👀Project Overview
XEN Garbage Dump Project Introduction
GDXEN is an innovative blockchain project that introduces a new token economic model and distribution algorithm to promote deflation in XEN while introducing two new digital assets in the XEN ecosystem—GDXEN and XEC.
GDXEN is a token with a capped supply, and its only minting method is through burning XEN. Users participate in daily auctions to acquire GDXEN by burning XEN tokens and paying ETH protocol fees, while also meeting the XN airdrop eligibility. GDXEN's daily output follows a fixed decay rate in each round, which is 0.4%. This means that the output decreases slightly each day. Once users obtain GDXEN, they can stake it in the protocol to receive ETH protocol fees as rewards. It's worth noting that users also receive XEC immediately while participating in the XEN burning auction for GDXEN.
XEC is the project's second-generation token that users can obtain by burning specific tokens from the XEN ecosystem, such as XDOGE, FENIX, etc. These specific tokens are considered "garbage coins," and their burning not only contributes to the healthy development of the entire ecosystem but also provides users with an opportunity to acquire new tokens.
The project's founding team is passionate about fair launches, equitable distribution, just tokenomics, and community governance protocols, which inspired the creation of the GDXEN project. The goal of GDXEN is to provide an alternative to other burning tokens like XDOGE. It introduces a completely different reward system to provide passive income for GDXEN holders.
Furthermore, the GDXEN project introduces the concept of "health." Health is an important metric closely related to ETH rewards, and it gradually decreases as the time users spend on GDXEN auctions increases. The management of health relies on XEC, which also gives XEC unique demand and value.
Through its innovative token economic model and distribution algorithm, along with unique token design and reward mechanisms, the GDXEN project aims to create a fair, transparent, and community-driven blockchain ecosystem.
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