The TRAXX Token
Facilitates the purchase of NFT and is a medium of exchange on the Traxx Market Place.
The utility available on the Traxx Platform will evolve and be accessible by use of the TRAXX Token. As the platform become more sophisticated it is anticipated this will comprise features involving, membership and VIP benefits and as counterpart to the trading of playlists.
The issuance of TRAXX tokens will be effected through a regulatory compliant structure and overseen by Token||Traxx founder, Sors Digital Assets, who are designated as a Virtual Digital Asset Service Provider by the Central Bank of Ireland.
Users of the platform will pay a fee to Token||Traxx when purchasing/selling NFTs. Token||Traxx will us a portion of this revenue to purchase TRAXX on the market.
Some portion of this revenue is used to buy back the equivalent amount of TRAXX as issued under the Activity rewards protocol outlined below. These TRAXX will be placed in an out-of-circulation wallet. We will aim for the number of tokens released in the market by the “Activity Rewards” mechanism to be similar to the number of tokens “bought back through the revenue.”
The TRAXX token will be created on the 14th of March 2022 and made available to those who wish to participate in the TOKEN TRAXX NFT MARKET PLACE. The Token Traxx token will be made available for purchase by SORS DIGITAL ASSETS LIMITED (SORS) which is registered as a VASP in accordance with the rules of the Central Bank of Ireland. SORS has not yet opened formal registration.
Guestlist members will be informed by SORS as soon as registration is opened, so if you want to be kept in the loop with the latest news, we suggest you sign up for the guestlist here via the form on our website homepage.