What is XEN

1. Project Introduction

1. What Is XEN?
XEN is a community-driven cryptocurrency launched in 2022 by the Fair Crypto Foundation. Built on the Ethereum ERC-20 standard, it aims for a fully decentralized, fair launch via a Proof of Participation (PoP) mechanism. Its core mission is to eliminate pre-mining and whale dominance issues in the traditional crypto space. By adopting an open model with zero initial supply and no team allocation, XEN strives to create a truly community-built digital asset. What makes XEN unique is that it allows users to mint tokens for free and dynamically adjusts rewards based on time commitments and network participation, thereby encouraging mass adoption. Since its launch in 2022, $XEN quickly became one of the top gas consumers on Ethereum and reached over one million minting addresses in just a few days. Since then, the project has continued to grow, launching various ecosystem initiatives and supporting multiple blockchains. It now enables minting on over ten different blockchains.

2. How Does XEN Work?
Rooted in game theory, $XEN's reward system is a relatively fair launching mechanism with zero minting costs. Users can start minting simply by connecting an Ethereum wallet, with no need to deposit funds upfront.
Dynamic Reward Formula: Rewards are calculated based on global rank differential (LOG₂(global rank – user rank)), number of waiting days (T), and decay factors (AMP/EAA), as follows:
Ru = log2(cRG − cRu) * T * AMP * (1 + EAA). However, since the output function is logarithmic, the more participants join, the harder it becomes to mint additional XEN.
Other mechanisms: Rewards that remain unclaimed beyond the deadline will be subject to a progressive burn penalty, with the penalty rate reaching up to 99% after 7 days.

3. Core Team & Funding
Core Team: The project was initiated by Jack Levin. According to X, he is the founder of the image hosting platform ImageShack and an expert in blockchain protocol design. He claims to be Google's 21st employee. As an infrastructure engineer, he built Google's first cloud system and helped establish its first six data centers. Levin is also an angel investor. However, Jack Levin's background has come under scrutiny, and some people suspect that his Google background is fabricated or that his social identity may have been misappropriated. The rest of the team remains undisclosed, and the project party insists on the principle of decentralization, that is, “code is law”.
Funding: XEN launched in 2022 through a fair launch with no private sales or pre-mining.

4. XEN Tokenomics
Token Model: XEN had zero initial supply, and all tokens are minted by users. It follows an unlimited supply model, with its token supply uncapped. However, as more users participate, minting difficulty increases logarithmically, creating natural deflation. There are no fixed block rewards, and distribution is dynamically governed by PoP. It adopts a deflationary mechanism: Tokens staked are temporarily burned and re-minted upon redemption based on the APY, keeping net inflation near zero.
Token Distribution: 100% of minting rewards are distributed based on users' ranking and time committed. The staking APY starts at 20% and decreases annually to 2% to maintain low inflation over the long term. XEN can be burned in specific scenarios. Minting rare XENFT series needs to burn XEN, and a portion of the transaction tax revenue is allocated to liquidity pools.

5. Timeline of Key Milestones
Ecosystem Expansion: In 2023, the XENFT protocol was launched, with liquidity support from decentralized exchanges. It enables third parties to burn XEN in exchange for compliant assets, exploring connections with traditional finance. Currently, XEN is deeply integrated with DEXs like Uniswap, supporting liquidity mining and NFT trading.
Long-term Vision: XEN aims to expand into digital art, gaming assets, and other sectors via the XENFT protocol, ultimately building a cross-chain value network.​

2. Team & Investment Info

3. Social Media URLs

4. Token Info

5. Related Links