What is $AURIAX
Auriax governance token
$AURIAX is the native ERC-20 compatible token that powers the AURIAX ecosystem. Here are some key details about the token:
Multiple purposes: $AURIAX is used as a governance token, a medium of exchange, and a store of value within the AURIAX ecosystem. This means that it has various functions that help to ensure the smooth operation of the platform.
Trading fees: When a user completes a trade on the AURIAX platform, a small percentage of the total trade value is taken as a fee. These fees are then used to buy back $AURIAX tokens from exchanges.
Burn mechanism: The $AURIAX tokens that are bought back from exchanges are then burnt. This helps to reduce the overall supply of $AURIAX tokens and stabilize the token price. It also creates deflation, which can be beneficial for holders of $AURIAX tokens.
Monetary policy: The buyback and burn mechanism is a critical aspect of $AURIAX monetary policy. It helps to manage the overall supply of $AURIAX tokens and prevent inflation.
Governance: $AURIAX holders can vote on proposals that will affect the AURIAX ecosystem. This gives holders a say in the direction and development of the platform.
Overall, $AURIAX is an essential component of the AURIAX ecosystem. It has multiple functions, including as a medium of exchange, a store of value, and a governance token. Its buyback and burn mechanism helps to stabilize the token price and prevent inflation. As a governance token, it gives holders a say in the development and direction of the platform.
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