Gas-free trading and Meta accounts, multiple innovative features empower breaking through barriers, and list the expected market value of $XION

As a utility token driving the Proof of Abstraction ecosystem, $XION has a total supply of 200,000,000 tokens, with an initial circulating supply of 25,559,333 tokens.

$XION aligns the interests of network participants through the following mechanisms to achieve sustainable development of the ecosystem:

Staking: Allows network participants to support cyber security by staking tokens while receiving rewards.

Fees: Used to pay for transaction fees and other network functions.

Governance: Empowering token holders to participate in network decision-making, including protocol updates and governance proposal voting.

Cross-Chain Fee Settlement: Supports value transfer and settlement between multiple chains.

Collateral & Liquidity: Used as the basis for network functionality and liquidity support.

These mechanisms jointly support the decentralization and long-term stable development of the network.

The distribution strategy of $XION tokens focuses on the growth and sustainability of the ecosystem, with most tokens allocated to the community, ecosystem, and protocol development. The specific distribution is as follows:

Strategic Backers: 27%

Used to reward early investors and strategic supporters, ensuring resource security for ecosystem construction.

Ecosystem Incentives & Incubation: 23%

Inspire network participants while supporting new project incubation, promoting the expansion and innovation of the ecosystem.

Core Team: 20%

Allocate to the core contributing team to reward their continued contributions to protocol development.

Protocol & Foundation: 15%

Support the long-term development, maintenance, and related foundation activities of the agreement.

Community and Launch: 15%

Provide funding for community activities, marketing, and project startups to increase token user coverage and Network Effect.

In order to ensure cyber security, strategic supporters can stake locked tokens to participate in consensus mechanisms and support network stability. Unlike projects such as Celestia and Aptos, the staking reward of $XION will be locked, which means that the staked reward cannot be circulated or transferred for a certain period of time, further enhancing network security.

At the same time, in order to maintain fairness and decentralization, the core contribution team cannot pledge locked tokens. This policy ensures that the team's influence on the token market is limited, further enhancing the stability of the token economy.

 

Team part

The team is composed of founder and CEO Banksy and head of growth Prajwal Yadav.

Financing component

Since its establishment in 2021, the project has gone through multiple rounds of financing.

May 2021 seed round, raised $3 million, backed by investors including Injective, Multicoin Capital, Mechanism Capital, Tribe Capital, Solana Foundation, and Alameda Research.

In January 2022, we raised a total of $8 million in Series A financing from well-known institutions such as Animoca Brands, Multicoin Capital, Mechanism Capital, Alliance DAO, DeFiance Capital, Spartan Group, and HashKey Capital.

Strategic financing in October 2023, specific amount undisclosed, exclusively invested by Circle Ventures.

In addition, in the financing in April 2021, the project received $25 million in funding support from well-known institutions such as Multicoin Capital, Animoca Brands, Arrington Capital, Sfermion, Spartan Group, and Kucoin Ventures.

The financing process shows that the project has attracted strong support from multiple rounds of strategic capital, laying the foundation for its development in the industry.

 

1. The core innovation of XION lies in its "general abstraction layer", which aims to simplify the operation of blockchain and allow ordinary users to use it without mastering complex encryption technologies. However, the complexity of this abstraction layer itself may also bring problems in Technology Implementation. For example, there may be potential vulnerabilities in the abstraction process, especially in user data, wallet signatures, cross-chain transactions, etc. If these abstractions are not fully tested or optimized, it may lead to data leakage or asset loss.

2. XION introduced a mechanism for pricing and trading fiat currencies, with the aim of keeping users away from the volatility of the crypto market and providing a more intuitive and familiar payment experience. However, this also means that the project needs to rely on stable fiat currency payment channels (such as stablecoins like USDC). If the fiat currency market encounters volatility or related policy changes (such as strengthening stablecoin regulation), XION's pricing mechanism may face adjustments, affecting its market acceptance.

 

Website：https://xion.burnt.com/

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