VMPX will serve as a bridge liquidity token, connecting the Bitcoin and Ethereum/X1 blockchains. It exists as a BRC-20 token on the Bitcoin side and as an ERC-20 token on the Ethereum side, both having a total supply of 108,624,000 tokens.
Holders of VMPX tokens can earn yield by providing liquidity between the chains through staking into the bridge liquidity pool. Additionally, VMPX token holders have the flexibility to exchange either type of token for the other at a 1:1 ratio (BRC-20 to ERC-20 and vice versa).
The ultimate objective of the VMPX token is to facilitate seamless swaps between BRC-20 and ERC-20 tokens across the Bitcoin-Ethereum bridge. Furthermore, VMPX token holders can convert their tokens to XN native coins on the X1 blockchain using a smart contract.
By enabling efficient cross-chain liquidity provision and token swaps, VMPX plays a crucial role in fostering interoperability and expanding the possibilities for users in the Bitcoin, Ethereum, and X1 blockchain ecosystems.