How does MAXX Work?
A basic view of the intricate system that is MAXX Finance
The primary function of MAXX is to allow you to stake your $MAXX tokens and earn a yield on those tokens based on functions pre-programmed into the smart contract.
MAXX is designed to appreciate in value and grow exponentially. The main multipliers come into play for participants who are staking for a longer period or staking larger amounts. This is how the highest APY is earned. Once the staked period is up, it's possible to repeat the process and earn extra yield.
We have also implemented lots of traction features to help get MAXX the exposure it deserves, from Genesis NFT's which plugin and boost your stakes, to our amazing referral program, the airdrop & freeclaim which goes to 70M Wallet addresses, and much more!
Stakes can be created for any duration between 1 to 3333 days. Although they are not supposed to be withdrawn until reaching maturity, they can be 'early unstaked' if a user is desperate to free up some capital. This does come with penalties, which we will explain later.
We have also created a system that allows you to transfer your active stakes to other users, or list them for sale in a marketplace to allow trading on popular platforms like Opeansea.io. This ensures constant access to liquidity and solvency of MAXX at all times. This is done through ERC-721 Contracts or {NFTS} MAXX plans on creating its own marketplace Q1-Q2 2023.
The platform is easily accessible through mobile and desktop browsers using a Web3.0 wallet such as Metamask or TrustWallet. Users own their private keys every step of the way. All interactions happen between your blockchain wallet and the smart contract directly. This means there's no need to physically move your tokens (in the same way you would on a centralized exchange) or ask for anyone's permission.
Privacy and security of our users is the first priority. This is why our smart contracts are being audited by three different parties. (private audit group, bug bounty, and community)
The ecosystem has a gamified system that encourages the network to be deflationary and during the testnet we have seen this work very well.
The core utility of MAXX is to allow users to protect the price and the protocol by staking and trading in the eco-system, as it gradually expands in functionality over time.
MAXX Ecosystem
MAXX utility features are in the form of owning validator nodes on multiple EVM networks which are top projects and not speculative investments. The yield generated through these protocols will be distributed back into the MAXX Vault which is community governed. During certain cycles of the crypto market (ex. bull market / bear market), we may reposition these validators to protect them from volatility and distribute them into stablecoins such as USDT / USDC and provide liquidity with minimal risk to the funds.
Finally, we plan on creating an incubator program in which the vault will fund other startup projects and invest in project creators, developer teams, and others that are proposed to the community through a DAO voting system.
2023 Q2-Q3 we plan on building additional revenue-generating applications on top of our project to allow MAXX stakers to earn even more rewards always thinking about benefiting our users.
Q2-Q3 2023 MAXX hopes to add multichain functionality to further expand our ecosystem to sidechains such as ETH - BSC - FTM - AVAX and other MAJOR sidechains.
Last modified 9mo ago