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
TRIX Staking
All Sole-X users can stake TRIX tokens already deposited in Sole-X.
Staking refers to the act of “locking” the cryptocurrencies (coins / tokens) in the blockchain network.
These actions are utilized for the operation of the blockchain network, and users are rewarded in return. Sole-X has similar staking structure.
A 5% transaction fee is incurred per transaction for all that occurred on the Sole-X marketplace, and all such fees are accumulated in real-time.
The cumulated fee is rewarded in different cryptocurrencies and in proportion to the staked amount.
Rewards are distributed in total of 4 different types of cryptocurrencies: Ethereum (ETH), Tether (USDT), TriumphX (TRIX), and Klaytn (KLAY).
For example, if user A stakes 500 TRIX tokens and user B stakes 1,000 TRIX tokens, user B receives more reward tokens.
Furthermore, if the cryptocurrencies used for the transaction are Ethereum and Tether, the user can only claim staking rewards for Ethereum and Tether.
For example, if ETH is used for 10 transactions, only ETH will be rewarded as the staking reward (USDT, TRIX, and KLAY not applicable).
If TRIX is used for 10 transactions, only TRIX will be rewarded as the staking reward (ETH, USDT, and KLAY not applicable).
If both USDT and KLAY are used for 10 transactions, USDT and KLAY will be rewarded as the staking reward (ETH and TRIX not applicable).
Users can claim rewards once an hour and batch claim for all 4 cryptocurrencies with one click (claiming individual cryptocurrency is not possible).
After completion of the claim, the amount of the Unclaimed Rewards will be reset to 0, whereas the Earned Rewards to date will continue to increase by the amount claimed.
