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.

X2Y2 Tokenomics

Next to releasing the X2Y2 Beta to the public, we’re thrilled to share the X2Y2 Tokenomics with you today. Let’s dive into the details about the upcoming Airdrop, Staking Rewards, the X2Y2 Emission Schedule and clarify open questions about our Initial Liquidity Offering.

Airdrop Rules

To ensure X2Y2 will have many high-quality NFTs listed directly from the start, we will ask the people eligible for the $X2Y2 airdrop to list NFTs as a pre-requisite for claiming their $X2Y2 tokens. The more $X2Y2 airdropped to a user, the higher their pre-requisites for claiming. You need to either clear the collection requirement OR the NFT requirement to claim.

• NFT requirement: List X NFTs from any amount of collections.
• Collection Requirement: List any amount of NFTs from Y collections.

Staking Rewards

While the $X2Y2 airdrop goes out to previous OpenSea users, our daily Staking Rewards will benefit all the people using the X2Y2 NFT Marketplace: our community.

Overall, 65% of the total supply of 1,000,000,000 X2Y2 tokens will be allocated for Staking Rewards. We've decided to split these Staking Rewards into two parts: $X2Y2 Staking (20%) and NFT Staking (45%).

$X2Y2 Staking

The $X2Y2 Staking Rewards will be calculated as follows:

Where:

• K0 is Staking Reward Per Block for $X2Y2 Staking

NFT Staking

Staking your NFTs is simple: you just list them for sale at a reasonable price on the X2Y2 Marketplace. The NFT Staking Rewards will be calculated as follows:

Where:

• K1 is Staking Reward Per Block for NFT Staking
• P is the probability that an NFT gets sold, calculated by factors like:
  • The recent trading frequency within the collection.
  • The difference between an NFT's listed price and its previous price, and the collection's floor price.
  • Is X2Y2 marketplace approval revoked? (P will be 0 if revoked)
  • Is the NFT part of a blue-chip collection?
  • Has the NFT been listed for a long time but still unsold?
• Multiplier is 1 in for most verified collections. We will add time-limited boosts to projects that help and advocate X2Y2.

The X2Y2 Marketplace is built by the people, for the people. That's why we're always listening closely to our community's feedback. So please note that the P can be subject to change, as it should match the current real-world expectation of an NFT's possibility of getting sold.

X2Y2 Emission Schedule

$X2Y2 will be released according to the following schedule. As you can see, the Dev & Team allocation has a vesting of 180 days. We're here to build the NFT Marketplace by the people, for the people. So we won't be following the current status quo of shady private sale tactics, making a few rich people even richer.

We decided to incentivize people to stake their airdropped $X2Y2 right from the beginning. That's why we will distribute higher Staking Rewards in the earlier stages, as you can see in the following table.

The following table shows the release schedule of NFT Staking Rewards, released linearly.

The following table shows the Team & Dev allocation unlocking schedule.

The following table shows the Treasury allocation unlocking schedule.

ILO allocation’s unlocking schedule is described in the next section.

Initial Liquidity Offering

After releasing our Litepaper, we've received several frequently asked questions about the Initial Liquidity Offering (ILO) which we want to clarify for you:

• The allocation you get through the ILO whitelist can't be split.
• If you complete at least one transaction (buy or sell) in our beta, you will take part in the ILO whitelist spot raffle.
• X2Y2 tokens from the ILO will be unlocked linearly per block in 360 days.
• These ILO tokens will be rewarded with part of the market fee in WETH, even in the locking period.
• ILO participants can get a free founding edition of "Ajin Youth Rebels" NFT, X2Y2's original 10K NFT collection.
• These ILO tokens won't receive the X2Y2 staking rewards automatically. You need to withdraw and deposit it into the staking contract manually.
• Unlocked X2Y2 from ILO will be both tradable and stakable.

The following table shows the ILO unlocking schedule.

Details of token staking and fee-sharing

This part was updated on Feb 13th after we finished the final tune on our smart contracts.

The market fee will be shared between $X2Y2 stakers. The following parties will share the fee with the rules below:

• Airdrop users need to claim and stake their $X2Y2 to the staking pool to share the fee.
• All the locked/unlocked $X2Y2 by the ILO users take a stake in the fee from the very beginning. No extra action is needed.
• NFT Staking rewards need to be claimed and staked to the staking pool to share the fee.
• $X2Y2 tokens staked in the staking pool will be auto compounded.
• Team & Treasury will join the staking fee-sharing in a linear incremental way both starting from 0. There’s no auto compounding for Team & Treasury.