XTK is Live

xToken’s native token XTK is now live on mainnet!

Token address: 0x7f3edcdd180dbe4819bd98fee8929b5cedb3adeb

Uniswap pool: 0x2FBa756C64d4F9dBB17F1B3A1AfB5F05af7f18C0

Max supply: 1 billion

Retroactive Distribution

We’ve distributed 2% of supply (20 million XTK) retroactively to past users and liquidity providers. Each eligible address was assigned a cumulative point total based on participation in the network: 1 point each for an investment in an xAsset, whether by direct mint on xToken or swap on a liquidity pool. And 1 point each for contributing to our recommended liquidity pool.

For example, a user who invested in xKNCa, xINCHb and xSNXa and contributed liquidity to the xINCHb 1Inch pool would have been allocated 4 units of distribution.

We then divided the allocated pool by the number of total distribution units and registered the total distribution to each address in our claims contract. We finalized our script at block 11857556 (Feb. 14 10:30 PM UTC). Check for your distribution at xToken Cafe. Rewards will remain available for 1 year, at which point they will be returned to the community pool.

Community Vesting

Instead of buying on the market, we highly recommend that community members who want to own XTK earn it via our Community Vesting program. We will be heavily incentivizing users to contribute to select liquidity pools. Our initial program will run for 10 weeks and will distribute 8% of total XTK supply. While the initial incentives period is 10 weeks, we intend to extend most or all of these programs. Read more about Community Vesting on the dedicated blog post. Community Vesting starts tomorrow at 8 pm EST!

Overall Token Distribution

Our token distribution is as follows:

• Community Vesting — 50%: liquidity incentive and engagement programs, paid out over 2 – 4 years. This includes our initial liquidity incentives launching today, as well as future liquidity and community engagement programs to be announced soon.
• Early Investors and Advisors — 12.9%: all investor and advisor allocations vest on a 2 year linear schedule with a 1 year cliff, initiated no earlier than September 10, 2020. This means that zero investor/advisor tokens unlock before September 10, 2021 and some investor/advisor allocations don’t begin unlocking until several months later.
• Current and Future Team — 20%: all current and future team member allocations vest on a 4 year linear schedule with a 1 year cliff, initiated no earlier than September 10, 2020. This means that zero team member tokens unlock before September 10, 2021 and some team allocations don’t begin unlocking until several months later.
• Growth and Ecosystem Fund — 17.1%: this is xToken’s long term treasury reserve. Any future investor allocation and all growth, development and ecosystem initiatives will be funded from this pool.

Looking Forward

While we’re still in the early stages of developing our token model, we’re excited to begin soliciting feedback from the xToken community on the path forward. Please join the conversation in our Discord.

Near term, we have several more xAssets slated to launch in Q1, with xToken Lending on track for Q2. Stay tuned for more updates on development plans and tokenomics.

Finally, we are a small team (four developers with a fifth coming on shortly) looking to grow! We’re looking for experienced Solidity developers and perhaps a front-end developer/designer if the fit is right. We also have an open application if you feel like xToken is the project you’ve always wanted to work on. Send an email to michael @ xtoken dot market to apply.