Introducing the $ROOT token
What is ROOT?
ROOT token is the token for the BearX ecosystem. ROOT is seen, at its inception, is a utility token of for the BearX collection. ROOT is a cryptocurrency on Ethereum chain, with a key focus of rewarding long term holders of the token and holders of BearX NFTs. The ROOT tokenomics are built to reward holders every single time a transaction occurs, alongside a daily reward if you hold a BearX NFT.
ROOT is also the governance token for BearX, and will be used to carry out proposals and voting throughout our roadmap. More to this, it will be a key driver to the spend of the community fund wallet for the BearX ecosystem.
We have seen a crazy rise in search results on both Twitter, Discord and Google, and we are overwhelmed with the growth that has seen us grow to over 125,000 followers in about 10 days. The craziest thing about it is that we are only just getting started and til now, have spent zero on marketing and promotion — this is all organic and a great marker to how big the entire project, (notably in this case ROOT) can and will be. ROOT is a fun token, built for the community, and we intend this to be a driver for the entire ecosystem.
Why ROOT? Why should I hold this?
Daily Rewards: Multi layered reward functionality. Get daily rewards not only if you own a BearX NFT, but also simply by holding ROOT. Every transaction that occurs, holders earn ROOT through our redistribution functionality.
Utility, Utility, Utility: ROOT token holders get access to exclusive events, challenges and NFTs by simply holding
ROOT Swap — On and Off Chain Value: Buy products, and get access to rewards on and off chain, including merch, and event access, through our ROOT swap tool.
TOKEN SYMBOL: $ROOT
DAILY INFLATIONARY SUPPLY: 37,000
MAX SUPPLY: 135,050,000
REDISTRIBUTION REWARD (at launch): 2%
DEFLATIONARY BURN MECHANICS: NFTs, Events, Digital Collectibles, Project quarterly burns
2% Usage Reward (Redistribution)
REWARD MECHANIC: (As it stands), only BearX Genesis series yields 10 $ROOT tokens per day, everyday, for the next 10 years. Claimable through our website.
It is important to note that any buy, sell or transfer of tokens triggers the burn, redistribution and LP addition to occur.
USE CASES / UTILITY:
MiniBearX — the secondary BearX collection
Challenges — available only to holders of ROOT
Daily Rewards — available only to holders of BearX. Holders can claim 10 ROOT a day through our website.
Digital BearX Merch — collectibles for the metaverse, all very, very limited.
IRL BearX Merch — Hoodies, T-shirts and more.
Exclusive access to events — Rewarding holders based on time and accumulation
Voting — Ability to vote on key aspects to the future of BearX and ROOT token
The overall goal for ROOT is to change the way the world sees NFT tokens. Through our roadmap we intend to deliver game changing Tokenomics, partnerships, collaborations, challenges, events, rewards and (of course) utility to ensure ROOT is a solid, standalone token in its own right.
The community will vote on proposals for what and when ROOT will have future utility through our voting mechanism, launching soon.
Here is an insight on some of our future plans and how we intend to use the ROOT token:-
Partnerships / Collaborations: We intend to create industry defining partnerships on and off chain with large brands and innovators within web3
Challenges: Our challenges has a core goal — to provide a fun and challenging reward system to those who are holders of ROOT token. Want an example of a challenge? Well imagine a browser based ‘Easter egg hunt’ style challenge where the winners are the first 5 who solve a puzzle.
Events: Imagine a real life or online event, that is only available to holders of ROOT, and if you attend it, you get rewards / and exclusive NFT? BearX Events are coming.
How to buy?
As soon as the token is live, we will update the community via discord on instructions on how to buy. This will also be updated.
BearX including but not limited to the overall project, the token, website, smart contracts and any apps (“BEARX LABS”) as presented in this conceptual paper is not an licensed, unlicensed or exempted financial or payment service of any kind and in any jurisdiction. Any terminology used in any documentation, on the Website or within the app is intended only as a basic reference, without any effective or legal meaning of the same terms in a regulated and/or financial environment. BearX is a fully and completely decentralized and community driven project and does not have owners, shareholders, promoters, marketers, managers, directors or other figures or entities exerting any form of governance; the BearX smart contracts are open-source, security audited, permanent and non-modifiable in any way. The BearX token is strictly a utility token in any jurisdiction and is not and can not be considered as a security or otherwise a regulated token of any kind, is not in any way e-money and/or a fiat or asset backed stablecoin, whether global or limited in scope. The documentation in itself is not a contract or a contractual agreement of any kind, is not an invitation, solicitation or offer to invest in Bear X or acquire or use its Bear X tokens in any way and with any expectation of profit in any form. Any user of BearX declares to have received appropriate technical, administrative, regulatory and legal advice before and after accessing and/or reading this documentation, the website and using any portion or element of BearX (including any BearX token therein) and accepts that there is an inherent high risk in accessing, acquiring or using any kind of blockchain and/or crypto system, token, platform, software, interface including BearX and further acknowledges with full disclaimer for any community member directly or indirectly involved with BearX, that there can be any kind of damage suffered, including total loss.
NFT Contract: https://etherscan.io/address/0xe22e1e620dffb03065cd77db0162249c0c91bf01
Token Contract: https://etherscan.io/token/0xd718ad25285d65ef4d79262a6cd3aea6a8e01023
Token Chart: https://www.dextools.io/app/ether/pair-explorer/0x098e65379ab97251b4b9261fd879acc08186a16b