utility
WMX, the native token of the wmx.fi ecosystem, is designed to be at the core of the platform's functionality and community engagement. This document outlines the various utilities and roles WMX plays in the ecosystem.
Governance
- Description: WMX token holders can participate in governance decisions, proposing and voting on changes to the platform.
- Impact: This fosters a decentralized and community-driven approach to platform development and policy-making.
Staking Rewards
- Description: Token holders can stake their WMX to earn rewards, contributing to the platform's security and stability. They will cover the insurance pool in case of bad debt.
- Impact: Encourages long-term holding and active participation in the ecosystem's growth.
Fee Reduction
- Description: Holding WMX tokens may offer reduced fees on trading and other transactions within the platform.
- Impact: Adds value for active users and traders, promoting increased usage of the platform.
Liquidity Mining
- Description: Users can earn WMX tokens by providing liquidity to certain pools, incentivizing a robust and healthy liquidity environment.
- Impact: Ensures deep liquidity on the platform, essential for efficient trading and reduced slippage.
Community Rewards
- Description: WMX can be used to reward active community members for contributions like content creation, bug reporting, and more.
- Impact: Strengthens community engagement and platform development through collaborative efforts.