CandyDex, a unique decentralized cryptocurrency exchange platform that supports multiple networks is allowing users to share in the decision-making processes of its ecosystem through its governance token CANDYDEX.
The CANDYDEX token serves as a decentralized tool for the CandyDex ecosystem. The token allows holders to become part of the governance council. This allows the holders to become key architects behind the decision-making process and the path taken by the whole ecosystem.
By design, the token has numerous use cases that allow it to give power back to the community while offering unique benefits to its holders. Holders can stake their CANDYDEX assets to participate in token launches of projects that are building on the MATIC chain. Holders get the opportunities to earn rewards for serving as liquidity providers. The token holder can also earn a percentage of fees accrued to the treasury for holding $CANDYDEX and from participation incentives.
The CandyDex explained:
“In today’s market, it is very important to fully satisfy the needs of your customers. Convenience and simplicity were some of our main considerations when we planned the project. Holders don’t have to do anything except to buy their tokens and hold to be rewarded every hour.”
The token had a total supply of 500,000,000 tokens. The platform has burned over 80,000,000 (16% of the CandyDex total supply) as an initial move bringing the current supply to 420,000,000. CANDYDEX is deployed on the POLYGON smart Chain. Unlike other decentralized exchanges, CANDYDEX tokens allow holders to buy BNB, ETH, MATIC, FTM, AVAX, and USDT (Tron) based crypto coins through its swap feature.
Since its launch, the project has gained a massive following globally reaching over 50k members on Telegram. Notably, the project saw over 60,000 account holders in 8 days.
In addition to the governance token, Candydex is providing users with a fair, confidential open, and secure platform. The platform wants to build the world’s best DEX platform with multi networks support. Candydex seeks to become one of the first movers on multiple networks. The project’s vision is to create a micro-ecosystem that will help induct the world into the development and get covered against smart contract failure and exchange hacks.
CandyDex offers a diverse ecosystem that offers financial services, swaps, and an exchange. Currently, CandyDex is holding its initial Dex Offering which began on April 25, 2022. The platform will hold two more rounds consecutively after round 1.