FNX coin is a new open finance protocol that lives on the Ethereum and Wanchain blockchain todayIt is an important hub for connecting investors with ledgers, as well as connecting with typical finance applications, without any major decentralization. The first iteration of FNX coin will be a pivotal marketplace for decentralized hybrid and traditional financial products!
The FNX token is the network token for the complete FinNexus protocol clusters. The payment medium serves a variety of purposes, including collateral, settlement venue, governance, liquidity mining, voting, and more.
In the first quarter of 2020, a subscription event was held for the fnx token, which can support Finnexus ‘ highly innovative offering models. Approximately five million tokens were made available during the subscription event or activities. At the end of the event, the subscription rate was 96 %.
What is FNX?
FNX coin is known as an open finance protocol far above the Wanchain network, aimed at largely unifying the blockchain with financial transactions in general. The initial design of the FNX coin began with the establishment of a hub that aggregates all supported decentralized projects and financial products in a single interface.
With the FNX coin, it will indeed be much easier for crypto investors to fully manage their blockchain-based assets and conduct cross-chain transactions with other investors! The protocol also connects brokers and exchanges that users can easily access whenever they need it. FNX altcoin also introduced a key program to give users the option to increase their leverage or take risks in a pool of cryptocurrency assets.
FNX Coin Features
The FNX coin protocol has three distinct features:
- Ecosystem: FNX altcoin has a Defi ecosystem and value channel. The main objective of FNX is to help investors gain comfortable access to different financial service providers on the platform.
- Connects Investors and Blockchain: FNX coin has an application layer protocol. It is designed to connect providers, developers or investors, Defi applications, and transactions.
- Blockchain: FNX coin has decommissioned a new system to facilitate the flow of assets between different types of financial service providers, both typical finance and blockchain-based. In this way, the protocol acts as a gateway for exchanges of different types of entities. It helps the platform get more liquidity than the regular crypto exchange protocol.
FNX token is the native utility token of the platform. It can be preferred as a very important exchange aid or collateral guarantee. It also allows holders to participate in liquidity mining as well as voting and governance.
Token holders can vote on key protocol decisions, including collateralization rates, supported assets, and platform upgrades, among others. The FNX community has recently voted on a number of upgrades that will be released in the coming weeks.
You can earn additional income by participating in mining. It is extremely easy to do this. For this, first, buy the FNX token. Once you have enough rewards from mining contracts, the next step is to redeem your reward. This can be done at any time. However, factors such as the length of time an asset is locked in a mining contract affect the number of rewards a user can receive. Calculating mining rewards is also simple. It is the base reward multiplied by the lock duration modifier.
There is absolutely no doubt that the FNX coin makes a very interesting value proposition! This altcoin team is off to a promising start as it remains to be seen how they will compete against slightly older projects. FNX has designed an effective liquidity strategy that will strengthen the trading functions of the platform. It also implemented smart contracts to support its non-surveillance, permissionless and decentralized design. The foundations of the project seem solid.