XEN Crypto: A New Token That Burns ETH and Rewards Participation
XEN crypto. It’s like the new kid on the Ethereum block, and it’s turning heads because it’s quite the gas guzzler on the blockchain.
What’s unique about XEN is that anyone can create it, but they have to foot the bill for the gas. It’s like a free-for-all, but you’ve got to pay to play.
XEN is all about sticking to the core principles of crypto – you know, the stuff that makes crypto special. It’s big on decentralization, which means no big boss calling the shots. You’re in control of your own stash (self-custody), and everything is out in the open (transparency). Trust is built through agreement (consensus) among the users.
Here’s where it gets even more exciting – the XEN smart contract is like an unbreakable vault. It’s set in stone, no admin keys to open it, and it’s open source, so anyone can see how it works.
How to Mint XEN Crypto
Minting it is a piece of cake. All you need is a solid internet connection, a web browser, and a friendly web3 wallet like MetaMask.
Here’s the roadmap: head over to the xen.network website and connect to the XEN smart protocol. It’s like joining a secret club, but it’s open to everyone. The magic sauce here is that all the code for XEN is open-source and available on GitHub. Transparency at its finest.
Now, let’s talk numbers. The amount of XEN you can mint depends on two things. First, how many folks are in the game (participants). The more, the merrier – and the tougher it gets to mint XEN. It’s like a little challenge for everyone.
The second factor is the waiting game. You get to decide how long you want to wait before you receive your XEN tokens. The longer you’re patient, the more tokens you’ll have in your digital piggy bank. For example, if you mint 1 ETH worth of XEN and wait for just an hour, you’ll get 1000 XEN. But if you’ve got some extra patience and wait for a whole day (24 hours), you’ll snag a cool 24000 XEN.
How XEN Crypto Affects ETH Supply
et’s talk about XEN crypto and its interesting role in the world of Ethereum. Since its launch back on October 8th, 2022, XEN has been a big player, regularly showing up in the top 5 gas guzzlers on Etherscan. It’s like the heavyweight champ of gas usage.
But here’s where it gets intriguing. This high gas consumption is actually causing a ripple effect. It’s putting a dent in the emissions of ETH, which is Ethereum’s native currency. And right now, it’s making ETH a bit deflationary, which means there’s less of it floating around.
Here’s the secret sauce: After the London Fork, the Ethereum base fee is like a chameleon. It changes depending on how busy the network is, and it gets burned afterward. So, every time someone does something with XEN, it’s like a little fire burning ETH, taking it out of circulation.
According to ultrasound.money, the ETH supply change has dropped to less than 6000 tokens post-Merge, compared to over 300000 before the Merge – a total decline of more than 95%. However, low network activity during this bear market has proved that supply decline alone can’t make ETH deflationary, as seen by the upward trend until October 8 20222.
Where to Buy and Trade XEN Crypto
how can you get your hands on XEN crypto? Well, it’s not only free to mint, but it’s also available for trading on several cryptocurrency exchanges.
The crowd favorite is Bitget, where the XEN/USDT trading pair is buzzing with activity. In the last 24 hours, they’ve seen a trading volume of around $230,594. It’s like the crypto party you don’t want to miss.
But that’s not all. You’ve got some other cool options too. Places like Gate.io, BingX, and MEXC are in on the XEN action. They’re like the different clubs in town, each with its own vibe.
And if you’re feeling a bit adventurous, you can also hop on over to Uniswap or other decentralized exchanges. There, you can swap your XEN for other ERC20 tokens or NFTs. It’s like a digital marketplace where you can trade your digital treasures.
What’s even cooler is that you can be part of the action by creating liquidity pools and setting limit orders on these platforms. It’s like becoming your own little crypto entrepreneur.
XEN’s big goal? It’s all about getting as much action and attention as possible. They’re all about liquidity, making sure you can do whatever you want with your XEN. It’s all about getting the word out and getting more people into the XEN club.