EMRX: Lockups and vesting, Token burn and reward programs
UAE or United Arab Emirates is one of the richest nations in the world and Emirex Group is a blockchain corporation based on Dubai, the capital of UAE. UAE has 7 states with sizable natural resources making it a suitable center for all the financial markets of the world. Certainly, the Middle East has become the center of the world in the last few decades combining the markets of Asia, Africa, and Europe. Currently, Emirex provides one of the fastest and safest platforms in the cryptocurrency market with the launch of the EMRX token. Since the crypto market is moving towards rapid growth in the next few decades, Emirex already finished designing the key features of the token like- Lockups and vesting, token burn, payment, and reward programs. Today we will look at the features briefly-
1. Lockups and Vesting: Emirex will apply lockups and vesting to the tokens allocated to the Emirex team, partners, and reserves. As a result, the Emirex team will give their best to make the platform resourceful. The team bonuses will be vested each quarter for three years. EMRX token smart contract will control the vesting procedure. The team tokens will be vested for 5 years at 5% each quarter. Long-term partners will get a vesting term of 2.5 years at 10% each quarter. And another reserve of tokens will be ensured to pursue lucrative time-limited opportunities.
2. Burning the token: Reducing the total supply of token is a process that can’t be done in the traditional monetary system. For the fiat currency, central banks can only supply more money by printing new notes creating hyperinflation in the process. But cryptocurrency tokens and coins can be removed from the circulation by burning it if the supply is surplus in the market than the demand. According to the master plan of Emirex, it will burn up to 50% of originally issued 500 million EMRX when the supply reaches 250 million.
3. Payment system: EMRX can be used as a digital payment module for the users. They can use the token for the products and services of the Emirex Group. Moreover, if the users pay fees in EMRX like- transaction fees, listing and application fees they will be entitled to get discounts. Priority participation in IEO projects will also be ensured to the users.
4. Reward Programs:
a. Community Reward Program: Community reward program is a good way to create a new user base from the existing users. Active users will get a community reward for their contribution. The programs will be designed depending on the groups of stakeholders. For example, rewards for investors who are active, benefits for asset issuers, rewards for contributors.
b. Referral Program: Referral programs are a very attractive way to gain new users. The current user will refer the Emirex products to a new user and will gain an additional benefit for the referral. Users using the referral program will enjoy bonus in EMRX when the new user registers.
c. Community Voting: This is an exciting new feature. No other cryptocurrency before tried such a feature to retain the customers. If a user holds EMRX tokens he/she will be able to participate in the polls. The poll system is known as a community voting poll. Emirex team is expecting a rise in functionality when community voting technology will be available to the users.
All of information is here given below
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