Phoenix Blockchain (PHX) operates as a hyper-deflationary protocol designed to enhance the ecosystem built upon Inferno. It acts as a staking powerhouse across three significant Titanx initiatives: Blaze, Flux, and Titanx itself. The rewards generated from these projects are strategically allocated to sustain the stakes and fuel a unique buy-and-burn mechanism. This process involves purchasing Phoenix tokens from the market, with an initial routing through Inferno. Once acquired, the Phoenix tokens are divided equally: 50% is burned while the remaining 50% contributes to an auction balance, from which 1% is auctioned daily for Titanx. The Titanx obtained is then reinvested back into the Phoenix system.
The Staking Trinity feature allows Phoenix to hold partial stakes in three distinct protocols, where rewards are cleverly managed to bolster both the stakes and the buy-and-burn initiative.
- For the Titanx stake, 20% of all Titanx entering Phoenix during the mint phase will be maximally staked.
- The Flux stake will allocate 28% of all Titanx entering Phoenix, which will first convert to Inferno before being staked in Flux.
- Lastly, 9% of Titanx will be used to purchase Inferno before being staked in Blaze.
In a unique approach, during the initial 110 days, all rewards generated will be reinvested to enhance the staking positions.
Daily auctions play a crucial role in the Phoenix ecosystem. Whenever a user activates the Phoenix buy smart contract, Titanx will first procure Inferno before acquiring Phoenix. The resulting Phoenix tokens are again split evenly: 50% will be burned, while the other 50% is added to the auction balance. Following the mint phase, continuous auctions will take place, with 1% of this balance auctioned off daily in exchange for Titanx. The Titanx received will not only be cycled back into the Phoenix buy smart contract but will also serve to strengthen the three staking initiatives.
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