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XEN is a self-custodial exchange of value.
The XEN token is a value of entity (i.e. the value is its participation in the greater scheme of which it is a part of) intended to be optimal for p2p exchange - thus will be a medium of exchange.
XEN aims to become a community-building Crypto asset that connects like-minded people together and encourages grassroots educational projects.
XEN is designed to become a universal Cryptocurrency to achieve the original mission of blockchain - following the 1st principles thereof - such as decentralization, transparency, counterpart risk-resistance, peer-to-peer value exchange and self-custody.
XEN is designed to reach mass market adoption with the lowest barrier to entry possible compared to any other digital asset out there today.
XEN is a protocol built upon the ERC-20 standard on the Ethereum blockchain, and 12 other EVM chains.
The XEN community fosters world-wide inclusivity and encourages educational values for anyone interested.
XEN holders create a sustainable network through a trustless consensus of delayed gratification.
Features and Benefits of the XEN Protocol
Permissionless
Anyone, anywhere with an internet connection and a web browser can connect to the XEN protocol via the website.
Transparent
All code for the XEN protocol is open-source. See it on github.
On-chain
Transactions of XEN occur on a distributed, public ledger.
Immutable
Immutable transactions make it impossible for any entity (for example a government or corporation) to manipulate, replace, or falsify data stored on the network.
Trustless
Trustless means that you don't have to trust a third party: a bank, a person, or any intermediary that could operate between you and your cryptocurrency transactions or holdings. XEN is a trustless system.
Self-custodial
Self-custody signifies that only you have the possession of your XEN or other digital assets because you control the private key(s) of your own wallet(s). You have the responsibility to safeguard access to your private key(s) because it is not stored anywhere else and cannot be recovered if the keys are lost.
FREE mint in perpetuity
You don't have to exchange any form of value to acquire XEN tokens. However, note that every time you interact with the protocol you will have to pay for gas, or in other words, a transaction fee.
Lowest barriers to entry possible
XEN removes unnecessary obstacles for adoption by reducing the amount of steps needed to interact with the blockchain protocol. All anyone needs is a smartphone and an internet connection to mint XEN.
Accelerates crypto adoption
With FREE mint of XEN in perpetuity and the removal of unnecessary on-ramping barriers, Crypto adoption is given the chance for exponential increase. XEN has devised an optimal solution by rewarding early adopters, while simultaneously retaining its high value to later adopters many decades to come.
EASY to participate
XEN protocol has intentionally made it very simple to participate for any new user. This is true in terms of minimized practical, technical and theoretical pre-qualifications, minimized need of previous knowledge of Crypto, and the removal of the need to transact existing value, or fiat, in order to acquire XEN tokens. We have streamlined user experience with the minimal amount of inputs required. All that is required is an internet connection, a web browser, a wallet and gas to pay transaction fees.
Decentralized
Decentralization is the process by which the activities of an organization, particularly those regarding planning and decision making, are distributed or delegated away from a central, authoritative location or group. XEN aims to achieve a significantly higher level of decentralization than any other digital asset, through its design features and adoption.
Transactional friendly
The XEN token is a value entity (i.e. the value is its participation in the greater scheme of which it is a part of), intended to be optimal for p2p exchange - thus a medium of exchange.
Minimal amount of code <400 lines
The XEN protocol is streamlined for its purpose. The protocol consists of less than 400 lines of code in total. This feature ensures efficiency, lower transaction fees, broader understanding, as well as less points of failure.
Viral tokenomics
The XEN mint formula is designed to incentivize maximum adoption of the protocol. Through the rank delta function everyone benefits from adoption. The time-dependent reward amplifier(AMP) and the early adopter amplification factor (EAA) are designed to incentivize early adopters who, through their Proof-of-Participation (PoP), help build the network.
Encourages long-term investing
The ever-increasing mintTerm (T) incentivizes users to delay their gratification by prolonging minting through the activation of the XEN mint formula. This creates a sustainable, less volatile and more robust network effect.
Yield optimization built in
XEN protocol's mint formula and stake function makes optimizing the yield for any user easier than ever, with minimal requirement of previous knowledge of Crypto or investing and less components needed to adjust for optimal yield per interacted wallet address.
Great sustainable staking rewards
XEN prototcol incentivizes sustainability and high adoption growth of the of the network by offering comparatively high staking rewards. The APY rewards are programmed on a time-based algorithm, starting at 20% on XEN genesis and decreasing until it reaches 2%, whereupon it will stay indefinitely.
Community built and driven
XEN protocol is built, iterated and fostered by the XEN community, which encourages inclusivity and p2p education. XEN protocol is built by people for people.
Value and ethos driven foundation
XEN is a project initiated by the Fair Crypto Foundation. The Fair Crypto Foundation aims to empower the individual in navigating the evolving world of cryptocurrencies through understanding of the first principles of Crypto. In our view, the first principles of Crypto are self-custody, transparency, trust through consensus, and permissionless value exchange without the counter-party risk as originally envisioned by Satoshi Nakamoto's whitepaper. https://faircrypto.org
Experienced founder
XEN protocol, as well as the Fair Crypto Foundation, has been devised by Jack Levin, an open-source technologist and an early Google Engineer (‘99-05). Jack Levin has 30 years of open-source experience, is highly educated and competent within the areas of open-source, scalability and Crypto.
Audited
The XEN protocol has undergone a 3rd party audit to make sure that it is as secure as possible. The audit is done by CertiK, the leading security-focused ranking platform to audit and monitor blockchain protocols. Anyone considering interacting with the XEN protocol is advised to take part of the audit and make an individual decision of the risk/reward. The audit is in no way a guarantee for safe interaction with the XEN protocol. View the audit here.
No counterparty risk
Counterparty risk is the probability that the other party in an investment, credit, or trading transaction may not fulfill its part of the deal and may default on the contractual obligations. XEN eliminates the risk completely, simply by removing any counterpart between a user and the protocol.
No initial supply, starts at 0
At genesis, T=0, there will be 0 supply of XEN. Supply can only be generated by users interacting with the protocol through the process of first claiming a cRank by connecting their wallet, then choosing T, the mint term and at T, claiming the mint. XEN protocol emphasizes delayed gratification as a means of greater reward later.
No pre-mint
No address will have pre-minted XEN before genesis, even Jack himself. This can be verifiable.
No maximum cap on the supply
XEN has no cap on supply. For the purpose of achieving adoption in perpetuity this is a necessity. Although XEN is inflationary initially to stimulate adoption, it becomes disinflationary with time (log rank delta + reducing AMP) and increased adoption (cRg and EAA) - making it increasingly difficult to mint new XEN. The only way to acquire more XEN will be to increase T, i.e. choose a longer mint term, and delay gratification.
No team allocation
XEN protocol has no team attached to it. All contributors will have an equal opportunity to participate in the XEN protocol. This also removes the potential burden of misaligned incentives between the team and the community. As seen in other Crypto projects, teams may make short-term decisions in order to pump the price, to then sell their shares. Whether this is conscious or unconscious, intentional or unintentional - with XEN this will never be an issue.
No VCs
No venture capital has been acquired for XEN protocol. Venture capital can fill a practical function in the creation of value by enabling new ideas to reach the market. However, venture capital is neither needed nor preferred to attach to the XEN protocol. The XEN protocol will not reward and has not rewarded any contribution made to the making of XEN protocol.
No admin keys
The XEN protocol is not attached to any private keys that can influence the protocol.
No hidden doors
The XEN protocol has no hidden doors built in.
No Origin Address (OA)
There is no financial liquidity control or centralization. XEN protocol removes all unnecessary uncertainties.
No centralization
It is highly unlikely that one party will ever own more than 1% of the whole XEN network.
No CEX (listing/route)
XEN is intended to only live on DEX's (decentralized exchanges). To achieve true self-custody this should be encouraged. By removing the CEX (centralized exchange) route and minimizing the steps needed to start interacting with not only the XEN protocol but in turn any other digital asset, world-wide adoption for XEN but also decentralized digital assets may be exponentially increased.
No HODL needed
XEN is something you don't need to HODL (i.e. hoarde for a long time). Once XEN is staked on the protocol, it gets burned. Burning is the process that effectively takes tokens out of circulation, reducing the total supply of XEN and, in some cases, increasing its demand. When XEN later becomes unstaked by the user, the XEN protocol re-mints the users XEN together with the APY.
No loss of principal if EES, only APY
If a user decides to end their stake early (EES), the user will not lose their staked XEN. Only the APY will be lost. This creates flexibility for the users to obtain their XEN if they want, while keeping them incentivized to continue staking.
https://faircrypto.org/
“The underlying ethos of blockchain has always been to shift the balance of the economic power away from centralized organizations through proliferation of the self-powered cryptographically secure digital self-ownership.” - Jack Levin
“The Fair Crypto Foundation aims to empower the individual in navigating the evolving world of cryptocurrencies through understanding of the first principles of Crypto. In our view, the first principles of Crypto are self-custody, transparency, trust through consensus, and permissionless value exchange without the counterparty risk as originally envisioned by Satoshi's white paper.”
The Fair Crypto Foundation concept has been devised by @mrJackLevin, an open-source technologist and an early Google Engineer (‘99-05) and developed by a small group of partners - professionals in computer science, communications, software and product development, marketing and investments. The Foundation's goal is to carry out its vision through education, organization and by launching blockchain projects embodying the first principles of Crypto.
An open-source technologist and an early Google Engineer (‘99-05)
21st employee at Google
Jack Levin built Google Cloud’s first rack in 2000
Bitcoin OG. Mined BTC 2011 for $1-3 USD/BTC.
30 years of open-source experience
Drinks tea
Jack Levin devised and founded both the Fair Crypto Foundation and the XEN protocol.
His leadership transcends through, and his vision inspires the whole XEN community.
Founder - ranked #161 out of 2,000,000,000 websites
Follow on twitter
Here you can find the latest version of the XEN whitepaper:
visit https://xen.network
Visit https://xen.network
Prepare Get an address, wallet and some gas for transaction fees.
Claim your CryptoRank (cRank) By actively accessing the network page you prove your Proof of Participation (PoP) and receive a cRank. You may then decide your mintTerm (T), 0-100+ days. You may revisit the page to check the status of your mintTerm by viewing your personalized loading bar, which incrementally grows as your term nears completion.
MINT your XEN crypto Return to xen.network at your chosen time in (2) and claim your XEN tokens. You may then decide to stake or keep your XEN tokens liquid.
STAKE your XEN crypto You may choose 1-1,000 days to stake your tokens. Staking percentages vary between 2-20% APY.
In order to interact with the XEN protocol to mint tokens, a new user will need a wallet and gas. The protocol reads addresses.
Wallet
Download any wallet compatible with the Ethereum blockchain. You may download a wallet on your mobile phone or computer. Wallets are free to download and use. Here you can find wallets: https://ethereum.org/en/wallets/find-wallet/
If you are new to Crypto, you might consider the Metamask (MM) wallet, since it is most widely used in the ethereum eco-system. https://metamask.io/
Gas
Gas is required to interact with protocols. Think of gas similar to a card transaction fee. Every time you interact with a protocol, including the XEN protocol, you are required to pay a gas fee for that transaction. To transact with the Ethereum network you need Ether (ETH). The price of ETH varies and depends on how congested the network is.
Learn how to purchase ETH here. Learn more about how gas fees work here: https://ethereum.org/en/developers/docs/gas/
Example: If we assume A 175.000 gas limit Current GWEI is 9 ETH is $1,620.00
Then: 175,000 x 9 GWEI /1B x $1,620 USD/ETH = $2.55 USD gas fee.
(You divide by 1B because 1,000,000,000 wei = 1 GWEI)
https://etherscan.io/gastracker https://www.blocknative.com/gas-estimator
XEN rewards are loosely based on game theory with several variables that influence the reward outcome. To mint new XEN coins, one must generate their Crypto Rank (cRank). Your cRank is a natural number, representing the relative standing across the XEN ecosystem. For example, a cRank of 5,000 represents the fact that 4,999 people before you have decided to mint XEN for themselves and have submitted their transactions before you did. The XEN smart contract tracks a Global cRank within the ecosystem which increases every time someone else joins as a participant and generates their cRank.
When claiming your cRank you will also be prompted to choose your mintTerm (T). Mint Term, or Maturity (T) - a minimum time difference (measured in full days) between the initial claimRank (cRank) transaction and subsequent claimReward transaction. This parameter is submitted by the user during their claimRank transaction and is recorded in the XEN Smart Contract automatically.
In order to increase the amount of XEN tokens you may mint, one must indicate the maximum number of days they are willing to wait for their rewards.
Thus, inviting new people to join the network will create more rewards for all of the participants (including the invitees).
Visit xen.network to check the active status of your mint and how many days are left before you may claim and mint your XEN tokens. We suggest you make a note and alert on a calendar to notify you of your approaching mint day.
Generally, you should be able to claim / mint within a 24 hour period after the end date. However, please keep in mind that your XEN rewards will be progressively reduced if you do not claim / mint XEN after the date of the term you’ve chosen.
The reason for progressive reduction is to avoid bad actors that create ladders of “invisible” claims, and then claim all at once to crash the value of XEN. The penalty for not claiming/minting XEN is progressive and becomes 99% after 7 days (a Reward Claim Window); this means that after 7 days, claiming/minting XEN will not be possible, no matter how many days the term of participation was.
The staking period is limited to the following range: 1 to 1,000 days.
The XEN staking period may be terminated without penalties at any time within the agreed term; however the APY rewards will not be pro-rated or paid if staking is terminated before the staking period is over.
You will be able to stake XEN for any number of days between 1 and 1,000, and receive APY rewards, which will start at 20% on XEN Genesis (Day 1 of launch) and will decrease by 1 percentage point every 90 days thereafter until it reaches 2%, whereupon it will stay at 2% indefinitely.
Each stake’s APY is fixed at the time of the stake, depending on how many days have passed since XEN Genesis. So, for example, if you are staking 100,000 XEN for 365 days within the first 90 days since XEN Genesis, you will be able to claim 120,000 XEN after this period. The stake reward amount is based on a non-compounding APY model.
Term limits (in days), are set to follow the total activity of the Proof of Participation (PoP) protocol. Specifically, the maximum Free Mint Term is capped to 100 days until the protocol registers more than 5,000 unique participant addresses as tracked by the Global Rank. The term will start increasing logarithmically as more participants join the protocol, using the following formula:
The stake reward amount is based on non-compounding APY and will be calculated using this formula:
Internally, the smart contract will burn staked XEN (i.e. remove them from the total supply permanently) in order to reduce the total supply of XEN tokens, recording the debt to the original stakeholder. Each Smart Contract will re-mint the original staked XEN tokens together with an extra 20% rewards as newly minted.
Note: 20% is used as example in this formula. The APY varies based on days since genesis. See the table here.
Terms used in Litepaper XEN Smart Contract Public Interface
CryptoRank (cRank, cRU) - a unique number assigned to any Ethereum address which submits successful claimRank transaction.
Global CryptoRank (cRG) - current value of the global XEN variable which increases monotonously incrementing by 1 with each successful claimRank transaction - a measure of the power of the XEN network.
Genesis Time (tsG) - timestamp of XEN Smart Contract instantiation on the Ethereum blockchain (derived from block.timestamp in constructor)
Reward Amplifier (AMP) - time-dependent constant, decreasing every 30 days after XEN Genesis Time (day 1 of network launch). AMP is recorded on-chain and is used in the calculation of mint rewards at the time of a pairing claimReward transaction.
Mint Term, or Maturity (T) - a minimum time difference (measured in full days) between the initial claimRank transaction and subsequent claimReward transaction. This parameter is submitted by the user during a claimRank transaction and is recorded in the XEN Smart Contract.
Early Adopter Amplifier (EAA) - an extra incentive rate for the earliest adopters of XEN, which starts at 10% at the XEN Genesis and then decreases by 0.1 percentage points every time the Global Rank reaches another 100,000.
Free Mint Term - a maximum Mint Term (Maturity) value that the user can choose when submitting their claimRank transaction. Free Mint Term starts at 1-100 days and stays constant until Global cRank reaches 5,000. After that, Free Mint Term is calculated as 100 + log2(cRG) * 15.
Reward Claim Window - a maximum amount of time (measured in full days), during which a user is allowed to submit claimReward transaction and mint their XEN tokens. The Reward Claim Window starts at the time of claimRank transaction PLUS Mint Term (or Maturity), as recorded in the XEN Smart Contract. As the Reward Claim Window starts, a Withdrawal Penalty is calculated in a progressive fashion, increasing each full day (Penalty is 0 for the first 24 hours of Reward Claim Window).
APY, Annual Percentage Yield - is a non-compounding annualized return on your XEN stake. APY is set programmatically by the XEN smart contract; it starts with 20% and is decreased by 1 point every 90 days until it reaches the terminal value of 2%.
claimRank (uint256 term) - executes a transaction claiming the user’s cryptoRank (cRank) and creating a mint record, which captures their cRank, Mint Term (T), Maturity timestamp (current timestamp + term in seconds) and current Reward Amplifier. The term is expected to be in the range of 1-1000. The transaction will revert if a mint record already exists for the current user's address.
claimMintReward () - executes the transaction ending the Mint Term and claiming (minting) user Reward (XEN tokens) (possibly decreased by the Penalty amount; see Reward Claim Window). Transaction will revert if: (1) no mint record is found for a user, (2) Mint Term is not yet over.
claimMintRewardAndShare (address other, uint256 pct) - executes transaction ending Mint Term and claiming (minting) user Reward (XEN tokens) (possibly decreased by Penalty amount; see Reward Claim Window). Minting proceeds are split between the owner and a designated other address (The other will receive pct% and owner will receive 100%-pct% of net due reward amount). Transaction will revert if: (1) no mint record is found for a user, (2) Mint Term is not yet over.
claimMintRewardAndStake (uint256 pct, uint256 term) - executes transaction ending Mint Term, staking the pct of the net reward amount (possibly decreased by Penalty amount; see Reward Claim Window) for term, days and claiming (minting) minting the balance as XEN tokens. Transaction will revert if: (1) no mint record is found for a user, (2) Mint Term is not yet over, (3) Active Stake exists for the user.
stake (uint256 amount, uint256 term) - executes transaction staking amount of XEN for term days by creating a Stake record in the Smart Contract, which captures the stake parameters, Maturity timestamp (current timestamp + term in seconds) and current APY. Amount is any number from 1 and up to the total current user's XEN balance. Term (in days) is any number from 1 to 1,000. Transaction will revert if a stake record already exists for current user's address. N.B.: Stake transaction burns amount of XEN tokens until the user withdraws stake.
withdraw () - executes transaction to withdraw amount of XEN previously staked plus calculated rewards. Stake rewards depend on stake amount, stake term and the APY pro-rated by the term against 365 days. Stake could be withdrawn at any time without any penalties. If withdrawn before reaching stake maturity, a user receives the full amount of their stake with zero rewards. If withdrawn at any time upon reaching stake maturity, the user receives the full amount of their stake PLUS the calculated APY reward. Transaction will revert if: (1) no matching stake record is found. N.B.: Withdraw transaction mints the original amount of XEN tokens staked, plus any reward XEN tokens due.
getUserMint () - returns MintInfo record for the current user's address, if any.
getUserStake () - returns StakeInfo record for the current user's address, if any.
XEN Torrent is run by an ERC721 compatible smart contract that interacts with XEN protocols ERC20 smart contract, by virtue of bulk minting XEN as well as implementation of the Proof of Burn function native to the ERC20 contract. XEN torrent issues non fungible tokens, XENFTs, which contain user encapsulated cRanks, with the same maturity date.
XEN Torrent protocol is an immutable contract, with no admin keys and 100% transparent and open-source. The protocol is audited and audit report is shared with the XEN community prior to launch. There will be no pre-mint of XENFTs, as well as no founder or team allocations, whitelists, blacklists or sacrifices.
Comparison | XEN Protocol | XEN Torrent protocol |
---|---|---|
Standard
ERC-20
ERC-721
Issuance
XEN (fungible token)
XENFT (non-fungible token)
Main purpose
Medium of exchange
Bulk mint XEN, makes economic energy tradable
As illustrated in the diagram above the classic way to mint XEN is through claiming cRank through the ERC-20 protocol.
XEN Torrent gives the user the ability to bulk mint multiple cRanks at once. The protocol introduces VMU - virtual minting units. It's a virtual wallet created by the XEN-torrent smart contract.
Each VMU is like a container for a claimed cRank from XEN’s base ERC-20 protocol. The VMU's are controlled by the user through the same smart contract. No one has the keys to these virtual wallets. Access to them is controlled by the XENFT that you receive.
When you mint a XENFT you choose the number of VMUs you want to make. The number of VMUs you can make is anything from 1 to N, where n is limited by the networks gas block limit.
The user also chooses the mint term which will be the same for all VMUs holding cRanks.
The XENFT is the key to the bulk mint. XENFT will acts like a key that unlocks the ERC20 tokens (XEN) later.
XENTorrent(ERC721) is like a minting factory - which creates multiple XENFT records each with access to multiple VMUS continuing cRanks.
Since XEN Torrent tokens adhere to ERC-721 NFT standard, they are transferrable. This means that one user can transfer a XENFT owned by the user to another user .
User can go to Opensea or any NFT marketplace directly and sell it to someone. So the buyer can come straight from the NFT world and take part of the 1st principles of crypto with one transaction. You will then transfer the future mint rights to that person, since they are held though the XENFT.
XEN Torrent XENFT serves as an access token to claim rights to the bulk XEN minting. It’s a classic bearer token, which means that whoever owns (presents) XEN Torrent Token can claim the proceeds of XEN ERC-20 mint.
A user can (either through a wallet address or a smart contract) own an unlimited number of XENFTs.
For the issuance of some XENFTs user is also required to burn XEN
The diagram above illustrates how the protocol actually interacts for that action. The burn happens in the XEN torrent contract. You give permission to the XEN torrent contract to burn your XEN and then it calls the proof of burn function native to the XEN protocol. Technically your XEN will then be sent to a null address where it cannot be sent out from.
The amount of XEN you want that the user burns needs to be in the users wallet for the transaction to successfully go through.
At maturity date user can claim the mint of XEN, with the XENFT, at xen.network.
User then perform a bulk ClaimMintReward with the XEN Torrent contract.
The VMU, virtual minting units self-destruct, and in turn performs a claimMintReward to XEN protocol, just like a users would have normally with the classic method.
XEN protocol then then mints the Xen tokens and transfers them to you address (which could be your original address or any other address in the network).
The output of the transaction is XEN in users wallet and a redeemed XENFT.
XEN minting operation initiated via XEN Torrent smart contract is run by XEN Crypto ERC-20 smart contract; whereby the same rules of claiming rank and claiming mint rewards apply. XEN minting initiated via XEN Torrent has no special treatment, it shares the same Global Rank counter as direct operations via XEN Crypto. Same is true for mint claim/withdrawal penalties; after 7 days you claimable reward is down to 1%. Users are encouraged to be mindful of the maturity date and the 7 day withdrawal time window.
The XENFT will store properties, where some are related to the XEN (ERC20) minting and others specific to XEN Torrent.
All the properties captured in the XENFT are immutable, which means they cannot be changed, except for the ‘Redeemed’ property, which is a boolean value and is set to ‘false’ upon XENFT minting.
Once the user has performed the second phase and claimed the minted XEN ERC20 tokens, XENFT is said to be redeemed and the ‘redeemed’ property is set too 'True'.
XEN Protocol related | XEN Torrent specific |
---|---|
Term (days)
Count of VMUs
Maturity timestamp
Category
cRank (first VMU)
Amount XEN burned
AMP (first VMU)
Redeemed (or not)
EAA (first VMU)
XEN Torrent XENFTs come in 3 different categories: Apex, Limited and Collector. Apex and Collector are also divided into different classes.
Each categorie with its class is bound to different conditions in order for its issuance.
The value of the XENFT will be determined by both its utility and its rarity (category and class) properties.
Metadata art is a very important manifestation of the XENFT value, therefore all token categories and classes will bear distinct art capturing various aspects of the XENFT value.
Apex is the top tier of the XEN Torrent hierarchy. The issuance is limited to 10,000 in total, divided into 5 different rarity classes.
Conditions:
Total Supply of issued Apex XEN Torrent XENFTs is less or equal to 10,000,
Count of VMUs in the bulk XEN mint is 100 or more,
User is in possession and is willing to burn XEN tokens for the privilege to mint one of the Apex XENFTs
Amount of XEN tokens to be burned for the Apex XENFT determines the rarity class (inside the Apex category), each of which has its own limits of issued tokens:
The burn amount required will be different for each network XEN torrent is deployed on.
Note the token IDs here. For each XENFT user will see this ID number and can then easily verify what class it belongs to. With Apex user have to weigh the value of burning XEN, however much is required, in relation to the value of the rarity and potential future utility of the Apex XENFT.
Limited category, unlike the Apex category, is not limited by the number of tokens issued but rather is limited by time.
Conditions:
Time of Limited XENFT issuance is 365 days (31,536,000 seconds) since the moment of XEN Torrent smart contract deployment (which is captured by the `genesisTs` immutable variable),
Count of VMUs in the bulk XEN mint is 100 or more, for the Ethereum network
User is in possession and is willing to burn XEN tokens for the privilege to mint one of the Limited XENFTs.
Token IDs for Limited XENFTs share the same counter with Collector XENFTs (token IDs start at 10,001).
With a limited XENFT user have to weigh the value of time rarity, due to the fact that you can only mint them for 365 days, after which it will be impossible. This in addition to the burning of users XEN as well.
There is no limit to how many Limited XENFTs each user can hold and you can hold multiple per wallet address.
XENFTs of this category can be minted free by anyone, at any time, any number of times.
There is no burning required for the collector XENFTs and user can choose as low as 1 VMU.
In order to make Collector XENFTs ‘less common’ and introduce additional game theory spirit for all XENFTs owners, XEN Torrent Common tokens are also divided into classes. In this case the qualifying parameter is XENFT’s `power` which is computed as: number of VMUs times XEN minting term expressed in days.
𝙿𝚘𝚠𝚎𝚛= |𝚅𝙼𝚄| * 𝚝𝚎𝚛𝚖
Classes of Collector XENFTs are defined as:
𝙲𝚒= ⌊𝙿𝚘𝚠𝚎𝚛/𝟽𝟻𝟶𝟶⌋
The table below breaks down the 8 different Collector classes with their individual names and power intervals.
Class | Name | Amount | Token IDs | XEN burn required |
---|---|---|---|---|
Class | Name | Power |
---|---|---|
1
Xunicorn
100
1...100
tba
2
Exotic
900
101…1,000
tba
3
Legendary
2,000
1,001…3,000
tba
4
Epic
3,000
3,001…6,000
tba
5
Rare
4,000
6,001…10,000
tba
Total
10,000
0
Ruby
1…7,500
1
Opal
7,501…15,000
2
Topaz
15,001…22,500
3
Emerald
22,501…30,000
4
Aquamarine
30,001…37,500
5
Sapphire
37,501…45,000
6
Amethyst
45,001…52,500
7
Xenturion
52,501…
XEN Torrent enables easier management and faster execution of multiple minting addresses. The handling of multiple addresses is more secure since multiple cRank claims can be stored in one address connected to one hardware wallet.
XEN Torrent enables unlocking of the waiting economic energy and makes it instantly tradable through the XENFT.
XEN Torrent brings utility for the XEN token and fosters adoption for the XEN project.
A: XEN token’s value is pegged to the difference between world’s inflation vs built-in distribution of the tokens. In short, the value of XEN is linked to its difficulty to be minted, which is very similar to Bitcoin. Ultimately, the value is created by the market forces of all participating parties. As more market participants get involved in generating XEN, the total amount of generated XEN drops (disinflation) and is distributed between participants making XEN more scarce and valuable. The only way to mint more XEN in the future will be by extending the time one has to wait to receive the mint.
There are a few different reasons for this. 1. Early adopters need to be incentivized to grow the network. 2. Early adopters are marketing the network and should be rewarded for the work they do. 3. Later adopters will reap the benefits from the early adopters who put in the work to make it happen. 4. XEN will not max cap its supply like Bitcoin. Only big miners with a lot of resources have the option to mine BTC today. In 8 years, we can allow the opportunity for anyone, anywhere, for example, in any developing country, to mine XEN tokens, thus giving that person the opportunity to learn about Crypto 1st principles while teaching themselves how to become self-sovereign. All they need is a cellphone and internet. It should be noted that, for example, in Africa, tens of millions of people do have cellphones already with internet but do not have bank accounts. XEN offers an easy solution to this dilemma and may assist them on a self-sovereign path to financial freedom.
A: XEN strives for maximal adoption. Ethereum was chosen as the main chain for a multitude of reasons. Ethereum has the biggest network, highest engagement, biggest number of wallets, biggest sandbox for developers to develop, biggest developer community. It can also be argued that Ethereum has the highest difficulty due to higher gas costs, which is beneficial since it resists spam. Further XEN shares values with Ethereum such as decentralization and open-source. We are not unaware, however, of the many challenges Ethereum is facing.
A: XEN's goal is maximal adoption. XEN therefore cannot limit its growth to only one chain. XEN aims to be inclusive, so listing to only one chain would be counterintuitive, making the ecosystem exclusive. Choosing one chain means limiting our market. This is also a reason why XEN should not build its own blockchain. This does, however, bring many challenges including topics such as - safety, strategy, technicals, values and community. Values - even though every chain does not align with XEN when it comes to 1st principles of Crypto, we believe XEN can introduce the values of 1st principles to that chain more so than if XEN chose exclusivity. XEN can be the messenger of fairness and Crypto 1st principles to be explored in their respective communities, instead of siloing our message. Safety - if XEN is not represented on a chain, someone could create a copy of XEN, call it XEN but then choose not live up to the same principles as XEN. We’ve seen this happen many times with other projects which has led to high confusion and deceit. Strategy - XEN has to be strategically adopted to other chains in order to maximize adoption in the most optimal way. Technical - the cost of mining XEN on different chains varies. Therefore, the value of XEN on each chain will vary. Since XEN is free (plus gas+time) to mint, then the variation of gas cost will have a huge impact on the cost of mining 1 XEN depending on which chain you are on. One has to factor in utility, size of the network, liquidity and number of participants as well. Community - XEN aims to unite the many siloed communities within blockchain and highlight the shared values and pursuit of common goals over alienation and exclusivity.
A: Yes. After you've claimed your mint of XEN once, you can use the same address to claim another cRank. You won't be able to add the new XEN tokens later to an existing on-going stake however, so you will have to either EES for that initial stake, or send the newly minted XEN tokens to another address and stake from there.
A: No. When you claim your cRank at the first step, you also choose your T. Let's say you choose 10 days. These two variables are bundled into the same transaction which you then sign. You now have to wait 10 days and come back to the website. During this time, the mintTerm limits will have increased according to the mintTermLimit formula. However, this doesn't matter for your agreement with the protocol. Even though you may want to extend your T, it is not possible. This is not what you agreed upon. You agreed upon what was possible at the time as you claimed your cRank.
A: Never. XEN is a onboarding tool where new people now and in the future can enter blockchain without the barrier of having to transfer any other kind of value, part from gas. Minting XEN will become increasingly more difficult with time and adoption. The supply follows a logarithmic curve.
If you value XEN today and don't want to wait for the maturity date, you might consider buying it instead in a liquidity pool on a DEX. You are then basically buying someone else's work in terms of the time they waited for their maturity date to mint. You are buying their time. XEN is time. Please be aware that the supply of XEN follows a highly inflationary supply emission through minting. The supply velocity becomes disinflationary with time and adoption. This means that one will be able to mint substantially more tokens today than in the future. After 8 years, minting will be very difficult and the inflation will decrease to 0.01-1% for all.
No. The chosen mintterm is locked in and cannot be adjusted.
A: Nothing. Each address will have to pay gas to both claim cRank and also mint. Furthermore, each address will have to pay gas in order to later sell their XEN tokens. When you sell XEN tokens, you may want to reimburse the original gas costs of claiming and minting. Likely, one would not sell their XEN for less than the summarized gas costs. This would create positive price pressure which would increase the value of XEN for everyone. The value of XEN at genesis is 0, with 0 supply. If someone is paying for gas it means they make the judgement that XEN has value. You can easily predict gas cost when you claim cRank but not as easily what it will be when it is time for your mint. In fact, the further away you choose your maturity date (which you're incentivized to do), the harder it will get to predict gas costs, unless you intentionally pick a date that falls on a future Sunday, when gas prices are low. Further, since claiming cRank increases mint rewards for everyone by advancing the globalRank, the value of everyone's mint will increase as well. XEN is free. Minting XEN is not free. Time and gas has value. Minting from 1,000 wallets amplifies mints for everyone. Read more on this topic here.
XEN is using logarithm base 2 to smooth out the rewards based on the difference between global rank and cRank. XEN has already foreseen bot attacks and built in a counter measure. A bot attack is actually healthy for the protocol. If you were to build a bot - how many transactions would you run? Probably not more than 1,000 for example. You will have to pay 5 USD/tx. You will immediately burn 5,000 USD on gas. That's assuming you're not over-driving the Ethereum network and your gas remains relatively constant. What does that do for you and the rest of the users? For the rest of the users, it will amplify everyone's mint.
Let's say there are a million people within the system. Then, another one million people have the chance to mint. So, you as a bot will end up diluting yourself. As a bot, you pay for the gas, let's say $5,000 USD. But you effectively pass on the amplification to the rest of the community. So, the community will always be larger than any bot out there and the bot will always be limited to any number of gas they want to spend.
So the bot will pay for everyone's gas and give everyone free XEN. If you write a bot, you're actually helping the community. The protocol on Ethereum, for example, will take your gas and say thank you. Basically, only a few bad actors will create bots, but it will be the community that benefits.
The diluted pressure will always discourage bots, and come up with some reasonable number and not millions of addresses. Are you really ready to pay 5M USD? Ethereum will not let you. Currently Ethereum is running at 15 tx/s. Anything above that is going to ask you for more money. So are you willing to be the #1 spender of gas? It's not going to be 5 million dollars for 1 million addresses - it will more likely be $50 million very quickly.
A: You will not lose your staked XEN, but you will lose you APY, no matter how long your stake has been.
A: No. Your APY will be generated up until the agreed term. And there is no penalty for unstaking late.
A: No.
A: Yes. You can for example buy XEN and then stake it.
A: Gas cost: single claim is 180,000 gas limit as usual. 100 VMU = 180.000 x 100 = 18M gas limit. Claim mint = 90.000 x 100 = 9M gas limit. It’s same gas cost as for “vanilla” cRank. Same math.
Some exact gas limit numbers:
18,344,502 to generate Rare XENFT with 100 VMU 18,311,424 to generate Limited XENFT with 100 VMU 18,303,735 to generate Ordinary XENFT with 100 VMU
A: No. Amount of contract code only affect gas during the contract deployment. Not for tx execution. Contract code is not stored on chain. It’s the amount of data that you write and read on chain that determines gas. The svg doesn’t consume gas. It’s not written on the blockchain. It's not linked to any claim / mint transaction at all. We generate it from params using contract code. It’s a read function. Our svg generation is basically contract code. It uses data stored on chain. The data that is stored on chain is 64 bytes/nft. (2 slots of unit256). In addition to standard ERC721 data stored. So, lines of code won't affect the resulting data structures, which drives gas higher.
A: Yes. Since they are fungible you only store amounts. With NFTs you need to store more than that. Recording ownership of unique items.
Ticker
XEN
Contract address (XEN)
XEN Torrent (XENT)
XEN Stake (XENS)
Native gas token
ETH
Block explorer
Whitepaper
Website
Gastracker
Top tx
Analytics
Pools
Price chart
DEX
Ticker
bXEN
Contract address (bXEN)
XEN Torrent (bXENT)
XEN Stake (bXENS)
Native gas token
BNB
Block explorer
Whitepaper
Webiste
Gastracker
Top tx
Analytics
Pools
Price chart
DEX
Ticker
mXEN
Contract address (mXEN)
XEN Torrent (mXENT)
XEN Stake (mXENS)
Native gas token
MATIC
Whitepaper
Website
Block explorer
Gastracker
Charts
Analytics
Pools
Price chart
DEX
Disclaimer: this info is not verified. Use at own risk.
Ticker
aXEN
Contract address (aXEN)
XEN Torrent (aXENT)
XEN Stake (aXENS)
Native gas token
AVAX
Whitepaper
Website
Block explorer
Gastracker
Top tx
Analytics
Pools
Price chart
DEX
Ticker | vvXEN |
Contract address (vvXEN) |
XEN Torrent (vvXENT) |
XEN Stake (vvXENS) |
Native gas token | ETHW |
Whitepaper |
Website |
Block explorer |
Gastracker |
Top tx | ... |
Analytics |
Pools | ... |
Price chart |
DEX |
(offical but just for fun lol)
Ticker | mbXEN |
Contract address (mbXEN) |
XEN Torrent (mbXENT) |
XEN Stake (mbXENS) |
Native gas token | GLMR |
Whitepaper |
Website |
Block explorer |
Gastracker |
Top tx |
Analytics |
Pools |
Price chart |
DEX |
Ticker
coXEN
Contract address (coXEN)
XEN Torrent (coXENT)
XEN Stake (coXENS)
Native gas token
Evmos
Whitepaper
Website
Block explorer
Gastracker
...
Top tx
Analytics
...
Pools
Price chart
DEX
Disclaimer: this info is not verified. Use at own risk.
DEX ROUTE
How to swap ETH for wDOGE to pay for Dogechain gas fees.
(be aware that bridge may have limited liquidity or excessive traffic at any given time)
1. Add DogeChain RPC in Metamask by visiting Chainlist.org and clicking add to metamask on DogeChain option.
2. Go to Bridge.dogechain.dog and connect the wallet where you want to receive your DOGE(Make sure you're metamask is set on dogechain RPC). 3. Scroll down to wide green button to 'Reveal address to send dogecoin to' and copy the supplied address.
4. Go to Changenow.io and select to swap from ETH to DogeCoin (Make sure to purchase a minimum of 100 DogeCoin, it is the minimum requirement to use the bridge)
5. Now paste the bridge address you got from the bridge.dogechain.dog green button as the recipient's address in the Changenow.io supplied edit box.
6. Be patient and wait for it to cross bridge and land into your Metamask as wDOGE/DOGE gas.(Could appear as both).
CEX ROUTE
1. Add DogeChain RPC in Metamask by visiting Chainlist.org and clicking add to metamask on DogeChain option.
2. Buy DOGE on CEX
3. https://bridge.dogechain.dog/bridge - DOGE > wDOGE
How to use Dodgechain bridge:
Ticker
fmXEN
Contract address (fmXEN)
XEN Torrent (fmXENT)
XEN Stake (fmXENS)
Native gas token
FTM
Whitepaper
Website
Block explorer
Gastracker
Top tx
Analytics
...
Pools
Price chart
DEX
Ticker | dcXEN |
Contract address |
Native gas token | wDOGE |
Whitepaper |
Website |
Block explorer |
Gastracker |
Top tx |
Analytics | ... |
Pools |
Price chart |
DEX |
Disclaimer: this info is not verified. Use at own risk.
Where can I buy OKT? You can purchase OKT on any DEX that supports OKC. Here’s a list: CherrySwap.net JSwap.Finance IslandSwap BXH.com KSwap.Finance O3Swap.com AISwap.io PandaEX.org Elk.Finance KingSwap.pro MySwap.vip CocoSwap.com Sushi.com KYSwap.org BoneSwap.Finance KiSwap.club OK.SakeSwap.Fi DFYN.Network PPXSwap.com DODOex.io Spookyswap.Finance DEX.xPhoenix.Club HotPot.Cool Bogged.Finance BitkeepSwap
Ticker
okXEN
Contract address
0x1cC4D981e897A3D2E7785093A648c0a75fAd0453
Native gas token
OKT
Whitepaper
Website
Block explorer
Gastracker
...
Top tx
...
Analytics
...
Pools
Price chart
DEX
See list below
Ticker | XEN |
Contract address (pXEN) |
XEN Torrent (pXENT) |
XEN Stake (pXENS) |
Native gas token | PLS |
Block explorer |
Whitepaper | ... |
Website |
Gastracker | missing data |
Top tx | missing data |
Analytics | missing data |
Pools | ... |
Price chart |
DEX |
Disclaimer: this info is not verified. Use at own risk.
How to interact with XEN protocols TESTNET
Ticker
cbXEN
Contract address (cbXEN)
XEN Torrent (cbXENT)
XEN Stake (cbXENS)
Native gas token
bridged ETH
Block explorer
Whitepaper
Website
Gastracker
Top tx
Analytics
Pools
Price chart
DEX
- Make sure you're connected to Goerli testnet, NOT ethereum mainnet
- do NOT send real ETH to the contract or you will loose your gas fee
Whole process - HOW TO:
contract adress:
Network settings:
Network Name: PulseChain Testnet
New RPC URL: https://rpc.v2b.testnet.pulsechain.com
Chain ID: 941
Currency Symbol: tPLS
STEP 1. Install the Goerli testnet network in your Metamask (skip twitter stuff) STEP 2. Go to any goerli faucet and mint goerliETH: 1 minute will be enough.
STEP 3: Test it out:
Pulsechain testnet:
Block Explorer:
Pulsechain Faucet:
Pulsechain contract:
Testnet: https://testnet.xen.network/bsc-testnet
Faucet: https://testnet.binance.org/faucet-smart
Enter in the BSC testnet details as follows:
Network Name: BSC Testnet New RPC URL: https://data-seed-prebsc-1-s1.binance.org:8545 ChainID: 97 Symbol: BNB Block Explorer URL: https://testnet.bscscan.com/
Testnet: https://testnet.xen.network/mumbai
Network: Mumbai Testnet
RPC: https://rpc-mumbai.maticvigil.com/
Chain ID: 80001
Symbol: MATIC
Explorer: https://mumbai.polygonscan.com/
Facuet:
SERVER SPECIFICATION I AM USING
My Server is a hosted cloud virtual server. If you want to build your own server then you can but there will be extra requirements. All I list here is valid for hosted servers.
6 vCPU Cores
16 GB RAM
600 GB SSD
32 TB Traffic*Unlimited Incoming
Ubuntu 20.04
All instructions below are based on using Ubuntu. If you are using a different version of Linux then you may need to adjust the commands. All commands that need typing in are in red and you will need to press the enter button after each one.
One point to note is that validation or creation of new blocks isn't possible yet. There will be another version of this chain where people will be allowed to start block production
Putty is required for this as well so please use the instructions above for installing and using Putty.
First thing we need to do is install docker. I am not going to go deeply into what docker is and how to use it as I want to keep this simple but there are plenty of good resources online.
The Docker installation package available in the official Ubuntu repository may not be the latest version. To ensure we get the latest version, we’ll install Docker from the official Docker repository. To do that, we’ll add a new package source, add the GPG key from Docker to ensure the downloads are valid, and then install the package. All instructions assume that you have root access. If your user does not then you will need to add ‘sudo’ in front of them.
First, update your existing list of packages:
Next, install a few prerequisite packages which let apt
use packages over HTTPS:
Then add the GPG key for the official Docker repository to your system:
Add the Docker repository to APT sources:
This will also update our package database with the Docker packages from the newly added repo.
Make sure you are about to install from the Docker repo instead of the default Ubuntu repo:
You’ll see output like this, although the version number for Docker may be different:
Output of apt-cache policy docker-ce
Finally, install Docker:
Docker should now be installed, the daemon started, and the process enabled to start on boot. Check x
The output should be similar to the following, showing that the service is active and running:
Full credit for this package goes to Xen Community member bok11. He created this docker package so big thanks to him.
Run
This pulls down the docker package
Run
You will now see the X1 validator start up and begin to sync. Again, this took 18 hours for me so just let it do what it needs to.
You can check the status of the service with systemctl status x1-validator.service and stop it with systemctl stop x1-validator.services. To see the logs, run journalctl -u x1-validator.service -f
Here I list some useful docker commands. Please always do your research before using any of them if you are inexperienced with Docker. Google is a great resource. As of Docker 19, the complete list of available subcommands includes:
Additional notes
You will need to set the number of files Opera can use. This can be done with the command
You can check the number of open files with the command
where the 12298 is the PID of my Opera instance. You will need to change that for the PID of your particular instance. To get your PID run the command top and you will get something similar to below where you can see where I got my PID from.
swap space
It is also useful and advisable to have a swap file activated. A swap file allows Linux to simulate the disk space as RAM. When your system starts running out of RAM, it uses the swap space to and swaps some content of the RAM on to the disk space. This frees up the RAM to serve more important processes. When the RAM is free again, it swaps back the data from the disk. I have 16gb swap space set but you could just as easily use 32gb.
Before you go and start adding swap space, it would be a good idea to check whether you have swap space already available in your system.
If you don’t have a swap space on your system, it should show something like this:
The swapon command won’t show any output.
First thing first, create a file with the size of swap space you want. Let’s say that I want to add 16 GB of swap space to my system. Use the fallocate command to create a file of size 16 GB.
It is recommended to allow only root to read and write to the swap file. You’ll even see warning like “insecure permissions 0644, 0600 suggested” when you try to use this file for swap area.
Do note that the name of the swap file could be anything. If you need multiple swap spaces, you can give it any appropriate name like swap_file_1, swap_file_2 etc. It’s just a file with a predefined size.
Your need to tell the Linux system that this file will be used as swap space. You can do that with mkswap tool.
Now your system knows that the file swapfile can be used as swap space. But it is not done yet. You need to enable the swap file so that your system can start using this file as swap.
Now if you check the swap space, you should see that your Linux system recognizes and uses it as the swap area:
Whatever you have done so far is temporary. Reboot your system and all the changes will disappear.
You can make the changes permanent by adding the newly created swap file to /etc/fstab file.
It’s always a good idea to make a backup before you make any changes to the /etc/fstab file.
Now you can add the following line to the end of /etc/fstab file:
You can do it manually using a command line text editor or you just use the following command:
Now you have everything in place. Your swap file will be used even after you reboot your Linux system.
XEN Network:
XEN Community Telegram:
XEN Price Chat Telegram:
Discord:
Twitter:
Fair Crypto Foundation:
Github:
Jack Levin: , Xenducation:
Xencrypto.io:
XENsic?: (someone should build a XEN radio like this with ZEN tunes)
Install PuTTY from https://www.putty.org.
Open PuTTY on your computer and enter your server’s SSH IP and SSH Port.
Click the Open button to proceed.
Enter your SSH username and password when prompted. The screen won’t show the password but will register what you type. It is best to login with root access if possible.
You are now connected to your server via PuTTY. You can use commands to interact with your server.
It is sometimes useful to install ‘go’ as well if your server does not already have it installed. Mine did but it has been pointed out that other people did not have this.
Search for Go:
sudo apt search golang-go sudo apt search gccgo-go
Install Golang
sudo apt install golang-go
To start the install of Opera you first need to download the required files. Run the below command to do this.
You may get an error that says git command is not available. If you do then you can install it very easily. First update the package index by running
apt update
To install git then run
apt install -y git-all
You then need to go to the go-opera folder. Change directory by typing
cd go-opera
Create the Opera Binary by running:
make opera
Again, if you get an error saying make is not available you can install it by typing
apt install make
Once this is completed you can check it is there by typing the commands
cd build
ls
This will change directory to the build folder and then list everything in that folder.
Move the Opera binary to /usr/local/bin by running
Change directory to /usr/local/bin by running
Copy and paste the following. The easiest way to paste in Linux is just to right click where the cursor is.
Now, if you type tail -f opera.log you will see it is starting to sync. This took about 18 hours on my server but just leave it to do what it needs to do until it is finished.
Configuring your X1 Fastnet Validator Node
USE these instructions for either docker based set up or non-docker
XEN: for the Benefit and Prosperity of All Who Participate
The XEN community has been, and will be, an important and vital part in the shaping of the XEN protocol.
People from all over the world are openly and continuously collaborating in everything from the making of the XEN protocol, building the community, sharing ideas, strategies and knowledge, and taking the initiative to improve each others' lives as they teach the ethos of the 1st principles of Crypto.
XEN protocol fosters inclusivity and encourages education. We strive for the creation and sustained implementation of a value system that is more transparent and fair than any other network existing today.
XEN protocol belongs to the community.
XEN has been built by the people for the people.
If you believe in the 1st principles of Crypto and want to learn and/or get engaged in the XEN movement, start by joining our channels:
Telegram:
Twitter: