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Introducing the $ZTX token
The ZTX token ($ZTX) is the native token of ZTX, enabling protocol level governance and underpinning the ZTX ecosystem as its quote currency.
$ZTX encompasses a wide range of functions designed to support this vibrant ecosystem. The token serves three primary categories of use: governance, purchasing, and in-game utility.
Governance As a decentralized virtual universe, distributed decision-making is of utmost importance. Key functionalities include the ability to leverage one's tokens for active participation in governance processes. Token holders may vote on ecosystem configuration variables such as fee structure and community treasury spending.
Purchasing ZTX will create various in-game assets that enable users to decorate their homes and dress up their avatars, which will be minted as ERC721 and ERC1155 NFTs. These in-game digital items will be sold in a primary offering smart contract with all assets denominated in $ZTX.
$ZTX serves as the default and primary quote currency within the economy, necessitating assets and experiences to be denominated in $ZTX.
In-Game Utility Apart from facilitating governance, $ZTX plays a vital role in powering the overall economy and interactions within the ZTX world. Key aspects of in-game utility encompass:
- 1.Players can spend $ZTX in order to speed up, or even skip, certain in-game functions that are associated with a timer
- 1.For instance, a crafting job lasting 10 hours can be sped up by 1 hour with a 5 $ZTX expenditure.
Token Functions ZTX employs a token buyback program that is funded by a portion of the platform’s revenue.
The token buyback program is designed to drive value to the ZTX ecosystem through one of the below activities:
- Token Buyback & Burn – a portion of the repurchased $ZTX can be permanently destroyed via token burning. This immediately reduces the total supply of $ZTX.
- Incentive Pool – a portion of the repurchased $ZTX is used to replenish the Play Rewards. At scale, this would create a self-sustaining ecosystem for ZTX.
- Treasury – a portion of the repurchased $ZTX is used to fund the Treasury. The Treasury funds may be used for operations, marketing, or other platform expenses.
Supply, Distribution, Emissions $ZTX’s total supply will be fixed at 10,000,000,000, with the TGE slated for October 16th, 2023.
Distribution and Vesting Periods