🔥DXO
0xb39b58014A43dc1Da820dBc2a3BF4dBAE08206A4
DXO is the FIRST on demand stable asset that can only be created by burning BTC and other deflationary coins. It's not backed by Bitcoin and is created FROM Bitcoin. You get interest just for holding it and price is determined by market behaviour like every asset should be.
You can BUY already forged DXO on the market by using well known DEX or BYAS swap
BYAS swap automatically configures slippage.
DXO can only be Forged (new supply created) by burning BTC and other deflationary coins/tokens. Why deflationary? If you have an inflationary system, you could literally forge as many coins as you wanted. What you produce out of inflationary systems doesn't have any intrinsic value. In crypto Inflationary tokens exist to create fake yield. So even if you were to burn the inflation that was created, you still created something without having to have tangible market or transactional activity.
Why would I ever burn BTC to create DXO?
To finally have a means of exchange that is instantly verifiable, non-inflationary, and completely decentralized
To give you passive income
To make BTC transactional for all transactions, even a cup of coffee :-)
To make fees from the growth of the DXO network
DXO will only ever be Forged by deflationary assets. And it will only give a yield if people are using it. If there is no market activity, there is no yield.
In contrast, many of the crypto systems today provide you a consistent yield (in tokens) regardless of market activity. This is simply inflation. When you have something that is inflationary, without matching market participation that thing will eventually inflate until it's worthless.
But I hear you saying...well...Bitcoin isn't deflationary.
Yes it is.
The original Bitcoin system was only designed to mine 21,000,000 Bitcoin. But we will never get to that number. How so? Because almost 4 million BTC have been lost by people sending it to satoshi's wallet or other wallets that have no private keys. There will never be anymore Bitcoin mined so it is deflationary. https://decrypt.co/37171/lost-bitcoin-3-7-million-bitcoin-are-probably-gone-forever
Furthermore it actually costs something to mine a Bitcoin. And right now the cost to mine a Bitcoin block is 10 times harder today than it was 4 years ago.
If people like our idea this system could burn millions more Bitcoin. Making Bitcoin even more scarce.
Plus our idea makes Bitcoin green. All the energy that was used to create Bitcoin can now live on forever continuing to have transactional value, without using more power. Our system uses a miniscule amount of power.
But how do I get the yield?
DXO has a built in fee on all transactions. It isn't inflationary. It simply distributes an amount to all holders based on the amount of DXO they hold and the number of transactions that happen on the DXO network. This FEE is not restrictive to everyday transactions. You may barely notice it. But over time, it accumulates for holders.
example: If there are 1,000,000,000 (1 billion) DXO forged and there is 50 million in daily volume through swaps exchanges or even wallet to wallet transactions, this example will yield approximately 9% more in DXO. (The DXO price at the time you decide to sell cannot be determined so whether this results in higher value is determined by market participants, but you will have more tokens) If there are no market participants, and the only ones left are holders, the value of DXO will at worst stay the same but most likely rise. There is no dev to dump on you. There isn't a team that is accruing more tokens outside the scope of market activity.
THERE IS NO DEV FEE.
We don't collect anything unless we decide to own some DXO ourselves (which we certainly will) but keep in mind, we have to burn BTC to get it. And once launched we will have no control over the forge. We will not be able to remove tokens from the forge. There will be no emergency withdraw or otherwise.
Having a fee as part of the code:
Allows you to take part in the growth of the coin. Every DXO you own is a piece of the DXO ecosystem. You get a piece of every transaction.
You must hold the forged token in your wallet to participate in the growth, so we think that more people will be keen to holding it.
It automatically protects you against fiat inflation.
It cuts down on high frequency trading. High frequency traders (bots) will not like DXO. Unless they like losing money. Holders will be rewarded by all the trades of DXO including those by bots.
example: If there are 1 BILLION DXO in circulation, and there is 50 million in daily volume every day for one year, you can expect to earn 9% more DXO tokens over the course of that year.
We now have an entirely new asset class to help grow.
We haven't been able to participate in stable coin growth until now. https://coinmarketcap.com/currencies/usd-coin/
The stable coin industry has grown at 100x over the last 2 years. If you held traditional stable coins you received none of that growth.
Now as DXO grows, every holder of this stable asset will be able to participate in its growth.
Only 21 TRILLION DXO tokens can EVER be Forged. This number of tokens can sustain us for over 50 years. Currently, the entire crypto market is worth less than 2 trillion. So BTC will have to grow in order to get close to forging all of the DXO.
BNB can also be burned to Forge DXO.
BNB is a deflationary cryptocurrency as BNB tokens are burned daily through various on chain methods. Currently there are about 160 million BNB tokens after staring with 200 million at genesis. This means over 40 million BNB has been burned in the last 5 years. https://coinmarketcap.com/currencies/bnb/ which will decrease over time to 100 million and even less as the BNB chain ecosystem grows.
BNB chain has been either #1 or #2 in on chain transactions on any given day for the past 18 months beating Ethereum by an avg of about 4 to 1 every day.
source https://bscscan.com/chart/tx
source https://etherscan.io/chart/tx
Our project would not be viable on the Ethereum network due to the high fees.
BNB was launched fairly. There was no ICO. Anybody who wanted to buy could do so at the very beginning. BNB has more utility than any other cryptocurrency at the moment as its necessary for every tx on BNB chain and Beacon chain. It also gives other benefits to holders such as it's launchpad.
This opens the door for other established DEFLATIONARY crypto currencies WITH FAIR LAUNCHES to be used to forge DXO in the future.
Although we will have no control over the forging of DXO, the devs will maintain the ability to add other deflationary coins to Forge DXO.
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