Key Points from the 'X1 Announcement' stream with Jack Levin, XEN TZU and CryptoKindness.
15 Jun 2023, 00:30
Key Points from the 'X1 Announcement' stream with Jack Levin, XEN TZU and CryptoKindness.
The founding principles of the XEN ecosystem are: fair crypto and first principles of crypto.
The primary objective of the XEN ecosystem remains adoption.
Disclaimer: This is a rough draft. Changes will be made. Speculation based on information in this document is at own risk.
- XEN is peer to peer cash
- X1 is peer to peer infrastructure, where the user is always in self custody.
- X1 will create long term demand and utility for XEN
- X1 will be fully decentralised, fully community owned, which is unique.
XN Distribution Methods:
Option 1 - XEN burn records calculated daily, aggregated and distributed monthly and evenly on burns for the whole month (333M XN).
Option 2 - XEN burn auctions 333 days, 24 hr cycles (333M XN).
Option 3 - One ERC VMPX will be convertable to three X1 XN's (333M XN)
- ETH VMPX minting (smart contract), 108M limited supply, begins 4th July, 25 blocks, approx eight hours.
- ETH VMPX pegged 1:1 to BTC VMPX
- BTC VMPX and ETH VMPX can be staked and earn yield on cross chain swaps (BTC-ETH)
- BTC VMPX first BRC-20 to offer utility (bridge liquidity token, connecting the BTC and ETH/X1 blockchains)
- BTC and ETH merged across X1
- Within XEN burn auctions, ability to pledge XEN for future auctions up to 333 days.