$XBG
XBG is the native token that fuels the XBorg protocol. It is the primary payment method, capturing all the value and revenues generated within the ecosystem. In addition, it provides access to protocol governance, allowing token holders to actively participate in shaping the platform's future.
On which blockchain is the XBG token going to be deployed?
The XBG token is set to be deployed on the Ethereum blockchain and will be bridged to the Polygon network for enhanced scalability and efficiency. Additionally, a separate allocation of XBG tokens will be set aside for deployment on the Borg chain once it's fully operational. This multi-chain approach ensures broad accessibility and versatility for our token holders.
Why has XBorg decided to issue a token?
XBorg is deeply committed to fostering a community-centric ecosystem, and our decision to issue a token reflects this commitment. Unlike traditional corporate models that focus on share-based value accrual, all cash flows generated within our ecosystem are redirected to the DAO (Decentralized Autonomous Organization) treasury. This model facilitates more direct community involvement and aligns interests more effectively.
By introducing the XBG token, we create an in-protocol economy where the token serves as the primary means of transaction. This move signals a shift towards a more participatory, community-driven model, wherein every member has a say in the platform's direction and shares in its success. It's an innovative approach that underscores our belief in the transformative potential of decentralized networks.
What is the total supply of XBG tokens?
The maximum supply of XBG tokens has been set at 1,000,000,000 (1 billion).
When will the XBG Token Generation Event (TGE) take place?
The TGE is not yet announced but will most likely take place until Q2 2024.
Why can't you give an exact TGE date?
As a team, we believe that the crypto outlook towards Q2 2024 and close to Bitcoin halvings will be positive. The XBorg team is currently engaging in talks with top-tier exchanges, whose opinions hold considerable weight in determining the ideal timing for token listing. It's important to note that launching a token during periods of uncertain liquidity and interest in alternative coins can pose a risk.
In addition, we recognize that a token's value lies in the strength of the ecosystem it operates in. Therefore, our goal is to cultivate a user base of at least 100,000 prior to launching the token.
Looking ahead, our team is optimistic about the crypto market's potential towards Q2 2024, particularly in light of upcoming Bitcoin halvings.
How will the token be launched?
We plan to release the token via a Balancer Liquidity Bootstrapping Pool. Please note that this may change as per exchange requirements and market conditions.
Is it planned to launch the XBorg token on L2s like Arbitrum because of the expected high gas costs on Ethereum?
Yes, the token will be launched on ETH as the primary market and bridged on Polygon and, eventually, other L2s.
How will you provide liquidity like XBorg/WETH pools?
5% of the seed round capital and a meaningful portion of the public sale will be put as liquidity in AMMs.
On which exchanges will the token be listed?
We are entertaining discussing with the following parties.
Tier 1 exchanges:
Binance
Coinbase
and Tier 2 exchanges:
Kraken
OKX
ByBit
Kucoin
While certain discussions have progressed further than others, we are unable to confirm any exchange listings due to the existence of non-disclosure agreements surrounding certain discussions.
Will the token have liquidity on-chain?
Yes, a uniswap pool on the Ethereum network (quickswap for Polygon) will be made available and XBorg will seed the initial liquidity. We will further incentivize third-party liquidity provisions with LP rewards. 5% of the seed round capital and a meaningful portion of the public sale will be put as liquidity in AMMs.
What's the token utility?
The XBG token plays a crucial role in the network, serving as the primary means of payment, governance, and protocol incentives.
In-app payments & Platform fees
XBG is the primary method of payment and transactions across the protocol, which is subject to certain fees. For Web2 users preferring fiat payment, XBorg acquires the equivalent of XBG tokens on the open market. The list of fees collected via the protocol can be found on the slide: Protocol Sustainability & Revenue. Those fees are charged in XBG.
Governance
The XBG token is used for governance actions in the XBorg DAO upon the Token Generation Event. XBG token holders have the ability to vote on key decisions regarding the development of the protocol.
Staking
50% of the fees and revenues paid in XBG are designated for the staking reward pool. The amount of staking rewards received is determined by the duration of the lockup period and the individual's status within the protocol.
Protocol Access
Some functionalities and utilities of the protocol are subject to access restrictions based on the quantity of XBG held and the user's status within the protocol.
Are there different levels of holding with varying bonuses?
Currently, possessing XBG tokens does not confer any particular level; however, it should be noted that access to certain features will be predicated upon the quantity of XBG held in one's possession.
Does XBG have a burning mechanism?
Currently, 50% of revenues are allocated to staking yield whilst the remainder is allocated to the treasury. The governance could decide the exact revenue split and allocate a portion for a burn mechanism.
Last updated
Was this helpful?