# TOKENOMICS

## General

The official token identifier on the MultiversX blockchain is: **JEX-9040ca**&#x20;

Token details are available on the official explorer:&#x20;

* [https://explorer.multiversx.com/tokens/JEX-9040ca](https://explorer.multiversx.com/tokens/JEX-9040ca)

<figure><img src="https://2440588757-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F9jTHFk40DleMsZ7ivRwR%2Fuploads%2Fm1GA594Luxeb4IH844Uu%2Fimage.png?alt=media&#x26;token=84ecd3eb-eb5a-4cea-a089-91c05c80d37a" alt=""><figcaption><p>Token properties</p></figcaption></figure>

Initially, there were 1,000,000,000 tokens. However, it should be noted that several "burn" operations were carried out, allowing nearly 75% of the initial supply to be burned.

## Supply reduction

In addition to exceptional burn operations, mechanisms allow you to regularly burn $JEX:&#x20;

* Purchase of $JEX at market price with exchange fees intended for treasury (30% of fees generated)&#x20;
* Voluntary burn of $JEX by users on the Burnify platform

## Token utilities

$JEX token has several uses within the ecosystem:&#x20;

* <mark style="color:orange;">**50% of platform fees are donated to beneficiaries of the "**</mark>[<mark style="color:orange;">**Earn**</mark>](earn)<mark style="color:orange;">**" program**</mark>&#x20;
* Creation of proposals via the governance module&#x20;
* Voting for protocol improvement proposals&#x20;
* Purchase/Sale of NFTs on certain marketplaces&#x20;
* Participation in raffle
