⚒️Token Utility
pax.world’s native token, the PAXW, is a utility token. It serves a variety of purposes within pax.world and beyond.
Click here to buy PAXW at MEXC
Introduction
The PAXW token is the foundation of all social and economic activities in pax.world. As with other utility tokens, the PAXW token facilitates and synergizes all of the following aspects of the metaverse ecosystem:
Users are rewarded in PAXW for in-world achievements, for creating engaging content, and for helping to build and support the community.
Holding PAXW tokens allows users to participate in voting to determine the general direction of pax.world, allocate content rewards, and decide on the allocation of DAO-owned resources.
- Payment
PAXW will be used to pay for land purchases, in-world services and enhancements and as part of a vibrant metaverse marketplace for both real and virtual goods and services.
Staking is a way for community members to support the project and enhance their experience along the way by gaining access to exclusive rewards or boosting the level of rewards received from their achievements, content or community engagement.
See below for more details on the benefits staking or holding PAXW, how it can be used to reward achievement and engagement, and the possibilities for spending PAXW on purchases to enhance and enrich the experience, from pax.world land all the way down through memberships and event tickets to minor customizations.
Check out the REWARDS section for details of current and future opportunities to earn PAXW or other rewards through various on-world and off-world activities. These reward schemes change regularly so be sure to check back in frequently and follow our socials to stay informed about new opportunities.
SHAPE the world around you
The complex and ever-evolving interplay between the pax.world virtual environment, its users and the PAXW token will allow you to shape the world around you, through staking, holding, achievements, purchases and engagement.
New incentive schemes allowing users to receive rewards in PAXW or in the form of perks and extra functionalities, in return for holding or staking tokens, interacting with each other, exploring and discovering the secrets of pax island, or a combination of the above, will be announced periodically by the pax.world team.
This dynamic approach to incentives will contribute to making pax.world a platform which is somewhat gamified but not easily gamed. Honest, earnest commitment to community values, gainful collaboration and genuinely engaging content will always be the route to reward and fulfilment. This do-to-earn-oriented interplay of staking, transacting and participating in various permutations aims to deter exploitation by bots or play-to-earn sweatshops by placing human cooperation at the centre of everything.
To stay up-to-the-minute on the latest reward mechanisms, check out the other pages in this section and stay subscribed to our social media channels. Doing so will enable you to adapt your in-world activity and overall strategy to get the most out of pax.world.
Staking
Staking, the act of locking up tokens for a period of time, is a way for token holders to support the project and enhance the rewards and experiences available to them. Staking has no fixed return in pax.world. Users’ commitment to the project is recognized through specific non-monetary rewards, participation opportunities and the boosting of rewards earned for certain activities.
Democracy
In the early days of pax.world, voting for change will be simple, manual, small-scale and stewarded by the pax.world team on behalf of the future DAO. In due course, it should become largely automated, relatively transparent and, above all, decentralized. Staking is expected to play a key role in constitutional processes and may be a prerequisite for certain types of vote.
As a precursor to a more intricate system, the pax.world team plans to offer a series of opportunities for those willing to stake their tokens to submit proposals for features, schemes, structures or functionalities, which will then be voted on by the wider community.
Special reward items
On occasion, the incentive for staking will be as simple as the conferring of a specific item, access or status in return for staking a specified amount for a specified time period.
Later this year, pax.world will offer a few such opportunities where staking will yield enhancement packs or “goody bags” containing NFTs, customizations, objects and/or discounts for those who lock their token up for the requisite period.
Access to rewards or to enhanced rewards
The pax.world community will grow in part due through users recommending the platform to their personal network. The bigger the community, the better the pax.world experience will be. Those who stake will have greater access to reward schemes where they can receive PAXW in return for bringing their friends in to share in the magic.
Staking will also be one way of boosting the PAXW rewards landowners can earn for creating engaging content that really connects with the community.
Holding
There are almost as many reasons to hold PAXW token as there are PAXW tokens (well, not quite – there are 1 billion tokens and only about 900 million reasons).
It stands to reason that you have to be in it to win it – you can’t stake token or use it to purchase goods and services if you never had it to begin with. The PAXW token is more than currency, though. Being part of the community of PAXW holders brings other benefits.
Democracy
The PAXW token is the basic guarantor of your franchise as a citizen of pax.world. The starting point is a series of consultations on various subjects as well as community voting on the allocation of PAXW rewards for content creation, and the end of the long road is full decentralization of decision-making through a DAO. Staking and land ownership will be factors in the determination of voting coefficients, and some polling (such as early content awards) may include non-PAXW-holders through social media campaigns, but the PAXW token will remain the basic unit of democratic voice in pax.world.
Access
Reward schemes for spreading the word about pax.world will take many forms, but an early version is planned in which PAXW holders can sign up to obtain a unique affiliate link and earn more PAXW by inviting others to find out about the history and future of pax.world and get ready for the public launch of the world.
Token holders may also receive access or early access to events and environments, including events surrounding the launch of pax.world.
Privileged payment terms
As well as being able to pay for various in-world items, goods and services in PAXW (in some instances, potentially exclusively in PAXW), users can purchase pax.world land tiles at a discount when paying with PAXW as compared with making the purchase with another cryptocurrency or fiat currency.
Achievements, purchases & engagement
PAXW is the most convenient way to purchase items, access, experience, land and services in pax.world.
As the primary, native token in pax.world, paying in PAXW gives access to discounts.
Achievements attained through exploration, mystery solving or performing certain actions and interactions within the world can be supplemented by purchasing items or functionalities that would otherwise be unlocked through achievements, or by purchasing adjacent items or capabilities that make it easier to get started on achievements.
Some such achievements yield rewards in PAXW token, others in NFTs, but often the purpose of the achievement is to unlock some sort of functionality in pax.world.
Engagement means not only participating in in-world activities and interacting with other users to contribute to the overall buzz of activity and sense of community, but also creating and contributing content that other users enjoy.
Some forms of “engagement” overlap with “achievements”. Much like achievements, the rewards are many and varied, and the experience can be enhanced through purchases such as tickets to events or access passes to experiences and places.
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