> For the complete documentation index, see [llms.txt](https://nexon-3.gitbook.io/nexon-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nexon-3.gitbook.io/nexon-docs/part-v-economics/05-tokenomics/exon.md).
# EXON — Circulation Engine
EXON is the Circulation Engine of the NEXON narrative and today the Core Value Token: the private sale is the only route, it is sell-only, and it burns on withdrawal.
EXON also has two definitions that align without overlapping.
In the NEXON narrative, EXON is the **Circulation Engine**, connecting digital finance to the exchange, experiences, payment, fees and consumption. In the current mechanism, EXON is the **Core Value Token**: subscribed in the private sale, listed on spot, released daily, bought into the fuel wallet, burned on withdrawal.
## Name and narrative role
`EX` comes from exchange and experience. `ON` is circulation switched on. EXON is **the side of the two-asset model that keeps moving**: value that can be priced, exchanged and used as the ecosystem unfolds.
## The only route: the private sale
**The private sale is the only way to acquire EXON.** Subscription price 0.1 USDT, three tiers of 1,000 / 5,000 / 10,000 USDT with 10,000 / 1,000 / 500 allocations — 11,500 in total, closed once sold out. Each subscription is paired with an XO stake at 3:1: 1,000 USDT subscribed pairs with a 333 USDT stake, the subscription earns the release, the stake earns the settlement, and both income lines start together.
EXON supply is 1 billion; the private sale offers only 200 million, 20% of supply. Listing is at 1.0 USDT, ten times the subscription price; from listing day EXON is released daily for 1,095 days, one payout every 12 hours, each payout sellable on NEX.
## Sell only, never buy
> **The private sale is the only way to acquire EXON. No hot money in and out, no round-tripping — one direction only.**
* The NEX secondary market lists sell orders only, never buy orders, and EXON is not listed on decentralized exchanges — there is no "buy EXON" route anywhere in the market.
* EXON sits in only two places: the accounts of private-sale participants, and the fuel wallets of stakers. Fuel-wallet EXON can only be burned.
* The release schedule is fixed: 200 million released daily over 1,095 days, 182.6k a day, fully predictable.
* Sell fee 2%.
## Three current supply-and-demand mechanisms
{% tabs %}
{% tab title="① Fuel-wallet purchase" %}
28% of every staking deposit buys EXON at 1 USDT each into the fuel wallet. Deposit 1,000 USDT and the fuel wallet holds 280 EXON.
The fuel wallet only ever fills: no transfers out, no trading, burned only when rewards are withdrawn. **Every deposit buys.**
{% endtab %}
{% tab title="② Burn on withdrawal" %}
Withdrawing rewards burns EXON from the fuel wallet according to the settlement speed: immediate settlement burns 30% of the amount withdrawn, 30-day 20%, 60-day 10%. Withdraw 1,000 USDT of rewards immediately and, at 1.0 USDT, 300 EXON burn.
Static rewards, referral rewards and leadership bonuses each burn on every withdrawal, and what is burned leaves circulation for good. **Every withdrawal burns.**
{% endtab %}
{% tab title="③ Burn scenarios" %}
With all rewards withdrawn immediately and EXON at 1.0 USDT: 10 million USDT staked burns 18k – 60k EXON a day; 50 million burns 90k – 300k; 100 million burns 180k – 600k. The early-bird release is 182.6k a day.
From 50 million USDT staked, a year's burn exceeds a year's release; at 100 million, a single day burns up to 600k — 3.3× the daily release.
{% endtab %}
{% endtabs %}
The more is staked, the more burns every day; at 100M USDT the top of the range is 3.3× the daily release
Buying never stops, burning never stops, the release schedule is fixed, and the float only gets smaller — this is the engine behind EXON.
## Utility opening with each entry point (Roadmap)
EXON is the circulation and settlement token of AI-native PayFi. Running today: staking fuel, burn on withdrawal, NEX spot and PayFi settlement. Connecting as the Wallet, the Marketplace, the decentralized Social App and the Stablecoin Card go live: trading, payment, exchange and fees (Roadmap). As each connects, that entry point's terms state the price source, where any fee goes, custody and refunds, supported jurisdictions and the responsible executor.
## EXON in three sentences
1. **Narrative**: EXON is NEXON's Circulation Engine.
2. **Current mechanism**: EXON is the Core Value Token — private sale at 0.1 USDT as the only route, listing at 1.0 USDT, sell only, bought into the fuel wallet, burned on withdrawal.
3. **Opening with each entry point**: trading, payment, exchange and fees, connected as the five entry points go live (Roadmap).
*Previous:* [*XO — Value Anchor*](/nexon-docs/part-v-economics/05-tokenomics/xo.md) *· Next:* [*Distribution & Release*](/nexon-docs/part-v-economics/05-tokenomics/distribution.md)
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