$PURPX
Last updated
Last updated
At PurpleFi, we believe in putting the power in the hands of our dedicated community. That's why we're excited to introduce $PURPX, our governance token. $PURPX isn't just a token; it's your voice in shaping the future of our platform. $PURPX represents revenue shares in PurpleFi, enabling holders to earn a share of the profits generated by the PurpleFi’s ecosystem.
$PURPX tokens represent revenue shares in PurpleFi, enabling holders to earn a share of the profits generated by $PURPX when staked. Additionally, $PURPX token holders have the privilege to participate in voting on crucial platform decisions, giving them a voice in shaping the future of PurpleFi.
By staking $PURPX in a PurpleFi special vault, the $PURPX earnings pool, or any $PURPX liquidity vault, as well as holding the token in their wallet, users gain the opportunity to participate in the DAO decision-making governance processes of PurpleFi. The unique feature that sets PurpleFi apart is that users are not required to un-stake their tokens to take part in the voting process. This incentive encourages greater voter participation, as users can actively engage in the voting process without missing out on potential rewards.
For every vault deployed on any blockchain, PurpleFi's native governance token $PURPX takes a central role. The platform's revenue is derived from a small portion of all vault profits and is distributed back to those who stake $PURPX. The revenue sharing mechanics offer two enticing options: staking $PURPX in a PurpleFi special vault to earn more $PURPX or participating in the PurpleFi Earnings Pools to earn blue-chip assets like $ETH, $BNB, and more. This provides users with flexible and rewarding choices to optimize their earnings within the PurpleFi ecosystem.
When users stake $PURPX in the PurpleFi special vault, they have the opportunity to accumulate more $PURPX tokens. To ensure a fair distribution, PurpleFi conducts buy-backs from the open market. The $PURPX token follows a non-inflationary model and will never mint any additional $PURPX tokens. This approach ensures that the distribution of $PURPX to those who have staked in the PurpleFi special vault remains sustainable and controlled, without causing inflation or dilution of existing token holders.
