As a utility token, the IdeaFeX token (IFX henceforth) will have four main functions and one additional feature. Together, these features incentivize active engagement of the entire community and underpin the value of IFX through usage.
Discount
In its first function, IFX offers users discounts on fees when it is used for these fees. Specifically, both fundraisers and investors can choose to pay their success fees in IFX and receive a discount. Provided that the user holds sufficient amount of IFX, we will deduct from their account the amount that corresponds with the fees after discount, valued at the market price denominated by the currency that denominates the trade. Otherwise, the discount only applies until the entire balance of IFX in the user’s account is exhausted; the remainder of the fees will be covered in the currency that denominates the trade.
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This is the exert of a post originally published by us: https://medium.com/@IdeaFeX/ideafex-deep-dive-13-ideafex-token-functions-a-d4ea67323668