[ARCHIVE AUG, 2022] BlockX Tokenomics — Massive BCX Burn and Community Bonus

400 Million BCX Burn + 50% Bonus for Community

The BlockX community is one of the most loyal crypto communities and we have been together through thick and thin and over several ups, downs, and delays in the last 12 months as both the markets and the world is changing around us. And so it’s only fair that the community gets rewarded for this. Here are a few announcements for that:

1. Massive 400 (40%) Million BCX Burn

BlockX’s current supply is 1 Billion and we will burn 400 Million BCX tokens from the treasury to increase the stake in the network of the early community. This Burn will have a similar effect to giving a 30% Bonus. After the burn the pre-inflation supply will be reduced to 600 Million.

The BCX burn will take place on Monday 12th September 2022

2. Conditional 0.5X Bonus on BlockX Smart Chain BCX-20 Token

Secondly, as you know we are launching our BlockX MainNet soon. The current timeline to launch the Mainnet is at the end of October 2022. Upon the MainNet launch, users can swap their multichain tokens to BCX MainNet tokens for 1:1 both ways via a bridge as BlockX will remain Multi Chain.

In addition to the 1:1 swap, all the current community holders of the BCX token will receive a 0.5X Bonus. Hence if you hold a 1000 BCX, you will receive 500 BCX on the Mainnet swap. However, the 500 BCX additional bonus tokens will be vested across 24 months, meaning every month 1/24th of the amount will be available to withdraw.

The Snapshot of addresses , holdings and staked rewards for the one-time 0.5X community MainNet bonus will be taken on 12th September 2022 , 9am ET.

There are some conditions to receiving the 0.5x additional MainNet bonus as follows

• No participation in any unofficial private DEX liquidity pools or trading between September 7 — October 31, 2022. If any such trail of participation is found, we will revoke the 50% bonus on those addresses (including addresses from where BCX was transferred). BlockX will be working with DEXs like pancakeswap and APEswap to open official liquidity pools and we will be supporting exchange listings. Addresses or members connected to those participating in unofficial DEX pools maybe be banned from future BlockX ecosystem products. Trading opens 31st Oct 2022
• Good Behavior in the community and no malicious remarks or activity detected by the wallet address owner.
• No trading until Oct 31

For those who bought tokens in other Launchpads, we will coordinate with the Launchpads to provide the same Bonus tokens for pre-Sep 12 purchases

Last Community Round

The last and final BCX community round is now open 7-12 September 2022 6.00 AM ET. This round will include 50% Bonus MainNet tokens as it is before the Snapshot. So hurry up to get your final purchase.

Buy BCX at https://invest.blockxnet.com/token/bcx

September 7–12 2022

Use of Funds of these rounds are

• External Audit of BlockX MainNet chain
• External Audit of BCX Bridge
• Market-Making Fund for DEX and Exchanges
• Initial Server cost
• Listing fees
• Product Development
• Hype Advertisements & Digital Marketing

Public Round, IEOs and Listing

Public rounds & IEOs at exchanges and launchpads after Sep 12 and before Listing on Oct 31 may be conducted but without the Mainnet 50% Bonus and will have a vesting period.

‍

Staking

BlockX Staking is ongoing with APY above 133%. Enjoy high returns on BCX Staking. https://staking.blockxnet.com/ . Direct Staking will halt after transitioning to the MainNet in October. However, existing staked tokens and rewards will always be available to withdraw. After the MainNet Launch Staking can only be done by Delegators via Validators.

Staking 100%+ APY is Live at https://staking.blockxnet.com/

AMA will be organized on 15th September 2022 for more news on Tokenomics & MainNet Launch. Stay tuned on our community for joining details.‍

In addition to the economic benefits, the above two steps are taken to make the network more community owned and decentralized. We will also be setting up BlockX Governance Portal for users to post Proposals and Vote on them. We are very serious about decentralization and in the next few weeks, we will make some structural changes to make sure we can build a truly democratic network owned by the community.

Thanks again for being with the BlockX community. We are in the last phase of the pre-listing and pre-Mainnet era and hope to cross that milestone soon together.

‍