BlockX White Paper
The cross-chain protocol for Metaverse, DeFi, & NFTs
Abstract
This white paper introduces and overview of the BlockX Network, a multi-chain payments layer-1 blockchain for Metaverse, DeFi, and NFTs. It outlines all the information concerning the business model of the project, marketing plans, products, services, and further details about the BlockX ecosystem.
Introduction
BlockX is an Ethereum alternative blockchain built for a new generation of dApps for the Metaverse, DeFi and NFTs. BlockX is built on the delegated proof-of-stake (DPoS) consensus, and enables instant transactions for transfers and applications. The key features of the BlockX chain include:
Multi-chain Issuance and Settlements
Digital Identity On-chain (SSI and Centralized)
Offchain Data Link Oracles
Cross-Chain
BlockX allows for issuance and settlement of assets on multiple chains. This enables:
Building of dApps that may require assets from multiple chains
Any project built on another chain can be readily and easily ported to BlockX for execution and settlements
A Network of Networks
We aim to become the network of networks, and the primary hub of the blockchain world where multiple chains can operate.
Digital Identity -
Social Logins for Web 3.0
BlockX on-chain ID is a portable identification system that can used in multiple dApps throughout the ecosystem.
IDs can be:
Centralized
Self Sovereign Identity-based (SSI)
A user can verify their KYC/AML and accreditation status at once, then start using multiple dApps securely on the blockchain.
Off-Chain Data
Quite a number of dApps today require off-chain data to operate. BlockX integrates high-performance oracles natively, for a real-time data link between APIs. Some of this data can be related to:
Identity of Assets and Individuals
Compliance
Financial Markets data
Maps
Key Solutions & Industries
Some of the key industries BlockX is focusing on are:
Metaverse
DeFi
NFTs
Asset Tokenization
Additionally, this blockchain infrastructure can be used in the following sectors to transition them to the blockchain era via BlockX:
Banks
Exchanges
Traditional Finance
CBDC
Stocks
Bonds
Loans
Funds
Real Estate
Games
NFT Marketplaces
Metaverse & NFTs
Traditional banks and other centralized institutions cannot keep up with the development of the Metaverse & Web 3.0. Currently, the average person spends 10 hours per day looking at a screen.
This behavior automatically onboards the user to the Metaverse. We need to realize this at scale, and build specifically for this upcoming reality, focusing on:
Identity of individuals
Security of digital assets
Transactions on the Metaverse
BlockX opens doors to a viable Metaverse with an ecosystem of digital assets, including NFTs and crypto tokens.
DeFi & Tokenization
BlockX aims to completely transform the global investment industry and eradicate a series of key pain points. This will democratize investments and spur an increase in direct market participation and expansion.
Such expansion of capital markets will help finance the future ventures and endeavors of entrepreneurs, accelerating the overall progress of human civilization.
What is Tokenization?
Asset tokenization is the process of converting ownership rights of a tangible or intangible asset into a digital token on a blockchain.
This can be compared to the traditional securitization process, but with a modern twist. Asset-backed tokens (ABTs) are created via a form of Initial Coin Offering (ICO), commonly known as a Security Token Offering (STO) to distinguish them from other tokens.
An STO is used to create a digital representation of an asset, implying that a security token could represent company shares, ownership of a property, or participation in an investment fund. ABTs can be traded on a secondary market, like the Tokenizer DEX.
You can tokenize real estate, stocks, bonds, domains, venture capital, metals & commodities, intellectual property, FX & derivatives, identity, luxury goods, funds, art, private equity, corporate debt, and others.
Tokenization can create a more effective and fair financial world by significantly minimizing the friction involved in the fundraising, investing, and trading of securities.
It will make the financial industry more accessible, cheaper, faster, and efficient, unlocking trillions of dollars in currently illiquid assets, and significantly increasing trading volume.
Tokenization can create a more effective and fair financial world by significantly minimizing the friction involved in the fundraising, investing, and trading of securities.
Tokenomics
BlockX Token (BCX)
BCX is the native currency that fuels all the activities in the BlockX ecosystem. Initially, 600 million BCX tokens will be created on multiple chains. These tokens will then be swappable for BCX Mainnet tokens after the BlockX Mainnet is launched.
BCX Token Supply Allocation
BCX Token Use & Info
Gas Fees: All gas fees on the BlockX chain will paid using only the BCX token
Staking rewards: BlockX token can be staked for up to 20% APY
Application fees: Different partners and affiliated tokens can make BCX their main mode of payment
Validators & node operators: Validators & node operators are recommended to have a minimum number of BCX tokens to join respective programs
Contract address on BSC: https://bscscan.com/ token/0x8d11b81a3d4bea2dc1e240241141e32 7b6922d6b
Inflation: 20% per annum
Use of funds
Development
30% of funds will be used to build the BlockX platform, including recruitment, training, and maintenance of the overall infrastructure.
Business Development
50% will be used for marketing and business development to construct the marketplace and educate the Tokenizer ecosystem partners, including but not limited to:
Investors of various types, from individuals to financial institutions
Projects and assets to get BlockX on other platforms
Ecosystem partners such as brokers, custodians, exchanges, and other tokenization platforms and chains, traditional banking and investment institutions, financial product distributors and advisors, and local licensing authorities
Branding, marketing, and advertising companies to build the Tokenizer brand globally
Reserve
20% will be kept in reserve to cope with any emergencies or unexpected situations that might come up.
Validators
Validators are nodes responsible for keeping the blockchain running. They create new blocks and confirm all the transactions within the chain.
Earnings
The BlockX ecosystem uses DPoS consensus. Considering that the ecosystem has a global inflation rate of 20%, Validator operators earn an additional 20% BCX per annum, on top of the gas fees paid by the smart contracts users.
Key Points
It is recommended that Validators have as many tokens as possible in their node to ensure there’s potential for earnings and cost coverage. Validators are to set a service fee that they will charge delegators.
Becoming a Validator
Once approved, validator operators can use a Command Line Interface (CLI) when running a node, and in the future, a Graphical User Interface (GUI) on a web browser that connects to nodes. Service fees can also be configured using these tools.
Delegators
Delegators are users who delegate their BCX to validators for a fee to earn or stake additional BCX
Earnings
Delegators earn additional BCX based on the inflation rate of 20%, minus a small fee that Validators charge for using their nodes.
Requirements
Delegators must choose a validator their tokens will be delegated to using validator IDs. Delegators must also set a duration for which their BCX will be locked.
This will be a minimum of 1 week and a maximum of 10 years. validators can have their own set of fees for these durations. The minimum amount that can be delegated is 1000 BCX.
Staking
One may use either a standard Command Line Interface, or in the future, a Graphical User Interface on the web that connects to digital wallets.
There, BCX can be delegated to a validator of a user’s choice, and the required data can be filled up. potential earnings can also be found on one of these interfaces.
Summary
Metaverse, DeFi, and NFTs will define the next wave of development in blockchain, and technology as a whole.
BlockX is well-positioned to play a leading role in the development of this critical blockchain infrastructure that forms the bedrock of many future technologies.
Disclaimer:
The information set forth above may not be exhaustive and does not imply any contractual relationship elements. Its sole purpose is to provide relevant and reasonable information to potential token holders to determine whether to undertake a thorough analysis of the project with the intent of purchasing BCX tokens.
Nothing in this white paper shall be deemed to constitute a prospectus of any sort or a solicitation for investment, nor does it in any way pertain to a solicitation of an offer to buy any securities in any jurisdiction.
This document is not composed per and is not subject to laws or regulations of any jurisdiction designed to protect investors.
BCX is a utility token. This product is not a digital currency, security, commodity, or any other financial instrument. It has not been registered under the Securities Act, the securities laws of any state of the United States, or the securities laws of any other country, including the securities laws of any jurisdiction in which a potential Tokenizer Token holder is a resident.
The BCX token confers no other rights in any form, including but not limited to any ownership, distribution (including but not limited to profit), redemption, liquidation, proprietary (types of intellectual property), or other financial or legal rights, other than those specifically described in the white paper.
All statements contained in this white paper, statements made in press releases or in any place accessible by the public and oral statements that may be made by BlockX or their respective directors, executive employees or team's representatives acting on behalf of BlockX (as the case may be), that are neither statements of historical fact nor do they constitute "forward-looking statements"
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