On the day of the Pulsechain launch, XEN Crypto emerged as a dynamic force, captivating an engaged community of Pulsicans. The aftermath has witnessed the development of several projects built on the pXEN token, aimed at mitigating the hyperinflating supply and providing users with lucrative PLS rewards.
Breaking the silence, Jack Levin, the visionary founder behind XEN, has just unveiled plans for the imminent distribution of XN on the forthcoming X1 chain. This revelation is poised to inject a new level of enthusiasm into the pXEN and PLS ecosystems, as the token is slated for combustion to secure an allocation.
As anticipation builds, industry insiders are closely monitoring the developments surrounding XEN Crypto, foreseeing a potential surge in activity as the community braces for the upcoming XN distribution and the ensuing token burn on the X1 chain.
What is pXEN
pXEN was the first new project launched on PulseChain, and it immediately gained a lot of attention from the PulseChain sacrificers, who had PLS before everyone else.
pXEN is a minting token with 8 years of distribution at a decreasing daily rate. The supply started at zero and is increasing as time passes. There’s no allocation to the founder, venture capital, or anyone else; the contract is immutable, and it exists on 13 chains (Pulsechain, Ethereum, Polygon, BSC, Avalanche, Fantom, Evmos, Ethereum PoW, Moonbeam, Optimism, Base, OKX, and Dogechain). It’s censorship-resistant, and by adhering to the first principles set in stone by Satoshi Nakamoto, it’s fair.
pXEN supply explained
The increasing supply of XEN was always subject to major criticism. XEN’s supply on Ethereum is currently at 58 trillion, and that of XEN on Fantom is at 795 trillion; on Polygon, it’s 744 trillion mXEN; and on Pulsechain, the supply equals 93 trillion pXEN. The reason for such a huge supply between Ethereum and other chains is the gas cost. It’s harder to mint XEN when gas is high. Gas is the limiting factor that regulates the distribution of XEN, which ties it strictly to the economy of the entire chain. It’s visible that in times of high gas prices, XEN miners activity decreases while it activates when gas prices fall. On Pulsechain, gas is very cheap.
Pulsechain has 3845 times cheaper transactions than Ethereum, and gas is not a major problem for pXEN minters; however, the mints of a maximum of 128 VMUs (Virtual Minting Units) occupy the entire block, burning the entire gas fee which is positive for PLS.
The multiplier in pXEN’s supply is diminishing daily for the next 3000 days from the start until it arrives at 1. That means that the minting formula makes the supply disinflationary.
With projects burning pXEN like DBXen, DBXENFTs, Fenix, JACK token, and the most-awaited X1 chain, the supply of pXEN may turn deflationary from one day to another. This happened already on Ethereum where a one-day burn of 1 trillion XEN worth $3,000,000 turned the XEN supply deflationary. It’s visible that turning a hyperinflationary token like XEN takes just one day and a project people want to burn for.
The amount of minting and burning of pXEN is driven entirely by the community and market forces rather than written in code or established by a foundation, like it is, for example, for the BNB coin or TRX. The users are the most important factor behind the supply creation or destruction; however, the disinflation is set in stone in the minting formula of the immutable code.
XN token distrubution
The recent announcement of the XN distribution for the X1 hybrid PoW/PoS blockchain is important for any network where XEN exists because the burning will involve all these chains, including Pulsechain. The users have been burning XEN since the early days of XENFTs and later on with DBXen and Fenix launches. Each XEN burn gives the user a part of the allocation of XN; however, the upcoming XN auctions will create even more demand for pXEN. The details are yet to be released, but it’s known that pXEN needs to be burned together with an additional PLS fee, which creates demand for PLS. Depending on the participation, this could have an important effect on PLS and pXEN prices, reducing their supply.
The upcoming XN token distribution will consist of:
- Moon parties, which are auctions where people can get a share in the daily XN allocation by creating a pXEN burn record
- XeNFT burns, where people will get XN based on their XeNFT original power.
We are currently working on #X1 $XN distribution game mechanics, which include:— ⓧ Cyphereus Prime 🟧🦇🟦 (@mrJackLevin) February 5, 2024
* Moon parties - 30
Day auctions where you compete for XN allocation with your $XEN burn records.
* XeNFT burns - Get $XN based on XeNFT original power.
We will release the testnet contract for the…
Projects burning pXEN
To this day, 4 billion PLS worth over $461,000 have been accrued as rewards for pXEN burners in the DBXen protocol other than the DXN token rewards.
XENFTs is the most popular pXEN batch minter, which also burns pXEN if used as Apex or Limited. In total, 1,902 Apex and Limited XENFTs were created, and 504,462 Collector XENFTs mint only pXEN. Additionally, there’s a protocol called DBXENFT where users can burn their XENFTs by paying an additional PLS fee on top. It’s difficult to say how much PLS was burned in total by pXEN minters, but it’s sure that the pXEN ecosystem creates a huge demand for the Pulsechain token.
It’s yet to be decided when the auctions start or the exact terms, but whether you participate or not, by using Apex or Limited XENFT, DBXen, DBXENFT, TGXEN, JACK token, or other burning protocols where you burn pXEN, you are automatically eligible for a share in the X1 chain. The first step though is to buy or to mint pXEN.