The $xFOX token is the new FarmersOnly governance token. This token combines 3 ideas into 1 token!
By simply holding $xFOX, you will accumulate more $FOX tokens! The protocol uses 1/3 of the DEX fees to buy and deposit FOX to the xFOX vault.
$xFOX started out at a 1:1 ratio to $FOX but will only grow over time!
This is similar to the $xVIPER, $xJEWEL, and $xSUSHI tokens
The $xFOX vault could just collect $FOX similar to other protocols. But instead, it deposits the $FOX into the yield farm to earn additional $FOX for $xFOX holders! This will be the first DEX fee sharing + auto-compounding yield farm token!
We are simplifying our governance process and $xFOX holders will get to participate in order to drive the protocol forward.