In the past 24 hours, XEN Crypto's smart contract interaction has consumed 1431.14 ETH, accounting for 47% of the total gas burn in 24 hours on ethereum/">Ethereum, which makes many people question, what exactly is XEN Crypto that can be used for a day A popular project?
XEN Crypto is a "new type of decentralized project" founded by Google's 21st employee Jack Levin, which can mint tokens with "time" only by paying gas. According to the project's official website, "XEN is a fresh breeze in the crypto world. The value is based on your preference for time and the number of like-minded people. You can get what belongs to you for free." The first principle of the white paper: Promote self-regulation, trust, transparency and decentralization through consensus.
Since you only need to pay the gas fee, and the rest only has to wait to get the currency, the new minting method has attracted many community members to participate.
XEN Crypto Mining Principle
According to the white paper of the project, the mining mechanism used by the native token XEN issued by it is called Proof of Participation. There is no initial supply, it will start from 0, and there is no supply cap, and users can mint for free by themselves. , but the project's algorithm will give a ranking (cRank) according to the "waiting time" set by the user when joining the minting list, and determine the number of tokens minted according to this ranking. The more people participating in minting, the mining difficulty will also follow. promote.
XEN Staking and Trading
It is also mentioned in the official white paper that XEN will open the staking function. The maximum lock-up days are 1,000 days. The staking reward APY starts from 20%, and every 90 days from Genesis (10/8), the APY will drop by 1%.
At present, $XEN is not listed on any centralized exchange. Officials say that after the first batch of tokens are minted, they will most likely appear in the Uniswap trading market, but they are not currently opened in Uniswap, and investors should be careful.
