💰SX Tokenomics
Everything you need to know about the SX token
🔍 SX Token Overview
The SX token (SX) enables community ownership and decentralized governance that will guide SX to a sustainable future. SX is an ERC-20 token that exists on the Ethereum, Polygon, and SX Network blockchains.
SX Network token on Ethereum: https://etherscan.io/token/0xbe9f61555f50dd6167f2772e9cf7519790d96624
*OLD* Deprecated SportX token on Ethereum: https://etherscan.io/token/0x99fe3b1391503a1bc1788051347a1324bff41452?a=0xd92B21EFBc243D31CD35113d2c15018F5C71Df9b
💱 How to Buy SX
✅ SX Utility
The SX token has a number of key functionalities within the SX Network ecosystem:
⛏️ Staking
In order to secure the network, token holders can stake (i.e. lock up) their tokens to earn staking rewards. Tokens that are staked remain in the user’s control, but they can no longer be transferred. By staking tokens, the circulating supply of the token is temporarily reduced, which also has the beneficial effect of increasing scarcity. All (100%) of protocol revenue is paid out to SX stakers in the form of USDC, ETH, and SX.
🏛 Governance
SX allows token holders to control over all the parameters of the SX Network blockchain. It also gives holders control over the SX prediction market protocol smart contracts through the governance user interface.
⛽ Gas Token
SX tokens are used as a medium of exchange and unit of account within the SX Network blockchain. Similar to the relationship of ETH to Ethereum, SX is the "gas" of the SX Network blockchain. Every single transaction on SX Network requires SX tokens in order to process. This means as demand for the SX Network blockchain continues to grow, there will be increasing demand for the SX token.
📊 SX Supply
The SX token was launched on January 2021 with a maximum supply of 1,000,000,000 (1 billion) SX.
The initial launch allocation was as follows:
🏦 Community Fund: 530,000,000 SX (53.00%) with 4-year vesting
🛠️ Core team: 228,554,913 SX (22.86%) with 4-year vesting
💼 Early backers: 103,070,000 SX (10.31%) with 4-year vesting
🧾 Marketing budget: 50,000,000 SX (5.00%) with 4-year vesting
💧 User Airdrop: 20,000,000 SX (2.00%) available at TGE
SX token holders have control over the community treasury, and could distribute the 530,000,000 SX tokens in the community fund through DAO voting. However, these tokens can’t be accessed by the DAO until they vest. Tokens vested to the community treasury, team, early backers, and to the marketing budget on a monthly basis according to the following schedule: 10% in 2021, 20% in 2022, 30% in 2023, and the remaining 40% in 2024.
Team, investor, and strategic marketing initiatives SX allocations were all locked up on an identical vesting schedule to the community treasury:
🧮 Current Tokenomics
As of October 1st 2024, SX token is 90.72% vested with only three months left from it’s initial 4-year vesting period.
The final 9.28% of unvested SX unlocks over the next three months on these dates:
November 1st 2024
December 1st 2024
January 1st, 2025
The supply of SX is split between the three categories:
🏦 Community Fund: 298,306,232 SX (29.83%)
🔥 Burned: 110,365,091 SX (11.04%)
💰 SX Holders: 590,582,656 (59.58%)
The amount of SX tokens actually held by investors that can be sold (i.e. excluding Community Fund and Burned SX) is only 590,582,656 SX. Of these tokens held freely trading, they are currently split up in the following ways:
🥩 Staked SX: 103,070,000 SX
🏧 Held on CEXs: 1,500,000 SX
💵 Circulating SX: 486,012,656 SX
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