CanaryX is a decentralized reserve currency and is backed by a pool of assets, which can be liquidated through a single transaction. CanaryX token is backed by one CAND, which means it is free to increase over the 1 CAND price. There are two principal policies in the market: Staking and Minting. During this process, market participants can sell their CNYX tokens in exchange for more tokens. Once the ownership period has expired, the tokens are released to the treasury and are distributed to the stakers. Even though the increase in balance is beneficial for stakers, it is still important to consider the potential drop in price.
Minters benefit from price consistency. They are guaranteed a fixed return on their capital, and thus the price of CNYX DAO tokens will depend on how it is sold at the time when they are released. The main benefit of minters is price consistency. They are guaranteed a fixed return on their capital, and the price of CanaryX tokens will fluctuate after they are released. CanaryX is a fork of Olympus, and its team is mostly composed of developers from the Flare and XRP communities.