What is the issue volume of POLYX? An article introduces the application scenarios of POLYX

The issue volume of POLYX, a governance token and utility asset in the Polkadot ecosystem, is approximately 5.5 billion tokens, representing 55% of its total supply.

Nov 01, 2024 at 08:30 am

What is the Issue Volume of POLYX?

POLYX is a governance token and utility asset that powers the Polkadot ecosystem. It is used for staking, governance, and transaction fees on the network. The total supply of POLYX is 10 billion tokens, and the current circulating supply is approximately 5.5 billion tokens.

Application Scenarios of POLYX

POLYX is used in a variety of applications within the Polkadot ecosystem, including:

Staking: POLYX holders can stake their tokens to secure the network and earn rewards. Staking helps to prevent malicious actors from attacking the network and ensures that it remains secure and stable.
Governance: POLYX holders have the right to vote on proposed changes to the Polkadot protocol. This allows them to participate in the decision-making process and shape the future of the network.
Transaction fees: POLYX is used to pay transaction fees on the Polkadot network. This helps to cover the costs of running the network and ensures that it remains sustainable.
Parachain auctions: POLYX is used to participate in parachain auctions. Parachains are custom blockchains that can be built on top of the Polkadot network. POLYX holders can bid their tokens in parachain auctions to support projects that they believe in.
DEX Liquidity: POLYX is used as a liquidity provider in decentralized exchanges (DEXs), allowing users to swap tokens and provide liquidity for trading pairs.

Issue Volume

The issue volume of POLYX is the total number of tokens that have been issued and distributed to the public. The issue volume of POLYX is approximately 5.5 billion tokens. This represents approximately 55% of the total supply of POLYX.

Conclusion

POLYX is a versatile token that plays a vital role in the Polkadot ecosystem. It is used for staking, governance, transaction fees, parachain auctions, and DEX liquidity. The issue volume of POLYX is approximately 5.5 billion tokens, which represents approximately 55% of the total supply.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

A8

$0.2143

110.26%

Trade Now
APU

$0.0...02109

55.53%

Trade Now
BNX

$1.5302

43.51%

Trade Now
AUCTION

$35.8844

37.47%

Trade Now
ARC

$0.0678

31.84%

Trade Now
DOGINME

$0.0011

24.99%

Trade Now

Latest Crypto News

Bitcoin Whale Opens a Short Position of $332 Million with 40x Leverage
2025-03-17 01:10:56
Ripple (XRP) Price Prediction: Will the Token Hit $3?
2025-03-17 01:10:56
BCH Miner: The Ultimate Guide to Cloud Mining XRP and DOGE in 2025
2025-03-17 01:10:56
Rexas Finance (RXS) Could Outpace Bitcoin (BTC) by 10x in 2025, Tokenizing Real-World Assets
2025-03-17 01:10:56
Samson Mow Doubles Down on His $1 Million Per Bitcoin (BTC) Valuation, But There's a But
2025-03-17 01:10:56
Bitcoin price closed the past week on a positive note
2025-03-17 01:05:56

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...