We recently launched the $XYO token on Quidax 🎉, but many people, especially newbies, have been wondering what the coin is all about.
We’ll talk about $XYO, its features, and why it stands out in the crypto market in this post.
What is the $XYO Token?
$XYO is the native token of the XY Oracle (XYO) Network, a decentralised blockchain platform for tracking and verifying data.
The XYO ecosystem is a connection of smart devices like mobile phones, laptops, tablets, iPads, and GPS trackers that connect to create a location-based data network. This makes it easy for users to pinpoint information based on their locations.
The goal of the XYO Network is to provide users with accurate and credible data that nobody can tamper with. Various applications and industries can then use the data for research, structuring, and planning.
The $XYO token is built on the Ethereum blockchain, and is primarily used to reward the network’s contributors who provide the data it relies on.
What Are Its Use Cases?
Besides rewarding XYO network participants that contribute to the platform’s data, $XYO has other uses, including:
- Fees for the platform’s Services: Users may need to pay $XYO tokens to access the network’s data and subscription-based features.
- Transaction Payments: The $XYO token acts as a means of payment for transactions, goods, and services.
- Staking: Network users can stake their $XYO tokens to support the network’s seamless operation. Token holders can also participate in network voting and governance.
- Trading and Investing: Like other cryptocurrencies, you can trade $XYO on exchanges like Quidax. This offers you the opportunity to buy and sell the coin or hold for future gains.
62,000+ $XYO Tokens Up for Grabs
To celebrate $XYO’s launch on Quidax, we are giving out over 62,000 $XYO tokens to 40 lucky winners 🥳. You can check here for more details on how to win some free coins for yourself.
