A Transparent and Fair Crypto World: XEN Crypto

By CoinUnited.io Research Team

11 Apr 2023

3 min read

Are you enthralled by the cryptocurrency industry but feeling overawed by the difficulties many projects encounter, such as pre-minting, whale actions, and overbuying? XEN Crypto, the brainchild of the Fair Crypto Foundation, is quickly gaining a reputation as the cryptocurrency for or it's intended audience thanks to solutions that address these issues head-on. This project merits further investigation since it has low entrance barriers and remarkable characteristics.

Transparency, self-custody, and decentralization are supported as fundamental principles of the blockchain. Without pre-minting, origin wallets, admin keys, and other features that disadvantage some users and investors, the project uses the Ethereum network. Through Ethereum-compatible wallets, the free minting feature is instead open to all users. Jack Levin, the creator of XEN, created the platform in such a way that it stands apart from the competition in other ways. For instance, XEN is an immutable, censorship-resistant cryptocurrency that runs on the Ethereum blockchain and includes open-source code. It is a trustless community initiative because there is no management staff participating. To ensure fair distribution of additional tokens and community expansion, the XEN smart contract platform applies the same unchanging rules to all users.

While many cryptocurrency projects use a proof of work (PoW) or proof of stake (PoS) protocol, XEN Crypto's Proof of Participation (PoP) consensus method allows anybody who invests time and effort into minting tokens to profit from self-custody. The PoP protocol directly ties the token's value to community engagement, and the user retains complete ownership of those tokens. By linking their wallet to the XEN smart contract, anybody may join the XEN Crypto community and begin the free minting process right now. The XEN cryptocurrency's only usage is for exchange, as opposed to several cryptocurrencies that are used for lending, gambling, and other things. The tokens may be staked, sold, or even used to buy NFTs and other assets.

The platform for smart contracts on XEN was created with community development in mind. In order to stay loyal to blockchain's original objective, which is based on security, transparency, self-ownership, and other fundamental ideals, the XEN team has developed its special characteristics. With a free mint function, XEN has one of the lowest entrance requirements when compared to other cryptocurrencies.

With no pre-mining or token sales, XEN is released with a zero supply. Through a free process, the community regulates token minting. To create tokens, no prior XEN deposit is required. When you link an Ethereum-compatible wallet to the XEN smart contract, the free mint feature is activated. Users might have to pay gas costs even though minting is free. With no supply cap at first, the XEN token is inflationary. The token, however, will deflate as more individuals take advantage of the minting of XEN Crypto tokens as its acceptance grows. The XEN token had no inherent value upon its introduction, and this project is unique in that it has no investors. In particular, it gets harder for newbies to create new tokens and gain incentives in both XEN Crypto and Bitcoin as more people get involved.

You may specify a time period for obtaining your XEN tokens when utilizing the free mint function, with longer periods yielding more tokens. The XEN rank (cRANK), which is based on how many people engaged with the XEN smart contract before you, will then be assigned to you by the smart contract. Your XEN incentives will rise as more individuals join the minting process through your invitations. The logarithmic algorithm the platform uses will make minting new tokens more challenging as the waiting period lengthens until it reaches 5,000 users. The value of the tokens will drop by 99% only seven days after the first claim time is over, and those who wait longer than 24 hours to claim them will face a gradual penalty until the minting processes are over. Staking XEN A XEN minter can stake their assets for up to 1,000 days in order to maximize return. While the annual percentage yield (APY) for the staking incentives initially starts at a high of 20%, it will gradually decrease after every 90 days from the introduction of XEN by 1% until it is locked at 2% by the 1,620th day. While it is possible to unstake at any point during the staking period, doing so will result in no APY benefits.

A non-fungible token (NFT) called XENFT is kept in XEN Torrent, a smart contract that may be utilized on any blockchain that complies with the EVM. XENFTs can be classified as Common (or Ordinary), Limited, or Rare. Through its 5% royalty fees on secondary marketplaces, including OpenSea, of which 2.5% are utilized for repurchase or burn, the burning of XEN is hastened. Through XENFTs, which can be used to mint XEN in large quantities, XEN intends to develop use for its token and promote widespread adoption. In contrast to conventional XEN staking, XENFTs are produced through a unique XEN staking procedure and cannot be unstaked before the mint time expires.

Without specialized software or equipment, you may purchase XEN in a few simple steps. Go to XEN DApp and choose your desired network first. Up to 10 well-known blockchains, including Polygon, Moonbeam, and Dogechain, are supported by XEN. Ledger and Exodus are only two of the wallets that are supported by XEN. Then, specify the number of days you want to wait, claim your cRANK, and wait to receive your tokens, or state that you don't want to wait that long. Wait until the end of your term before claiming your XEN after signing the transaction and paying the gas price. You may only use one cRANK per account at a time, though. Once the procedure is finished in one account, you can carry it out again in that same account. However, you may utilize XENFTs to mint in bulk if you want to mint a number of times.

The price of XEN as of April 11, 2023 is $0.000003. While many varying factors have a direct influence on cryptocurrency values, expert predictions regarding a token's future worth may be useful. The price of XEN may reach $0.000011 by the end of 2025 and continue to rise to $0.000032 by 2030, according to DigitalCoinPrice. PricePrediction predicts that the price of XEN will increase more slowly but steadily, possibly reaching $0.0000083 by the end of 2025 and $0.000054 by the end of 2030.

The price of XEN has steadily dropped from the token's inception until just lately. It's vital to keep in mind that many experts don't expect the value of XEN tokens will reach $1, either during the next decade or beyond, if you're considering holding them for a long time. However, because XEB deployed its burn function, which permanently eliminates burned tokens from the overall supply, the price of XEN has increased. XEN switched from being an inflationary to a deflationary token when the burn function started. Since the burn process arises from the minting of XENFTs, it also established a use case for XEN. Additionally, the project has just been added to the Bitcoin blockchain by XEN creator Levin so that XENFTs may be inscribed on it, permanently putting the NFTs on-chain as Bitcoin NFTs. The XENtoshi project is still in construction.

However, up until recently, the token's value had been declining. However, its switch to a deflationary token and impending changes may turn things around, giving users and investors the chance to investigate XEN Crypto's upside potential.

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