Ecrox Chain Documentation
  • Summary
  • DOCUMENTATION
    • Learn about the Ecrox Platform
      • Ecrox Overview: vision, strategy and platform components
      • The Ecrox Blockchain
        • Discovering the Network
        • Ecrox Consensus
        • Delegation through Staking with Validators
        • Ethereum (EVM) Compatibility and Smart Contracts
        • Boosting Ecrox's Scalability
      • Ecrox Coin (ECROX)
        • ECROX Tokenomics
        • Exchanges, Wallets, On-Ramps and DeFi Tools Supporting ECROX
        • ECROX on Other Chains
      • Interoperability
      • Ecrox Governance and Development
      • Wallets supporting Ecrox
    • Ecrox for Business
    • Things you can do on Ecrox
      • Interacting with the Ecrox Blockchain
      • Ecrox Ecosystem
      • Community
      • Grants and Bounties
  • Developers
    • Network Details
      • Ecrox Mainnet
      • Ecrox Testnet
      • Token Faucets
      • Network Upgrades
        • Upgrade Guide
        • Upgrade Guide (explorer nodes)
        • Block 13,800,000 Fork
        • FIP's
    • Ecrox Consensus
      • Contracts Overview
      • Stake, Delegate and Withdraw
      • Vote
      • End-of-Cycle Flow
      • Contract Addresses
    • How to run network nodes
    • Resources & Tools
      • TheGraph
      • WalletConnect on Ecrox
    • How to become a validator
      • Getting started as a validator
      • Getting started as on the Ecrox testnet
  • Links
    • Facebook
    • Twitter
    • Instagram
    • LinkedIn
    • Medium
    • Reddit
    • Pinterest
    • Youtube
    • GitHub
    • Telegram Group
    • Telegram Channel
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  1. DOCUMENTATION
  2. Learn about the Ecrox Platform

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:

  1. Transaction Fees: ECROX is required for paying network fees to validate transactions on the Ecrox blockchain.

  2. 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.

  3. Voting: Validators utilize their staked ECROX for voting on protocol changes and governance decisions within the network.

  4. 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.

  5. 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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Last updated 1 year ago