Press Release
X2Y2: A truly democratic decentralized NFT market, updated its tokenomics
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“Of the people, by the people, for the people”——Abraham Lincoln, Gettysburg Address, November 19, 1863
The decentralized crypto community is practicing the idea behind Abraham Lincoln’s idea.
As we know, the centralization problem in the NFT field is still serious. The transaction volume data shows that, the market is “monopolized” by several leading platforms such as OpenSea and LooksRare, resulting in high gas costs, low transaction efficiency, and forced delisting of NFT projects. In this case, X2Y2 is trying to challenge these pain points by providing more convenient functions and further improving the trading experience.
The functions and features of X2Y2
First of all, some actions on X2Y2 do not require paying gas fees, including NFT listing, making an offer, or lowering price. Moreover, X2Y2 shares transaction fees with users (the rate is also lower than OpenSea), in addition, account opening fees and listing fees are free, which greatly lowers the threshold; in terms of payment way, OpenSea only supports ETH, while X2Y2 supports mixed payment, royalties can be earned in real-time rather than waiting for a fixed period to settle.
Secondly, X2Y2 provides users with the most convenient NFT trading service in the market, and supports buying and selling an NFT with a fixed price. When buying, users only need to click “Buy Now” to connect the wallet to pay quickly; when selling, users only need to click the “Fixed Price” button when listing the NFT projects with setting the offer price and expiration date in the popup, and then complete the operation through approval and signature (the official website data shows that there are more than 120,000 NFT projects listed on X2Y2 currently). In the “Offer” column, users can see all the offers for the corresponding NFT clearly, then select the desired price and click “Accept” to complete the operation.
X2Y2 supports almost all mainstream wallets, including MetaMask, Coinbase Wallet, SafePal, MathWallet, imToken, Trust Wallet, etc. Users can connect the wallet through “Wallet Connect” on the mobile browser, or use the dApp browser inside the wallet app to access X2Y2. Make sure to select Ethereum network when connecting.
X2Y2 Tokenomics
X2Y2 is the native token which is listed on Uniswap.
In terms of tokenomics, the total supply of 1,000,000,000 X2Y2 tokens will be provided, 65% of which are used for staking reward, 12% for airdrops, 10% for development and teams, 10% for treasury and ecosystem, 1.5% for ILO presale and 1.5% for liquidity management. X2Y2 tokens are released according to the following schedule.
By staking X2Y2, you are able to earn market fee reward as well as X2Y2 token reward. Among the 65% of X2Y2 (650,000,000) tokens dedicated for staking rewards, a 20% of total (200,070,000) X2Y2 tokens are distributed to users who staked their X2Y2 tokens.
Among 1.5% share of X2Y2 total supply dedicated to Liquidity Management, 1% of total is used to bootstrap initial liquidity, and the remaining 5,000,000 (0.5%) X2Y2 tokens will be used to provide LP staking rewards.
Recently, X2Y2 announced the launch of Tokenomics 2.0, which will reduce transaction fees to 0 in the next month and return all gas fees to buyers to encourage the listing and trading of high-quality NFTs and reward platform users for their loyalty. Specifically, the platform will reduce the transaction fee to 0%, and will distribute 624,902 X2Y2 tokens to NFT sellers and buyers every day to subsidize the gas fee generated during transactions, which comes from the original NFT pending order reward, the pending order reward will stop when the latest plan is launched.
Conclusion
The vision of X2Y2 is to build a truly decentralized NFT market, which is designed to avoid many known issues of OpenSea, and give the value back to the community. X2Y2 will provide a full set of tools to help collection creators better serve the NFT whitelist minting and royalty management, and provides real-time royalty payment at the moment of sale.
Actually, the name X2Y2 comes from the formula of a perfect circle, there is no doubt that X2Y2 hopes to build a perfect decentralized NFT market, and this journey has just begun.
