X2024 gameplay simple introduction for newcomers 🔥🔥🔥
Total supply of X2024: 20.24 million coins
▪️ All 20.24 million coins will be added to the BNB pool, with 0 reserved. After going online, coins cannot be directly bought from the BNB pool. The contract will release a total coin quantity of 0.96% daily from the BNB pool and distribute it to LP users in real-time based on block updates.
I. Coins in the BNB pool as a mining pool cannot be bought, only sold. So how to add LP?
▪️ The X2024 contract achieves this through technological innovation: transferring BNB to the contract will grant you the LP certificate X2024LP.
▪️ If a user transfers 1 BNB to the contract, the contract automatically executes 0.5 BNB to buy coins from the pool + 0.5 BNB to add liquidity, and the LP tokens obtained are sent to the user's wallet (saving the user the tedious process and time of adding liquidity). After receiving the LP token X2024LP, you can enjoy real-time mining dividends.
II. Will selling the coins mined from LP into the BNB pool lead to a price drop, causing a death spiral?
▪️ The BNB pool will burn a total coin quantity of 1.44% daily, and release a total coin quantity of 0.96% as dividends to LP users daily.
Using a bottom pool example (100,000 coins + 100,000 USDT) with a coin price of 1 USDT:
Daily total coin quantity burned 1.44% + 0.96% LP dividends, the total coin quantity of the bottom pool decreases by 2.4%, leading to a remaining total coin quantity (97,600 coins + 100,000 USDT) with a price of 1.0245 USDT, an increase of 2.45%
【LP users received dividends of 0.96% of the total coin quantity, 960 coins sold into the pool, total coin quantity in the pool (97,600 + 960) = 98,560 coins, pool USDT quantity (100,000 - 960✖️1.024 USDT) = 99,017 USDT; at this time, pool (98,560 coins + 99,017 USDT) coin price is 1.005 USDT】
▪️ Therefore, the conclusion is that not counting the daily incoming LP funds, even if LP users sell the coins received as dividends every day, the coin price does not drop but instead increases, perfectly solving the death spiral caused by price drops in past DeFi projects.
▪️ In the later stages, the USDT pool will act as a secondary market, and the coin price will always be higher than the price in the BNB pool. LP users can choose to sell the coins received as dividends into the USDT pool, so that in the case where no one sells coins in the BNB pool, the coin price will increase at least 2.45% daily plus incoming funds will increase it even faster.
Leave your BNB address, and I will transfer X2024 to you, let’s set sail together!