What is the tokenomics of XDC Network?
The tokenomics of XDC Network is based on the XDC01 token, which is an ERC20-based utility token.
The XDC01 token is used to facilitate transactions and payments within the XDC Network. It also serves as a medium of exchange between users and merchants. The total supply of XDC01 tokens is 1 billion, with a circulating supply of 600 million tokens.
The remaining 400 million tokens are held in reserve for future use. The main purpose of the XDC01 token is to facilitate transactions and payments within the XDC Network. It also serves as a medium of exchange between users and merchants.
The token can be used to pay for goods and services, as well as to purchase other digital assets such as cryptocurrencies or stablecoins. In addition, the XDC01 token can be used to access various features within the network such as smart contracts, decentralized applications (dApps), and data storage solutions. Furthermore, it can be used to reward developers who contribute to the network’s development and growth.
The XDC Network also has a staking program that allows users to earn rewards by staking their tokens in return for rewards in form of additional tokens or discounts on fees when using the network’s services. This helps increase user engagement and incentivizes long-term participation in the network’s ecosystem.
