The XEN Eco System
Introducing XEN, a brand new blockchain ecosystem that is set to shake up the world of decentralized technology. XEN is built on a revolutionary new blockchain protocol that offers unparalleled speed and security. It is available on many different blockchains already.
At the helm of this exciting project is Jack Levin, a visionary entrepreneur, early Google employee (#21) with a proven track record in the field of blockchain technology. Jack Levin has assembled a team of experts in the field of blockchain development and cryptography to ensure that XEN is at the forefront of innovation following the 1st priciples of crypto.
With XEN, you can experience the full potential of decentralized applications wit all its features in minting, staking, NFT, swaping between blockchains and many more. The ecosystem is designed to be highly scalable and secure, making it the perfect platform for a wide range of use cases, from financial services to gaming, and everything in between.
Join the XEN community today and be a part of the future of decentralized technology. With XEN, you're not just investing in a single project, you're investing in a future where trust and transparency are built into the very fabric of our digital economy.
XEN is a social mining project based on a PoP mechanism. Any crypto user can connect their web3 wallets and mint XEN tokens. The XEN tokenomics is based on the number of users and the minting period. As the number of participants increases, the minting difficulty also increases, and supply reduces.
Let’s start with the problem that XEN seeks to solve. According to the XEN litepaper, popular cryptocurrencies are overbought and lesser-known ones suffer from pre-mining and whale accumulation. This is why XEN has designed its tokenomics such that the token’s value is derived from community participation and use.
And it’s easy to join the community as well. All someone needs to do to mint XEN is connect their Ethereum compatible wallet to the XEN smart contract. So a wallet like MetaMask and ETH to pay gas fees is all someone would need to get started.
There will be a new blockchain for $XEN. The Chain will be called X1 Chain with X1 gas native currency. We will have 1,000,000,000 deflationary supply.
Proposed Tokenomics for X1:
1) 50% of all TX fees will be burned
2) 50% of Supply will be burned over a set period of time
Tokenomics of XEN
So, we mentioned that one of the attributes that sets XEN apart is its unique tokenomics. Let’s dive into what that looks like:
The main thing that we should start off with is the fact that the token is free in that participants don’t need to deposit anything to start minting. Furthermore, XEN starts with zero supply and has no supply cap. Because of its minting formula, the token will become less inflationary overtime as adoption increases.
Like Bitcoin, the $XEN token has no intrinsic value. That is, the community surrounding it and using it as a medium of exchange on the XEN smart contract platform will be what gives it its value.
When a user connects their wallet to the XEN smart contract, they define the amount of time that passes before they actually receive their tokens. The longer the time period, the more tokens they receive. Minters are also assigned a XEN rank (cRank) which is based on the number of people that have interacted with the XEN smart contract before them. What this means is that someone who wants to mint and receive more tokens would be incentivized to tell others about the project and have them link their wallets. These parameters are used with a formula to calculate how much XEN one is to receive.
You can now mint your XEN - NFTs (XENFT)
... more to come
What is the XEN eco system ?
XEN is a decentralized, open-source cryptocurrency and blockchain platform that was created to enable fast, secure, and low-cost transactions on the internet. XEN uses a proof-of-work (PoW) consensus mechanism, which means that transactions are validated by "miners" who compete to solve complex cryptographic puzzles in order to add new blocks to the XEN blockchain.
XEN is a social mining project based on a PoP mechanism. Any crypto user can connect their web3 wallets and mint XEN tokens. The XEN tokenomics is based on the number of users and the minting period. As the number of participants increases, the minting difficulty also increases, and supply reduces
The XEN ecosystem includes a variety of applications and tools that have been built on top of the XEN blockchain. These include:
Wallets: Software programs that allow users to securely store, send, and receive XEN tokens.
Exchanges: Online platforms that allow users to buy and sell XEN tokens and other cryptocurrencies.
DApps: Decentralized applications that run on the XEN blockchain and provide various services, such as online marketplaces, prediction markets, and gaming platforms.
Smart contracts: Self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
Mining: The process of validating XEN transactions and adding them to the blockchain in exchange for a reward.
Overall, the XEN ecosystem is designed to provide a secure, decentralized platform for transactions and other types of online interactions.
How to mint XEN tokens
Until the network reaches 5,000 users, XEN has a Free Mint function, which sets the maximum term of claiming XEN at 100 days. Afterwards, and as more participants join, the tokenomics are designed such that it will get harder to mint tokens, and the maximum wait time will increase accordingly.
There are penalties in place to disincentivize users from waiting to withdraw their tokens after the waiting period is over. This is meant to imbue the minting process with a sense of responsibility.
Proof of participation (PoP)
According to the project’s litepaper, it is neither proof of stake nor proof of work that secures the platform. Rather, XEN functions on proof of participation, which means that participants in the ecosystem have full ownership through self custody.
What can you do with $XEN?
XEN is an ERC-20 token, and as the project’s litepaper states, the crypto is merely meant to be used as a medium of exchange, much like Bitcoin. So you can trade it, stake it, or use it to buy various things like NFTs.
How to acquire $XEN
XEN is available on multiple exchanges like Poloniex! You can acquire XEN through trading a USDT and USDD trading pair: XEN/USDT | XEN/USDD
On which blockchains XEN is available ?
The XEN Universe is pretty big. At this time XEN is available on the following blockchains:
BSC (Binance smart chain)
OKC (OKX Chain)
You can find all updates on the xen.network website.