What Is Paradox NFT?
The Paradox NFT token (PXBSC) is a deflationary token initially launched on August 16th, 2021, on the Binance Smart Chain with the expressed goal of revolutionizing the NFT world by providing an exchange that will support multiple forms of media and provide support for artists of all kinds. We launched the token with an initial supply of 500 billion tokens with a starting price of .0000002. The Paradox NFT Token will be the primary token supporting the Paradox NFT Marketplace, a revolutionary exchange that will rival successful projects like OpenSea and Rarible. Furthermore, the NFT crypto space is already starting to see unprecedented growth in the cryptocurrency market, making this the perfect opportunity for Paradox to provide new content and solutions within the space.
Since the Paradox NFT Token is meant to function as a currency on the Paradox NFT Marketplace, there is a modest tax of 2% on every buy, sell or transfer. This provides the deflationary properties of the token. In addition, 1% goes to the Developer/Marketing/Donation wallet. Finally, .5% goes to help support the UNRUGGABLE liquidity pool (more on this shortly), and .5% gets redistributed to holders.
The initial decentralized launch was performed by PadSwap, an innovative decentralized exchange that will thoroughly shake up the crypto industry as it grows. Because of its partnership with PadSwap, the Paradox NFT Token has some unique features that help make it SAFU for all investors:
So What Is Paradox NFT & Why’s It So Special?
The Paradox NFT Token is un-ruggable. Yes, you read that right, UNRUGGABLE. The Paradox developers Leo and Tank donated the initial liquidity (a $289,000 combination of PXBSC and BNB) to the Decentralized Perpetual Liquidity Protocol (DPLP). Unfortunately, this initial donation is locked away forever and never able to be retrieved by the developer team.
The donation forms a farm that functions as the liquidity pool for the token. Community members will be able to farm this liquidity, ensuring that it is decentralized. The DPLP farm has a 10% in and out fee. 7.5% goes back to the liquidity pool, and 2.5% goes to the vault. This ensures that there will always be liquidity to farm, which gives rewards to investors and helps incentivize more prolonged-term holding.
Thru PadSwap, the Paradox NFT Token also features Liquidity Provider Farms, which will allow investors to pair and stake Paradox with BNB and receive BNB rewards. There is currently no minimum amount of time required for staking.
Redistribution to holders and liquidity pool via 2% tax helps re-assure investors that their funds are SAFU.
The Paradox NFT Marketplace
The Paradox NFT Marketplace functions on carbon-free, cloud-based servers. It will be a multi-chain, innovative exchange that will provide a one-stop shop for creators, artists, and collectors to buy, sell and mint NFTs all in one centralized location while earning rewards and keeping fees to a minimum. The Paradox NFT Marketplace will be an over-arching eco-system that will not be limited to just traditional artwork and would allow for multiple forms of NFT projects/media to include:
- Art Marketplace
- Lending Platform
- Fantasy Sports
- Real Estate
- Infrastructure Development
- Content Subscriptions
- Cross-chain NFT development
We will discuss these more in detail in a later article, but this list helps demonstrate the forward-thinking vision and planning that this developer team brings to the table.
The Paradox NFT Marketplace was in development before the token launch, and a beta version is expected soon.
Live NFT Shows
But wait, there’s more; In addition to all the above features, Paradox has partnered with Enigma Projects. Enigma Projects will be building a curated collection of Digital Art and Collectibles from World Class creators across the globe. Enigma will host exclusive, live events to showcase rare NFT Collections and their creators. These events will also allow for exclusive in-person minting of rare NFT collections. Enigma Projects’ first event is being held in Denver, Co on 9/6/2021 and will feature DJ Chris Haven and a live music performance from Rich Vagner.
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Thank you for joining us for the NFT Revolution!
Originally Posted on Medium: What Is Paradox NFT?