XDEFI

What is XDEFI?

XDEFI Wallet stands as a cross-chain wallet extension, distinguishing itself as the sole wallet globally with built-in compatibility for THORChain, Ethereum, and various EVM networks, along with Terra.

Through XDEFI Wallet, users can:

• Receive, send, and securely store cryptocurrencies.
• Seamlessly connect to blockchain applications.
• Facilitate cryptocurrency exchanges.
• Effectively manage Non-Fungible Tokens (NFTs).

XDEFI Chain Abstraction

In the expanding landscape of blockchain networks, users are encountering the challenge of engaging with multiple networks simultaneously, leading to fragmentation and complicating the consolidation of digital asset portfolios. This results in a less-than-optimal user experience, requiring individuals to navigate between networks to access a comprehensive view of their assets, thereby restricting efficient asset management. To remedy this, XDEFI Wallet introduces a solution through a centralized landing page that abstracts the notion of chains, offering users a unified display of all assets irrespective of their native blockchain networks.

XDEFI Aggregated Balances

In the contemporary landscape, numerous assets coexist across multiple networks concurrently. For instance, USDC spans eight networks, USDT extends to five, and ETH is present on various chains. The predicament arises for wallet users, such as MetaMask users, who are compelled to navigate through distinct networks one by one, manually computing their cumulative balance. To tackle this issue, XDEFI Wallet consolidates token balances across diverse networks, offering a chain-specific breakdown that streamlines portfolio visualization. The advantages include an enhanced experience for self-custody wallet users, facile management of digital assets spanning multiple networks, and the swift visualization of the overall asset balance.

What Can You Do with The XDEFI Token?

$XDEFI token operates on a veModel, inspired by Curve, allowing holders to stake and earn a portion of XDEFI swap and bridge fees. Revenue generated from swaps, bridging, and staking is used to buy $XDEFI on the market, rewarding stakers. Staking rewards, initially supplemented by the XDEFI treasury, offer governance rights for voting on community proposals. Gas abstraction enables locking XDEFI tokens for covering transaction signing costs. Future plans include additional utilities for token holders, such as wallet customization and preferential access to specific XDEFI Campaigns.

XDEFI Team Background and Backers

Emile Dubié is the CEO and co-founder of XDEFI. Kevin Beardsley acts as the COO - he has experience working for big names such as Kraken in the past. Meanwhile, Jason Choi is the UX/UI Lead and Seán McGrath serves as the product lead.

XEDFI is backed by Mechanism Capital, Delphi Digital, DeFiance Capital, Morning Star Ventures, animoca Brands, CoinGecko, and Sino Global Capital.

XDEFI Project Development

XDEFI recently introduced Custom Networks via RPC. Now you can seamlessly access over 180 EVM and Cosmos networks with your XDEFI Wallet.

Adding a network is a breeze: 1️⃣ Navigate to 'Settings' > 'Network settings' 2️⃣ Click on the ➕ to incorporate a custom network 3️⃣ Choose between EVM or Cosmos 4️⃣ Add a network from the provided list or input the details manually

If you can't find your network on the list, you casn still add the network's chain ID, network name, RPC URL, and currency symbol manually.

XDEFI Price Analysis

As of November 24 2024 XDEFI has a marketcap of $9.7M. This is {{percentagefromath}} from its all time high of $2.37. In terms of its tokenomics, there's a total supply of 240M with 54% currently outstanding. Keep in mind XDEFI has a fully diluted value of $18M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude