Question 1

What is Dexit Finance (DXT)?

Accepted Answer

Dexit Finance (DXT) is the native cryptocurrency of the deXit.Network, a decentralised finance (DeFi) platform. It operates on a proof-of-stake (PoS) blockchain and is designed to facilitate cross-chain transactions, yield farming, staking, lending, and market making without relying on traditional financial intermediaries. The DXT token is currently issued on the Binance Smart Chain (BSC) as a BEP-20 token and will eventually transition to power the deXit.Network’s native blockchain. The platform aims to combine inflationary and deflationary mechanisms to balance supply and demand, providing both scarcity and lucrative returns.

Question 2

What is Dexit Finance (DXT) used for?

Accepted Answer

Dexit Finance (DXT) is utilised for several purposes within the deXit.Network ecosystem:

* **Governance:** DXT holders can participate in the governance of the network, voting on proposals and changes.
* **Transaction Fees:** DXT is used to pay for gas fees on the deXit.Network.
* **Staking and Validation:** Users can stake DXT to become validators and earn rewards from block rewards and transaction fees.
* **Yield Farming and Lending:** The platform supports yield farming and lending activities, allowing users to earn competitive yields.
* **Market Making and Taking:** DXT is used in the platform’s decentralised exchange (deX) for market making and taking, with participants earning residual income from transaction fees.
* **Incentives and Rewards:** The network includes mechanisms for redistributing a portion of transaction fees to holders, development, and liquidity pools, as well as burning tokens to reduce supply.