X2Y2 decentralized NFT marketplace was launched to compete with the leading player, OpenSea and LooksRare. This marketplace has a token called X2Y2 token under the Ethereum blockchain. This marketplace’s token which is capped at one billion is mainly channeled to staking rewards at 65% of the total amount, while airdrop accounts for 12%. X2Y2 launched a vampire attack on OpenSea to try to lure some of its users to use its services. Read on and find out what is unique about X2Y2, the transaction costs you may incur, the utility of the token, and the advantages and disadvantages.
A Bit About X2Y2
It's an ERC-20 token on the Ethereum blockchain. The name X2Y2 is derived from the formula of a perfect circle, x^2+y^2= r^2. The tokens can be used to trade with other coins and are often used by the X2Y2 marketplace as rewards for OpenSea users to convince them to stake their tokens with the decentralized NFT marketplace.
Earn staking rewards from a the new NFT marketplace token.CryptoLists.com
It's a trading platform for NFTs with features like bulk listing, real-time notification, batch purchasing, and rarity integration. Bulk listing means you can list various NFTs under one transaction, while batch purchasing allows users to buy multiple NFTs together. Real-time notifications alert you on any activity and mails on items. With X2Y2, there’s no private token sale, users enjoy airdrops, and market fees are rewarded to those staking.
Utility of X2Y2?
If you own X2Y2 tokens, staking them into their NFT market guarantees you staking rewards. You might be curious as to what staking involves, so we'll help to explain what it is and how it works with this token. Staking is essentially having your coins work on your behalf, and in doing so you earn rewards while helping the blockchain's functionality.
By staking X2Y2, you earn a market fee reward as well as an X2Y2 token reward. If you want to stake your X2Y2 coins then head up to the Rewards tab at the top of your dashboard and enter the amount you'd like to stake from your wallet such as MetaMask or Coinbase Wallet.
X2Y2 Price detailsETH Contract address: 0x1E4EDE388cbc9F4b5c79681B7f94d36a11ABEBC9
›› Details & Tokenomics
›› X2Y2 tokenomics and social media
Advantages of X2Y2+ The transaction fees are relatively low, at 2%.
+ Several trading features like an instant buy and sell push notification.
+ No private sales with public initial liquidity offering.
+ 100% of the transaction fees are rewarded to stakers.
+ Stake rewarding method gets rid of wash trading.
Disadvantages- No trading rewards.
- Redeeming the airdrop tokens is problematic at times.
- You cannot buy the tokens with fiat currency.
- Airdrop validation may expose token holders’ wallets to theft.
- The platform is still new; therefore, the future is not guaranteed.
Costs▪ Rated at 9/10
Transactions costs on trading in the X2Y2 NFT platform are 2% of your total transaction amount. The stakers on this NFT marketplace are awarded 100% of the transaction costs. This reward is coupled with the daily staking rewards.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
Since the decentralized NFT marketplace is new, it raised eyebrows when it launched a "vampire attack" on OpenSea to fish out some users. X2Y2 gave out tokens in an airdrop to OpenSea users as part of its public token offering strategy and became Uniswap’s most successful airdrop project. They were also quick to introduce the beta version before releasing the final version so that users could begin familiarizing themselves with the platform as they corrected the underlying issues.
What blockchain does the X2Y2 token fall?
It is an ERC-20 token on the Ethereum blockchain.
Can I purchase the X2Y2 token with cash?
You may need to visit other marketplaces to buy ETH first and later purchase this token.
What features does the X2Y2 marketplace offer?
Trading on this platform will allow you to enjoy batch purchasing, bulk listing, real-time notifications for buying and selling, and rarity integration.
How are the 1 billion tokens allocated?
- Staking rewards stand at 65%
- Airdrop distribution is 12%
- Development and team 10%
- Treasury and Ecosystem receives 10%
- Pre-sale distribution is 1.5%
- Liquidity management gets 1.5%
What does decentralized mean?
In blockchain technology, decentralization means distributing decision-making and control to a network rather than a centralized entity like a bank.
History of X2Y2
January 2022 The coin is launched on the 28th.
February 2022 On the 24th the slogan on their website was: "By the people, for the people."
May 2002 X2Y2 place a larger emphasis on 'free' NFT trading with 100% trading fee rebates for all collections.
July 2022 Trading fee set at only 0.5% and sellers share 100% X2Y2 rebates.