The Experty Token (EXY) is a major constituent of the Experty platform. EXY is created only during the Token Generation Event. EXY is a utility token that will be used for the following:
EXY will be used for all feeless payments from advice seekers to knowledge providers
EXY will be staked by users for access to premium features
EXY will be used by advice seekers as a deposit for advance scheduling with a knowledge provider
All use cases above have 0 additional fees in order to use them. All this comes 100% free for EXY users.
There are additional fees, always paid in EXY, for additional services.
If a knowledge provider accepts other cryptocurrencies like Ethereum or Bitcoin (RSK will make it possible) then the knowledge provider will be obliged to pay monthly subscription fees in EXY
We plan to integrate stable coins in the future to accept FIAT based tokens like USD and EUR. This will make the application easier to use for non crypto-wise people (all FIAT based tokens will be kept on the blockchain like USDT). We plan to work with different FIAT based tokens providers. This service will have additional fees, always paid in EXY