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₹ 153.24 M -0.8395%
Circulating Supply
413721000000000
Max Supply
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Volume
₹ 13.35 M
All Time High :
₹ 0.0305
All Time Low :
₹ 0
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XEN Crypto (XEN) is an ERC-20 token launched on Ethereum on October 8, 2022 by the Fair Crypto Foundation, led by former Google engineer Jack Levin. Its defining feature is that anyone can mint XEN for free, paying only network gas, through a mechanism the project calls Proof of Participation. There was no pre-mine, no team allocation, no investor round, and the contract is immutable with no admin keys. Rewards are determined by when you join (your "claim rank"), how long you commit (your "term"), and a time-decaying amplifier, which means early participants earned far more per mint than later ones. XEN has since been deployed on more than a dozen EVM chains and, via solXEN, on Solana. In October 2025 the ecosystem's long-promised Layer-1, the X1 blockchain, launched mainnet with more than 1,000 validators and a native gas token, XNT, which XEN holders can obtain by burning XEN. As of September 2026, XEN trades at roughly $0.0000000048 with a market capitalization near $1.9 million and over 560,000 holders on Ethereum.
XEN Crypto describes itself as a "community-building crypto asset" built on the first principles of Satoshi Nakamoto's Bitcoin white paper: self-custody, trust through consensus, transparency, and decentralization. Where Bitcoin distributes new coins to miners who spend electricity, XEN distributes new tokens to anyone willing to sign a transaction and wait.
The project's core claim is that it has the lowest possible barrier to entry in crypto. There is nothing to buy, no whitelist, and no allocation to insiders. A wallet with enough ETH for gas can call the contract's claimRank function, choose a term length, and return after that term to receive freshly minted XEN. The number of tokens received depends on a transparent formula that anyone can verify on-chain.
Jack Levin has repeatedly framed XEN as an educational tool as much as an asset: a way for hundreds of thousands of people to experience minting, self-custody, and interacting with an immutable smart contract firsthand. The project's stated slogan is "the people's crypto," and its documentation emphasizes that 100% of liquid XEN supply was minted by the community.
XEN is deliberately simple. The Ethereum contract is roughly 400 lines of code, has been audited, carries no upgrade path, and cannot be paused or modified. This simplicity is both its strength (no rug-pull surface) and, as critics note, its limitation (no built-in utility beyond minting, staking, and burning).
Jack Levin is a Silicon Valley engineer and entrepreneur best known as Google employee #21. He served as Google's first network architecture engineer from 1999 to 2005, working on the distributed systems that underpinned the company's early infrastructure. He later founded ImageShack and has been a Bitcoin miner since 2011.
Levin created the Fair Crypto Foundation to launch XEN in 2022. Unlike most crypto founders, he is fully public, active on X as @mrJackLevin, and has given extensive interviews (including a widely shared AMA with Poloniex and a 2024 appearance on The Index podcast) explaining the project's design. He has stated that XEN was built by a four-person team and that its community grew to over a million wallets across chains.
In January 2023, Levin announced X1, a Layer-1 blockchain intended to unite XEN communities scattered across a dozen chains. He now leads X1 development as founder of x1.xyz, and much of the XEN ecosystem's 2025–2026 activity centers on that chain.
XEN's minting model is its central innovation. It is called Proof of Participation because the only thing a participant contributes is a transaction and time.
When a wallet calls claimRank(term), the contract assigns it a sequential number called a claim rank (cRank). The first minter received rank 1; each subsequent minter received the next integer. Global rank is the total number of wallets that have ever claimed. Your reward depends on the gap between the global rank at the time you mint and your own rank: the earlier you joined, the bigger the gap, and the more you earn.
The term is the number of days you commit to wait before minting. At launch the maximum term was 100 days; the contract allows the maximum to grow slowly over time. Longer terms yield proportionally more XEN.
After the term expires, calling claimMintReward mints XEN to your wallet. Rewards are calculated roughly as:
Reward = log2(globalRank − cRank) × term × AMP × (1 + EAA)
Where:
AMP (Reward Amplifier) started at 3,000 at launch and decreases by 1 every day until it reaches a floor of 1. This is the primary mechanism that made early mints vastly more rewarding than later ones.
EAA (Early Adopter Amplifier) started at 10% and declined by 0.1% for every 100,000 claim ranks until it reached zero.
Because AMP was 3,000 in October 2022 and declined daily, a 100-day mint in the first week could yield hundreds of millions of XEN, whereas the same mint in 2026 (with AMP near its floor) yields a tiny fraction of that. This is by design: the contract front-loads rewards to bootstrap participation, then tapers toward a low steady-state issuance.
Because each wallet can hold only one active mint at a time, the project introduced XENFTs (ERC-721 tokens) that let a single transaction open up to 128 virtual mints, tracked inside the NFT. This dramatically reduced the gas cost per mint and created a tradable representation of pending XEN rewards.
XEN has no maximum supply. New tokens are created whenever a mint matures. However, because AMP decays to 1 and the log2 term grows slowly, the rate of new issuance has fallen sharply since 2022. The Ethereum deployment stood at roughly 398 trillion XEN in September 2026, up only marginally from mid-2026, indicating that new minting is now a small fraction of supply.
Different trackers report different circulating figures (333 trillion on OKX, 365 trillion on Bybit, 390 trillion on CoinGecko, 398 trillion on CoinMarketCap) because XEN's supply is dynamic, the token exists on many chains, and burned tokens are treated differently across platforms. Readers should treat any single supply figure as approximate.
Three mechanisms permanently remove XEN from circulation:
XEN Proof of Burn: An open interface that lets any project burn XEN in exchange for its own tokens. Projects such as DBXen, FENIX, NEX, and VMPX built on this, burning trillions of XEN.
X1 onboarding: The XDEX bridge and XNT burn contract let users burn XEN to obtain XNT, the X1 gas token, permanently destroying the XEN.
Staking penalties: Withdrawing a stake before term forfeits rewards, and late mint claims incur penalties that reduce effective issuance.
Each chain deployment has its own independent supply and claim-rank sequence. The Ethereum deployment is the largest and the one tracked by major price aggregators; BNB Chain, Polygon, and PulseChain XEN have separate markets and prices.
Beyond minting, XEN holders can stake tokens directly in the contract. Staking terms range from 1 to 1,000 days. The APY started at 20% at launch and declines by 1 percentage point every 90 days until it reaches a floor of 2%. By late 2026, the on-contract APY has fallen to the low single digits.
Rewards are paid in newly minted XEN at the end of the term. Withdrawing early returns the principal but forfeits all rewards. Because staking mints new tokens, it is technically inflationary, but the low and declining rate limits its impact.
Staking XENFTs, introduced later, let users create tradable NFT positions representing staked XEN, and were one of the eligibility criteria for early X1 testnet token airdrops.
XENFTs (also called XEN Torrent) are ERC-721 tokens that bundle up to 128 virtual mints. Special classes, Apex and Limited XENFTs, required burning XEN to mint and carried higher reward multipliers. Holders of Apex and Limited XENFTs, along with those who burned XEN for NEX or FENIX or minted Staking XENFTs, were named as recipients of X1 testnet token airdrops.
A permissionless burn interface that any developer can integrate. It made XEN the "raw material" for a wave of derivative projects (DBXen, FENIX, NEX, XNM) and is the mechanism by which XEN feeds into X1.
XenBlocks is a proof-of-work mining protocol using the Argon2id hashing algorithm, chosen for memory hardness, quantum resistance, and energy efficiency relative to SHA-256. Miners earn XNM (Xenium), XUNI, and X.BLK. XenBlocks was designed to merge with X1's proof-of-stake consensus, and XNM can be staked on X1.
VMPX was launched as a BRC-20 token on Bitcoin and an ERC-20 on Ethereum, intended as a bridge liquidity asset between Bitcoin and the X1/EVM ecosystems. Burning VMPX was another route to XNT allocation.
solXEN brought XEN-style minting to Solana with a proof-of-work twist, giving the community an SVM-native asset ahead of X1's SVM-based design.
XEN's contract was deployed on more than a dozen chains including BNB Chain, Polygon, Avalanche, Ethereum PoW, Moonbeam, Evmos, Fantom, Dogechain, OKX Chain, PulseChain, Base, and Optimism. Each is an independent instance with its own rank sequence and supply.
X1 is a monolithic Layer-1 blockchain with full Solana Virtual Machine (SVM) compatibility, meaning any Solana program can deploy on X1 without code changes. Jack Levin announced it on January 23, 2023, as a way to unite XEN communities from every chain on a single high-performance network. Its stated goals are low cost, high throughput, censorship resistance, and "freedom to transact."
Consensus: Delegated proof-of-stake with performance-weighted leader selection; earlier designs described a hybrid PoW/PoS model integrating XenBlocks' Argon2id mining.
Codebase lineage: X1 evolved through Devnet (January 2022), Fastnet, and Xolana, a fork of Solana's codebase that achieved over 50,000 transactions per second in testing and processed nearly 10 billion testnet transactions.
Fee model: Dynamic, congestion-reflective base fees and a global fee market.
Roadmap features: Homomorphic encryption for privacy, SVM capacity scaling, validator subcommittees, and "zero-cost vote" mechanics to lower validator barriers.
Hardware requirements: 12+ cores, 128 GB RAM, 4 TB NVMe for validators.
XNT is X1's gas and staking token. There is no premine or sale. XNT is distributed through:
Incentivized testnet rewards: Validators earned credits for producing and voting on blocks; 50,000 credits converted to 1 XNT at mainnet. 10% was claimable at genesis, and 90% vests over 365 days contingent on continued validator operation.
Burning XEN and VMPX: The XDEX bridge lets users burn XEN to mint XNT directly to their X1 wallet.
Staking rewards: XNT holders delegate to validators (typical commission 10%) and earn protocol inflation plus a share of transaction fees.
X1 launched mainnet on October 6, 2025, with more than 1,000 validators participating at launch, an unusually high count for a new chain. Official documentation notes validators "validate for free," paying only server costs, and receive early-adoption rewards.
XEN launched on Ethereum with no announcement beyond Levin's social channels. Within 24 hours, minters had burned roughly $1.85 million in ETH gas, and XEN became the single largest gas consumer on Ethereum for several days, briefly making the network deflationary. Crypto media covered it as one of the most viral fair launches ever.
XEN opened trading around $0.006148 on October 9 and printed its all-time high near $0.006 within a day. With early mints yielding hundreds of millions of tokens, sell pressure was immediate and immense. The price fell more than 90% within weeks.
The contract was deployed to BNB Chain, Polygon, Avalanche, Ethereum PoW, and others through Q4 2022. XENFTs launched to reduce mint costs and created a secondary market for pending rewards.
Levin revealed plans for a Layer-1 to consolidate the fragmented XEN community. Initial designs targeted an EVM chain built on Polygon Edge with a Q1 2024 launch.
The burn interface spawned DBXen, FENIX, and NEX. VMPX launched as a BRC-20 during the Ordinals boom. The community ran a "XEN Moon Party" campaign encouraging holders to burn XEN for X1 testnet tokens.
X1 pivoted from an EVM design to a Solana fork (Xolana), citing performance. The Fastnet and Xolana testnets ran through 2024 with ~150 validators and billions of transactions. XenBlocks PoW mining launched.
X1 published its whitepaper, ran an incentivized testnet with validator credits, and launched mainnet on October 6, 2025 with 1,000+ validators.
XEN's price drifted to a new all-time low in August 2026 as attention shifted to XNT and X1, while XEN's role became primarily that of a burn asset for X1 onboarding.
XEN's differentiators are its genuinely zero-allocation launch, its immutable minimal contract, and its evolution into a burn-to-migrate asset for a live Layer-1. Its principal weaknesses are unbounded supply and an issuance schedule that heavily favored the first weeks of minting.
Fund a wallet (MetaMask, Rabby, Ledger) with ETH for gas.
Visit the official minting interface at xen.network and connect your wallet.
Choose a term (up to the current maximum) and confirm claimRank.
Return after the term ends and confirm claimMintReward to receive XEN.
To mint in bulk, use the XENFT interface to open up to 128 mints in one transaction.
Minting on lower-fee chains (Polygon, BNB Chain, Base) costs far less in gas but produces that chain's XEN, not Ethereum XEN.
Centralized exchanges: MEXC (the highest-volume venue per CoinGecko), Bitget, Poloniex, OKX, and Gate list XEN/USDT.
Decentralized exchanges: Uniswap on Ethereum; PancakeSwap for BNB Chain XEN; QuickSwap for Polygon XEN.
Verify the Ethereum contract (0x06450dee7fd2fb8e39061434babcfc05599a6fb8) before trading.
Any EVM-compatible wallet. Hardware wallets via MetaMask are recommended for long-term holdings.
On xen.network, select Stake, enter an amount and a term (1–1,000 days), and confirm. Rewards accrue at the current declining APY and are paid at term end.
Use the XDEX bridge or the XNT burn contract on X1 to burn Ethereum XEN and receive XNT on X1. Fees on the bridge are discounted when paid in XEN.
Informational only. Not financial advice.
Market cap: roughly $1.5–1.9 million depending on the supply figure used.
Daily volume: typically $100,000–$200,000, with MEXC's XEN/USDT pair the most active.
Holders: about 562,770 on Ethereum (CoinMarketCap), among the largest holder bases of any micro-cap token.
Drawdown from ATH: effectively 100% (roughly 99.9999%).
Recovery from ATL: about 34% as of early September 2026.
XEN's price is shaped by continuous low-level sell pressure from maturing mints and stakes, offset by burns for X1 onboarding and derivative projects. Broader altcoin sentiment and X1 ecosystem news are the main external catalysts. The token's extremely low unit price and enormous supply make percentage moves large but dollar volumes small.
The XEN ecosystem's news flow in this period is dominated by the X1 blockchain reaching mainnet and the resulting shift in XEN's role from a standalone mint token to the primary burn asset for a live Layer-1.
X1 published its validator reward framework ahead of mainnet. Validators who ran nodes during the incentivized testnet accumulated credits for every block vote, and the conversion was set at 50,000 credits per XNT. Ten percent of earned XNT was made claimable at genesis so validators could stake immediately, with the remaining 90% locked for 365 days and vesting proportionally to continued validator uptime. Validators who went offline early would unlock only a proportional share, and unvested tokens were routed to the X1 Stake Pool Delegation Program to keep earning. The design was intended to launch mainnet with strong decentralization from day one.
X1 launched mainnet on October 6, 2025. Official documentation reports more than 1,000 validators participating, a figure that far exceeded the ~150 validators on the Xolana testnet a year earlier. Validators migrated from testnet by clearing old ledgers, creating stake accounts, and delegating XNT, with Ledger hardware-wallet support for withdraw authority documented from launch. The chain went live with full SVM compatibility, allowing Solana programs to deploy unchanged.
XEN marked three years since its October 8, 2022 launch in the same week X1 mainnet went live, a coincidence the community framed as the culmination of the original "unite the chains" vision from January 2023.
X1 docs updated in December 2025 detailed the delegated proof-of-stake reward model: validators earn protocol inflation weighted by delegated stake, transaction fees go to block leaders, and validator commission typically sits around 10%. Performance-weighted leader selection (with an "ACP" upgrade on the roadmap) rewards high-uptime nodes. These documents established XNT's yield characteristics for delegators.
Community developers released a wave of X1 tools, including validator dashboards, staking interfaces, RPC health monitors, token launchers, and a wallet utility for the Xolana CLI. X1 Ninja published an XNT utilities hub covering validator comparison, delegation, holder exports, and multi-source price feeds for BTC, ETH, SOL, and HYPE on X1. The community-maintained X1 Wiki on GitHub cataloged dozens of XEN and X1 tools across chains.
MEXC data placed XEN at $0.0000000069 in mid-March 2026, with total Ethereum supply around 283 trillion by MEXC's count and an FDV of $1.95 million. The Crypto Fear & Greed Index sat at 14 ("extreme fear") the same week, weighing on all micro-caps.
XDEX documentation describes a cross-chain bridge to X1 supporting Solana, Ethereum, and BNB Chain, with fees payable in XEN at a discount and an optional step to burn XEN and receive XNT directly during the bridge transaction. A portion of XEN fees is permanently burned. This is the clearest mechanism linking XEN demand to X1 adoption.
Bitget, OKX, and CoinDesk snapshots show XEN declining from about $0.0000000066 in late May to $0.0000000057 on June 18 and $0.0000000046 on June 30. OKX reported roughly 183,000 holders on its tracked deployment and daily volume of only $25,000 on its venue, indicating thin liquidity.
Bybit recorded XEN at $0.0000000043 with a market cap of $1.56 million and rank #2,353. Bybit's analysis noted short-term rebound momentum but said the bottom structure still required volume confirmation.
CoinMarketCap logged XEN's all-time low at approximately $0.0000000034 on August 3, 2026, nearly four years after launch. Crypto.com data around the same period showed a single-day drop of 15%. The new low came as broader meme and micro-cap sectors sold off and as XEN burns for XNT continued to reduce, but not offset, sell pressure from maturing mints.
CoinGecko's third-party security assessment rated XEN at 82.86%, with a 30-day range of 80.77–82.86%, reflecting the immutable, audited contract. CertiK's rating stands at 4.1.
By early September, XEN had recovered roughly 34% from its August low to around $0.0000000048, with CoinMarketCap reporting 562,770 holders and a $1.89 million market cap. Total Ethereum supply had reached about 398 trillion. Volume-to-market-cap sat near 7%, healthy for a token of its size.
October 6, 2026: X1's first mainnet anniversary and the 365-day validator vesting unlock. The 90% vested XNT allocations from the incentivized testnet become claimable, a significant supply event for XNT.
October 8, 2026: XEN's fourth anniversary.
XNT exchange listings. Broader XNT availability would create a clearer arbitrage path from burning XEN.
X1 roadmap items: homomorphic encryption, validator subcommittees, and ACP performance weighting.
XEN burn volume via XDEX as the most direct on-chain indicator of X1 adoption.
The Fair Crypto Foundation does not run paid advertising. Its promotional approach has always been founder-led, community-amplified, and tied to on-chain participation mechanics.
Jack Levin is the primary marketing channel. His X account, livestreams, and interviews (the Poloniex "People's Crypto" AMA, the Everything SVM livestream, The Index podcast in October 2024) function as the project's press office. His Google-#21 credential is a recurring hook in third-party coverage.
Like Bitcoin, XEN's growth engine is its distribution. The free mint drove the October 2022 gas war that generated global headlines without a marketing budget. The X1 incentivized testnet repeated the pattern: recruiting 1,000+ validators through credit-based XNT rewards rather than airdrop farming.
XEN Moon Party (April 2023): A community push encouraging holders to burn XEN for X1 testnet tokens, seeding early X1 participation.
"Validate for free" (2025): X1's launch messaging emphasized that validators pay only for servers, lowering the entry barrier and producing the unusually large validator set.
Airdrop eligibility for early adopters: Holders of Apex and Limited XENFTs, NEX and FENIX burners, and Staking XENFT minters were promised X1 allocations, rewarding the most committed 2022–2023 participants.
An unusually large volunteer ecosystem surrounds XEN: mint trackers (xen.pub, xenturbo.io, xenmon.com), statistics sites, bubble maps, the solXEN leaderboard, X1 validator consoles, and the X1 Wiki on GitHub. This grassroots tooling sustains engagement between official announcements.
Educational pieces from CoinCarp, Bitget, Poloniex, and Capital.com, along with price-prediction content from Changelly and others, provide steady organic visibility. Coverage since late 2024 has focused almost entirely on X1 as the catalyst narrative.
Unbounded supply: XEN has no hard cap, and maturing mints and stakes create continuous sell pressure.
Extreme drawdown: The token is down effectively 100% from its 2022 high and hit a new all-time low in August 2026.
Thin liquidity: Daily volume of $100,000–$200,000 across all venues makes large positions difficult to exit.
Value migration to XNT: As X1 matures, economic activity may concentrate in XNT, with XEN serving mainly as a burn input. This could support XEN through burns or marginalize it, depending on adoption.
Founder dependency: The ecosystem's direction is tied to Jack Levin and a very small core team.
Multi-chain fragmentation: XEN on other chains trades independently; buying the wrong deployment is a common mistake.
Validator unlock overhang (October 2026): The 365-day XNT vesting cliff could increase XNT supply and indirectly affect XEN burn economics.
This article is for informational purposes only and does not constitute financial, investment, or legal advice.
XEN is an ERC-20 token launched October 8, 2022 by the Fair Crypto Foundation. Anyone can mint it for free (gas only) through Proof of Participation. It has no pre-mine, no team allocation, and an immutable contract.
Jack Levin, Google's 21st employee and first network architecture engineer, through the Fair Crypto Foundation.
Connect a wallet at xen.network, call claimRank with a chosen term, wait for the term to end, then call claimMintReward. XENFTs allow up to 128 mints in one transaction.
The Reward Amplifier has decayed to near its floor of 1, so mint yields are a tiny fraction of 2022 levels. On Ethereum, gas typically exceeds the value of minted XEN; low-fee chains are cheaper but produce that chain's XEN.
Ethereum: 0x06450dee7fd2fb8e39061434babcfc05599a6fb8.
No. Issuance continues but has slowed dramatically due to the decaying amplifier. Ethereum supply was about 398 trillion in September 2026.
X1 is an SVM-compatible Layer-1 founded by Jack Levin to unite XEN communities. Mainnet launched October 6, 2025 with 1,000+ validators. Its native token is XNT.
By running an X1 validator, delegating XNT to earn staking rewards, or burning XEN (or VMPX) via the XDEX bridge or XNT burn contract.
XEN is the original free-mint token on Ethereum and other chains. XNT is the native gas and staking token of the X1 blockchain, obtainable by burning XEN.
About $0.006 on October 9–10, 2022, immediately after launch.
Roughly $0.0000000048 in early September 2026, with a market cap near $1.9 million. It set an all-time low of about $0.0000000034 on August 3, 2026.
Yes, directly in the contract for 1–1,000 days. APY started at 20% and declines 1 point every 90 days to a 2% floor.
ERC-721 tokens that bundle up to 128 XEN mints, cutting gas costs and making pending rewards tradable.
A proof-of-work mining protocol using Argon2id that produces XNM, XUNI, and X.BLK tokens; XNM can be staked on X1.
XEN's contract is immutable, audited, and has no admin keys or pre-mine, so it cannot be rug-pulled. It is, however, a highly speculative asset with unbounded supply and a near-total drawdown from its peak.
MEXC, Bitget, Poloniex, OKX, Gate, and Uniswap.
