The Vault
The Vault and AwesomeX Hybrid NFTs function much like a savings account for your $AWX tokens.
Last updated
The Vault and AwesomeX Hybrid NFTs function much like a savings account for your $AWX tokens.
Last updated
These NFTs offer a unique way to reduce the circulating supply of $AWX and acts as a secure wrapper for storing your tokens.
Each NFT is backed by a fixed amount of $AWX tokens, which can be claimed at any time by the owner by burning their NFT. There is a 3% burn fee when a user chooses to burn their NFT and claim the linked $AWX tokens that are stored in the Vault. The 3% Burn fee is sent to the AWX Treasury to further build out the AwesomeX Universe.
Let’s say an NFT had a set amount of 100 $AWX tokens stored in the Vault— When a user chooses to burn their NFT and receive the tokens linked to it, 3 of the tokens are sent to the AWX Treasury and the 97 tokens go to the user.
