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first_img The perpetual contract platform Extended announced the XTEN token economy

The team behind Revolut has launched the perpetual contract platform Extended and released the XTEN token economic description. XTEN is the native token of the Extended ecosystem, with a maximum supply of 1 billion tokens, minted all at once at genesis, and the supply cap cannot be increased. The community airdrop allocates 300 million tokens, accounting for 30% of the total supply, which will be fully unlocked at the Token Generation Event (TGE). The portion unlocked at TGE accounts for approximately 32.9% of the total supply, with a maximum circulating supply of 30% of the total. XTEN staking will go live simultaneously with TGE, with League level thresholds starting from 500 XTEN.Founders, team members, and investors will collectively receive 500 million tokens, which will not be unlocked before the end of a 12-month cliff period. After the cliff period, the founders and team will release tokens linearly in 36 equal installments from the 13th month to the 48th month; investors will unlock 25% in the 12th month, with the remaining 75% released monthly until the 48th month. The ecosystem allocation is 200 million tokens, of which 150 million will enter the emission reserve as the sole source of staking rewards, and emissions will stop once this reserve is exhausted; 50 million tokens will be allocated to the ecosystem fund, with 28.589286 million tokens unlocked at TGE but stored in a public wallet, with further announcements to be made before deployment. In the community allocation, 17.384355 million tokens correspond to the internal market-making platform of the operating entity X10 Ltd., obtained according to the points system, and the tokens are owned by X10 Ltd.To receive the airdrop, users must sign the terms within the app; the signing window will be announced separately, and any unaccepted allocations before the window closes will be transferred to the ecosystem fund. The staking balance determines the discount on transaction fees, additional yield multipliers for the Vault, deposit limits, and alliance revenue multipliers, with staking discounts ranging from 5% for Pawn tier to 30% for King tier. Unstaking will have a 7-day queue, during which no rewards will be counted, and it will not affect the level. XTEN will natively support Circle's CCTP, and Extended claims it is the first third-party token to launch on Arc with native CCTP support. Due to considerations related to MiCA, XTEN will not be available for EU users on Extended at the time of spot launch, but European point holders can still claim, hold, stake, and transfer. The TGE date, claiming window, and emission schedule will be announced separately, with the issuer being Extended Ecosystem Limited, and the white paper has been reported to the Cyprus Securities and Exchange Commission (CySEC).

first_img Launch platform Ignition: Former members sell 15 million tokens

The official account of the token launch platform Ignition on Robinhood Chain stated that the team provided an explanation after being silent for about a week. On October 23, a team member with access to the developer wallet (0x7d17...69B9) transferred 15 million IGNITION from that wallet to a new wallet without the consent of the other members and sold it seconds later. The proceeds were sent to their personal wallet, which had previously been receiving their share of creator fees. The official statement indicated that this person no longer agrees with the project's direction and is no longer part of the project.The official statement mentioned that the creator fee permissions have been transferred to a new wallet that is solely controlled by the existing team. The launch platform is still operational, the Hook Layer testnet continues to run, and the Hook Pad for developers remains open. Future plans include transferring creator fees to a multi-signature wallet controlled by the team to prevent a single person from transferring again; publicly disclosing the fee, treasury, and team wallet lists; advancing the Hook Layer mainnet; and resuming weekly updates. The official also stated that related operations had previously been visible on-chain and will be explained by the team in advance.According to the project's official website, Ignition is a token launch platform deployed on Robinhood Chain, with issued tokens being ERC20 with a fixed supply, trading in the Uniswap v4 pool since the initial block. Hook Layer is its proprietary chain built on Robinhood Chain, with gas fees paid in IGNITION, and developers can configure hook modules for tokens through Hook Pad.
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