XX Foundation Announces Sale of 2M WXX Tokens For DEX Liquidity

The XX Foundation announced during mid December 2024 the launch of the Wrapped XX token (WXX) on the Binance Smart Chain which will be traded on the DEX CrowdSwap and later, PancakeSwap.

In order for there to be liquidity provided for people to trade frictionlessly in and out of the token on those platforms, the Foundation are funding it from a crowdsale of WXX tokens with incentives paid in Native XX Coin.

The sale can be found on CrowdSwap and WXX tokens are priced at 6 cents. 2,000,000 tokens will be available and the sale will go on until February 14th 2025, or sooner if all the tokens are bought.

The incentive rewards available are dependent on the amount bought and with the onus on the buyer to prove they have held their WXX tokens for 28 days. With the February deadline, this potentially gives time for people to unstake any existing Native XX coins should they wish to use them to generate funds to buy the tokens, and then hold the purchased tokens for the requisite period, unless all 2,000,000 tokens are sold before that time.

Once the purchased WXX is held for 28 days, and the buyer has proved ownership, the incentives are as follows:

A base incentive reward of 5%, followed by 0.1% on every 1,000WXX purchased, up to 20% at 150,000WXX and beyond. The example they give is as follows:

  • 1,000 WXX: 5.10% Incentive Award (51 Native XX)
  • 5,000 WXX: 5.50% Incentive Award (275 Native XX)
  • 50,000 WXX: 10.00% Incentive Award (5,000 Native XX)
  • 150,000 WXX or more: 20% Incentive Award (30,000 Native XX)

If the whole allocation of 2,000,000WXX is sold in the timeframe, an extra 1.4% will be added to the incentive rewards as illustrated above.

All the rewards have a 9 month lockup and cannot be moved in that time, and at the end of the 9 months there will be an extra 3, 6 or 12 month optional vest to receive 5%, 10% or 20% in further rewards respectively.

A nice touch introduced in the incentive process is that anyone new to the ecosystem will find themselves using cMixx through a webapp when proving their ownership of tokens. This will help raise awareness of one of the core facets of the XX Network that makes it stand out in the crypto space.

Full details, including how to go about claiming incentives are on the official website.

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