StrikeX Announces Strategic Multichain Expansion for STRX Token

FAQs

Welcome to our FAQs section. Here, we will provide answers to some of the most common questions regarding our new multi-chain strategy and its benefits for the StrikeX ecosystem. Our goal is to provide clear and concise information to help you understand the exciting journey the STRX token is about to embark on.

What are some of the benefits of going multi-chain?

1. Expanding On-Chain to multiple networks — Access to new audiences boosts visibility, adoption, and user base growth for StrikeX
2. Growing Liquidity Across Multiple Chains — New pools mean potentially higher organic volume, allowing us to grow our token’s liquidity over multiple chains.
3. Commitment to Decentralisation — Fewer dependencies on Centralised exchanges, opting to focus on an on-chain future.
4. Preparation for easier onboarding to our own App-Chain — Having pools on multiple chains helps broaden future access for bridging to our own Network.
5. Increased Engagement for StrikeX Products — Reaching new ecosystems helps to nurture a more active user base, increasing product engagement.
6. Accessibility through lower fees and fast speeds — Opening pools on chains with potentially lower transaction fees and faster speeds (Like Solana) makes the project more accessible, attracting cost-conscious users.
7. Attracting DeFi purists — Opening pools on chains with higher levels of decentralisation (like Ethereum) makes the project more accessible to DeFi purists.
8. Flexibility to Harness Chain-Specific Features — Different chains come with unique features that can enhance product offerings.
9. Broader Community Reach and Brand Visibility — Tapping into various blockchain communities builds a stronger, more diversified user base.
   When will the first launch take place?
   We plan to go live with STRX on Ethereum before year-end.

What will the launch price and market cap of STRX be on ETH?

We will launch at the same price and market cap of the token on BSC.

Will there be a bridge between these pools?

No, we are not opening bridges between networks, allowing users to bridge their STRX between BNB Chain and Ethereum holds little benefit at this time. The driver for opening a new pool is to allow users of that specific chain to access the STRX token.

How much liquidity will be moved to the ETH pool?

Initially, we will move $100K from our BNB Chain pool to seed the ETH pool. We can increase or decrease this over time based on volume analysis.

Will the 3% Sell Tax be in place on ETH?

Yes, the sell tax will be implemented on ETH, this will help grow the liquidity over time as well as fund the buyback and burn mechanism.

Will you mint more tokens on ETH?

New tokens will need to be minted on ETH to seed the liquidity pool as well as to be held in reserve for future use (i.e. adding more liquidity)

So, what does that mean for the supply over both chains?

• Supply will reduce on the BNB Chain when the liquidity tokens to be moved to Ethereum are split, the BNB from the LP tokens will be converted to ETH for the new pool, and the corresponding STRX will be burned.
• Buyback and burns will continue on BNB Chain, and begin on ETH, as well as any other future chain we launch pools on. Increasing organic volume across multiple networks will accelerate the buyback and burn rate.

Will newly minted tokens on ETH affect the value of the coins I hold on BNB Chain?

No, there is no direct correlation between the two. The supply on Binance Smart Chain continues to be deflationary and will only ever decrease.

Exactly how many new tokens will be minted on the ETH side and future chains?

We have not finalised the exact total supply we aim to have over all future networks, however, we can categorically confirm that the total supply of STRX over current and all future chains will NEVER exceed our original 1 Billion supply and will continue to be bought back and burnt on all chains until further notice.

Will the STRX token on new networks have a minting mechanism?

No, whilst other tokens utilise mint and burn mechanisms to maintain supply over multiple chains, we have decided to have a set supply which can only ever decrease.

Will the price of the STRX token remain the same on all chains?

Yes, we will be utilising our market makers to ensure price parity over all networks.

I hold STRX on BSC, do I need to do anything?

No.

Why are you making this change now?

With growing volume and interest on other networks, as well as the challenges posed by some centralised exchanges, we feel our multi-chain strategy will help in our vision to expand our presence as well as cement our commitment to an on-chain future.

Does this strategy delay the existing roadmap?

No, taking the STRX token multichain does not affect our ecosystem’s development and rollout.

Is this announcement the ‘Business update’ people have been waiting to be announced?

No, the highly anticipated business update is separate and will be communicated when appropriate.

We hope these FAQs have provided clarity on our multi-chain strategy and its benefits. Our commitment to decentralisation and on-chain growth is designed to create a broader-reaching and vibrant ecosystem for all our users. Thank you for being part of the StrikeX community as we continue to innovate and expand. If you have any further questions, please do not hesitate to reach out to us.