Full details of the new rewarding program launching Jan 1st 2023.
As per our Whitepaper 2.0 we introduced a secondary token, $UtiliteX, to serve the Treasury Ecosystem.
The purpose of this token has always been to bring value to it's holders both as an opportunity for passive income, but also as a means to access Treasury's products and services.
After an initial 1:1 airdrop to all holders of 500 or more of our ecosystem's native issued asset $TRSRY, $UtiliteX has been available to purchase from other holders on the Dex. We have however over the last few months been rewarding holders $TRSRY, delivering them $UtiliteX initially monthly, then bi-monthly, based on their holdings.
Through a soft-staking program (LeoKings' Xpad platform), holders participating also received additional $UtiliteX paid daily just for holding.
To date, a total of 46.6M $UtiliteX has been put into circulation.
As stated above, $UtiliteX was issued as Treasury's utility token, and to date it's holders have been able to trade it for passive income or use their holdings to vote for any of the candidate projects in our Treasury Venture platform, helping new and young projects thrive and grow on the XRPL, receiving rewards from the winning project in return.
As we edge towards releasing our next utility, namely Insur, (an insurance product for holders of $UtiliteX against other investments they have made on the XRPL) we have re-evaluated the tokenomics and distribution model for our utility token, and effective from January 1st 2023 the rewarding structure is set to change.