Xerium’s listing of its XERM token on Belfrics Global Exchange targets a million users by 2023.
Crypto loyalty centred blockchain (BC) Xerium is launching its digital product ecosystem. The development follows the successful completion of its initial coin offering (ICO) in 2020. Xerium revealed that its XERM token had gone live on the Belfrics Global Exchange. The latter is a Malaysia based and regulated crypto exchange with a global presence. Each token is going for $1.
The listing ties in with Xerium’s philosophy of helping XERM holders achieve prosperity and comfort using crypto.
Powering Loyalty Programs
XERM is an ERC 20 token that will power loyalty programs for Xerium’s affiliated e-commerce merchants. It’s a multi-functional platform committed to providing its users unparalleled efficiency and benefits across sectors. Besides gaming and healthcare, you may also use them in lending.
Xerium aspires to be the market leader in providing digital loyalty services. It’ll collaborate with companies in incentivizing their customers. Companies will be able to use their digital reward system to customize their promotional services. They may issue tailor-made freebies, coupons and points.
Shopping in XERM also qualifies you for cashback and rebates from supported e-commerce firms when transacting in the token. Again, its online multi-currency wallet affords you a secure and convenient means of storing your funds.
Reforming Digital Lending
The project seeks to address the pain points of centralized market lending alternatives. These are inherently slow and inefficient. Through XERM, Xerium will reform crypto lending by streamlining the process through its next to none online platform.
Further, Xerium will help its users to develop their experience in the crypto space. Allowing XERM holders to engage in P2P lending will help them hone their skills in the sector. So besides earning profits, they’ll have a training ground to perfect their mastery in cryptocurrencies.
Value For Investments
Moreover, the project promises XERM holders value for their investments. They’ll derive this value from the token’s continued usage. As users earn discounts through purchasing goods and services from associated businesses, demand for the token will increase. This rising demand for XERM will shore up its value.
Xerium will serve the marketplaces of the digital asset by marrying gamification and BC technology. As such, the BC becomes an enabler of virtual ownership. The project is also in the process of developing games that will use XERM for in-app purchases. Thus, it’ll help gamers get the best out of games.
The token also comes in handy for healthcare purposes. Players in the sector can use the platform to manage medical databases securely and confidentially.
Regarding its tokenomics, Xerium confirms that it’ll have a lifetime supply of 150 million XERM. For its ICO, which will proceed in three phases, it has allocated 50 million of these. A further 50 million XERM will cater for CXD to Xerium conversion. And the remaining 50 million will be for applications and administration.
It further allocates the funds from the ICO as follows. 25% will go to product development. Research and regulatory requirements will take up 15% and 5% of these, respectively. An additional 10% of these funds are set for operations, while legal and marketing costs will consume 15% and 30% of these funds, respectively.
The project will carry out a year on year coin burn at the rate of 10%. The burning will go on to cover 20% of the initial coins it’ll have minted. The utility coin will have six decimal places and will be useful in paying rewards and redemptions among other cases.
Xerium is a high-performance BC that specializes in the digital reward ecosystem. Its native and utility token is the XERM. The project came into light in November 2020. It has an app that supports both android and iOS operating systems. For more information on the project, please visit their website and Twitter handle.