5. Economic system
Last updated
Last updated
The native token on the DxChain is DX, an exchange unit between users, provides economic incentives for on-chain activities and is also used as handling fees. The total supply of DX is 100 billion, of which the ecosystem pool is 45 billion. The undistributed assets in DxChain 2.0 will continue to be distributed in DxChain 3.0.
Users can participate in DxChain by voting DX to obtain block rewards or become a Validator to maintain the security and stability of the DxChain network. In DxChain 3.0, there is also a new token burn mechanism. If a Validator does not meet the required number of block generation in a certain epoch, all block rewards that have been generated will be burned and the Validator status will be canceled.
At present, Ethereum still dominates the blockchain ecosystem, other smart contract platforms are still actively creating their own ecosystems. However, bottlenecks of the performance limitations of Ethereum still exist. DxChain believes that web 3.0 will not be carried by only one public chain, the coexistence of a multi-chain ecosystem is the general trend shortly.
While dapp developments are growing vigorously, the asset swap has made the cross-chain agreement critical. DxChain will implement cross-chain transactions in 3.0, which can circulate DX between different chains that support smart contracts. Users can also use DX to participate in staking and other activities to improve the usage of DX in various applications, pushing DxChain to become an essential part of the financial market.
In DxChain 3.0, users can swap mainstream assets and DX through DxBridge. Take DxChain and Ethereum as an example, when a user needs to transfer DX tokens from Ethereum to DxChain, a certain number of DX tokens on the Ethereum will be transferred to an official public address, which is listened by multiple validators, DxChain will mint a corresponding amount of DX tokens for the user (with a portion of the handling fee deducted) when most validators confirm the transaction.
Similarly, when users transfer DX tokens from DxChain to Ethereum, the equivalent number of DX tokens on the DxChain will be burned and the corresponding number of DX will be transferred to the user through the official public address on the Ethereum.
Besides, DxChain 3.0 will continue to be compatible with the Ethereum Virtual Machine and RPC, support the migration of DeFi and NFT projects developed on Ethereum to DxChain, and encourage Dapp developers to provide more decentralized cross-chain solutions. The DxChain team has performed expansions and optimizations on the original EVM so that developers can use the EVM and directly compile the Dapp to DxChain without any modification.
