♾️XPX
Meet the RAP token
Last updated
Meet the RAP token
Last updated
XPX is a novel RAP token (Ratcheting Asset Peg) 🔧, akin to a stablecoin pegged to WAX. It operates with a market maker where buy orders are placed for the same amount of XPX sold.
To maintain its peg, XPX employs a strategy where every XPX token sold* is used to buy back the amount sold for a lower price. When the sell order (1m XPX) is cleared, XPX begins ratcheting. Each rachet, the smart contract maker.xpx will start placing orders by increasing the starting price by 2% while maintaining market stabilization mechanisms that rise as well 📈.
up to 5% of supply may be staked in pool instead of on spot market
Because XPX is relatively stable with WAX, each liquidity pools mirrors the WAX pool. Arbitrage bots take advantage of price differences, and you earn volume fees, as well as any farming rewards.
We take a clear fee to provide XPX stakers with value. While our voting tokens provide people voice, our XPX token provides liquidity.
Token Allocation
No team-allocated XPX tokens
No marketing budget
100% of the supply is listed on the market 📊
Reward Pools XPX will consistently feature reward pools 💎 but will never serve as the reward token itself.
Order 1: 68% of WAX at 0.98 WAX
Order 2: 10% of WAX at 0.96 WAX
Order 3: 5% of WAX at 0.92 WAX
Order 4: 5% of WAX at 0.88 WAX
Order 5: 12% of WAX at 0.68 WAX
Together, these result in placing .934 WAX per 1 XPX. The remaining 0.066 is the project fee. All orders and fee are sent by the market maker, maker.xpx which anyone can trigger via the 'partytime' action.
Legal: We do not guarantee this will result in any price or support level at any time.
