sTOX Token and Stox Subnet
We want to create an anonymous and autonomous knowledge sharing community with many metaverse and real-world benefits at the same time.
To be able to continue to scale Stox after the lock-up period and to better incentivize the usage of Stox; we decided to utilize a new paradigm; subnets and subnet-restricted tokens.
Staking TOX emits sTOX (subnetTOX) which is the in-app utility token of the Stox ecosystem.
sTOX will be subnet bound and provide the following perks to holders:
Discounts on commissions Stox will start providing swaps inside the app. This will be done by connecting wallets via trusted third-party services which will be upgraded to in-app non-custodial wallet creation or import. Holders will enjoy varying degrees of discounted commissions when such fees are paid in sTOX.
Discounts on partner services sTOX will give access to top quality crypto and finance services with benefits such as discounted prices, free upgrades, or special promotions.
Trading contests Late 22/Early 23, we will start our trading contests. These contests will have different entry requirements, larger tickets having larger payouts. Holding and staking sTOX tokens will be required to participate in such contests. Non-participating sTOX token holders will be able to stake their sTOX token and choose one of the players as their champion. The amount generated by the yield will be distributed among the group of Stoxers who have correctly guessed the winner.
Trading bets It’s easy to make up ideas. sTOX tokens can be used by community members who post ideas to ‘boost’ their place on the feed. They stake and risk sTOX tokens but in return they get rewarded disproportionately if their prediction is realized. Price check will be made by using decentralised oracles.
Liquidity pools and staking Holding sTOX tokens will unlock restricted pools with high yields, innovative products and new strategies for staking.
1 TOX staked will mint 100 sTOX on the subnet. To unstake 1 TOX, 100 sTOX needs to be burned.
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