What is the ParamountDax Token (PRDX)? PRDX is a ParamountDax Exchange Native token, launched on 25 Apr 2019 as a profit-sharing token that allows traders to derive value from the exchange. It was issued as an ERC-20 token, running on theShow more [+] Ethereum network. The total supply of PRDX has been set at 49 million, and there is a planned "Buyback" and "Burn" So to achieve the Total Supply of 21 million PRDX . Sooner or later, when the ParamountDax decentralized trading solution becomes available, PRDX will be ParamountDax's native decentralized financial services asset.
ParamountDax also announced will give a key priority to PRDX as a killer product rather than a simple token, which is set to further diversify the benefits that PRDX holders can access. In the long run, PRDX acts as the key to the entire ParamountDax Ecosystem. With the development of DEX and dedicated blockchain, PRDX will also be the underlying fuel and general token for future decentralized ParamountDax products. More details will likely be released in the near future.
What makes the ParamountDax token unique?
The PRDX bonus is considered to be one of the best ways to get passive income. Users who hold more than 999 PRDX can get a daily dividend, which comes from 46% of ParamountDax's daily trading fee revenue. The PRDX bonus is a unique incentive mechanism for PRDX holders. The amount of rewards that users can receive depends on the number of PRDXs held and the trading volume of the ParamountDax Exchange.
What is the PRDX used for?
In addition to being paid as a dividend, PRDX, as a utility token, is also used to discount trading fees on the ParamountDax Exchange, allowing users to enjoy discounts of up to 25% on trading fees. But that's not all, as PRDX tokens also serve a number of other purposes on the platform. For example, PRDX holders can enjoy exclusive trading tools that are usually offered for a fee. PRDX can also be used as a payment method to shop, make hotel reservations, buy play equipment, and more.
What is a PRDX Burn process?
The initial supply of PRDX was set at 49 million. PRDX and the ParamountDax team are buying back PRDX from the market and burning them permanently every week. The amount of PRDX to burn depends on the weekly trading volume of ParamountDax Exchange. So the current Total supply of PRDX is constantly decreasing and will eventually stabilize at 21 million.
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