Ecrox Coin (ECROX)
ECROX Coins serve as the native currency of the Ecrox blockchain and platform, akin to ETH on Ethereum. Here's a breakdown of their utility:
Transaction Fees: ECROX is required for paying network fees to validate transactions on the Ecrox blockchain.
Validation: Token holders can stake ECROX to become validators, contributing to network security and consensus. The minimum staking requirement is currently set at 100K ECROX.
Voting: Validators utilize their staked ECROX for voting on protocol changes and governance decisions within the network.
Staking for Delegators: ECROX holders can delegate their tokens to validators of their choice. Delegators receive a portion of block rewards proportional to their stake, minus a minimum 5% fee paid to validators.
Payments: ECROX transfers are fast and cost-effective, as they don't require interactions with smart contracts, making them ideal for regular payments.
It's important to note that mere possession of ECROX does not grant rights to participate in platform governance or revenue streams.
Acquiring ECROX:
Buying: ECROX is available on various centralized (CEX) and decentralized (DEX) exchanges like Gate.io, Uniswap, PancakeSwap, Quickswap, and Voltage DEX. The Coingecko "Markets" page provides comprehensive information on trading volumes and prices.
Farming: The ECROX token is used in liquidity rewards programs (yield farming) to enhance liquidity on DEXes and participation in the Ecrox Lending Network. Details about ongoing programs can be found on the Ecrox website.
Community Rewards: The Ecrox team occasionally rewards community members with ECROX for active participation and engagement. Stay updated through Ecrox's social channels for these opportunities.
Grants and Bounties: ECROX powers Ecrox grants and bounty programs. Refer to the Grants and Bounties section on Ecrox's platform for more information.
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