When Bitcoin (BTC) was first launched in 2009, critics immediately questioned the impact of the lack of support on the asset. This negative view persisted even after the US gold standard was abandoned in 1971. Although fiat currencies have no intrinsic value, this thought process was enough to prevent risk-averse investors from investing in cryptocurrencies altogether, and others from their investments. Daily use.
Although volatile, cryptocurrency still offers advantages over traditional fiat currencies. As a result, it may be beneficial to find a more stable cryptocurrency alternative for regions where the local currency is highly volatile.
This led in part to the creation of the universal symbol XXA from Ixinium. The token was created with a physical backup with protection against force majeure. Users can compare this with all Ixinium’s precious metal parts that are insured at full replacement cost by depot suppliers. The team recently launched a program to buy precious metals in 2020, which continues to this day.
By exploiting the potential of Stellar (XLM), the XXA cryptocurrency can theoretically offer better value than traditional spot gold and other electronic safe haven assets. To reinforce this, the Ixinium team has been testing the XXA Token Buyback feature over the past few months, which has gone from process testing to live beta testing. This process increases the base value of the Ixinium XXA token and provides support for the security value of precious metals, which is more important than the market value of the XXA token.
The XXA repurchase post serves as a step forward as the team reached an important milestone by announcing the XXA incineration plan earlier this month. Since then, it has been reported that half of the issued XXA will be burned by the end of 2022, which will reduce the total supply from 540 million to less than 270 million, increasing the shortage of these tokens.
Turn the stack upside down
The project started with the goal of offering affordable and instant mobile payment transfers anywhere in the world within a larger, decentralized global marketplace. The team directly shares how expensive transactions can be and the disadvantages it can cause for customers. The Ixinium team viewed Stellar as one of the fastest and most affordable crypto payment networks to date. In comparison, Stellar is estimated to allow over 20 million transactions of less than $ 100 with a transaction speed of 2-5 seconds.
Read more about iksin here
However, XXA is not limited to mobile transfers; The team also introduces staking in their ecosystem. Betting is becoming increasingly popular as a widespread feature in the decentralized world and is one of the most popular ways to earn multiple tokens. Users can participate in XXA autostay using any unsecured Stellar wallet as long as it allows adding trust lines. Users are then eligible for the reward as long as XXA is stored in the wallet. If you transfer XXA to another address, it will start receiving rewards instead of your account.
Communication with colleagues from networks
The team assures the community that the most important update to Stellar is coming, and that it may be what it takes to “take Ixinium to the next level”. Specifically, Stellar aims to unlock functions for decentralized financing (DeFi) and Automated Market Maker (AMM), which provide repurchase, liquidity pooling, coin flipping and lending functions for XXA.
The Ixinium team is also looking to expand development and production towards the Binance (BNB) and Ethereum (ETH) networks. There are currently plans to launch the Ixinium Finance DeFi app on the Binance network, which offers convenient customization of the commission structure, which may be more generous for liquidity providers. As for the Ethereum network, Ethereum XXA is also under development as a gold-backed token with stable supply and additional functionality.