🪙$GLX
The purpose for $GLX
Galaxy's revenue generation strategy encompasses multiple streams within the protocol, including fees and taxes. A significant portion of the generated revenue is allocated towards token burns, demonstrating Galaxy's commitment to reducing the supply of $GLX tokens circulating in the market. Through regular purchases of $GLX tokens from the open market, Galaxy initiates a process of token buybacks and burns, effectively removing acquired tokens from circulation by sending them to a dead address. This systematic reduction in the circulating supply of $GLX over time contributes to upward price pressure, potentially increasing the value of each remaining $GLX token. The deflationary nature of $GLX, augmented by its limited and fixed supply, enhances its scarcity and attractiveness to investors.
This deflationary model aligns with the broader trend in DeFi, where tokens with deflationary characteristics aim to provide additional utility and value appreciation for their holders, visit Reduced Collateral for more info. Notably, Galaxy ensures scarcity by imposing a strict cap on the total supply of $GLX tokens, with only 10 million $GLX tokens ever to be in circulation. This combination of consistent burns from protocol-generated revenue and a fixed supply underscores the deflationary trajectory of $GLX, reinforcing its appeal.
Token Details
Ticker: $GLX
Total Supply: 10,000,000
Chain: Ethereum
Token Address: XXXXXX
Token Distribution
| Category | Allocation | Tokens |
|---|---|---|
Pre Seed | 0.24 % | 24,000 GLX |
Team & Advisors | 16.70 % | 1,670,000 GLX |
Seed | 0.55 % | 55,000 GLX |
Private Sale | 9.50 % | 950,000 GLX |
Public Sale/LBP | 18.0 % | 1,800,000 GLX |
Liquidity | 4 % | 400,000 GLX |
Marketing | 18 % | 1,800,000 GLX |
Treasury | 33 % | 3,300,000 GLX |
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