🪙MBXN Token
Token Mechanics
MBXN is available as a BEP20 token on BNB Chain, with more networks to follow. MBXN is a utility token that powers the UpBots platform and makes the UpBots ecosystem function correctly. Fundamentally the token has been designed to be linked closely to the adoption of the UpBots trading ecosystem.
The token can be traded on the open crypto market, either on centralized or de-centralized exchanges, or through DeFi swaps.
Where the token is mandatory on UpBots, the conversion is automatic on SuperBots and users don't need it.
Total supply
All tokens were minted at the creation of the Smart Contract, for a total of 500,000,000 MBXN. This amount is the maximum limit, however over time this will be reduced by 50%+, starting with an immediate burn of 100M tokens ahead of the first listing of the token on a CEX (June 2024)
Token Allocation Breakdown:
● Partnerships, Marketing, and Advisors (30%)
Allocation: 30% of total supply
Details: These tokens will foster strategic alliances, promote MBXN, and engage in consultancy services to drive growth and adoption.
● Future Incentives or Airdrops (10%)
Allocation: 10% of total supply
Details: Locked for future incentives or airdrop events to increase user engagement, reward community loyalty, and encourage participation in the MBXN ecosystem.
● Liquidity on CEXs or DEXs (15%)
Allocation: 15% of total supply
Details: Ensuring ample liquidity and smooth trading on both centralized and decentralized exchanges. These tokens will be partially locked and gradually released over a 12-month period.
● Rewards/Staking Rewards/Burn of Tokens (20%)
Allocation: 20% of total supply
Details: Incentivising holders to stake their MBXN tokens, contributing to network security and stability. Stakers will receive additional MBXN tokens as rewards. Some specific events like the burning of tokens are also planned.
● Founding Team (5%)
Allocation: 5% of total supply
Details: Compensation for the founding team’s efforts, aligning their interests with the project’s success. These tokens will be subject to a vesting schedule to ensure long-term commitment.
● Company Operating Expenses and Research & Development (20%)
Allocation: 20% of total supply
Details: Covering operational costs and ongoing R&D efforts to support continuous improvement and innovation within the MBXN ecosystem.
Token Locking: Vesting Schedule & Liquidity Release
The stability and sustainability of the growth of MBXN was carefully considered and a vesting schedule was created for each of the token allocations mentioned above where it was practical to do so.
Founding Team (5%): 5 year lock: 4% locked, with 2% released after 2.5 years and 2% after 5 years.
Partnerships, Marketing, and Advisors (30%): 25% locked with 5% released every 6 months for 30 months.
Future Incentives or Airdrops (10%): 18-month lock with 2.5% released after 6, 9, 12 and 18 months.
Liquidity for Exchanges (15%): No locks, as this would be detrimental to the growth and liquidity of $MBXN.
Operational Costs & R&D (20%): No lock to ensure the project can continue to operate efficiently.
Token Scarcity
The token was created with a strategy of scarcity, relying on the progressive reduction of the number of available tokens, by buying them back and burning them.
Token Burning Program
Burn Program One - Performance Fee Burn
Services on UpBots and SuperBots that are linked to the performance fee system, will Burn a % of the profits users make. This program will be active until 50% of the total supply of MBXN has been burned (250,000.000 MBXN).
Burn Program Two - UpBots Net Income (Extended 2 years with MBXN)
15% of the UpBots/SuperBots net income will be used to do a buy and burn at the start of every following year. This is in addition to the MBXN that will be burned by the performance fee system when it is activated. The UpBots Net Income Burn program will be active until Q4 2026 with the percentage scaling down each year until 2026.
The goal of Burning Program Two is to accelerate the burning process. To do this we allocate a portion of the net profits made by UpBots for the year to a buy and burn event.
Burn Program Three - Initial Burn
100M tokens will be burned ahead of the first listing of MBXN on a Centralised Exchange., immediately reducing the supply down to 400M tokens.
Burning will reduce the supply making MBXN a deflationary token. Over time this will concentrate the value of MBXN into fewer coins.
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