0xDC43
March 30th, 2022

As X2Y2 enters the next stage of its journey, we are very excited to present a new tokenomic model which will bring real value to our loyal stakeholders and the whole NFT community. We pride ourselves on our agility and responsive approach to development and believe it’s an essential part of success in the fast-moving world of blockchain. So, time for a change!

As previously announced we will be sunsetting the X2Y2 airdrop. As you can see below, claims leveled off a number of weeks ago, and tokens remaining in the airdrop contract (~92,000,000 X2Y2) no longer realistically make up part of the circulating supply. We will be renouncing the contract and burning the remaining tokens.

X2Y2 airdrop claims over time. Source: Dune Analytics / @zxsasha
X2Y2 airdrop claims over time. Source: Dune Analytics / @zxsasha

Our initial model of giving users listing rewards had certain advantages, but upon analysis and with the experience of the last six weeks, we have decided to shake things up. The problems were as follows:

0xDC43
March 22nd, 2022

Following the change in emissions after the first halving, we would like to present a clear and up-to-date account of X2Y2’s circulating supply.

Top X2Y2 Holders as shown on etherscan
Top X2Y2 Holders as shown on etherscan

The numbers below are matched with the numbers of the addresses in the image above.

  1. NFT Listing Rewards contract: 172.22M X2Y2. These tokens were pre-minted to serve as listing rewards, and are not currently tradable. To date, 7.3M have been distributed, while 11M tokens were unallocated as there were not enough listings to claim them; these will be burned.
  2. Staking Rewards contract: 132.77M X2Y2. These tokens are staked by individual holders; they are unlocked and tradable.
  3. Unclaimed X2Y2 airdrop: 92.00M X2Y2. From a starting allocation of 120M tokens to be airdropped at the launch of the project, 77% remain unclaimed. For more detail, see Dune Analytics. We will be changing the requirements for claiming the airdrop. New rules will be based on listing rewards V2. Old rules such as listing 5 collections or 50 NFTs will no longer be required.
  4. Reward Forwarder contract: 78.40M X2Y2. This smart contract is what we use to burn the unallocated Listing Rewards. Tokens will flow to this smart contract before being diverted to either the burn address 0x…dead or the Listing Rewards contract (1).
  5. X2Y2 Treasury: 56.49M X2Y2. All tokens are currently locked. The first tranche will unlock on day 90, and will be used in support of the project, details of which will be provided to the community. See the emission schedule here.
  6. X2Y2 Team: 56.49M X2Y2. All tokens are currently locked. The first tranche will unlock on day 180. See the emission schedule here.
  7. Uniswap AMM contract: 16.94M X2Y2. Tokens supplied as liquidity on Uniswap.
  8. ILO contract: 14.43M X2Y2. These tokens will be unlocked and distributed linearly across the first 360 days.
  9. X2Y2 Safe Multisig wallet: 5.00M X2Y2. These tokens were originally earmarked for LP staking, but since that has proven unnecessary, they will be burned along with those from (1).
  10. Token Splitter contract: 1.39M X2Y2. This contract is in charge of minting X2Y2 and distributing them to other contracts.
0xDC43
March 18th, 2022

Around two hours ago, the X2Y2 staking halving kicked in on block #14408224, and we noticed the APR dropped from ~1000% to ~160%, much lower than the expected 500%.

After investigating the issue further, we discovered that a mistake was made in setting the initial parameters of the staking rewards contract.

The first table shows the planned distribution of tokens while the second table shows how they were actually distributed as a result of the error. The error resulted in per stage having instead of the intended per block halving. In the current setup, all tokens that will be distributed in stage 2 are halved from that of stage 1.

0xDC43
February 3rd, 2022

It's been a week since we’ve released the X2Y2 Litepaper, our vision of building the truly decentralized Marketplace we've all been waiting for: by the people, for the people. Today, one week later, we're proud to share the X2Y2 Beta with the public, allowing our community to play around with what we've been diligently building throughout the last three months.

You'll be surprised how fast our well-coordinated team will ship new features daily, extending the X2Y2 features to sought-after utilities like bulk listing and buying, combined $WETH & $ETH trades, as well as the integrated rarity ranking and analysis.

We want the X2Y2 Beta to be easily accessible and rewarding for everyone. That's why we've set royalties and trading fees to 0% and will reward traders by raffling off whitelist spots – granting access to our upcoming Initial Liquidity Offering.

0xDC43
January 30th, 2022

We did our first AMA on Twitter Space. As most of the activities and questions on Discord were coming from Chinese-speaking x2y2ers, this AMA was held in Chinese too.

In case you missed it, we recapped the whole event in English. Due to some technical issues with Twitter, the free question part is lost will be provided from our Discord member brandon_li.

Participants

  • TP (Founding team member of X2Y2)
  • LEO (Moderator on X2Y2 Discord server)
  • X2Y2ers: icaca, Sii, cj3343, conanxin, jack ma, oobb, 盈盈, 小白, 0xNK, yu7