Following multiple legal consultations across various jurisdictions, bitfx management is fully confident that Bitfx Coin (BFX) falls under the classification of a utility token and NOT a security. Bitfx Coin acts like a membership coupon that grants access to the bitfx shared liquidity pool when used in the bitfx wallet. Pool participants can contribute Fiat, Crypto, and Bitfx Coin (and eventually other listed assets) to the pool.
The liquidity pool pays these wallet holders out in a variety of currencies such as crypto and fiat. Therefore, if Bitfx Coin are held outside the wallet, or not participating in the liquidity pool, there would be no access to the shared liquidity pool benefits that the wallet holders receive.
Additionally, Bitfx Coin holders may receive other coupon benefits such as preferred access or discounts on future products or new listings. To summarize, Bitfx Coin’s act as:
- Lower cost medium of exchange on bitfx
- Store of value that can be used to purchase goods and services
- membership key in the bitfx wallet to the liquidity pool
- Coupon enabling wallet participants to receive higher levels of benefits
One of the principal benefits for holders of Bitfx Coin (BFX) that participate within the bitfx ecosystem for trading and probably the most ground breaking feature of our platform, is the opportunity they’ll be given to contribute a selected amount of the assets contained within their e-wallets to the shared, P2P liquidity pool.
Half of the profits (or losses) generated will be allocated (or debited) from the liquidity pool with those subsequently allocated pro-rata to the participants and paid out on a daily basis. In other words, 50% of the daily revenues (or losses) bitfx generates will be paid or debited to or from the liquidity pool. Participants will receive their portion of the liquidity pool distribution on a daily basis.