When was the SolarX (SXCH) coin issued?

The SolarX (SXCH) coin was initially issued on June 8, 2021, with a total supply of 100 million coins and a fair launch distribution model.

Dec 02, 2024 at 06:20 am

When was the SolarX (SXCH) Coin Issued?

Introduction:

SolarX (SXCH) is a decentralized, open-source blockchain platform designed to provide a fast, secure, and scalable infrastructure for decentralized applications (dApps). The SXCH coin is the native token of the SolarX platform and serves various purposes within the ecosystem.

Issuance Date:

The SolarX (SXCH) coin was first issued on June 8, 2021.

Detailed Explanation:

1. Genesis Block and Distribution:

• The SolarX blockchain was launched with the creation of the genesis block on June 8, 2021.
• The genesis block contained an initial supply of 100 million SXCH coins.
• These coins were distributed through a fair launch process, ensuring a transparent and equitable distribution.

1. Tokenomics and Allocation:

• The total supply of SXCH coins was set at 100 million, with no plans for further issuance.

• The token distribution was divided among the following categories:

  • 50% for the ecosystem, including dApp development grants, research, and community initiatives.
  • 25% for the core team and contributors responsible for platform development and maintenance.
  • 15% for strategic partners and advisors who support the growth and adoption of the platform.
  • 10% for a reserve fund to support the platform's long-term stability and development.

1. Initial Exchange Listings:

• Shortly after the launch, the SXCH coin was listed on several cryptocurrency exchanges.
• These listings provided traders and investors with access to the SXCH coin and facilitated market liquidity.

1. Community Adoption:

• Since its inception, the SolarX platform and SXCH coin have gained traction within the blockchain community.
• Developers have built dApps on the platform, and enthusiasts have adopted SXCH as a means of exchange, staking, and other blockchain-related activities.

1. Ongoing Development and Improvements:

• The SolarX team has continuously worked on improving the platform's performance, security, and scalability.
• Regular software updates and upgrades have been implemented to enhance the user experience and expand the platform's capabilities.

1. Use Cases of SXCH Coin:

• Transaction Fees: Users pay transaction fees in SXCH when interacting with the SolarX blockchain.
• Staking Rewards: Node operators can stake SXCH coins to support the network's security and earn rewards.
• Governance: SXCH holders can participate in the platform's governance process, voting on proposals and influencing the direction of the ecosystem.
• Ecosystem Funding: SXCH grants are provided to dApp developers to support innovation and the growth of the SolarX ecosystem.
• Scarcity and Value: The limited supply of SXCH coins contributes to its scarcity value and potential long-term appreciation.