ChainX User Guide

What is ChainX?

ChainX is a cross-chain project based on Polkadot. It is the official cooperation project of Polkadot. It currently supports BTC cross-chaining, and will support mainstream currencies such as eth, eos, and bnb.

What is PCX and what is the value of PCX?

PCX is the main network token of ChainX, with a total circulation of 21 million. It is completely mined from 0. There is no public offering, no pre-mining, and the total amount halved every two years. The initial amount is 14400PCX/day, 10.5 million issued in the previous two years. 20% of the first two years circulation is owned by the founding team for ongoing development funding.
PCX will be used to pay for the fuel costs of various operations on the main network. It is also the only token for node voting. At present, the PCX stake rate is about 70%. In the future, PCX will become the intermediate token of some cross-chain tokens.

How to mine PCX?

1. Deposit BTC
Detailed Instruction:

2. Map DOT
Detailed Instruction:

3. Buy PCX and stake PCX for vote
Buy PCX from the exchanges such as Cybex or Hotbit, or via OTC groups

Detailed instruction of PCX staking and Node voting:

Mining Power Calculation

a) BTC deposit mining: the mining power is calculated according to 10% of the average moving price per hour of PCX/BTC generated in the token trading system. If the price of PCX in exchanges is 0.001BTC, then the 1BTC mining power is 1/0.001*0.1=100PCX;

b) SDOT mining power: SDOT mining power is constant at 0.1PCX;

c) PCX voting mining power: 1PCX per vote is equivalent to 1PCX mining power.

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