XEN Crypto, a trailblazing force in the blockchain industry, marks another significant milestone in its journey by expanding its presence to the 12th network, Base. This strategic move underscores XEN Crypto’s commitment to unlocking new horizons and fostering adoption. Fenix and DBXen protocols have been launched as well in preparation for the XEN burn set to start the next day. The simultaneous launch of minting and burning contracts introduces new game mechanics that are set to heavily influence user behaviour and the price of cbXEN.
XEN launch on Base
Jack Levin, the founder of XEN, opened XEN to Coinbase’s public on August 25th, adding the Base network to its rooster made of Ethereum, BSC, Polygon, Avalanche, Evmos, Moonbeam, Fantom, PulseChain, Ethereum PoW, OKX chain, and Dogechain.
The integration with Base is set to further amplify XEN’s reach and community-driven ethos of first principles. Forging new connections in pursuit of mass adoption and decentralised growth to increase its censorship resistance is what XEN has mastered within 10 months since its first launch on Ethereum on October 8th. Mr. Jack Levin has already in mind other launches on Optimizm and Arbitrum, possibly before his X1 chain is out. The chain will unite all EVM-compatible networks as well as integrate Bitcoin through the VMPX bridge.
The Base protocol, renowned for its fast transaction throughput, cheap gas fees, and technology powered by Optimism’s OP Stack, serves as an ideal environment userbase-wise for XEN Crypto’s continued evolution. Base is built to be the on-chain home for Coinbase products, users, and assets, as well as an open ecosystem where anyone can build for them, and it’s one of the biggest on-ramps for blockchain.
In a remarkable showcase of adaptability and resilience, XEN, along with XENFTs, participated in stress testing of Base. Each time XEN launches on a new chain, it subjects it to a heavy load of traffic with its large community. It’s no different with Base, whose performance has been evaluated under duress, as transaction fees experienced an astonishing 100x increase, surging from $0.05 to unforeseen heights.
the was $0.05 yesterday during testing, now its its almost $70.00 For 128 VMU XENFT pic.twitter.com/ihsyplL8e8
— ⓧ Cyphereus Prime 🟧🦇🟦 (@mrJackLevin) August 25, 2023
The price to mint an XENFT of 128 VMUS arrived at $100, but due to the high gas price, XEN caused temporary disruption to the friend.tech users, the popular social media app where people like Jack Levin trade their keys.
I am being traded on https://t.co/wcppYucOwc ...
— ⓧ Cyphereus Prime 🟧🦇🟦 (@mrJackLevin) August 21, 2023
XEN Crypto’s expansion onto Base underscores its adaptability and innovation in the rapidly evolving blockchain space. As a multi-chain project, XEN Crypto is poised to thrive within a diverse ecosystem, being the producer of a high number of transactions. Its presence brings many new users to the networks where it exists, which is a major reason for the rise in the number of new addresses.
#XEN on Base generated 65,000 transactions in one hour.
— ⓧ Cyphereus Prime 🟧🦇🟦 (@mrJackLevin) August 25, 2023
XEN burn
The XEN-burning protocols like Limited and Apex XENFTs, Fenix, and DBXen further solidify the integration with Base. Their deployment expands XEN’s utility, giving users the possibility to mint NFTs, stake XEN, and burn it.
All these projects are already present on other networks; however, they all launched months after the XEN launch.
Base is the first chain where they come together with XEN at the same time, which may alter the mechanics of user behaviour.
Usually, the minters mint XEN short-term to sell it right after depressing the price, but with all three burning contracts with strong incentives to burn XEN, the push to sell the token may be reduced. Additionally, the reduction in supply will have an influence on demand, making the token more scarce than it normally would, thereby augmenting the disinflationary properties of the token.
It will be interesting to follow this new model and observe its effect on the price of cbXEN.
XEN In BASE - blocks are full... pic.twitter.com/Z36PawNgCj
— ⓧ Cyphereus Prime 🟧🦇🟦 (@mrJackLevin) August 25, 2023
Conclusion
XEN Crypto is a pioneering blockchain project committed to pushing the boundaries of innovation and mass adoption. With a focus on transparency, decentralisation, censorship resistance, and community collaboration, XEN Crypto is poised to revolutionise the future of DeFi. With its launch on Base, it goes one step forward towards its predefined goal, and with the synergy of minting and burning XEN brought by XENFTs, Fenix, and DBXen, it creates a flourishing ecosystem for its many users and all the new ones coming from Coinbase.
