> For the complete documentation index, see [llms.txt](https://nexion-1.gitbook.io/nexion/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nexion-1.gitbook.io/nexion/readme.md).
# What is NEXION
**NEXION — Built on PulseChain, powered by NEON**
NEXION aims to become a widely used dApp ecosystem that offers users a variety of ways to participate and earn rewards!
NEONs supply is capped at 1 Billion tokens and utilizes an auction-based token distribution structure which helps drives deflation and scarcity of the NEON token.\
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90% of the NEON supply gets distributed to users who enter in the NEXION Auction within the first 10 days. Features of the auction create daily deflationary measures as well as build store of value pools designed to reward users for participating and helping build the NEXION platform.
## Powered by $NEON
#### NEON has a **6% transaction tax** that is applied to all transactions *with exception to LP Additions and HoloVault deposits.*
💧 **2.5% Stored NEON**: Accumulated until a threshold is met, then swapped for **PLS** and directed to **LP staking rewards**, creating additional incentives for liquidity providers. Threshold is 1 million PLS
💧 **2.5% Direct NEON Rewards**: Sent straight to **LP staking rewards**, ensuring consistent incentives for liquidity providers.
🔥 **1% Burned NEON**: Permanently removed from circulation, accelerating the token’s **hyper-deflationary mechanism**.
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These tax mechanisms reinforce NEON’s deflationary design while driving liquidity growth and rewarding ecosystem participants.
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