What Is Exosis (EXO)?
Exosis (EXO) is a decentralized token that solves the problem of heavy transaction fees and low confirmation speed for the users. Exosis started as a Bitcoin fork coin, but due to proof-of-work (PoW) mining issues and 51% attack, the token shifted to ERC-20 token standard. Later, the team realized the risk of users facing network fees and confirmation speed and deployed the token on multiple blockchains. The token allows users to get more options and benefits on different chains. EXO introduces a way for users to trade, invest, and swap cryptocurrencies between popular networks by creating more community-based products. The products include decentralized exchange (DEX), P2P lending, non-fungible tokens (NFT), P2P trading, etc.
Exosis features a Protocol Validator that allows users to swap the tokens from one chain to another without access to the user’s funds. Also, the Protocol Validator prevents excess generation of tokens via staking on multiple chains. If the community wants to make any changes in the protocol, the users on tier 3 staking can vote for the protocol proposal or maintain the same protocol. The approval rate for any decision in the community is 70%.
EXO is the native token of the Exosis token. Users can utilize EXO tokens as fees to execute all the functions in the token. The users can also use EXO in transferring, staking, voting, chain swapping, etc. EXO calculates the transferring, staking, voting, and chain swapping fee based on the market price and charges an additional 10% fee to use the service. The token burn aims to create demand and value of the token. Burning a coin refers to the act of transferring a token to an account that can only receive them. This is done intentionally to remove the token from circulation permanently.
Moreover, the token also helps users earn a passive income from staking EXO with a relatively lower risk. EXO calculates rewards based on the number of EXO staked.
History of Exosis (EXO)
The token came into existence in 2018. The maximum token supply of EXO token is 21,000,000 EXO.
