X2Y2 update: X2Y2 Live price, price chart, news and markets

The X2Y2 price update as of now is $0.004925. In the previous 24 hours, its trading volume was $128,746, and its value has decreased by -0.96%. As of now, X2Y2's live market cap is $4,136,325, and it is ranked as the #4567 on the Coincu. X2Y2 has a circulating supply of 999,944,302 and a maximum supply of 999,944,302.

X2Y2: A Decentralized NFT Marketplace Revolution

Welcome to X2Y2, a decentralized NFT marketplace that revolutionizes the buying and selling of NFTs within the creative community.

Unique Advantages of X2Y2

X2Y2 distinguishes itself from other NFT platforms through the following remarkable features:

• Avoidance of token sale to large investors, ensuring a fair launch for all users.
• Direct Liquidity bootstrapping from the Initial Liquidity Offering (ILO), permanently locked for sustainable liquidity creation.
• Market Fee Sharing where 100% of market fees collected reward X2Y2 stakers.

X2Y2 aims to address and enhance the limitations found in other NFT projects, which include:

• List multiple NFTs on the platform with a single transaction, reducing costs for users.
• Enable users to purchase multiple NFTs, thereby reducing fees.
• Real-time activity notifications on items available for sale, optimizing user engagement.
• Recognition of rare NFT features without requiring additional applications, ensuring enhanced wallet security.

Motivating Factors Behind X2Y2

Following the peak of the NFT bubble in 2021, OpenSea emerged as the dominant NFT trading market, accounting for over 90% of NFT transactions. However, OpenSea encountered several issues, including:

Excessive system downtime causing disruptions throughout the industry.

• Centralized management model resulting in arbitrary retention of users' assets.
• Collaboration with Silicon Valley and Wall Street investors to share significant profits from community-contributed transaction fees.

In late 2021, OpenDAO and LooksRare emerged as challengers to OpenSea's monopoly. Nevertheless, LooksRare also faced significant challenges, such as:

Preference for whales over users: LooksRare focused solely on 20% of OpenSea's nearly 900,000 users with transactions over 3 ETH for an Airdrop, ignoring the remaining NFT users.

• Lack of transparency: LooksRare allocated 3.3% of LOOKS Tokens to strategic investors at a non-public price prior to its public launch, similar to OpenSea's deals with investors from Silicon Valley and Wall Street.
• Market Manipulation through Wash Trading, diluting average user rewards and favoring a small group of financially and technologically superior whales.

Innovative Solutions by X2Y2

X2Y2 presents distinct solutions to the problems encountered by LooksRare in terms of Tokenomics:

Inclusive Airdrops:

• The X2Y2 Snapshot at Ethereum block #13916166 will include all OpenSea users engaged in trading.
• Airdrops will have no expiration date, ensuring inclusivity for all eligible users.

No Private Sale:

• X2Y2 will conduct an Initial Liquidity Offering.
• The ETH obtained from the sale will be utilized to provide initial liquidity on Uniswap. All LP tokens received through liquidity addition will be permanently locked by burning.
• No Private Sale round will take place, promoting fairness and transparency.

No trading rewards and Wash Trading:

• X2Y2 will not offer trading rewards, focusing solely on staking rewards.
• Stakers will receive daily X2Y2 rewards and a share of the previous day's processing fee (with a fee rate of 2%).
• This mechanism guarantees greater and longer-lasting profits for X2Y2 miners compared to conventional mining practices.