DeBox is about to issue a coin, will it be the next upstart in the SocialFi track?

Original | Odaily Planet Daily ( @OdailyChina )

Author | Asher ( @Asher_0210 )

On September 9, DeBox’s official Twitter account announced the BOX token economics. 5% of the total tokens will be used for airdrops, with no lock-up period. At the same time, the vDBX held by users on the platform will be exchanged for BOX tokens at a 1:1 ratio, and the exchange interface will be open soon. “DeBox, which has been under construction for more than 2 years, is finally going to issue tokens.” A group of DeBox OGs in the community became active instantly.

Next, Odaily Planet Daily will take you to learn about the DeBox project, BOX token economy, and listing activities of multiple exchanges.

Project Introduction

Image source: Official Twitter

DeBox is a Web3 community management tool based on DID. Users holding ERC-20 tokens and NFT users can join the corresponding groups without permission and can use the lottery, proposal, voting and other functions provided by the product. Debox connects the user side and the community side and is a bridge to meet the needs of both parties. On the community side, it is a community-driven management tool, including elections, voting, finances, activities, lotteries, airdrops, activity evaluations, etc.; on the user side, it provides all users with equal, permissionless and simple access to information portals. In addition, in order to truly enable community groups to achieve co-construction and win-win results, a new protocol, DeBox Share, has been launched.

It is worth mentioning that as early as March this year, OKX Ventures made a strategic investment in DeBox . Dora Yue, founder of OKX Ventures, said: OKX Ventures has been committed to building a Web3 application with tens of millions of users. DeBox, which aims to serve the community, supports one-click wallet login and decentralized management. In addition to providing each user with native NFT as an avatar, decentralized identity authentication DID can be used to build digital assets belonging to the user circle. What is more exciting is that DeBox can interact with other Web3 decentralized applications DApp in real time, just like the Bitcoin community. With the rapid development of the ecosystem, we believe that DeBoxs rich interactive experience and efficient and lightweight can help the exponential growth of Web3.

Token Economics

On September 9, DeBox announced the economics of BOX tokens. The total amount is to be determined. The specific distribution ratio is as follows:

• Foundation: 20.00% of the total token supply;

• Ecosystem Incentives: 35.00% of the total token supply (Foundation and Ecosystem Incentives will be distributed to DeBox protocol (DeSwap/C2C asset exchange, etc.) users and DeBox NFT holders);

• Launch marketing: 1.00% of the total token supply, which will be unlocked at TGE;

• Airdrop: 5.00% of the total token supply, which will be released during the TGE;

• Investors: 20.00% of the total token supply, which will be released within 24 months after the TGE;

• Team: 17.00% of the total token supply, which will be released within 48 months after the TGE;

• Liquidity: 2.00% of the total token supply, which will be released at the TGE.

BOX Token Economics

At the same time, DeBox also clarified the holding value of BOX tokens, including:

• Payment: BOX is the basic payment method of DeBox, including game projects, pre-sales, advanced features, etc.

• Staking: Staking BOX can obtain rewards from the DeBox ecosystem protocol;

• Burn: The total supply of BOX tokens will continue to decrease, and the specific token burning rules will be released soon;

• Lending: BOX can be used as collateral in the DeLend protocol;

• Governance: BOX is the governance token of the DeBox ecosystem.

BOX Token Utility

Regarding token incentives, DeBox not only reserves 5% of the total token supply for airdrops for early participants, but also uses 35% of the total supply for long-term incentives in its ecosystem after the token is issued. Through this continuous token incentive mechanism, DeBox aims to establish a highly sticky interactive relationship with users.

BOX will be launched on multiple exchanges soon

There seems to be a clue that DeBox will issue a coin this month. On September 3, DeBox posted a message on the X platform, asking the community about the exchanges that everyone usually uses. This news quickly sparked heated discussions in the DeBox community, and many people speculated that the long-awaited DeBox may really be issuing a coin in the near future.

Ask the community which exchanges they are using

As expected, DeBox announced the BOX token economics in the following days. What is more noteworthy is that after the release of the token economics, most of the official content was related to the cooperation with exchanges to launch BOX, including:

• Bitget: BOX token pre-deposit to Bitget is now online, gas fee is 0, the event ends on September 14 ;

• HashKey Global: BOX token airdrop is coming soon. Deposit BOX tokens to HashKey Global without paying gas and share the 300,000 BOX tokens prize pool ;

• MEXC: BOX tokens will be listed on MEXC soon. Participate in voting with MX tokens to share BOX airdrops. The total prize pool is $10,000 and 500,000 BOX tokens .

• Gate.io: BOX is listed on Gate.ios Startup. Participants can share 1.25 million BOX tokens for free .
  

Currently, BOX will be launched on four exchanges: Bitget, HashKey Global, MEXC, and Gate.io.

After nearly 3 years of continuous polishing, the DeBox team has gradually improved its products and accumulated a group of loyal users. With its token BOX about to be launched, the performance of the token price may become the key to attracting more attention from Web3 users. Whether DeBox can continue to maintain its product innovation and lead the development of the SocialFi track, we will wait and see.