I’d love some more brains on this. There appears to be a lot of moving pieces and I’m not quite sure if they are related, interconnected, or if they are just individual bites of news. For full disclosure, I own 0.64 xFUND and I’m trying to figure out if this could be a bigger play or if it’s just a grab-n-go, profit-type project for me. Thing is: The project’s products I’m not very educated about (Oracles, NFTs and how they work, stuff like that) so I was hoping for discussion / corrections from people that know a bit more.
Project Looks Unique
So, the contract that runs the xFUND ERC20 token appears to be unique and legitimate. It’s not just a quick copy of some Baby Inu Cum Porn coin (That’s a sentence I didn’t think I would ever write): https://tokensniffer.com/token/0x892a6f9df0147e5f079b0993f486f9aca3c87881.
In addition, they also have the FUND native coin which appears to be unique as well: https://explorer.unification.io/
Connection to ChainLink or Competitors?
xFUND aims to compete with LINK. If it tickles your fancy, they will DESTROY, KILL, AND/OR ANNIHILATE ChainLink, but in my opinion, all they need to do is become competitive in the space to hold their own (don’t tell that to the xFUND Rangers; they’ll go apeshit lol). There’s room for more than one car manufacturer—same idea in this industry.
At the very least, the CEO of xFUND (Neyma Jahan) is respected to the same degree on technical understanding as Chainlink’s CEO (Sergey Nazarov) because they conducted a few discussion panels together: https://medium.com/@bitsclubPCTA/blockchain-technology-innovation-and-policy-reform-presented-by-the-public-chain-technology-f2039134e513 (the second image is the two CEOs). And here he is at the Blockchain Summit: https://www.youtube.com/watch?v=t5CvX6xDclY . Here he is quoted on Forbes.com: https://www.forbes.com/sites/darrynpollock/2019/04/26/brazilian-medical-records-getting-blockchain-boost-may-be-the-route-to-digital-identity-adoption/?sh=74c664a17b86
Point is: Neyma is doxxed, respected in the industry, and seems to be in some of the “inner circles” or networks of some big-name projects.
Availability & Supply
xFUND is only available on DEXs right now, not on any big exchanges like Binance or Coinbase. It’s on Uniswap and ShibaSwap (I’ll get to ShibaSwap in a moment). It has decent volume and plenty of liquidity (lots of trades and enough available for buys/sells that a $500 buy doesn’t move the price some ridiculously large amount like 25%).
Token Supply Breakdown
7100 Circulating Supply
8880 Max Supply
Max Supply will be reached in July 2022
It appears to be a fair distribution. Every day, 12 xFUND is emitted to the FUND validator nodes randomly here: https://xfund.unification.io/. The supply rate goes through a halving event kind of like BTC: https://medium.com/unificationfoundation/xfund-to-reduce-emissions-and-establish-final-market-supply-of-8880-45c9b1e26ef4 . It started at 24 per day and was just recently reduced to 12. In October, it’ll be reduced again to 6 per day.
On top of that, xFUND team provides staking rewards for straight staking of xFUND as well as LP staking, so the distribution gets further spread among holders. The top wallets are staking wallets, all the others are reasonably positioned: