Token is positioned for security as the only one in the world with a backup of protection against force majeure
When Bitcoin (BTC) first launched in 2009, critics quickly raised questions about the impact of the lack of support on the asset. This negative view was maintained even with the abandonment of the US gold standard in 1971. Although fiat currencies offer no intrinsic value, this thought process was enough to deter risk-averse investors from avoiding investment. ‘invest completely in cryptos and others to refrain from using it. in their daily transactions.
Although cryptocurrency is volatile, it still offers the benefits of traditional fiat currencies. As a result, finding a more stable option for cryptocurrencies could prove beneficial for areas where local currencies are highly uncertain.
This is in part what led to the creation of the global token, Ixinium XXA. The token was created with a physical backup with protection against force majeure. Users can compare this to all of the Ixinium Foundation’s precious metal holdings being insured with full replacement value by the custodian service providers. Most recently, the team launched a precious metals purchase program in 2020, which is still ongoing.
Leveraging the capabilities of Stellar (XLM), the XXA cryptocurrency can theoretically offer better value than traditional spot gold and other safe haven electronic assets. Further consolidating this, the Ixinium team has been testing the XXA token redemption feature over the past few months, which has moved from the process testing phase to the live beta testing phase. This process adds to the base value of the Ixinium XXA token and creates a guarantee of collateral value in precious metals greater than the market value of the XXA token.
The XXA buyback feature is acting as a step forward, as the team made a milestone by informing the XXA burn schedule earlier this month. News has since been released that half of issued XXAs will be burned by the end of 2022, reducing the total supply from 540 million to less than 270 million, further increasing the scarcity of these tokens.
The project started with the goal of delivering low cost, instant mobile payment transfers anywhere in the world as part of a more decentralized global marketplace. The team shares firsthand how expensive transactions can be and the kind of inconvenience this could cause to customers. The Ixinium team then considered the Stellar network to be one of the fastest and cheapest crypto payment networks in existence today. As a perspective, Stellar is estimated to enable over 20 million transactions in less than $ 100 with a transaction speed of 2-5 seconds.
However, XXA is not limited to mobile transfers; the team is also introducing staking into its ecosystem. Staking has grown in popularity as a widespread feature in the decentralized world and is one of the most common ways to earn more tokens. Users can participate in XXA autostaking using any non-custodial Stellar wallet as long as it allows you to add trust lines. Users then become eligible for rewards as long as the XXAs are kept in the wallet. If you transfer XXA to a different address, it will start receiving rewards in place of your account.
Tackle other networks
The team assures their community that the most important Stellar update is yet to come and maybe what it takes “to take Ixinium to the next level.” More specifically, Stellar aims to open up decentralized finance (DeFi) and automated market maker (AMM) functionality, providing redemption, liquidity pooling, coin burning and lending functions for the XXA.
The Ixinium team is also looking to expand its development and production to the Binance (BNB) and Ethereum (ETH) networks. Plans are currently in place to launch the Ixinium Finance DeFi app on the Binance network, which offers an advantageous allocation of the fee structure that may be more generous for liquidity providers. As for the Ethereum network, Ethereum XXA is also in development as a gold backed token, with a fixed offering and additional features.
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