XEN CryptoPrice

(XEN)

XEN CRYPTO PROJECT SUMMARY Project Overview and Origins XEN Crypto is a decentralized blockchain project launched in October 2022 by the Fair Crypto Foundation. The project was founded by Jack Levin, a serial entrepreneur and former early infrastructure engineer at Google. The primary mission of XEN is to return to the first principles of cryptocurrency as originally described in the Bitcoin whitepaper. These principles include decentralization, self-custody, transparency, and trustless consensus. Core Philosophy and Fair Launch A central aspect of XEN is its commitment to a fair launch. Unlike many contemporary projects, XEN had no initial token supply, no pre-mining, and no private sales to venture capitalists or investors. There is no team allocation or hidden origin wallets. The project is governed by an immutable smart contract with no admin keys, meaning no central authority can stop or modify the protocol. This design ensures that every participant has an equal opportunity to acquire tokens under the same set of rules. The Minting Mechanism XEN operates using a unique Proof of Participation model. Instead of using computer hardware to mine or locking up assets to stake, users generate new tokens by interacting directly with the smart contract. To start the process, a user connects a compatible wallet and claims a rank. The user then chooses a waiting period, known as a mint term, which can range from a few days to several hundred. After the selected term expires, the user returns to the platform to mint and claim their tokens. The number of tokens received is calculated based on the user's rank relative to the total number of participants and the length of the waiting period. Tokenomics and Supply The supply of XEN is entirely created by its community members through the minting process. There is no maximum limit on the total supply; however, the protocol features an inflationary model that transitions toward a disinflationary state as adoption increases. This is achieved through a reward amplifier that decreases over time and an increasing difficulty for new participants to claim high ranks. Furthermore, the ecosystem includes mechanisms to burn tokens, such as through the creation of XENFTs, which allow users to batch multiple minting transactions into a single non-fungible token. Network Expansion While it originated on the Ethereum blockchain as an ERC-20 token, XEN has since expanded to various other blockchain networks, including Polygon, BNB Smart Chain, Avalanche, and others. This multi-chain approach is intended to make the project accessible to a wider audience by offering entry points on networks with lower transaction costs. By removing the requirement to purchase tokens from a centralized exchange, XEN aims to foster a community-driven ecosystem where value is derived from active participation and the passage of time. Learn more

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