Tokenomics

$FBX Token (Governance Token)

What is $FBX token?

$FBX is a utility token of the ForthBox platform that was built on BEP20, it will also be the governance token of the to-be-launched ForthBox DAO. $FBX token is used for all interactions within the ForthBox ecosystem. ForthBox is going to build a multi-chain platform, initially starting to develop on the BNB Smart Chain (BSC). ForthBox NFT uses ERC1155 and ERC721 standards for storage and trading.

BEP20 Contract Address: 0xFD57aC98aA8E445C99bc2C41B23997573fAdf795

Issuance proportion

Token Name: FBX

Protocol: BNB Smart Chain

Standard: BEP 20

Total Supply: 1 billion, no additional issuance

*Distribution proportion pie chart

Application scenarios

Repurchase and Burning mechanism

In principle, 80% of revenues from games along with 40% of revenues from Ham feeding will be allocated to the "Automatic Repurchase and Burn" pool measured in $USDC. Our smart contract will check the average price of $FBX over the past 72 hours. Whenever the price is below the 72 hour average, the smart contract is triggered, with the funds in the repurchase pool converted to $FBX tokens and burned simultaneously.

*Burning mechanism

When the $FBX market price is lower than the 72-hour average, it will trigger the repurchase system. $1000 USDC as a unit of purchase each time, and it is retrieved 2 times every 1 hour. The maximum trigger is 48 times per day, and the total amount is 48000 USD.