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BackXCM Tokenomics Expansion Across the Coinmetro Platform
XCM tokenomics have expanded in recent weeks, with support from the community and our investors.
If you haven’t heard yet, we have recently secured funding which enables us to press forward with our vision and mission. Whereas other entities may be reducing or pausing any hiring plans, we will continue our expansion to deliver the full potential of Coinmetro.
Up until now, we take 100% of exchange fees and convert them to XCM via market buys from the order book on a regular basis. From now on, going forward we will add the XCM token burning mechanics to our SWAP widget, which means that 25% of all fees will be used to buy XCM from the market and 100% of this XCM will be burned. This has some important implications:
- It further adds to mechanical buy pressure
- It accelerates burning and token supply decrease
Moreover, to celebrate the new initiative we will be retroactively burning XCM as if this feature has been live since 3 March, 2022. Along with our weekly token burn, 108969.27 XCM are part to this new feature.
You can verify the burn in the chain here.
What Does this Mean for Your Portfolio and XCM?
The new mechanism is structured so that it drives XCM supply down, making it a deflationary asset facilitating the increase in value as time goes by. Furthermore, this creates more buying pressure as the new tokenomics favor increased demand.
As you already know, XCM is not just a simple crypto token – but a complex financial tool that has been designed for utility and real use cases. We are committed to continually add even more utility and earning mechanisms to XCM in the future and further increase its value as an established asset that goes back to the drawing board, bringing you better economics.
What Is XCM?
In case you are new to the landscape, take a minute to get familiar with our token. Coinmetro’s native ERC-20 utility token XCM is a complex financial tool that is integrated into every part of our ecosystem. Every transaction and interaction that occurs on our platform is tied to XCM. Although complex in nature, it is designed to serve its purpose and the users in the most simple and efficient way.
Another important role of our token is in offering you many opportunities to earn it. By simply making use of our platform through trading, margin trading, copy trading, or by using our unique swap widget, you can earn XCM. Its deflationary aspect, by virtue of weekly burns, reduces its supply on a weekly basis and therefore increases its demand. The bigger our platform, the more people trade, the more XCM gets burned. This means, in theory, that the price of XCM will continue to rise as there are less tokens in circulation.
What’s Next for XCM?
XCM never sleeps. More tokenomics updates are around the corner! As our exchange grows into a mature crypto environment, next week we are planning to increase the max staking limit from 500k to 1M.
Other than that, we are taking the opportunity to let everybody know that the 1 year XCM staking plan expired this week. A lot of clever investors made profits with our passive staking plan in the last year alone. If you weren’t among them, now is a great opportunity to embark on the staking program as it rolls out into the next cycle.
Have you found some inspiration yet? Join the ever-growing Coinmetro community on Discord and Telegram to stay up to date with the latest crypto developments, learn and exchange ideas with like-minded people. To begin your trading and investing journey today, take action now and sign up to our platform in just a few steps.