$PXN token will be used to facilitate transactions within the marketplace, reward users for their participation, and as a denominator in which listing fees are collected. Here are the ways $PXN token can be used:
Simple Fee: At the point of listing creation, sellers will be charged a 6% success fee. 1% of the success fee is used to burn $PXN tokens. For example for every $100 of success fee, $1 will be used to burn $PXN tokens.
The fee for each listing will be denominated in $PXN but the value will be pegged to a fixed cost of 50c USD.
Premium Features: This is fundamentally a form of paid advertising. Sellers pay additional fees, denominated in $PXN but pegged to a constant USD value, to highlight, boost, or feature their products on GM.co to reach more potential buyers.
As adoption of $PXN increases, it can be used as a swift and cost-efficient option for remittances. Transactions made within the PxN Network are almost instantaneous, with little to no gas fees incurred.
The transactions within the PxN Network will serve as a foundation for a budding payment system as GM.co and other products bring natural demand for the token.
$PXN tokens are a tool that allow members to be rewarded and incentivised, such as through tips by offering exclusive content or discounts, and as rewards for acting as affiliates to promote listings on behalf of sellers.