MATRIX token is the native token of Matrix Farm
Warren Buffett, later quoted among the others by Jeff Bezos, famously said: “You can hold a ballet and that can be successful. And you can hold a rock concert and that can be successful. Just don’t hold a ballet and advertise it as a rock concert.”
The way we interpret this concept at Matrix is very straightforward: be clear with your tokenholders with what you want to achieve from the start. And our mission is quite clear: “becoming the first auto-compounder with a strong focus on analytics and valuation metrics that will bridge the DeFi with the TradFi world, while also providing long-term sustainable value to holders”.
The first step in order to build a long-term community-oriented project is to envision an ecosystem token supported by strong intrinsic economics. Luckily, among the Matrix team we have different bright minds coming from leading financial institutions around the world. With their help, and in accordance with our value proposition toward our users, we have built what we think to be a tokenomics system well-suited to support the success of our project in the long-run, as detailed in the picture below:
There will be a maximum supply of 100.000.000 Matrix tokens and their value will be further sustained by a well-devised set of structurally recurring buy-back and burn mechanisms.
To complete the last phases of development of the Matrix platform and the launch of its native token, we are at the moment working hard on the finalization of a private round of fundraising with strategic/institutional investors. At a later stage, we are going to realize a further funding round, which will be reserved to smaller private investors.
The proceeds obtained from this private rounds, to which we reserved an overall portion of up to 10% of the token total supply, will be used mainly for the following needs:
- 1.Initial exchange liquidity
- 3.Technical development
IMPORTANT NOTES ON VESTING:
- 1.Team: vested over 9 months
- 2.Strategic Partners & Advisors: vested over 5 months
- 3.Strategic Round Investors: vested over for months
- 4.Public Round Investors: vested over 3 months
The above points show a great commitment of the entire team toward the project for the long-term and the whole Matrix community.
xMATRIX represents the vested version of MATRIX. Why should users swap their MATRIX for the xMATRIX token? Two words: Passive revenue.
How rewards of Matrix Token works
I’ve used MATRIX as token name but must be updated later
Indeed the idea behind xMATRIX is to share with its holders the revenue generated by the platform. This will give an additional benefit and source of revenue to the platform users while letting them feel even more part of Matrix. A stunning 80% of the revenue generated by Matrix platform will be allocated to xMATRIX and MATRIX/FTM stakers:
We have also heard our community's suggestion, and decided not to set-up any vesting horizon (of course, with the exception of the team, its advisors and pre-sale investors) or deposit/withdrawal fee on the xMatrix staked. A user that has staked xMatrix will therefore be able to redeem them as soon as she/he wants. It is straightforward to say that, after the withdrawal of their tokens from the staking vaults, investors will not receive the platform fees anymore.
To further incentivize loyal xMatrix stakers, we are going to add more token rewards provided by our partners as the time goes by. Expect us to share news on this topic.
To conclude, if you want to make daily passive income and help the protocol in achieving a steady growth, you should definitely be staking xMatrix.