The real marvel of blockchain technology is how it redefines trust and enables a fairer world. This is the core value of our team and the force that drives us to create DEXON. We designed DEXON with cross-cutting, interdisciplinary elements from cryptography, applied mathematics, and computer science theories (detailed technical information on this can be read on DEXON’s Consensus Algorithm paper).
We see that decentralized technology’s mass adoption can truly be feasible by improving and incorporating various innovations together, however, one key element that will power the DEXON network is DEXON’s native digital currency, DXN. We can think of it as the fuel that will keep the DEXON machinery running and it’s worth looking at how it contributes to firing up the engines.
EDITOR’S NOTE:
This is the first in a series of articles discussing the basic information about DXN, ways to acquire DXN, and other relevant information regarding DEXON’s native currency. This article has been updated in 15th March, 2019.
The DEXON coin, DXN
The Basics
The DEXON Network’s native coin is called DXN and the minimum unit of DXN is called Dei. To put it in perspective:
1 DXN = 10¹⁸ Dei, or 10⁹ GDeiDXN Coin Allocation
The total supply of DXN is fixed at 4 billion. The genesis supply is 1 billion DXN (25% of the total coin supply) and the other 3 billion DXN will be minted as mining rewards (75% of the total supply) after DEXON mainnet launches.
DXN coin Allocation
Genesis Supply Allocation:
1 billion DXN or 25% of the total coin supply
- Sale: 15% of the 1 billion DXN genesis supply
• Private Sale (lock-up condition: unlocks monthly 3 months after the mainnet launch. The price of each DXN token in the private sale is USD$0.1): 13.5% of the 1 billion DXN genesis supply
• Public Sale (no lock-up condition): 1.5% of the 1 billion DXN genesis supply - DEXON Foundation (4-year vesting): 65% of the 1 billion DXN genesis supply (including DXN for: Technical Development, Operations, Community, DApp, Airdrop, Marketing)
- Founding team (4-year vesting): 20% of the 1 billion DXN genesis supply
Mining rewards circulation:
- 3 billion DXN or 75% of the total supply
- Nodes that actively participate in validating transactions will get DXN as mining rewards based on DEXON’s Proof of Participation Model (PoP).
In the next posts, we will talk about the various ways in which you can acquire DXN and more details about the token allocation. Stay tuned!
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