XONIO FAQs
Welcome to the official Medium page of XONIO Token. In this article, you can find frequently asked questions and other important details to note about XONIO.
This page will constantly be updated as XONIO innovates on new features and technology.
What is XONIO?
XONIO lets mobile consumers access the token economy using telco prepaid airtime. It will be the easiest way to create a blockchain wallet, offering a unique financial inclusion solution for digital goods in emerging markets.
The heart of the XONIO project is the eXtensible Open Network. It is a blockchain-based digital goods ecosystem that seamlessly integrates with telcos to offer its prepaid subscribers a simple way to create a blockchain wallet. It is powered by an ERC20-compliant token called XONIO Token.
What is the XONIO Token?
The XONIO Token is an ERC20 token built on the public Ethereum blockchain. It serves as the underlying cryptocurrency of the eXtensible Open Network, and can be traded in partner exchanges.
The XONIO Token has the following functions:
1. Allows XONIO Mobile users to convert XON to a fungible digital asset that can be traded in partner exchanges.
2. Allows access to the XON Store where XONIO Mobile users can buy a slew of digital goods at exclusive rates.
3. Allows XONIO Mobile users to receive rewards for purchases made in the XON Store.
For more information on XONIO Tokens, visit this post.
What is XON?
XON is a price-stable digital asset integrated in the XONIO Ecosystem. It serves as the native currency of XONIO Mobile, where users can purchase a wide array of digital goods from the XON Store, and is used to convert to XONIO Tokens, a tradable ERC20 token.
Learn more about XON here.
What’s the difference between XON and the XONIO Token? Why have two?
The XONIO Token operates on-chain, in the public Ethereum platform; while XON operates off-chain, which is essential to address the scalability and cost of the public Ethereum blockchain; thus have a higher transaction-per-second (TPS) to best process the high velocity of transactions we’re expecting from our users.
Where can I find details about the XONIO Token Sale?
We are currently on private sale and shall be announcing details on our public sale as soon as possible. To stay updated, please subscribe to the XONIO newsletter on our website; or join us on Telegram.
How do I contribute to the XONIO Token Sale?
- Private Sale: If you are not a citizen or resident of the US, China or the Philippines, just email info@xon.io with your name, company, company website, and job title so our team can be in touch.
- Public Sale: You may participate to our public sale once the token generating event page goes live on our website.
Additional information regarding the XONIO Public Sale will be provided at a later time.
Are XONIO Tokens mineable?
No. Only the XONIO Tokens that are created after the ICO will be minted, and no others will be created.
How will the tokens go up in value?
The price movement of the XONIO Token is beyond our control and scope. There is no guarantee even with other tokens if the price will go up or down. What we can assure you is that we will work tirelessly to develop the technology, and our roadmap. Having a real product, that has a viable business model, and tries to solve a problem from a massive addressable market size will have a great chance in succeeding.
Factors such as perceptions of the Company, delays in the development of the Platform, fluctuations in comparable projects and token sales, market dynamics, regulatory actions and changes, technical advancements, as well as broader economic and political factors, may cause the value of tokens to change.
Why should we contribute to your ICO instead of other ICOs?
We think that there is a huge untapped market that is eager to use blockchain technology in emerging markets. We are poised to become their entry point of choice that’s why you should purchase our tokens.
Do I need to KYC?
Yes, we intend comply with the anti-money laundering regulations of Singapore. We also need to ensure that all contributors are not citizens or residents of the US, China, the Philippines, or any other country that prohibits or conflicts with the token sale.
Last update: August 1, 2018
For more info, visit www.xon.io. Join the community on Telegram.
