TRIX Utility of token
1. As a currency for P2P transaction on the decentralised exchange (trading of items).
2. To pay for transaction fees (discounted fees using TRIX).
3. Staking by game companies to enter into the TriumphX ecosystem for a share of profits made from the transactions occurring on TriumphX marketplace.
4. Staking by Sole-X users who wishes to trade NFTs on the cross-chain NFT marketplace.
5. Governance — signalling and voting for changes to the TriumphX blockchain.
Cross-chain Technology in the NFT Marketplace
Cross-chain technology is a new technology that can transfer value and information between various blockchain networks.
Sole-X was developed based on Kakao’s blockchain network Klaytn via Orbit Chain.
This cross-chain platform supports interoperability between various blockchains such as Ethereum, Klaytn, etc.
This means that traders can trade in the market with NFTs and coins formed on other chains.
Orbit Chain technology leveraged by TriumphX is the world’s first decentralized open Inter-Blockchain Communication (IBC) platform.
Orbit Chain aims to connect fragmented ecosystems to solve the liquidity problem of independent chains, consistent with the vision of Sole-X.
Cross-chain NFT Marketplace vs. General NFT Marketplace
A normal NFT marketplace supports single transactions, and Sole-X’s purpose is to support free transactions between all chains.
Sole-X includes several NFTs and other digital collectibles. Sole-X currently supports transactions with 2 chains, 3 wallets, and 4 coins.
Users will experience high-quality NFT trading while minimizing barriers to entry within the platform.
Multi-chain transaction convenience is a key feature of Sole-X.
Sole-X primarily supports NFT uploads based on Ethereum and Klaytn.
Wallets that can connect to Sole-X include Ethereum-based METAMASK and Klaytn-based Kaikas and KLIP.
Transactions are possible with TriumphX’s coins, TRIX, Ethereum (ETH),Klay, and Tether (USDT).
In the future, Solex 2.0 will introduce the Polkadot chain and link more chains to expand the cross-chain opportunity.
