🛠️Overview

This section provides a comprehensive overview that shows the integration of the XOXNO token into a variety of activities, ranging from incentivizing user participation to facilitating transactions. The diverse utilities of the token reveal its potential to drive the platform's economy and enhance the user experience, thereby ensuring the long-term success and relevance of both the XOXNO token and the XOXNO platform.

XOXNO Liquid Staking

XOXNO's innovative liquid staking model presents a unique approach within the blockchain ecosystem, particularly in how it handles the accumulation of interest. In this system, when users stake their XOXNO tokens, they receive sXOXNO in return, symbolising their staked position. Unlike conventional staking mechanisms where rewards are typically distributed by the network or token providers, XOXNO's rewards are uniquely generated from the fees and revenues accrued across various platform services. Thereby, the APR will be dynamic and will be dependent on the circulation of XOXNO within the platform.

XOXNO Burner

XOXNO encompasses a comprehensive strategy of token burning integrated throughout the ecosystem. An overview of how burning is integrated throughout the XOXNO ecosystem is available in the dedicated section XOXNO Burner.

XOXNO Payments

A variety of services within the XOXNO ecosystem can be paid for using XOXNO tokens with a discount rate which varies according to the service. From the payment made in XOXNO, 50% is allocated for burning, enhancing the token's scarcity and value, 10% is directed to the treasury, and the remaining 40% is funneled into the liquid staking protocol, rewarding and incentivizing token holders. The following list outlines the services available within the XOXNO ecosystem that can be paid using XOXNO tokens:

• Web Platform Pro Subscriptions

• NFT Ticketing System

Purchase Gateways

The platform will integrate advanced purchase gateways, and thereby provide users with the flexibility to acquire NFTs using either fiat currency (through xMoney integration) or cryptocurrencies (e.g., through Binance integration). This dual-method purchase functionality will cater to a much broader range of users, simplifying the process of entering the NFT space regardless of their preferred method of payment. Users will be eligible for a discount ranging from 1 to 5% on gateway fees, contingent upon the quantity of XOXNO tokens they hold.

NFT Lending Protocol

Recognizing the evolving dynamics of the cryptocurrency ecosystem and the shift from profile picture and conventional NFTs to tangible assets, we have embarked on the development of a NFT lending and borrowing framework. The XOXNO token serves as the cornerstone of this protocol and has several roles:

• A portion of the liquidation fees will be used to buy back XOXNO, whereby some tokens will be burned and some will be redistributed back through XOXNO liquid staking.

• A portion of the fees from borrower interest will convert various collateral tokens into XOXNO.

• The token will enable voting on critical decisions, such as the eligibility of NFTs within the protocol, limits per NFT collection, liquidation thresholds, and settings for enabled money markets.

eGLD Liquid Staking

XOXNO's established funding history and the debut of the XOXNO Staking provider have set the stage for launching an advanced liquid staking protocol on MultiversX. This endeavour is aimed at developing a protocol that resonates more closely with MultiversX's vision, offering a sophisticated and innovative alternative to the existing liquid staking options in the market. The liquid staking protocol will be incorporate into XOXNO's native mobile app. This integration is strategically designed to appeal to a wide range of users, encompassing both regular web2 users, such as festival attendees, and crypto-native individuals active in the NFT marketplace. The XOXNO token is designated to be used exclusively for governance decisions pertaining to this protocol, ensuring that token holders have a direct influence in shaping its direction and policies.

XOXNO Governance

XOXNO's on-chain governance system enables holders of the XOXNO token to directly participate in voting for changes to the XOXNO ecosystem. More information regarding the governance system is provided in the Governance section.