What Is XEN?

XEN Crypto is a social mining project. The XEN token is the native cryptocurrency of the XEN Crypto, focused on building a community of like-minded individuals. XEN maintains transparency by using the ERC20 token standard and a streamlined codebase. Removing pre-minting, admin keys, and origin (OA) wallets ensures equitable treatment of all participants in the XEN ecosystem. Any users can mint XEN tokens on Ethereum using compatible wallets.

Also, XEN is categorized as a Proof-of-Participation (PoP) cryptocurrency and is different from Proof-of-Stake (PoS) or Proof-of-Work (PoW) tokens. Ownership rights are granted to those who participate in the creation of XEN and hold their coins through self-custody.

After the Ethereum Merge, at one point, XEN used nearly 50% of Ethereum's block size, dominating the burn leaderboard and causing a rise in ETH gas prices. Since it launched on October 8, XEN caused a decline in ETH supply for a period of time.

Who Are the Founders of XEN?

The XEN token was designed by the Fair Crypto Foundation and launched in October 2022. Jack Levin, supposedly a former Google executive, is the creator of the XEN Crypto.

What Makes XEN Unique?

XEN provides users with similar functionality to an ERC20 token, allowing them to trade other cryptocurrencies and NFTs. In addition, users can connect to the Uniswap ecosystem to create liquidity pools and limit orders. XEN's ultimate objective is to achieve maximum liquidity by promoting widespread adoption.

The tokenomics of XEN are disinflationary due to the naturally sloping adoption curve, which follows a logarithmic pattern, making it increasingly difficult to mint more tokens as more participants join. Although XEN does not have a cap, the growing difficulty of generating additional tokens ensures that its tokenomics remain disinflationary.

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How Many XEN Coins Are There in Circulation?

The supply of XEN is created solely through the minting of coins by individuals participating in the Proof-of-Participation (PoP) protocol, with no initial supply of coins available for the cryptocurrency. The circulating supply is not available as well.

How Is XEN Secured?

XEN operates on the Ethereum blockchain as an ERC-20 token, secured through Proof-of-Stake — the Ethereum network’s consensus mechanism after the Merge. This mechanism uses validators to confirm transactions, and validators stake 32 ETH to participate in consensus and validating transactions.

XEN is also available on other chains like BNB Smart Chain, Polygon, Avalanche and more.

Where Can You Buy XEN?

As of April 2023, XEN is listed on numerous cryptocurrency exchanges, including Uniswap, Huobi and MEXC. The top exchanges to trade XEN are Uniswap v2, Uniswap v3 (Ethereum), and PancakeSwap v2.

Want to keep track of XEN prices live? Download the CMC mobile app.