Paradox NFT Tokenomics Whitepaper
Paradox NFT Coin is proud to have started the process of building a bullet-proof community of art lovers, creators, musicians, collectors, newbies, and hardcore believers in the NFT revolution. Paradox NFT Coin paired with the premiere Paradox NFT Marketplace will be your one-stop shop for everything NFT. Our Premium Marketplace will allow you to mint, buy and sell digital collectibles without any coding skills, all at one easy-to-use location. As we expand in numbers and increase our presence on the market, Paradox NFT will continue to grow and become the gold standard within the NFT galaxy.
Paradox NFT LLC wants to give our community on the Paradox NFT Marketplace the chance to influence judgments and incentivize active cooperation by launching our own token. Our new marketplace-management model has been demonstrated to be effective within the DeFi industry, and we’re delighted to launch one of the first NFT-specific tokens in the NFT galaxy. Meet Paradox NFT Coin (PNFT). The token of the Paradox NFT Marketplace. PXBSC enables the most active creators, collectors, and artists on the Paradox NFT Marketplace to buy, sell and mint their work while earning rewards and keeping fees to a minimum.
What Makes Paradox NFT Different?
First of all, the Paradox and the Paradox NFT Marketplace owners are not interested in short-term investments or making a quick buck. We are putting everything we have into this token and the Paradox Ecosystem (token + marketplace). With many new token releases, people will always try to hurt the token’s value by buying up as much as they can or pulling the rug out. In recent years, we have seen so many attempts to do things differently to prevent these types of people from buying their tokens. There are so many options, and it can be overwhelming to the point of insanity. Here at Paradox, we have a dedicated team with experience in the crypto space, we are launching this coin, and we will stick with it no matter what. That is the difference between these other weekend warriors that are huge on Friday and up in smoke by Monday and us. These types of tokens turn into stories passed from person to person until everyone gets so paranoid that they need assurances from the people backing the token. The owners of Paradox NFT LLC are all in. The developers started with an initial $50,000 in liquidity, sourced from their own hard-earned money, that they had been saving for years. Following a successful launch, the developers immediately reinvested $289,000 to create an UN-RUGGABLE, perpetual liquidity farm on the PadSwap exchange (more on this to follow). We are telling you this to let you and everyone know how serious we are about this new token. We know what to expect and what will happen in the first few days of launching. We also know that after the initial inflation and the instant dip, the token will jump back up when farming starts.
We initially launched the Paradox NFT token on the Binance Smart Chain on August 16th, 2021, with an initial supply of 500 Billion tokens and a starting price of .0000002. The ticker symbol for this token is PXBSC; this distinction is essential as Paradox plans to launch tokens on other chains in the future to be a truly cross-chain project catering to many different investors. PXBSC was initially launched on PadSwap, a decentralized exchange similar to PancakeSwap in functionality but safer and more secure on the programming end. The devs at PadSwap have developed a flash loan proof platform, easy to use and provides investors with an UN-RUGGABLE, perpetual liquidity pool. This gives investors peace of mind that their funds are SAFU. Paradox has also been completely audited pre-launch by Spade Audits to ensure your funds are SAFU. You can find results here (Certik Audit soon).
The Paradox NFT token is meant to be utilized as a currency on the Paradox Marketplace. With this in mind, PXBSC was launched as a defi token but with a relatively small tax of only 2% on all buys, sells, and transfers. The 2% tax is broken down as such:
1.0% Developer/Marketing/Donation Wallet
0.5% to the Un-Ruggable Liquidity Pool
In The Beginning
We will reserve some of Paradox NFT’s total supply for sellers and buyers on the Paradox NFT Marketplace. The more you participate, the more rewards you earn. Holders of Paradox NFT who also have a space in the Paradox NFT Marketplace will receive additional Paradox through weekly distributions according to purchases and sales volumes during that week.
By utilizing PadSwap for launch, we are able to take advantage of certain features that will benefit our token holders more than your traditional coin or token. Marketplace liquidity mining starts on 08/16/2021 at launch. Farming will begin shortly after.
Fear, Uncertainty, & Doubt
FUD Happens: We realize that the majority of what we are doing here is revolutionary in nature and will likely bring out a lot of FUD in everyone. To combat this, our developer and moderator teams will be very active in all of our social media spaces to ensure everyone has the most up-to-date information at all times. Your best bet, for the time being, is to signup for Telegram and Discord to get the most current data. In addition, we will routinely respond to any FUD and consistently reassure our partners and investors that they made the right decisions. Ultimately, our actions will speak for themselves. The project will be able to sail past any FUD that might be thrown our way.
All The Best Networks
Over the project’s lifetime, we have several networks we will be dumping tokens into to help reach a broader range of investors. We will dump tokens into Ethereum and L2 Optimism with other networks following after. We will reveal more on this as we get closer to launch on these platforms and our own. The network burns tokens when Paradox NFT is launched on other networks, which will want to be added to partnerships rewards.
Anyone with Paradox NFT tokens will serve as a sort of governance apparatus. It will empower collectors, creators, and artists to vote on various upgrades and determine how the platform should evolve further. This makes the governance of the marketplace’s platform directly responsive to our most engaged users and brings Paradox NFT Coin closer to being more of a public asset that is highly influenced by the community constituents who appreciate it most. We plan on making Paradox NFT tokens a staple of the NFT community. We are making plans for the future already. We understand the hesitation that comes with new tokens. When you buy, trade, or sell PNFT, you are not just getting tokens. You are trusting that we will follow through with our contracts and promises to you. Unfortunately, there are many people creating tokens for the wrong reasons, and you know who these people are. If you don’t know us, please take a moment to read about the owners here: https://pxnft.link/meet
Why Did You Launch On PadSwap?
PadSwap is a decentralized revolutionary exchange within the cryptocurrency space. We fully believe that their innovative approach to problems and the solutions they create will soon make them the default platform from which legitimate projects will launch. PadSwap is very similar in functionality to the widely familiar PancakeSwap; however, PadSwap’s security features and back-end coding make it far superior. For example, PadSwap is flash loan proof that helps protect investors’ assets and boosts confidence in their projects. PadSwap also does an incredible amount of due diligence before listing new tokens; this helps ensure that the platform does not list rug pulls or pump and dump tokens with zero utility.
In addition to all of this, PadSwap has solved the problem of “locked liquidity.” Up to this point, developers would lock liquidity away in a third party for a certain amount of time.
This presents two problems:
- What will they do with it at the end of that time?
- What happens if the third-party site is hacked or fails. PadSwap has solved this issue with their Decentralized Perpetual Liquidity Protocols (DPLP). In the case of Paradox NFT, the developer team donated $289,000 of PXBSC-BNB liquidity tokens to a farm. This means that they no longer have access to them and literally can not rug the project. This farm functions as the liquidity pool for the token. Community members will be able to farm this liquidity, ensuring that it is decentralized. The DPLP farm has a 10% in and out fee. 7.5% goes back to the liquidity pool, and 2.5% goes to the vault. This ensures that there will always be liquidity to farm and incentivizes more extended-term holding. The link below is a short video about PadSwap and their parent project Toad Network which will further explain their innovations https://vimeo.com/572300701
Paradox NFT Token Holder Rights
I. The Right To Vote On System Upgrades
Holders of any amount of Paradox NFT tokens can propose and vote on propositions concerning the following:
- New Paradox NFT Coin features
- The use of PNFT to further decentralize the development of Paradox NFT Coin
- In the beginning exploratory period for PNFT, most votes will initially be “advisory votes.” These are votes which will render us beacons of our users’ hopes for Paradox NFT Coin that, in most cases, we anticipate taking into consideration but will be treated technically as non-binding requests. However, over time we will work with the community of PNFT holders to produce a more precise structure where more votes can be obligatory and fulfilled.
II. The Moderation Of Creators
We believe in freedom of expression, and we think instituting any moderation, especially when art and artistic rights are involved, is a challenging task. Therefore, we are considering implementing a community-based voting system to help determine what is and is not appropriate or welcome. (We will be moderating shilling, political and religious posts or discussions within the group to facilitate an environment conducive to learning about the project).
III. The Curating Of Featured Artworks
“Hot or Not” (not images of people) contests and rewards will be featured randomly by the Paradox NFT team. The Paradox NFT Coin community and marketplace will have a chance to determine which NFTs and Products warrant a boost in visibility on the Paradox NFT Marketplace.
IV. The Option To Invest In Portfolios
For the connoisseurs who would like to invest in the Paradox NFT market but are hesitant or unsure of what artwork to choose, Paradox NFT LLC will provide the opportunity to invest in the NFT Index — a portfolio made up of the most promising NFTs.