The SonicX platform token is called SOX. It follows a sound tokenomics principle of medium of exchange for goods
and services, transfer of value and proof of ownership. There are two main uses of SonicX tokens -
- Reward for Supernodes and Masternodes operators.
- Fee payment system for SonicX Exchange.
There will be 100,000,000,000 SOX coins total supply. Coins refers to the asset, while tokens refers to the
cryptocurrency used in transactions. There will be no mining involved on the SONICX platform but instead will
be using a staking protocol that will let special nodes hold coins as part of their commitment to stake their
own funds to help validate blocks on the network.
SOX is considered as a tradeable and fungible asset token. As a coin it is a digital asset that is verified on
the SonicX blockchain. SOX tokens cannot be counterfeited since they have all been generated from the platform only.
There is no way a bad actor can create their own SOX tokens since the platform is the only verifiable source for
this. The SonicX web wallet provides the best way to keep track of the SOX balance. Eventually there will be support
for hardware wallet and cold storage options.