PoxSwap’s PoxLock is a decentralized application (DAPP) where users can lock their $POX tokens and eggs without needing to find a buyer on the open market. Developed by @MutantLabs_ and @metaplex . Here’s how it works:
No Waiting for Buyers: Instead of selling on an open market, you lock your assets directly through the dapp and have the ability swap for 2M $POX tokens at the price of the market when you do the swap.
Escrow Wallet Integration: It uses an Escrow Wallet for facilitating transactions. The term ‘wallet’ can be misleading as its technically a smart contract.
Rewards Wallet: A special wallet collects taxes from transactions (swapping and selling $POX tokens or eggs) within the platform. These fees are then distributed as rewards to participants who lock up their $POX and eggs.
Dynamic Rewards System: The interesting part is an “API in the sky” to gather data, assign points based on user participation, and distribute rewards accordingly. This system dynamically adjusts rewards based on how users engage with the locking mechanism.
If you have questions or comments, please feel free to ask!
submitted by /u/Professional-Agency1
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