CorionX stands to bridge the gap between Stablecoins, cryptocurrencies, Central Bank Digital Currencies (CBDCs), and DeFi tokens. Acting as “gas” for the adoption of Stablecoins, CorionX provides many beneficial incentives for Stablecoin adoption and usage.
The CorionX Loyalty Staking Program
The Ethereum-based utility token (ERC20) provides a plethora of benefits for users. These benefits include:
- To pay off service fees and membership fees of CorionX and Corion Foundation infrastructure.
- To gain access to more favorable white label services via the continuously increasing partnerships formed with CorionX.
- Allowing users to operate and transact on the network.
- To gain access to the Loyalty Staking Program.
What is the Loyalty Staking Program?
CorionX’s Loyalty Staking Program provides token holders with a quarterly 2.5 percent reward on their own right. Alongside this, staking providers and partner exchanges can provide further ‘special staking rewards’.
In accordance with the program, 60,000,000 CorionX tokens will be allocated to token holders. This pool is set to be dispersed 24 months after the official launch of the CorionX token CORX in exchange listings in eight installments (eight quarters).
The 2.5 percent token reward is distributed at the end of each quarter based upon the average amount of tokens held by public addresses. The Corion Foundation scans and amalgamates all public addresses to determine the average amount of CORX held. Following this, each address with at least $100 of tokens will be rewarded a distribution of the 2.5 percent token reward.
The purpose of staking in blockchain
Staking provides support for all blockchain operations by providing more decisive power to currency holders on the system.
Staking provides users with similar benefits to holding their money in a bank account to earn interest. By staking, the holder is granted the ability to generate an income through their holdings, and the power to vote.
Particularly in the Ethereum blockchain, distributing decisive power more equally is the goal of Decentralized Finance (DeFi). Staking provides a less costly and less risky method of accessing a blockchain’s validation process. In this same light, CorionX’s Loyalty Staking Program functions in just the same way.
Dispersing the staking rewards evenly, DeFi ideology of decentralized power is steadily becoming a reality with CorionX.