💲$BRX
Comprehensive breakdown of the BRX supply allocations and emissions.
Last updated
Comprehensive breakdown of the BRX supply allocations and emissions.
Last updated
| First-Class Asset Ticker | Initial Supply | Contract Address | Inflation |
|---|---|---|---|
BRX is a first-class asset. It is the first digital asset launched on BitRexe Network. It also functions as the utility token of the BitRexe network.
BRX affords users several advantages. The utilities of BRX orient around providing an incentive structure to Bitcoin merged miners at all scopes to secure the network and, more importantly, by staking BRX, it increases the possibilities of earning block rewards at the same hashrate.
Details of the BRX token supply and distribution are examined thoroughly below.
Initial BRX supply: 105,000,000
Inflation Rate: The token has a maximum yearly inflation rate of 1-4%, ensuring a gradual increase in the token supply over time.
| Year | Inflation Rate | Total Supply |
|---|---|---|
The total BRX supply is fixed after 10 years of inflation. Once the total supply of 134,341,973 BRX tokens has been distributed, no more BRX tokens will be introduced into the supply.
11.5% of the BRX tokens' initial supply will be distributed through BitsRush. Whereas 10% of the BRX can be minted through a dynamic exchange from Bitcoin, 1.5% of the total supply will be distributed as rewards to those users who created the community of BitReXe and contributed to the early growth of the ecosystem.
About rxBTC: the rxBTC is proof of your Bitcoin pegged into the BitRexe. It also functions as the initial value-discovering of the BRX token.
Initial Distribution: The genesis block of BitRexe will produce 40,425,000 BRX tokens.
The rest of the tokens (38.5%) will be distributed to the team (18.5%) and ecosystem fund (20%). As for the team, the tokens will be locked for 1 year and 4 years of vesting to ensure normalized delivery and the development of the BitRexe ecosystem.
After the Token distribution of the BitsRush the ecosystem fund will distributed to a multi-sig wallet on BitRexe to support further ecosystem development including but not limited to developer grants, hackathons, and appearances on Bitcoin events.
March 29, 2024: Epoch #1 announced. Start exchange rate: 1 rxBTC = 100,000 BRX.
50% of the tokens will be distributed over 14 years through merge mining. Miners of Bitcoin can earn coinbase rewards from mature/premature/forked BTC blocks.
It ensures the Bitcoin Layer 2 BitRexe can adjust the Block Interval according to the on-chain activities frequency and the mining competition. For more details about mining, please visit LINK
Coinbase Reward (BRX Emission Schedule through 14 years)
The Ecosystem fund will allocate 20% of the BRX token supply. The initial funding of the ecosystem fund is from the initial BRX token distribution.
The fund is run by the BitRexe community. A community where members share the same vision of creating an inclusive financial system that powers the unprivileged average.
As recurring revenue, the ecosystem fund will receive 20% of all the FCA commission fees when user transfers occur. A certain amount of 20% of the dividend will also be distributed to BRX stakers.
The fund aims to support early ecosystem builders through a community voting mechanism. The right to vote is decisive to the amount of BRX staked and the period staked.
Primarily, the BRX token intends to operate as an incentive for the BitRexe community to mediate the mutually beneficial relationship among BitRexe’s contributors. Users of the BitRexe and/or BRX holders who did not actively participate, contribute to the network, or engage in transactions will not receive additional BRX rewards.
The utility of BRX within the scope of the BitRexe Network includes:
Stake (currently whitelist only) BRX staker will receive commission fees from first-class asset transfers, sharing earnings from the BitReXe treasury.
Governance receives governance tokens by staking BRX and receives veBRX for voting proposals.
Developers Rent. To eliminate unnecessary expansion of ledger size from endless smart contracts deploying on the network, the owners of d-apps are required to pay for the "rent" with BRX to sustain the liveness of one's smart contract.
A variety of incentive mechanisms will be introduced to allow active participants to earn, hold, and transfer BRX.
Future BRX token utility features and reward mechanisms not contained within the current BRX Tokenomics will be announced once they are finalized. The guiding principle is to reward all users for their efforts in supporting and promoting the ecosystem.
| Year | Annual Coinbase Reward :BRX | BRX/Second |
|---|---|---|
BRX
105,000,000
0xbessda1d22da
4% - 1%
0
N/A
105000000
1
1%
106050000
2
2%
108171000
3
4%
112497840
4
4%
116997753.6
5
4%
121677664
6
2%
124,111,217.28
7
2%
126,593,441.63
8
2%
129,125,310.46
9
2%
131,707,816.67
10
2%
134,341,973.00
1
26,250,000
0.830107772
2
13,125,000
0.415053886
3
6562500
0.207526943
4
3,281,250
0.103763471
5
1,640,625
0.051881736
6
820,312.5
0.025940868
7
410,156.25
0.012970434
8
205074.125
0.00648509
9
102,539.0625
0.003242608
10
51,269.53125
0.001621304
11
25,634.765625
0.000810652
12
12817.3828125
0.000405326
13
6408.69140625
0.000202663
14
6408.69140625
0.000202663
