XNO Token use case
Dear Xeno Community members!
The Xeno team has been putting a lot of effort in the last few weeks to upgrade the Xeno Marketplace platform and we are thrilled to announce the implementation of the first use case of XNO tokens.
Starting next week, XNO tokens (along with USDC and USDT) will be available for Marketplace trading. XNO will now be the primarily supported currency on the Xeno Marketplace allowing all current XNO holders to gain the first big benefit from XNO. While USDC, USDT, and ETH are available to create and bid in NFT listings as well, using XNO tokens for listing and bidding brings a 20% reduced fee.
This is the very first step of building an XNO centric ecosystem. Upcoming upgrades include:
- enable royalty sharing for Xeno NFT creators (these royalties are already being tracked and accumulated but will be claimable in the user interface soon), allowing Xeno NFT creators to enjoy 20% royalties on all Marketplace listings for the lifetime of their created items.
- Xeno partnered accounts for trusted creators
All in advance of our Substrate testnet launch which will pave the way for even more functionality and fee reduction along with the implementation of ecosystem governance voting and distribution of ecosystem incentive rewards.
Our current move to quickly integrate XNO tokens in the Xeno Marketplace is part of our wider push to make the Xeno ecosystem healthier and expand the use of XNO tokens gradually and sustainably.
Please stay tuned for more progress announcements as well as announcements for our many planned events and ecosystem incentive programs in the coming weeks.
The Xeno Team