Contrax December 2023 Update

The Contrax Team
3 min readDec 6, 2023

We are reaching the end of the year, and Contrax has made strides again! This month, the xTRAX token has finally begun distribution. All earning on the Contrax platform has been transferred over on chain, and all Notion tasks have been paid out! Now, we just need to get the DAO going! Be on the lookout for an early January DAO Initial Meeting.

Here is the month’s highlights:

xTRAX is Paid Out on Arbitrum Mainnet!🪙

The DAO token, xTRAX, is now on mainnet and has been paid out to staking wallets! We are also able to pay out Notion tasks as they are completed, so now, token earning is fully live. There was a bit more complexity since we wanted to ensure the token was non-transferable upon receipt, while also building in exceptions as needed, and we are finally here. We worked closely with Capx.fi to get this up, and we are the first project on Arbitrum to have this set-up.

Note: The total supply is set to be 800m, but the initial pool doing payouts of earning and other tasks was set to have 30m, hence the total supply.

Our contract is here: https://arbiscan.io/token/0x42fd79daf2a847b59d487650c68c2d7e52d752f6?a=0x058aa8f6422d88319bea3c249ef4e0e7a457d35d

Contrax is Speaking Up! Our Spaces with Snowball & ANDAO👀

Contrax has had its first Twitter Spaces. We had one with Snowball Network, an Avalanche auto-compounder that worked with us closely in the development of Contrax, and also with Arbitrum News DAO. We had a long conversation with them explaining who we are, what we are doing, and where we want to take Contrax next. Check it out here:

Next Steps for Contrax 🎯

Here is what we are looking to do next:

  • More Partnerships: Contrax is actively seeking to expand our user base, and we are in talks with a few projects for cross promotion and partnerships. If you are part of or know any project that would like to work with Contrax, just contact us on your social media channel of choice.
  • Token Voting Page: The last things needed for Contrax to be a fully functional DAO is a token voting page. This page will integrate Snapshot and allow users to cast votes based on the total xTRAX tokens. We aim to have this page and feature up by the initial DAO meeting
  • Initial DAO Meeting: The Contrax DAO has had “set up” meetings before to get the DAO formed, but now, we will have our first token-based DAO meeting. Our goal is early January. Keep your eye on our socials for an announcement.

Join Our Community 🔗

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Starting earning APY and TRAX tokens on your crypto here.

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The Contrax Team

Contrax provides DeFi scaling tools to new and existing projects. Check it out at www.contrax.finance