β»οΈXEC
The role and function of XEC.
Last updated
The role and function of XEC.
Last updated
XEC (XECycle) is another core component of the XEN Garbage Dump project. It is primarily acquired through burning "garbage coins" such as XDOGE, FENIX, and burning XEN. Its main purpose is to maintain and enhance users' health, thereby increasing their ETH rewards.In addition, players who hold XEC can also participate in burning garbage tokens in Burn to earn and earn extra profits.
The design of XEC takes into consideration fairness and sustainability. The total supply of XEC is not fixed but dynamically adjusted. The generation of XEC depends entirely on user actions, specifically burning garbage tokens and burning XEN. During the burning process, a small portion of the recycling fee is collected by the garbage dump. This ensures that the supply of XEC matches market demand while also controlling excessive inflation, thus stabilizing the price of XEC. In the future, there might be proposals voted on by the DAO to add or remove types of garbage tokens that can be burned, affecting the total supply of XEC. This design allows for flexibility in adapting to market changes, enhancing the project's longevity and stability.
The burning mechanism of garbage tokens is at the core of the garbage dump project, determining which garbage tokens can be burned and how much XEC can be obtained for each burned garbage token. The types and proportions of garbage tokens are decided collaboratively by the garbage dump team and the DAO.
During the project's initial stages, the garbage dump team selects cryptocurrencies that are obviously worthless or already defunct as garbage tokens. These tokens have near-zero prices and no market demand. Users can obtain XEC by burning these tokens, thus giving new value to these garbage tokens.
During the project's operational stages, additional types of garbage tokens can continue to be added. These operations all require voting through garbage dump DAO proposals to ensure fairness and transparency. Through this method, the garbage dump project effectively cleans up the market from worthless tokens while creating a new cryptocurrency, XEC.
Where:
X is the amount of XEC obtained.
y is the quantity of burned garbage tokens.
a is a positive constant used to represent the base value of XEC obtained per burned garbage token. Different garbage tokens will have different corresponding values of "a".
B is the garbage collection fee required to obtain X units of XEC.
T is the threshold for additional XEC rewards. When B is greater than or equal to T, an extra 20% of XEC is given as a bonus.
Ethereum
0.006 eth
Binance
0.05 bnb
Polygon
20 matic
Avalanche
1.1 avax
Ethereum PoW
7.5 ethw
Moonbeam
45 glmr
Evmos
135 evmos
Fantom
50 ftm
Dogechain
125 doge
OKT
0.8 okt
PulseChain
223000pls
Optimism
0.006 eth
Base
0.006 eth
Burning XEN also allows users to obtain XEC. Therefore, while users acquire GDXEN through burning XEN, they are also accumulating XEC. This mechanism not only motivates users to participate more in burning XEN but also provides them with the opportunity to receive $XN airdrops in the future, increasing their earnings.
In the garbage coin list, there will always be XEN, and burning 1 XEN will yield 0.00000055 XEC.
The burning ratio for garbage coins other than XEN follows a rule: it uses the burning ratio of XEN as a reference. If the added garbage coin has value, then the cost of burning it to obtain XEC will certainly be lower than burning XEN. Conversely, if the added garbage coin is a worthless token, the burning ratio is determined by the number of the top 1000 holders as a reference.
After obtaining XEC, you must wait for the lockup period to end before you can claim it.
The initial lockup period is one day, and it increases by one day every 10 days, up to a maximum of 10 days.
Recycle Fee
The recycle fee serves not only as a source of income for our project but also as a means of community development.
We will use 30% of the recycle fee for the buyback of Xenπ₯, which will then be locked, increasing the scarcity and value of Xen, thus benefiting Xen holders. Simultaneously, this portion of the revenue will support our project's operations, new version development, event rewards, and more. This will enhance the quality and impact of our project, attracting more users and partners. We believe that through this approach, we can achieve a win-win and sustainable development for our project and community.
This is the original intention and goal behind our design of the recycle fee. We hope you can understand and support our decision.
Where:
F is the recycle fee required to produce one XEC.
M is the cost per XEC produced on the first day, with different values for different chains.
a is a constant equal to 1.06.
k is a constant equal to 1.
t is the time the project has been running (in days).
Ethereum
0.0002 eth
Binance
0.0015 bnb
Polygon
0.6 matic
Avalanche
0.035 avax
Ethereum PoW
0.24 ethw
Moonbeam
1.4 glmr
Evmos
4.35 evmos
Fantom
1.6 ftm
Dogechain
4 doge
OKT
0.025 okt
PulseChain
7240 pls
Optimism
0.0002 eth
Base
0.0002 eth
The use of XEC has two main purposes: first, to increase health by burning XEC, and second, to receive future $XN airdrops while obtaining XEC.
As the project progresses over time, the amount of XEC required to restore health will continuously increase. We have designed a non-linear formula for this purpose, making the cost of restoring health grow with the project's duration. This encourages users to plan and use their XEC wisely.
Where:
R is the amount of XEC needed to restore health.
t is the duration of the project in days.
e is a constant, equal to 1.07.
d is the percentage value to be restored, for example, 10%.
The acquisition and usage of XEC are entirely open and transparent. Users can check their XEC balance and usage records at any time. With this fair, transparent, and predictable token economics design, XEC aims to create a blockchain ecosystem driven by the community, providing value to all participants.
