dexIRA ($DEX): The first multi-currency token developed for holding

·3-min read
The first multi-currency token developed for holding
The first multi-currency token developed for holding

Why do novice crypto investors so often fall victim to high-risk short-term trading strategies? The answer is clear: The tokenomics of most new cryptocurrencies do not incentivize long-term investment.

Because of this, many investors perceive cryptocurrency as a purely speculative instrument. They sell it at the first opportunity to take profits, which reduces demand and makes it difficult for the currency to grow long term. By following this strategy, traders play against price and miss out on opportunities to maximize profits.

dexIRA: A long-term investment solution

To promote a healthier investment mindset and help holders generate more profits, a team of talented developers has created the dexIRA platform.

The platform is based on the synergy of two concepts: DEX (decentralized exchanges) and IRAs (Individual Retirement Accounts).

In practice, dexIRA offers investors many of the benefits of an individual retirement account but with the advantage of trading in cryptocurrency.

The project borrows from the long-term investment idea behind a traditional IRA. Individuals can grow their $DEX holdings commission-free similar to tax-free IRA contributions. This allows members to increase their stake in the reward pool over time without sacrificing initial capital.

Combining the advanced BEP-20 high-speed blockchain technologies and the traditional IRA model, the dexIRA platform allows users to collect and manage a diverse array of curated cryptocurrency tokens while also holding dexIRA ($DEX).

After a one-year holding period, investors can sell their $DEX holdings tax-free and penalty-free. However, similar to the age restrictions on a traditional IRA, if holders choose to sell early, they’re penalized.

Tokenomics: How dexIRA works?

To implement a long-term investment strategy, dexIRA developers have created a DEX token that’s intended to be held for a period of more than 1 year. This is the first and only multi-currency reward-based token to collect a sales tax but not a purchase tax.

Key Features of $DEX

$DEX holders earn multi-currency rewards – they’re able to pick from a whitelisted selection of curated cryptocurrencies (e.g., BNB, BTC, ETH). These rewards are auto-claimed for added convenience.

$DEX buyers pay no fees or taxes, which promotes long-term investment.

$DEX sellers pay a 30% sell fee, which discourages speculative trading. After one year, the 30% sales tax is waived.

Advanced protocols recognize when a sale is made. The contract then buys a portion of the sold tokens back to relieve sell pressure and burns those tokens.

The strategy is simple: Incentivize new investment by waiving fees when purchasing dexIRA tokens and support long-term growth by providing rewards and penalizing speculative short-term traders.

Investors are protected even when $DEX tokens are sold and the price drops because they are rewarded with ⅔ of all fees collected. Similarly, the dexIRA contract includes enhanced token buyback protocols to spur growth and anti-whale measures to prevent large one-off sell orders.

Why is it Profitable to Invest in dexIRA?

$DEX tokenomics creates a system of checks and balances that organically regulates sales, which ultimately increases demand and provides the foundation for long-term growth.

A win-win scenario where holders win both when tokens are sold and while holding the token!

The project was created to shift the mindset of investors and prove that cryptocurrencies can be stable, value-appreciating assets if the tokenomics support a long-term investment goal

Fee-free withdrawals after one year foster a conservative sentiment among $DEX majority holders and strengthen the price floor.

This article dexIRA ($DEX): The first multi-currency token developed for holding appeared first on BreezyScroll.

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