Gas-free trading and Meta accounts, multiple innovative features empower breaking through barriers, and list the expected market value of $XION

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远山洞见2024/12/04 06:39

By:远山洞见

I. Project introduction

XION is a Layer 1 blockchain based on Cosmos, designed specifically for widespread consumer adoption. Its goal is to solve the obstacles of functional complexity and cultural adaptability in the Web3 ecosystem, thereby promoting the popularization of blockchain technology. Through the universal abstraction layer, XION abstracts complex encryption operations, providing developers and users with a more intuitive and simplified experience, eliminating the complexity of encryption technology, and making it easy for ordinary users to access the Web3 world.

The core concept of XION is to simplify complex operations such as account management, signature processing, expense management, and cross-chain interoperability, allowing ordinary users to smoothly interact with blockchain without understanding encryption technology. XION provides innovative features such as gas-free transactions, Meta accounts, cross-device support, and fiat currency pricing, greatly reducing the threshold for new users to enter Web3.

In addition, XION's deep integration with the Cosmos ecosystem allows it to seamlessly integrate with a variety of cross-chain applications, allowing users and developers to enjoy a wider range of functional support and ecosystem resources.

Gas-free trading and Meta accounts, multiple innovative features empower breaking through barriers, and list the expected market value of $XION image 0

II. Project highlights

1. Seamless User Experience and Abstract Design

XION abstracts complex encryption technologies (such as account management, signatures, payments, and gas fees) through its innovative, universal abstraction layer, simplifying blockchain operations and making it easy for ordinary users to use without mastering technical details. This design reduces the learning curve of Web3 and greatly enhances the User Experience.

2. No Gas Fee and Fiat Currency Pricing

XION completely eliminates the requirement for users to pay Gas fees in transactions, and uses fiat currencies such as USDC for pricing and transactions. This not only avoids the impact of cryptocurrency price fluctuations, but also allows users to operate in familiar fiat currencies, providing a more intuitive and easy-to-understand payment method.

3. Meta accounts and cross-device support

Through Meta accounts and signature device abstraction, XION enables users to seamlessly switch between different devices without managing private keys or downloading dedicated wallet applications. Whether on mobile or PC, users can enjoy a consistent security and convenience experience.

4. Abstract cross-chain interoperability

XION provides powerful cross-chain interoperability. Through the Cosmos IBC protocol, users can seamlessly interact between multiple blockchains without worrying about the specific technical details of each chain. This provides developers with more application scenarios and brings users a richer functional experience.

5. Global payment and cooperation ecosystem

XION supports the direct purchase of on-chain goods through credit/debit cards, simplifying the cumbersome process in traditional encrypted transactions and making it more suitable for mass users. In addition, XION has established strategic partnerships with multiple well-known companies in the Web3 and Web2 fields, providing strong support and trust endorsement for its ecosystem.

III. Market value expectations

XION is a Layer 1 blockchain based on Cosmos, designed to promote the popularization of blockchain applications. It solves the functional complexity and cultural adaptability barriers in the Web3 ecosystem through an innovative universal abstraction layer, aiming to lower the threshold for new users to enter the blockchain world. Currently, the pre-market price of XION's Bitget is $5.70, with a total supply of 200 million coins and an initial circulation of 25,559,333 coins, accounting for 12.78%.

To further evaluate the market potential of XION, we can compare it with other outstanding public chain projects in the market, such as Injective, ZetaChain, and Celestia.

Benchmarking project

Layer 1 blockchain optimized for DeFi applications: Injective ($INJ)

Unit price: $33.38

Market capitalization: 3.271 billion USD

Fully diluted market capitalization: $3.341 billion

Circulation: 97,727,220 INJ

Total supply: 100,000,000 INJ

Maximum supply: 100,000,000 INJ

2. Full-chain smart contract platform: ZetaChain ($ZETA)

Unit price: 0.94 USD

Market capitalization: 546 million USD

Fully diluted market cap: $1.991 billion

Circulation: 576,114,583 ZETA

Total supply: 2,100,000,000 ZETA

3. Modularization blockchain network: Celestia ($TIA)

Unit price: $8.26

Market capitalization: 3.655 billion USD

Fully diluted market cap: $8.981 billion

Circulation: 439,443,172 TIA

Total supply: 1,087,243,397 TIA

Market value comparison and forecast

The following are several scenarios in which the market value of XION may reach, as well as the predicted price of $XION calculated based on these scenarios.

Benchmark Injective ($INJ)

If the circulating market value of $XION reaches the Injective level, the price of $XION may rise to $128.00, which means an increase of about 2145%.

Benchmarking ZetaChain ($ZETA)

If the circulating market value of $XION reaches the level of ZetaChain, the price of $XION may rise to $21.37, an increase of about 275%.

Benchmarking Celestia ($TIA)

If the circulating market value of $XION reaches the level of Celestia, the price of $XION may rise to $143.00, an increase of about 2407%.

XION's core competitiveness lies in providing users with innovative features such as gas-free transactions, fiat currency pricing, and cross-chain interoperability. Combined with the current low initial circulation, XION has the potential to compete with top projects in the future.

IV. Token Economics

As a utility token driving the Proof of Abstraction ecosystem, $XION has a total supply of 200,000,000 tokens, with an initial circulating supply of 25,559,333 tokens.

$XION aligns the interests of network participants through the following mechanisms to achieve sustainable development of the ecosystem:

Staking: Allows network participants to support cyber security by staking tokens while receiving rewards.

Fees: Used to pay for transaction fees and other network functions.

Governance: Empowering token holders to participate in network decision-making, including protocol updates and governance proposal voting.

Cross-Chain Fee Settlement: Supports value transfer and settlement between multiple chains.

Collateral & Liquidity: Used as the basis for network functionality and liquidity support.

These mechanisms jointly support the decentralization and long-term stable development of the network.

The distribution strategy of $XION tokens focuses on the growth and sustainability of the ecosystem, with most tokens allocated to the community, ecosystem, and protocol development. The specific distribution is as follows:

Strategic Backers: 27%

Used to reward early investors and strategic supporters, ensuring resource security for ecosystem construction.

Ecosystem Incentives & Incubation: 23%

Inspire network participants while supporting new project incubation, promoting the expansion and innovation of the ecosystem.

Core Team: 20%

Allocate to the core contributing team to reward their continued contributions to protocol development.

Protocol & Foundation: 15%

Support the long-term development, maintenance, and related foundation activities of the agreement.

Community and Launch: 15%

Provide funding for community activities, marketing, and project startups to increase token user coverage and Network Effect.

In order to ensure cyber security, strategic supporters can stake locked tokens to participate in consensus mechanisms and support network stability. Unlike projects such as Celestia and Aptos, the staking reward of $XION will be locked, which means that the staked reward cannot be circulated or transferred for a certain period of time, further enhancing network security.

At the same time, in order to maintain fairness and decentralization, the core contribution team cannot pledge locked tokens. This policy ensures that the team's influence on the token market is limited, further enhancing the stability of the token economy.

V. Team and financing

Team part

The team is composed of founder and CEO Banksy and head of growth Prajwal Yadav.

Financing component

Since its establishment in 2021, the project has gone through multiple rounds of financing.

May 2021 seed round, raised $3 million, backed by investors including Injective, Multicoin Capital, Mechanism Capital, Tribe Capital, Solana Foundation, and Alameda Research.

In January 2022, we raised a total of $8 million in Series A financing from well-known institutions such as Animoca Brands, Multicoin Capital, Mechanism Capital, Alliance DAO, DeFiance Capital, Spartan Group, and HashKey Capital.

Strategic financing in October 2023, specific amount undisclosed, exclusively invested by Circle Ventures.

In addition, in the financing in April 2021, the project received $25 million in funding support from well-known institutions such as Multicoin Capital, Animoca Brands, Arrington Capital, Sfermion, Spartan Group, and Kucoin Ventures.

The financing process shows that the project has attracted strong support from multiple rounds of strategic capital, laying the foundation for its development in the industry.

VI. Risk Warning

1. The core innovation of XION lies in its "general abstraction layer", which aims to simplify the operation of blockchain and allow ordinary users to use it without mastering complex encryption technologies. However, the complexity of this abstraction layer itself may also bring problems in Technology Implementation. For example, there may be potential vulnerabilities in the abstraction process, especially in user data, wallet signatures, cross-chain transactions, etc. If these abstractions are not fully tested or optimized, it may lead to data leakage or asset loss.

2. XION introduced a mechanism for pricing and trading fiat currencies, with the aim of keeping users away from the volatility of the crypto market and providing a more intuitive and familiar payment experience. However, this also means that the project needs to rely on stable fiat currency payment channels (such as stablecoins like USDC). If the fiat currency market encounters volatility or related policy changes (such as strengthening stablecoin regulation), XION's pricing mechanism may face adjustments, affecting its market acceptance.

VII. Official link

Website：https://xion.burnt.com/

Twitter：https://x.com/burnt_xion

Discord：https://discord.com/invite/burnt

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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