What Is Position Exchange (POSI)?

Position Exchange is a decentralized cryptocurrency platform aimed at bridging the gap between people and cryptocurrencies while also improving the DeFi experience. As the whitepaper states, the protocol is completely owned and operated by its community. The platform seeks to provide users with a wide range of DeFi products in an open, transparent, and trustless system where everything happens on-chain (on the blockchain). The platform is designed to provide all of the benefits of decentralized finance while incorporating traditional centralized finance tools and experiences.

The POSI token, the native utility BEP-20 token of Position Exchange, serves as the backbone of its ecosystem. Holders can use a variety of benefits and use POSI in other platform features. All fees and earnings generated by the protocol are allocated to all POSI holders using an on-chain method called Buy-Back and Burn. Buy-Back and Burn is a mechanism in which the platform buys the tokens and burns or destroys them by sending them to an unusable or invalid wallet address. Burning of the token is done to decrease the circulating supply so that the value of the token increases. 

Furthermore, POSI holders seek to have various benefits such as the following:

• Through staking POSI tokens in staking pools, POSI token holders aim to receive rewards. Hence, holders can earn passive income.

• POSI holders can participate in the platform's governance by proposing and voting on modifications.

• While simply holding the tokens, POSI token holders seek to share a 1% fee from transactions.

• Trading protocol fee discounts are available to POSI token holders.

• POSI tokens can be used to cast NFTs.

History of Position Exchange (POSI)

As stated in the whitepaper, the project's team and collaborators are multidisciplinary, with substantial experience in programming, smart contracts, blockchain, finance, trading, and cryptocurrency. For the earliest stages of the project, the crew has agreed to remain anonymous. This decision was made after much thought regarding the nature of Position Exchange and how to create trust in the POSI project's potential rather than in individuals.