XEN and the art of cryptocurrency distribution

<p>The last week has seen the XEN ERC20 token taking up the largest share of Ethereum transactions.</p> <p>So why should a humble token with no defined utility or extra whistles and bells be achieving that?</p> <p>The answer is that:</p> <p>🆓 the token is free to mint (except for gas)</p> <p>💰 there's no pre-mint,</p> <p>📉 for an added dash of FOMO, the first people claiming it get the most,</p> <p>🏦 it has staking (🚩),</p> <p>with a lot of provisos and some untested tokenomics behind it.</p> <p>In this video, I go through what XEN is, why it's different most of of the tokens out there, who is behind it, and how it implements a novel distribution mechanism.</p> <p>I only spent a morning investigating the contract, looking into the main founder, and playing with some of the tests to see if I could engineer any attacks on the contract (I couldn't).</p> <p>It's not a thorough audit, but it's more than most of the reporters out there commenting on this token will have done.</p> <p>In summary, I'm cautiously optimistic about the safety of this token (but use a new address if you interact with it, just to be sure).</p> <p>And as for whether it has legs?</p> <p>No idea. I only give technical and sometimes sociological explanations, not financial advice.</p>