> For the complete documentation index, see [llms.txt](https://mantix.gitbook.io/mantix-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://mantix.gitbook.io/mantix-docs/mntx-token/initial-utility.md).

# Initial Utility

The token can be redeemed by buyers to receive a discount on Mantix services. Upon redemption, the tokens will be burned. Buyers can redeem up to 100K tokens per transaction to get 1% off the purchase price as a discount.  The buyer can redeem less than 100K tokens for a proportional discount (50K tokens for 0.5%, 25K for 0.25% etc).

**While the price of the token on the market is based on the spot price at a CEX or DEX, the redemption value of each token is based on the purchase price of the asset or services when using the Mantix platform.**

For a 1M USD purchase, buyer will receive a 10K USD discount (1% of 1M) by redeeming 100K tokens. $MNTX redemption value in this transaction is $0.10 USD per token.

For a 10M USD purchase, buyer will receive a $100K USD discount (1% of 10M) by redeeming 100K tokens. $MNTX redemption value in this transaction is $1.00 USD per token.

 

**Mantix customers can purchase $MNTX from a CEX or DEX then redeem the tokens, by sending them to Mantix, for a discount on the Mantix platform.**

Let’s say a buyer wishes to purchase a 4M USD property. They go to a DEX and purchase 100K $MNTX tokens that are currently priced at $0.08 per token (a total of $8,000 for the 100K tokens). The buyer then redeems the 100K tokens for their 4M USD real estate purchase and receives a discount of $40,000. The buyer spends $8K to save $40K and the tokens are burned by Mantix upon completion of the transaction.