QBX Newly Optimized Token Economy

As you well know, new utilities have been incorporated into our token and it currently allows brands to generate loyalty tokens, trigger transactions and use them as rewards. Consumers can exchange QBX in loyalty tokens, swap QBX for limited NFTs, and use QBX to access rewards. Furthermore, our token utilities will expand by enabling consumers to access unique rewards and strategic partners to run ecosystem nodes, verify transactions, and make decisions regarding the governance of the ecosystem. We have been working to ensure our ecosystem abides by the rules of decentralized loyalty and here is how our QBX token epitomizes this spirit. 

QBX Tokenomics

Our QBX is a utility token with a total supply of 1,380,392,156. 90% of the total supply are currently ERC20 tokens stored on the public Ethereum blockchain and 10% are BEP2 tokens on the Binance chain.  To ensure transparency and security for our users, we carried out smart contract audits over three of our contracts: MigrationAgent, qiibeePresale and qiibeeToken. Smart contract audits ascertain the reliability of the codes as external auditors analyze the smart contract for vulnerability.

Key Drivers of Demand

The demand for the QBX token increases along with the utility and value the token can provide. The QBX token demand is driven by:

1. The creation of loyalty tokens.
2. Earn, spend and exchange transactions being triggered by users creating loyalty tokens.
3. Staking QBX token in the QBX VIP Club.

a. The QBX token can also be used to acquire invites from other members of the QBX VIP Club.

4.   Staking QBX token as an ecosystem node.

As more utilities are incorporated into the token, users will be able to access more rewards and this, in turn, will make the ecosystem more robust and users keener to hold and utilize QBX over a longer period of time.

Key Drivers of Supply 

The supply of the QBX token is driven by various factors, including:

1.  Staking rewards from ecosystem nodes.
2.  Staking rewards from QBX VIP Club members

We plan to incorporate more functionalities in our staking mechanism to enable users to earn rewards and get the best out of our VIP Club. 

It is also important to note that a portion of the QBX supply has been lost due to misplaced seed phrases and failed transfers. Unfortunately, the qiibee foundation isn’t in control of these errors and can’t recover these tokens due to the decentralized nature of the blockchain.

The QBX ecosystem is growing and so is the token. Stay tuned for the new blog post for more details.

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