$PHNX's tokenomics

The PHNX's tokenomics is one-of-a-kind deflationary model that you won't see somewhere else. Our tokenomics model is a deflationary model through burn mechanisms and more importantly buy back and burn mechanisms.

Why a deflationary model and why buy back and burn?

A deflationary supply is the best way to give value to the token holders. In that regard, buy back and burn is simply the must, because we buy $PHNX from the market, hence increasing de facto its price, then we burn the tokens, leading to a reduction in supply. This allows us to continually add buying pressure on $PHNX and reduce the supply.

As a bonus, buying $PHNX from Ociswap generates LP fees. All the LP rewards (in $PHNX) due to the team are burnt through our second burning mechanisms.

Core objective

Our core goal is to always have a deflationary circulating supply and to look at ways of accelerating that deflation over time.

Some $PHNX are not yet in circulation. We need to be attentive when releasing them so that we remain deflationary: it means burning more than releasing and since our launch two and half month ago we succeeded to do it.

These non-circulating $PHNX have a purpose: they will allow us to invest, develop more revenues, and over time do even more buy back and burn.

Our strategic reserve is mainly intended for listings and liquidity contributions on DEX and CEX. We are already listed on Ociswap, Caviarnine and DefiPlaza. Step by step. we will add more liquidity to Caviarnine and DefiPlaza.

We may also elect to list $PHNX on future DEXs that may emerge on Radix. The more accessible and tradable $PHNX is, the better it is for the project. Liquidity brings more visibility and allows more people to find and buy $PHNX. In addition, it helps generate more income from LPs rewards and therefore burn.

CEX listing?

Ultimately, a listing on an appropriate CEX is possible. In that respect, the upcoming listing of $HUG on a CEX is a source of inspiration. As a reminder, we purchased 25k$ worth of $HUG in an OTC deal to accelerate their CEX listing. We will be able to benefit from their experience and expertise in this area.

Naturally, we would first need to grow our market cap and trading volume ahead of any CEX listing. But we prefer to anticipate and our strategic reserve and financial solidity allow us to keep a CEX listing as an option. Everyone would appreciate the interest that a CEX listing would represent for $PHNX holders

A part of our strategic reserve will be use to reward $PHNX holders through staking on DefiPlaza. For the first twelve months of the staking program, that represents 3.545% of the strategic reserve, ie 1.0375% of the total original supply.

Our strategic reserve could be used to make other investments, and we are talking about investments here. Indeed, our goal is to generate revenues for buy back and burn.

To make our project a success and implement multiple revenue generating tools that would allow us to buy back & burn an even greater of $PHNX, we need a multidisciplinary, skilful and motivated team. A team that will build $PHNX into the deflationary token we promised, and therefore bring value to our holders.

Because we believe in leading by example, upon the launch of the voluntary burn mechanism, the team collectively burnt over 7 million $PHNX. Since then, the team has made additional smaller voluntary burns to celebrate various achievements: giveaways, a new market cap threshold or an $PHNX climbing up the Ociswap ranking. To date, the team has already voluntarily burnt 7.6 million tokens.

To ensure a proper incentivization of the team and a long-term commitment, the remuneration of the team and its advisors is vested, with a 10% distribution each month. These tokens are distributed to a transparent wallet for anyone to follow the movements and see by themselves our commitment to the project.

Our marketing budget has so far been used for giveaways and friendly contests to gain visibility. That being said, we regularly assess the use of this reserve as we would favour a smart use of these funds to achieve the greatest possible impact and return on investment.

Our marketing budget has also been used in relation to our partnership with Project $NOW: it allows us to greatly improve our brand image and overall visibility of $PHNX. A strong brand helps to attract new investors.

Beyond that, it is essential to collaborate with other projects in the Radix ecosystem. Together we feel stronger and we can better raise awareness of Radix and attract new people to Radix.

$PHNX token launched the 1st April 2024, with a total original supply of 888,888,888 $PHNX.

Total tokens burned = 35,070,651 $PHNX (As of October 08, 2024)

Current total supply = 853,818,237 $PHNX (As of October 08, 2024)

Please note that 3,630,527 $PHNX are lost (sent to the unofficial burn wallet of Radix). We count them in the circulating supply as they are not definitely burned but lost.

% below are base on the current total supply and on the current distribution as of October 08, 2024:

Circulating supply = 609,610,047 $PHNX = 71.40%

Strategic reserve = 142,470,466 $PHNX = 16.69%

Team and Advisors vested (10% distributed each month) = 60,902,243 $PHNX =7.13%

Marketing = 40,835,481 $PHNX = 4.78%

As you can see on Xidar, they are four addresses identify as Phoenix in the top 5 holders. One of them is the pool wallet. So, it is circulating supply.

Address of the Phoenix pool wallet:

account_rdx12xmferka3a3hqv763qknpkfqv3mn5kn0smgmjwc84l8lxq52lt9x3s

Address of the Phoenix strategic reserve wallet:

account_rdx128cf37az7crshn46ypl3ctgwtjkevddjx0j6gfddnuzmh9mmvw6ye8

Address of the Phoenix Team and Advisors vested wallet:

account_rdx12xhh6u7quta59zctzupxtfgwnwnyg3sud4mag0hp5tqgscvcsy26c0

Address of the Phoenix marketing wallet:

account_rdx12895834n5q9sw2xmvtuxt0lr33r6xnplptx323scgck28wz00fqj85