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Are you fascinated by the world of cryptocurrency but feel overwhelmed by the challenges many projects face, such as pre-minting, whale activities and overbuying? With solutions that address these challenges head-on, XEN Crypto is the brainchild of the Fair Crypto Foundation, and it's earning a reputation as the cryptocurrency for the masses. Boasting low entry barriers and impressive features, this project deserves a closer look. Let's dive in and discover what sets XEN Crypto apart.
Key Takeaways:
XEN Crypto aims to be a fair cryptocurrency accessible to all through its Proof of Participation (PoP) protocol and free minting function.
XEN started as an inflationary token, but has since transitioned to a deflationary model with its burning mechanism incorporated in XENFTs.
XEN Crypto is an EVM-compatible ERC-20 token designed to be a universal cryptocurrency for all users. It embraces the core blockchain tenets, including transparency, self-custody and decentralization. The project runs on the Ethereum network without pre-minting, origin wallets, admin keys and other features that disadvantage some investors and users. Instead, the free minting function is open to all users via Ethereum-compatible wallets.
XEN’s founder, Jack Levin, designed the platform to stand apart in other vital ways. For example, XEN is a censorship-resistant crypto that is immutable and has open-source code on the Ethereum blockchain. There’s no management team involved, so it’s truly a trustless community project. The XEN smart contract platform applies the same unchangeable rules to all users to ensure equitable distribution of new tokens and community growth.
While many crypto projects utilize a proof of work (PoW) or proof of stake (PoS) protocol, XEN Crypto’s Proof of Participation (PoP) consensus mechanism means that anyone who spends time and energy minting tokens benefits from self-custody. The user maintains full ownership of those tokens, and the token’s value is specifically tied to community participation through the PoP protocol.
Anyone can join the XEN Crypto community by connecting their wallet to the XEN smart contract, after which they can immediately start the free minting process. While some cryptocurrencies are used for gaming mechanisms, lending and more, the purpose of XEN cryptocurrency is simply for exchange. The tokens can be staked, traded or even used to purchase NFTs and other items.
XEN’s smart contract platform is designed with community growth in mind. The XEN team has created its unique features to remain true to blockchain’s original intent, which is rooted in security, transparency, self-ownership and other core values. Compared to other cryptocurrencies, XEN has one of the lowest barriers of entry with a free mint function. But that's not all — XEN has other impressive qualities that make it a top choice for crypto enthusiasts.
XEN is launched with zero supply, with no pre-mining or token sale. The community controls the minting of tokens through a free process. There’s no need to first deposit XEN in order to mint tokens. The free mint function is initiated when you connect an Ethereum-compatible wallet to the XEN smart contract. While minting is free, users may have to pay gas fees.
Initially, the XEN token is inflationary, with no cap on the supply. However, as the adoption of XEN Crypto increases, the token will become disinflationary as more people take advantage of minting tokens. Uniquely, this project has no investors, and the XEN token had no intrinsic value at its launch.
The XEN minting process can be compared to that of Bitcoin. Specifically, for both XEN Crypto and Bitcoin, as new participants become active, it becomes increasingly challenging for newcomers to mint new tokens and earn rewards.
When using the free mint function, you can set a time period for receiving your XEN tokens, with longer periods resulting in more tokens. The smart contract will then give you a XEN rank (cRANK), which is determined by the number of individuals who have interacted with the XEN smart contract before you. As you invite more people to join the minting process, your XEN rewards will also increase.
XEN Crypto will maintain the free minting function until there are more than 5,000 users. This free function limits the claim term to 100 days. Once the platform has more than 5,000 users, the logarithmic function used by the platform will make minting new tokens increasingly difficult in that the waiting period will increase.
Further, once the minting steps are completed, a progressive penalty will be applied to those who wait longer than 24 hours to claim their tokens, and the tokens' value will decrease by 99% only seven days after the initial claim period. The purpose of this policy is to avoid a price crash that may occur if a user claims multiple rewards at one time.
To maximize return, a XEN minter can stake their holdings up to a maximum of 1,000 days. While the APY for the staking rewards starts at a high of 20%, after every 90 days from the launch of XEN the percentage will decline by 1%, and by the 1,620th day, the APY will be fixed at 2%. While you can unstake at any time during the staking period, you won’t receive any APY rewards if you do so.
XENFT is a non-fungible token (NFT) stored in XEN Torrent, a smart contract that can be used on any EVM-compatible blockchain. There are three types of XENFTs: Common (or Ordinary), Limited and Rare. Rare and Limited XENFTs have a built-in burning mechanism that decreases the total supply of XEN. The burning of XEN is accelerated through its 5% royalty fees on secondary markets, such as OpenSea, of which 2.5% are used for buyback and burn.
XEN seeks to create utility for its token and encourage mass adoption through XENFTs, which can be used to mint XEN in bulk. XENFTs are created during a special XEN staking process, and cannot be unstaked before the mint term ends, unlike regular XEN staking.
You can acquire XEN in a few straightforward steps, without special software or equipment.
First, head to XEN DApp and select your preferred network. XEN supports up to 10 well-known blockchains, including Polygon, Moonbeam and Dogechain. Next, connect your wallet to the XEN DApp. XEN supports multiple wallets, including Ledger and Exodus. Then, state how many days you want to wait, and claim your cRANK before receiving your tokens. Sign the transaction and pay the gas fee, and wait till the end of your term before claiming your XEN.
You can create as many accounts as you wish to mint XEN. However, you can only claim one cRANK per account at a time. Once the process has been completed within one account, you can repeat it in that same account. But if you wish to mint multiple times, you can use XENFTs to mint in bulk.
As of Apr 11, 2023, the current price of XEN is $0.000003. This represents over a 270% price increase in the last 30 days. While various fluctuating factors directly impact crypto prices, expert insights about the future value of a token could be helpful.
According to DigitalCoinPrice, the price of XEN may hit $0.000011 by the end of 2025 and continue to increase to $0.000032 by 2030. Meanwhile, PricePrediction expects a slower though steeper climb for XEN, forecasting that the price of XEN may reach $0.0000083 by the end of 2025 and $0.000054 by the end of 2030.
Since XEN’s launch, the token’s price has progressively declined until very recently. If you’re thinking about a long-term hold for your XEN tokens, it’s important to note that many experts don’t believe its value will reach $1, either within the next decade or beyond. One reason is that a typical XEN minter may be inclined to unstake their holdings and sell them for a profit.
However, XEN's price has risen since XEB implemented its burn feature, which removes burned tokens permanently from the total supply. When the burn function began, XEN transitioned from an inflationary to a deflationary token. It also created a use case for XEN, as the burn mechanism results from the minting of XENFTs. Both of these developments have created a price rally that may continue. The increasingly challenging minting process for new XEN also enhances this upward pressure.
In addition, Levin, the XEN founder, has recently placed the project on the Bitcoin blockchain so that XENFTs can be inscribed on it, which will make the NFTs permanently on-chain as Bitcoin NFTs. Known as XENtoshi, the project is still in development. Bitcoin will become XEN’s 11th chain at the time of its launch.
XEN Crypto's cutting-edge design and features have garnered considerable interest since its inception. Nonetheless, the token's worth had been decreasing until recently. However, its shift to a deflationary token and upcoming developments have the potential to turn things around, presenting an opportunity for investors and users to explore XEN Crypto’s upward potential.
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