The information about CargoX Token (CXO) token is:

CargoX Token (CXO) is an ERC-20 token initially launched on the Ethereum blockchain, designed to power the CargoX Platform for Blockchain Document Transfer (BDT), a decentralized solution for secure, fast, and cost-effective transfer of trade documents like bills of lading.

The token was created by CargoX Ltd., a Slovenia-based company founded by Stefan Kukman, with its Token Generation Event occurring in January 2018, raising $7 million during an Initial Coin Offering (ICO) where a fixed supply of 215,119,016 CXO tokens was minted.

CXO serves as a utility token within the CargoX ecosystem, originally used to facilitate document transfers via smart contracts on Ethereum, with each transaction burning a portion of CXO tokens to register document hashes on the blockchain, enhancing scarcity over time.

The platform later integrated with the Polygon blockchain, a Layer-2 scaling solution for Ethereum, to improve transaction speed and reduce costs, with CXO bridged to Polygon under the contract address 0xf2ae0038696774d65e67892c9d301c5f2cbbda58, maintaining its Ethereum roots while leveraging Polygon’s scalability.

On Polygon, CXO supports the same document transfer functionalities, using ERC-721 NFTs to tokenize document hashes, stored securely on the InterPlanetary File System (IPFS) with military-grade encryption, ensuring confidentiality and tamper-proof audit trails.

The token’s utility includes incentivizing relayers—nodes that publish documents on behalf of clients, earning CXO rewards (e.g., $0.30 per document)—and supporting integrations like the Egyptian Customs Authority’s mandatory Advance Cargo Information (ACI) declarations, implemented via Polygon since July 1, 2021.

CargoX’s ecosystem, built on Ethereum and powered by Polygon, extends beyond logistics to industries like finance and manufacturing, with partnerships such as Timber Exchange and Misr Technology Services (MTS) for Egypt’s Nafeza platform, broadening CXO’s real-world applications.

Governance of the token remains centralized with CargoX management, who can adjust burn rates, though posts on X suggest a community desire for more collaboration, with no formal DAO structure currently in place for CXO holders to influence protocol decisions.

The token is tradable on decentralized exchanges like Uniswap V3 (Ethereum and Polygon versions) and centralized platforms like KuCoin, with its dual-chain presence reflecting a strategic pivot to Polygon for operational efficiency while retaining Ethereum’s security foundation.