The Etherex exchange based on Ethereum will launch the REX token on August 6.

On August 4th, Etherex, a decentralized exchange co-founded by Linea, Consensys, and Nile, will launch the native token REX on August 6th. Etherex is an upgraded version of Nile Exchange, built on Ramses v3 technology and utilizing a x33 token economic model. The design goals of Etherex include the distribution of 100% of the native reward (REX) to liquidity providers (LP); and 100% of transaction fees to xREX voters. The native REX token will be distributed to LPs as liquidity rewards. Users can convert REX into xREX to vote for rewards in their preferred funding pool.

Distribution plan for Etherex release: 25% allocated to Linea/Consensys (, 80% of which is xREX token and 20% is liquidity token REX), 25% allocated to veNILE immigrants (, 100% is xREX token ), 15% used to support treasury for liquidity group (LP), 5% used for CEX listings and market makers, 5% allocated to ecosystem investment partners of Linea and 25% retained in Etherex treasury.