WXX/XX Indirect Bridge with Native XX Listings on CEXs

Last Updated on July 16th, 2024

In an announcement you can read below, published on April 24th 2024, The XX Foundation speak of the listing of the native XX Coin (XX) on both the Coinstore and Biconomy centralised exchanges to go alongside their wrapped XX (WXX) listings.

Coinstore’s XX market is now live from the morning of the 25th April.

This indirect method of bridging (providing markets for both wrapped and native XX Coins on the same exchange) provides benefits perhaps less obvious than it might first appear.

If WXX has been acquired from the same exchange, by allowing a smooth transition from the WXX coin to XX without having to push a transaction on the ETH blockchain, this saves the user the potentially high transaction (gas) fees associated with ETH. When withdrawing native XX to a user controlled wallet, the transfer fees are negligible and therefore also encourages safer user custody of funds. People can then also participate in securing the native blockchain through staking (for example by using the simple staking tool).

Other benefits of having both native and wrapped XX listed are detailed in the announcement, below.

nativexx-soon-listed-coinstore-biconomyDownload

The official bridge is now live so that coins procured on DEXs can also be turned into native XX if required, and further blockchains will be added (such as BSC) which will lower the fees involved in moving WXX entirely.

You can read more about the bridge and WXX here.

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