Covalent X Token
CXT
Average
4.57K
8.01K
6.24K
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53
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21
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Covalent X Token Timeline
Covalent X Token Token allocation
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Covalent X Token Info
Covalent X Token Team
Covalent X Token Intro
CXT is the native token of the Covalent Network and plays a fundamental role in powering its decentralized long-term data availability infrastructure. Rather than functioning as a direct payment token, CXT serves as a settlement token within the network’s ecosystem, enabling a trustless reward system for node operators who contribute to the network’s data services.
When a user makes an API request to access historical or real-time blockchain data via the GoldRush API, the transaction will be settled in a USD-denominated stablecoin like USDC. The protocol then uses that stablecoin to perform a market buy of CXT, which is subsequently distributed to the nodes that fulfill the request. This creates a direct link between data usage and token demand, aligning incentives across all participants.
Through this mechanism, CXT not only facilitates value exchange but also reinforces the integrity and sustainability of the Covalent Network. As data needs grow with the rise of rollups, modular chains, and AI verifiability, CXT underpins a robust economic layer that rewards honest behavior and ensures long-term access to verifiable blockchain data.
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Q&A about Covalent X Token Tokenomics
Explore the tokenomics of Covalent X Token(CXT) and review the project details below.
What is the allocation for Covalent X Token(CXT)?
Covalent’s initial distribution of 1,000,000,000 tokens was designed to incentivize both the supply and demand sides of the network gradually over several years. The associated lockup and vesting schedules were implemented to reflect a commitment to shepherding the network toward long-term sustainability.
- Seed: 10%
- Private Sale: 20.4%
- Private Sale 2: 2.9%
- Public Sale: 3.4%
- Team: 14.4%
- Advisors: 2.0%
- Reserve: 18.9%
- Staking: 8.0%
- Ecosystem: 20.0%
What is the supply schedule for Covalent X Token(CXT)?
- Seed: 25% released at month 6, then 25% at month 12, 15, and 18
- Private Sale: 25% at TGE, then 25% at months 3, 6, and 9
- Private Sale 2: 25% released at a time, with intervals between 3 to 6 months
- Public Sale:Tier 1: no vestingTier 2: 12-month vest with 1-month cliffTier 3: 24-month vest with 1-month cliffVIP Tier: 25% every 6 months with 6-month cliff
- Team: 48-month vesting with 12-month cliff; 25% unlocks at cliff, then linear
- Advisors: Vesting between month 13 and 24
- Reserve: 11.04% at TGE, 5.93% at months 3, 6, 9, and then every 3 months until month 45
- Staking: 48-month linear vesting after 6-month cliff (total 53 months)
- Ecosystem: 48-month linear vesting starting from TGE
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