Xone Coin(XOC)
XOC is the native cryptocurrency of Xone Chain, and it operates similarly to Eth in the Ethereum ecosystem. Users need to use XOC tokens to interact with Xone Chain, as they are used to pay for Gas fees associated with transactions and smart contract interactions. In addition, XOC tokens play a vital role in the network security model, where users can lock their tokens by staking, help protect the network and receive corresponding rewards; provide support for decentralized finance (DeFi), smart contracts, and cross-chain applications; and also play an important role in the Behavioral Value Incentive (BVI) economic model.
Key Features of XOC
Ownership: XOC allows users to fully control their funds. By holding XOC, users become their own bank, with full ownership and control over their tokens.
Security: XOC is protected by robust cryptographic algorithms and stored in personal wallets, ensuring the security of both funds and transactions, preventing unauthorized access.
Decentralization: XOC operates on the DPoS (Delegated Proof of Stake) consensus mechanism, ensuring that there is no central authority controlling the network. This enables decentralized management and governance.
Accessibility: XOC can be accessed by anyone with an internet connection and a compatible wallet, making it easy to use for global participants.
Flexibility: XOC can be divided into small units (as small as 0.0000000000000000001), which allows for transactions of any size, from micro-payments to larger transfers.
Instant Payments: XOC transactions do not require intermediaries. They are processed directly on-chain, making payments quick, seamless, and cost-efficient, similar to making a peer-to-peer cash transaction.
What Makes XOC Unique
Supports the Xone Chain Network: XOC is the core token of Xone Chain, used to pay transaction fees and incentivize validators who process and verify transactions. Every transaction on the Xone Chain requires XOC for payment, which drives the network's functionality.
Validator Rewards: Validators on the Xone Chain are responsible for proposing and verifying blocks. They are rewarded with XOC for their work in maintaining the integrity of the blockchain.
Staking and Network Security: Users can stake XOC to secure the network. Staking XOC not only helps protect the network but also rewards users for their participation. Staking ensures the security and decentralization of the Xone Chain.
DeFi Functionality: XOC can be used as collateral in decentralized finance (DeFi) applications, enabling activities such as lending, borrowing, and earning interest.
Transaction and Cross-Chain Payments: XOC supports cross-chain asset transfers and is used to pay fees for transactions involving multiple chains. This enhances the interoperability of Xone Chain across different blockchain ecosystems.
Value Proposition of XOC
Transaction Fees: XOC is critical for paying transaction fees within the Xone Chain network. Each transaction or smart contract execution requires XOC as a fee, which incentivizes validators to process and confirm the transactions.
Store of Value: Due to the fixed supply of XOC, it serves as a store of value in the digital world. Its scarcity, combined with increasing demand, makes it an asset with the potential for appreciation, much like Bitcoin or other cryptocurrencies.
Investment: As Xone Chain's ecosystem grows, the role of XOC in powering the network makes it a valuable asset to invest in. With the development of the Xone Chain ecosystem, XOC's utility and demand will continue to increase.
How to Acquire XOC
Purchase on Exchanges: XOC is available for purchase on various centralized exchanges (CEXs), where users can exchange fiat or other cryptocurrencies for XOC. It is recommended to store XOC in a wallet that you control for added security.
Earn XOC Through Staking: Users can stake XOC to help secure the network and earn staking rewards. You can either delegate your XOC to a staking provider or run a validator node to earn XOC rewards.
Cross-Chain Asset Transfer: XOC supports the transfer of assets from other blockchains. You can bring assets like ETH, USDT, and more to Xone Chain, exchange them for XOC, or use them within the ecosystem.
Participate in Community Activities: Users can also earn XOC by participating in Xone Chain ecosystem activities, such as hackathons, developer challenges, airdrops, and more.
Token Economics
XOC is the core resource in the Xone Chain ecosystem, with a maximum token supply capped at 10 billion. This cap is designed to ensure the stability of the token's value and prevent inflation. These tokens provide power to the network, supporting staking and daily operations (such as initiating transactions and governance rewards), thereby ensuring the security and stability of the ecosystem.
In Xone Chain, XOC determines the weight of each node in network decision-making. According to the Proof of Stake (PoS) consensus mechanism, validators will receive voting rights proportional to their staked XOC. To execute transactions on the network, users must pay gas fees, which will be burned, permanently removing them from circulation.
At the genesis, a total of 8 billion XOC tokens were minted. Subsequently, the system will gradually mint a small number of additional XOC tokens to reward validators for their active contributions, with corresponding rewards issued at the end of their staking period. This minting process will offset the funds consumed through transaction fees, with a total supply expected to reach 10 billion within approximately five years.
| Channels | Allocation | Release |
|---|---|---|
| BVI Nodes | 60% | Being generated based on GV and being released linearly over 10 years. |
| Donation Program | 10% | 5% allocated to the donation program upon launch, with the remaining being released linearly over 2 years. |
| Team Allocation | 10% | Being released linearly over 3 years. |
| Ecosystem funds | 10% | Reserved for exchange listings and ecosystem governance. |
| DAO and Airdrops | 10% | Being allocated for DAO governance and airdrop activities. |
In Xone Chain, validators’ staked tokens will not be reduced due to negligence or malicious behavior. However, we do not encourage such behavior, as it not only wastes valuable computational resources but may also lead to validators missing out on rewards, potentially impacting the overall security and integrity of the network. By maintaining honesty and active participation, validators can not only safeguard their own interests but also contribute to the healthy development of the network.
Use Cases for XOC in the Xone Chain Ecosystem
Decentralized Governance: XOC holders can participate in the governance of the Xone Chain network. They can vote on proposals that affect the network, such as protocol upgrades or changes to network parameters.
Liquidity Provision and Trading Rewards: Users can provide liquidity (LP) with XOC and earn trading fees. They can also participate in decentralized exchanges (DEXs) on Xone Chain and earn transaction rewards.
DeFi Applications: XOC can be used within decentralized finance applications on Xone Chain, including lending, yield farming, and liquidity mining. Users can earn interest, fees, and other rewards through DeFi participation.
Staking and Validation: By staking XOC, users can become validators or delegate their XOC to validators, contributing to the consensus mechanism and earning rewards for helping secure the network.
Cross-Chain Interoperability: XOC supports cross-chain interoperability, allowing for the transfer of assets between Xone Chain and other blockchains, increasing its utility within the broader ecosystem.