BTC Proxy
Functions of $PRXY
The core functions of $PRXY Token are divided into three. They include:
  1. 1.
    Voting to be used as a staking and voting mechanism with Snapshot (an off chain governance mechanism) to determine the future direction of the underlying protocols and integrations.
  2. 2.
    Bitcoin Farming: The only protocol that allows you to farm Bitcoin. Stake $PRXY for a share of the transaction fees from the minting and redeeming of BTCpx. These fees are paid in BTCpx and redeemable for Bitcoin. The management team will manage the treasury of the fees generated by the underlying protocol of the BTCpx platform and will share fees earned from minting and redeeming from with PRXY stakers through staking marketplace that can be found at Stakeholders will be rewarded with excess BTC tokens in custody that may have accumulated from Minting and Redemption on a monthly basis on both ERC20 and MRC20 sides of the marketplace.
  3. 3.
    Liquidity Mining incentive to provide a mechanism to grow the underlying usage of the BTCpx protocol can be found in more detail on the How to Earn PRXY page
Last modified 5mo ago
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