XEN is the ticker symbol for a cryptocurrency called Xen Network imagined by Jack Levin from the Fair Crypto Foundation
It is a digital asset that is designed for the masses and built to deliver on the First Principles of Crypto:
XEN crypto introduces an innovative mining algorithm called Proof of Participation (PoP) where any user from the most used blockchains can participate for free in the network of course it's not entirely for free because there is this variable underlying gas costs associated with each transaction.
To spread adoption, XEN is designed to be inflationary at first, so the supply of XEN tokens increases over time because users can "Mint" XEN by paying only the gas fees from the underlying blockchain. The XEN crypto will become more scarce later in approximately 4-8 years similarly to Bitcoin mining difficulty, indeed XEN’s supply is estimated to reach close to 550 Trillion tokens by Dec 2030 . There are several cryptocurrencies in the top 100 crypto market cap with a similarly large supply, the most famous is of course Shiba Inu with 549 Trillion SHIB tokens.
The XEN Staking mechanism is relatively simple: XEN Staking APY started at 20% at XEN Genesis time (October 2022) and decreases by 1 percentage point every 90 days until it reaches 2%. Once an user have certain amount of XEN tokens in is own crypto wallet, staking can be done through the official xen.network website or via centralized exchange like Bitrue.
With XeNFTs the project integrate a Scarcity that required people to burn a large amount of XEN to mint
the set of 10 000 Official NFTs. The total burning of all the NFT minting will reduce the current
circulating supply by half!
By adding Penality on the minting, people must be on time to claim the minting they planned many days before else the token will be burned.
Xen Network has been designed by Jack Levin from the Fair Crypto Foundation. He is a software engineer and was an early Google Engineer between 1999 and 2005. He also founded other famous startups between 2005 and 2020 such as Imageshack and Imagizer
We are not affiliated with the XEN crypto so this website is not an official XEN Website. It is a community website similar to the other community websites you can find above.