This article will help you better understand the XCANIC token for the upcoming ICPSwap listing (see XCANIC Tokenomics), we would like to introduce the utilities of XCANIC, and share that $XCANIC will be acceptable as a form of payment to buy and sell NFTs, create NFTs on canister.app from early September.
By choosing to accept XCANIC as payment, users will no longer have to pay for any service fees when transacting on canister.app. This makes transacting on Canister.app compared to other platforms attractive at a time when many NFT platforms are taking up to 10% of the transaction value in service fees.
How it works
A user can list an item for sale on Canister and choose to accept the XCANIC token by clicking on the checkbox: Accept XCANIC.
Based on the current exchange rate of the XCANIC/WICP pair, the buyer can choose to buy with XCANIC or ICP.
Create NFT collection/single NFT on canister.app and pay the fees:
How else can XCANIC be used?
Using XCANIC as a form of payment is only one of the ways that users can expect to participate on the Canister platform.
Besides, you can also stake CANIC NFT to receive XCANIC, access the function here https://canister.app/staking
Here are a few others that are currently in development:
Governance
We believe that the best way to align platform development with our user’s interests is to empower our community with the ability to participate in important decisions.
Our ultimate goal for XCANIC is to create a community-owned platform that works as a Decentralized Autonomous Organization (DAO), where the important decisions regarding growth such as platform upgrades and marketing decisions are decided by the community.
Don’t forget, we have a Launchpad system, which will launch projects on our platform, once you own XCANIC you can also participate in voting to decide if a new project is accept or not.
You can also use ICP or XCANIC to buy NFT/Token of these projects on our Launchpad.
Staking and Liquidity Mining
35% supply for LP. Additional DeFi instruments offered by Canister to incentivize users for participating in our platform will continue to use XCANIC.
In the upcoming ICPSwap listing, we will open token pools that allow you to stake XCANIC to earn XCANIC and other pairs, for example XCANIC/WICP, XCANIC/XTC…
And many more use cases for the XCANIC token are yet to be announced!
Any more questions? Head over to Canister.App Disscord for support and meet the community.
🌍Website: https://canister.app/
☂️Medium: https://medium.com/@canister_app
🎯Twitter: https://twitter.com/canister_app
💎Discord: https://discord.gg/AknFAFCrvV
☕Telegram: https://t.me/canister_app
