TRAXX is both a platform and an exchange token that currently facilitates purchases of music-related digital collectibles on TokenTraxx Marketplace. However, with the rollout of new products, the token’s initial and main utility, which allows Creators to monetise their music, will expand.
Among other utility features, the platform’s transactional token will also enable users to
- monetise components, including playlists, by offering these in exchange for TRAXX;
- store, or ‘stake,’ digital collectibles to earn yield;
- obtain rewards for their music consumption by staking TRAXX into playlists.
The onset of the staking utility on the platform will enable TokenTraxx and the Creator to provide access to memberships, VIP rewards and content.
On other platforms
TRAXX can be used on other (CEX and DEX) platforms as well.
To earn rewards, holders are currently able to use their TRAXX for
- staking on AscendEX and XPortal;
- providing liquidity on ApeSwap.