NTX token

NTX is the native token of NeutronX. It is used for staking, voting and paying gas. Collateral, PnL and trading fees are counted in USDC, not NTX.

Supply

• Amount. 1,000,000,000 NTX in total. No new tokens are issued: inflation is 0, and the maximum supply is capped by a parameter of the mint module. Only governance can change these parameters.
• Units. Denom untx, 6 decimals: 1 NTX = 1,000,000 untx.
• Source of rewards. Stakers are rewarded from protocol fees, not from issuance.
• Burning. NTX is burned when validators are slashed and when a proposal deposit is burned on a veto or a cancellation.

What NTX is for

• Staking. The bond of validators and delegators. Honest work earns a share of fees; violations are slashed.
• Governance. Voting weight equals staked NTX. A delegator votes directly or inherits the vote of their validator.
• Gas. Gas can be paid in NTX or in USDC.

Allocation at launch

Pool addresses. Anyone can check the balances with the REST request /cosmos/bank/v1beta1/balances/{address}.

• No new tokens. The allocation is set in genesis. There is no other source of new NTX.
• Treasury. It is a regular address. Its NTX is currently not delegated and does not take part in voting.