The XauChain NFT Key Agreement outlines the terms and conditions governing the use, acquisition, and responsibilities associated with holding an NFT Key within the XauChain network. These NFT Keys are critical for enabling node operations, accessing exclusive DeFi services, and participating in network governance. The agreement is designed to align with XauChain's economic model, ensuring a fair, transparent, and efficient ecosystem for all participants.
1. Overview of XauChain NFT Key
The XauChain NFT Key is a non-fungible token (NFT) that serves as an access license required for operating nodes and accessing premium DeFi services within the XauChain ecosystem. Each NFT Key grants the holder specific privileges, including transaction validation, staking, liquidity provision, and governance voting rights.
2. Acquisition and Activation
To obtain a XauChain NFT Key:
- Users must purchase the NFT Key using XAUc, the native token of XauChain.
- The cost of each NFT Key is dynamic and adjusted based on network demand and market conditions.
- Once purchased, users must activate their NFT Key by completing the required Know Your Customer (KYC) verification process to comply with regulatory requirements and ensure network security.
3. Node Operation Requirements
- Node Pass Activation: To operate a node within the XauChain network, the holder must link their NFT Key with a Node Pass ID. This ID verifies the node’s legitimacy and allows it to validate transactions.
- Verification Protocol: The Referee Contract, a core governance protocol within XauChain, will verify the ownership and legitimacy of the Node Pass ID. The Referee Contract checks if the node is either the rightful owner of the NFT Key or an authorized delegate.
- Compliance: Nodes must adhere to all operational and regulatory requirements set by XauChain to maintain their rights to participate in the network.
4. Staking and Rewards Program
NFT Key holders can access XauChain’s DeFi services, including staking and liquidity provision:
- Staking Rewards: Participants can stake their XAUc tokens and earn rewards, which are distributed based on their staking amount and duration.
- Real-Time Monitoring: Stakers can track their rewards via the XauChain Dashboard, ensuring transparency and engagement.
- Tiered Reward System: Early adopters receive higher rewards, with staking multipliers applied to encourage long-term commitment.
5. Governance and Voting Rights
Each NFT Key provides governance voting rights, allowing holders to:
- Propose changes and improvements to the XauChain ecosystem.
- Vote on key decisions, such as protocol upgrades, fee structures, and new DeFi product launches.
- Participate in community-led initiatives to shape the platform’s development.
6. Compliance and Termination
- KYC and AML Compliance: All NFT Key holders must complete KYC and Anti-Money Laundering (AML) checks to remain active within the network.
- Breach of Agreement: Any violation of XauChain’s operational rules, such as unauthorized use of the NFT Key or failure to comply with governance decisions, may result in termination or suspension of the NFT Key’s privileges.
- Voluntary Surrender: Key holders who choose to deactivate their node or discontinue participation can surrender their NFT Key. The NFT Key will then be transferred back to the network pool for redistribution.
7. Reward Distribution and Fee Allocation
- Transaction Fees: NFT Key holders earn a share of transaction fees collected from activities such as cross-chain swaps and staking.
- Gas Fee Sharing: A portion of gas fees from network operations is distributed to NFT Key holders, further incentivizing participation.
- XAUC Token Airdrops: Holders are eligible for periodic airdrops of XAUC tokens based on their activity and participation levels.
8. Liability and Indemnification
XauChain disclaims any liability for losses resulting from unauthorized access, misuse, or technical failures affecting the NFT Key or the XauChain network. Users must maintain the security of their private keys and comply with all network requirements to minimize risk.
Conclusion
The XauChain NFT Key Agreement is an essential component of the XauChain ecosystem, providing a clear framework for acquiring, operating, and benefiting from NFT Keys. It ensures that all participants are aligned with the platform’s goals of security, transparency, and growth, while maximizing the benefits for active and engaged users.
By adhering to this agreement, XauChain aims to create a secure, fair, and efficient environment for managing and growing digital gold assets.