XT is the official ExtStock exchange token that will be the foundation of the future ExtStock ecosystem.
The XT token was originally launched on the Ethereum blockchain (ERC-20), but in the future it is planned to transfer it to proprietary ExtChain blockchain.
For the first time, the XT token will be used to pay for trading commissions, as well as referral payouts. The volume of trading commissions will greatly depend on the current balance in XT tokens, which will significantly save on high-frequency trading. Moreover, The longer the token is stored on the balance, the higher the discounts on trading operations for a trader.
ExtStock exchange plans to burn up to 10% of the token issue every quarter, in order to gradually reduce its volume in circulation and increase liquidity and cost. Information on the total volume and the burned volume of tokens will be published on the exchange website and official social network accounts.
The total emission is 1B XT tokens:
- 500M tokens are planned to be sold to exchange traders during the 3-month IEO;
- 200M will be distributed among the founders, angel investors and the exchange team;
- 300M will be sealed in the treasure.
Launch and implementation
IEO is planned for 3 months in 3 stages.
The first stage will be held from 14.12.2019 12:00:00 (UTC) - 14.01.2020 11:59:59 (UTC). During this period, it is planned to sell 100M XT tokens at a price of $0.005 per token.
The second stage will be held from 14.01.2020 12:00:00 (UTC) - 14.02.2020 11:59:59 (UTC). During this phase, it is planned to sell 150M XT tokens at a price of $0.008 per token.
The third stage (final) will be held from 14.02.2020 12:00:00 (UTC) - 14.03.2020 11:59:59 (UTC). During this phase, it is planned to sell 250M XT tokens at a price of $0.012.
If at any stage the tokens will be sold earlier, then the stage will be completed ahead of schedule.
All collected funds are planned to be divided into the following goals:
- 40% will go to build their own ExtChain blockchain, including the creation of a decentralized exchange ExtDEX;
- 50% will go to marketing campaigns and advertising projects ExtStock, XT Token, ExtChain, ExtDEX;
- 10% will be stored in the insurance fund and intended for payments in emergency cases.
The token will be listed on ExtStock Exchange in /BTC and /ETH pairs no earlier than the first stage of IEO is completed.