Xen Crypto Burned over 1150 ETH in 9 hours | What is Xen Crypto?

The XEN Crypto contract has used over 1,011 ETH in GAS costs in just 24 hours, making it the highest consumer of gas. The project uses 22,91% of Ethereum’s total GAS allocation.

On October 9, the XEN Crypto contract used 22,91 percent of the Ethereum network’s GAS, consuming 1,106 ETH in the last 24 hours, according to data from Etherscan, which makes many people question, what exactly is XEN Crypto that can be used for a day A popular project? In this article you will find the answer.

What is XEN Crypto?

The XEN Crypto contract has used over 1,011 ETH in GAS costs in just 24 hours, making it the highest consumer of gas. The project uses 22,91% of Ethereum’s total GAS allocation.

#XENCrypto – just crossed 100,000 Wallets participation in this fair crypto launch… pic.twitter.com/0fucL6yXoJ

— Jack Levin 🟧🦇🟦 (@mrJackLevin) October 9, 2022

On October 9, the XEN Crypto contract used 22,91 percent of the Ethereum network’s GAS, consuming 1,106 ETH in the last 24 hours, according to data from Etherscan. The XEN coin allows users the flexibility to generate and change economic energy, and the XEN Crypto project is a community-driven initiative to spread this message.

More than 120,000 addresses have joined the project, which uses the Proof of Participation mining technique and claims to have been founded by Google employee number 21 Jack Levin.

Jack Levin is well-known in the IT world as a serial entrepreneur who has created a number of successful firms and played a critical part in the development of Google’s original infrastructure. and act as a benevolent financier.

How to Get XEN Crypto?

Mining on the official “XEN” website is the same as participating in “mining.” AMP * t * log2(dR) * (1 + EAA (cRu) is the formula for calculating the “XEN” portion of each address.

AMP

The coefficient begins with a value of 3000, declines by 1 every day, and remains unaltered when it reaches 1 value.

EEA

Reward coefficient for early participation. The initial value is 10%, and cRank reduces linearly by 0.1% for each rise of 100,000 in cRank.

cRank

Casting on the “XEN” official website will receive a cRank (Crypto Rank). cRank identifies which addresses are generated by “XEN.” For instance, a cRank of 5000 indicates the 5000th miner of “XEN” out of a total of 4999 miners.

“dR” refers to the difference between the total value of cRank and your own cRank in the formula. In other words, the lower the cRank value and the earlier the casting, the bigger the “XEN” share that can be earned. The only way for later miners to acquire a larger share is through a longer “lock-up time.”

lock-in period

Identical to the “t” in the formula. The longer the “lock-up period,” the more “XEN” can be acquired. You will be prompted to set a “lock-up period” while minting “XEN” (mintTerm). Currently, the minimum “lock-up period” that may be set is one day and the longest is three hundred sixty days. The maximum “lock-up period” will increase in accordance with the calculation until it reaches 550 days as the number of users increases.

Reward and Penalty

Reward

Every 90 days, the APY on pledged “XEN” will decline by 1%. Beginning annual percentage yield is 20% and never changes, even when APY lowers to 2%.

Once a pledge period of 1–1000 days has been specified, the APY will not change. At any moment throughout the pledge period, the user may withdraw the pledge and receive a full refund of all pledged shares. However, the user will not receive any pledge incentive for canceling the pledge early. In other words, the higher the APY and for a longer time frame, the earlier the pledge is made and the longer the chosen pledge duration.

Penalty

If the “lock-up period” expires without “XEN” being claimed, the share will be reduced: Any delay in claiming “XEN” will result in a bigger loss. New 7-day late penalty of 99%.

Conclusion

A fresh experiment that gets back to “the fundamental objective of the blockchain” and “lowers the entry barrier,” as it is put in the white paper, is what “XEN” presents itself as. The “XEN” tokens moving around on DEX are like trading your time for mined XEN.

In other words, do you think the experiment will work? The secret behind “XEN” and the answer will be revealed in due time.