📖EGAX deflationary mechanism

EGAX is Egochain native governance token that serves as a function of EgoDollar stablecoin ($EGOD). This means that $EGOD is created by bonding EGAX. Bonded $EGAX are 100% burnt and taken out of circulation forever.

In the long run, increased demand for $EGOD will lead to a permanent contraction of the EGAX supply and a stimulated increase in demand for EGAX.

A negative exponential curve was adopted to allow for less units required to be burned perpetually and at the same time moderate scarcity by not draining the supply to 0 too quickly. Over time the curve will flatten out and allow for more less quantity of EGAX to be burnt.