BANX Token Issuance
The Ubanx products and services and the Ubanx Community will be powered by the BANX Token. The BANX Token will initially be created as an Ethereum ERC-20 token, but the Ubanx vision is blockchain-agnostic and Ubanx intends to support other protocols in the future.
The BANX Token
Ubanx will issue a utility token called BANX. This token will have 3 main uses throughout the platform:
As a spendable token: users will be able to pay reduced fees on the Ubanx Wallet App, Ubanx Pro Exchange or on the Ubanx Spaces services and facilities, using the BANX Token.
As a staking token: users will earn Xpoints for holding different amounts of BANX Tokens in their accounts, to access benefits such as lower trading fees, access to free Priority Pass memberships, discounts on retail products and services and participation in Community Discussion Workgroups.
As a bidding token: the company will offer rights to operate a Ubanx Spaces in different geographic zones by an auctioning mechanism, run through a smart contract, that can only be won by offering the highest bid in BANX.