Introducing $LOGX, LogX Network’s utility token.
The LogX Foundation is proud to unveil $LOGX, the native governance and gas fee token of LogX Network, marking a significant advancement in growing a fully community-driven protocol. The $LOGX governance token is set to play a pivotal role in empowering LogX users and contributors to impact decision-making processes and guide the future direction of the LogX ecosystem.
Why Now?
LogX V1 launched in August 2023. Since then, LogX has grown to become the most omnipresent perp dex live across 17 EVM networks. LogX V1 has crossed a cumulative trading volume of $20+ billion. We thank the 1.2M+ users who have used LogX Platform for trading derivatives.
Building on a solid foundation established over the past one year, our ambitions started evolving LogX into a suite of consumer use cases beyond the perp dex. LogX Network, set out to unlock the next phase of growth, will bring exotic perps, leveraged prediction markets and much more to the DeFi market.
$LOGX is the native governance and gas fee token of the LogX Network. With the launch of the upcoming LogX Network main-net, $LOGX will drive the future of the protocol.
$LOGX Token Allocation
$LOGX Emission Schedule
Team Allocation - 16%
This portion of the token supply is reserved for core contributors, who have worked across engineering, infrastructure, business development, security, marketing, and more to get LogX to where it is today.
No $LOGX will be unlocked at TGE for the core contributors. Core contributor tokens are subject to a 6 month lock-up period, followed by a 30-month linear vesting period.
Investors and Advisors Allocation - 17%
Investor and advisor tokens are subject to a 6 month lock-up period, followed by a 30-month linear vesting period.
Community Allocation- 67%
Airdrop Season 1: 12%
12% tokens will be allocated all the users till date
50% allocation of users who hold more than 50,000 $LOGX at TGE would be subject to 3 month vesting
9% of Airdrop season 1 allocation is expected to unlock at TGE, while the remaining 3% would unlock after the 3 month vesting period.
Any allocation left from season 1 will go back to future community rewards
Tokens will be airdropped on LogX Network with gasless claiming and staking.
Foundation: 15%
Purpose is to support $LOGX liquidity on both CEX and DEX platforms, provide ecosystem and builder grants, foster partnerships, and execute other relevant initiatives
4% of total $LOGX supply will be made available post TGE to enhance $LOGX token liquidity
Remaining 11% tokens are subject to a 6 month lock-up period, followed by a 36-month linear vesting period.
The Foundation’s objective is to ultimately transfer full control of the network to the DAO.
Future community rewards: 40%
Future trading and staking boost rewards to enhance participation and increase both volumes and fees across the LogX ecosystem.
Rewards will also include providing a 100% subsidy for a gasless experience.
LogX has pioneered an infinite liquidity model, sourcing liquidity from CEXes to ensure a seamless trading experience. Rewards will be provided to solvers to offer competitive liquidity quotes.
Community allocation would be distributed across a span of 80 months.
$LOGX Token Utility
$LOGX token has been deeply embedded into LogX Network ecosystem to provide value to all the stakeholders. Some of the ways $LOGX will be used are:
Governance: $LOGX token holders will be able to stake their $LOGX in order to participate in DAO governance voting and participate in decision-making voting for integration of new chains, new consumer app deployment and budget approvals.
Net revenue share: 100% of net revenue will be shared with $LOGX stakers via buyback and distribute program
Ecosystem airdrops: As LogX Network expands and launches new products, $LOGX stakers will get airdrops for using the product.
Partner Airdrops: LogX works with 30+ partners closely who value the LogX community. $LOGX stakers will get partner airdrops from them
Boosted trading rewards: $LOGX holders and stakers will get boosted trading rewards when they interact with LogX ecosystem
Gas fee: $LOGX is the native gas fee token of LogX Network and $LOGX stakers will get 100% gas subsidy when using LogX Network
Early Access to Premium Features: Token stakers gain early access to premium features, fostering a sense of exclusivity and encouraging user feedback for continuous improvement.
Disclaimer
The Foundation will keep you informed once the final eligibility checker, claim and staking is live. Note that LogX contributors will never approach you, ask you for personal information or ask you for money.
We strongly advise our community members to exercise caution and be wary of potential scams or illegitimate pages.
THIS DOCUMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO PURCHASE ANY $LOGX. IT DOES NOT CONSTITUTE AN OFFERING, ADVERTISEMENT, SOLICITATION, CONFIRMATION, STATEMENT, OR ANY FINANCIAL PROMOTION THAT CAN BE INTERPRETED AS AN INVITATION OR INDUCEMENT TO ENGAGE IN ANY INVESTMENT ACTIVITY. THE CONTENT PROVIDED HERE SHOULD NOT BE RELIED UPON FOR LEGAL, INVESTMENT, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVICE AND IS NOT A SUBSTITUTE FOR CONSULTING WITH A QUALIFIED PROFESSIONAL.
THE DOCUMENT CONTAINS HYPOTHETICAL, FORWARD-LOOKING, AND/OR PROJECTED FIGURES THAT ARE NOT GUARANTEED AND MAY CHANGE; ACTUAL RESULTS MAY DIFFER. LOGX MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING THE COMPLETENESS, RELIABILITY, VALIDITY, OR ACCURACY OF THIS INFORMATION. THE CONTENT MAY CONTAIN ERRORS AND INCORRECT INFORMATION. YOU ACKNOWLEDGE THAT ANY INFORMATION PROVIDED HEREIN IS SUBJECT TO CHANGE WITHOUT NOTICE. NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED FROM LOGX, WILL CREATE ANY WARRANTY OR REPRESENTATION NOT EXPRESSLY STATED HEREIN.