Tokenomics
Last updated
Last updated
The native token of Versus-X ($VSX)* is a transferable representation of attributed governance and utility functions specified in the protocol/code of Versus-X, and which is designed to be used solely as an interoperable utility token thereon.
The $VSX token is the lifeblood of Versus-X, serving as a dual-utility token. Holders use $VSX to participate in the Versus-X ecosystem's governance, while players use it to play games and wager on their skills.
The primary utility of the token is to allow users to engage with and participate in the development of the ecosystem. Only users who have participated in submission of proposals, commenting, reviewing and/or voting will be entitled to receive the token governance rewards.
$VSX is used to reward players for playing the games and using the ecosystem. Players will earn tokens by playing games, completing challenges, and entering tournaments and competitions. The more successful the player is, the more they earn. Players will be able to wager on games of skill instead of games of chance. Players who hold a significant portion of tokens will also be rewarded with discounts to use the platform and purchase digital assets.
Staking and loyalty programs will be offered to encourage long term membership and participation on the platform. By staking tokens, users are able to access different membership tiers and utilities within the platform, thereby granting access to different activities which allow them to earn different types of rewards. The loyalty program still requires active user participation to unlock, but compensates regular users with high levels of rewards.
