# xTao

#### Short Description

xTAO is the governing currency (DAO) for Friction.Finance. xTAO is deflationary by nature, has no mint functionality, and a total fixed supply of 25,000,000. xTAO is unique in many ways, first and foremost, xTAO has automated re-distribution mechanisms that distributes 3% of every transaction to all holders proportionately and automatically after every transaction. **This means that by just holding xTAO you will gain more xTAO in your wallet without having to stake or approve a single transaction.** For those users who want to participate in farms and pools, don't worry, there are still additional incentives for that.

**Do I need to claim these distributed tokens?**

No. The tokens will just show up in your wallet after each transaction.

#### Tokenomics

Total Supply: 25**,000,000 xTAO**

xTAO Per Block: Dynamic emissions, no tokens are ever minted.

Fair Launch: No ICO, no pre-sale, no private investors

Initial Distribution: 6.25m xTAO (25%) was sent to the TAO migrator contract. These tokens are locked in the contract and cannot be removed by developers. 1.25m xTAO (5%) was sent to the BSC burn address to kick start the xTAO automated burn process. 1.75m xTAO (7%) sent to LOCKED ecosystem fund that will be ran by community multi-sig. These funds are locked until June 12th, after June 12th they will be sent to multi-sig. The remaining 15.75m xTAO (63%) was sent to the locked staking contract to reward xTAO liquidity providers via farming.