EVX is the Everex platform token which is a key component of the Everex system and serves as an enabler for system services. EVX serves 3 main objectives:
- It is the internal Everex service fee currency.
- The EVX token is the fuel of an internal reward system of the Everex micro-lending ecosystem.
- It connects and enables the conversion between fiat currencies and selected cryptocurrencies via the Everex wallet service.
Everex has created an internal reward system that lets users use EVX tokens to improve user-credit scores. The more EVX tokens a user has, the better the offered load conditions are available for the user since they own a larger stake in the Everex system. Users can earn or buy additional EVX tokens, therefore enhancing their creditworthiness.
Another feature of the EVX tokens is that it connects fiat and cryptocurrencies using the Everex wallet. Users who maintain an EVX balance in their Everex wallets are able to convert cryptocurrencies, e.g. Bitcoin or Ether on exchanges where EVX is listed into EVX tokens. Subsequently, the tokens can be then transferred to the user’s Everex wallets and cashed out into a fiat currency. The same process works vice-versa. In conclusion, EVX can be converted into any other cryptocurrency.
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