The ZTX Token is an Ethereum-based (ERC20) payment token designed for use within the Zulu Republic ecosystem, as well as independently by blockchain-savvy users who wish to transact or trade in ZTX on third party platforms or exchanges.
ZTX will be used on the Zulu Pay platform to incentivize merchant and consumer adoption with a 5% token rewards bonus on all eligible in-network transactions. It will also be used in conjunction with the Zulu Republic Passport to pay for deployment and execution of digital identity claims and verifications.
ZTX distribution is regulated by the Zulu Republic Smart Reserve, which will hold and release 800 million ZTX tokens that will remain after releasing the initial distribution of 200 million tokens. The reserve is maintained by the Zulu Republic Foundation.
The reserve serves multiple functions:
- To distribute the 5% token-back bonus to users when making purchases at verified merchants.
- To release 1% of remaining ZTX each year to the Zulu Republic Foundation for use in future initiatives.