Payments between verifiers, buyers, and sellers are made with LXR tokens.
LXR rewards the community for tasks such as creating helpful reviews, achieving high verifier reputation, and completing bounties.
Verifiers put down a stake (security deposit) for extra security. Digital Assets are backed by the staked LXR tokens if a dispute arises.
Sellers pay verification fees directly to the verifier in LXR. The fee allows the verifier to create the product’s Digital Asset.
LXR is used to buy, sell, or rent for data from the Data Exchange. LXR is also used to securely transfer ownership rights of data.
LUXCHAIN users earn LXR as a reward for labeling luxury product images. At the same time, users build luxury knowledge and level up to earn more LXR.
Users earn LXR for providing data that contributes to LUXCHAIN’s Business Intelligence. This creates insights that improves the LUXCHAIN economy.
Enterprise solutions access LUXCHAIN’s Business Intelligence using LXR for luxury insights and data.