[ Announcement ]
Roadmap to TGE
We are excited to share with you today the beginning of our ambitious plan and our roadmap for 2024!
This roadmap includes major milestones for Xenea to gain market share, such as the release of products and public mainnet launch leading up to the Token Generation Event (TGE). Our soon to begin campaign will provide an opportunity to visualize market acquisition in clear numerical indicators.
Furthermore, the plan we are releasing today will serve as the technological foundation for the years to come, based on which technology that will significantly advance the current era of decentralized storage will be released.
Please keep your eyes on Xenea's technological innovations and future development updates.
September 2024: Launch of Xenea Wallet Marketing Campaign
We will launch the largest campaign in our project's history and release the Xenea Wallet, our first product following our brand update. Xenea Wallet will function as a reward app for the first three months after release, allowing users to participate in various missions, experience and learn about web3 and Xenea, and earn rewards.
The main objective of this campaign is to gather more network participants. Participants can earn rewards based on their level of contribution, and as more users join our chain, Xenea can secure more robust security.
The security of our chain is ensured by our unique consensus mechanism, Proof of Democracy (PoD, formerly known as Voting Proof of Work), and its strength grows more robust with the increase in participating wallets. Eventually, users with high contribution levels will be able to participate in PoD preferentially, so we recommend participating in the campaign from the early stages.
Please wait for a separate announcement to be released for details on the Xenea Wallet campaign.
Q4 2024: Xenea Wallet Phase 2
After the Xenea Wallet campaign, we will transition Xenea Wallet to Phase 2. In Phase 2, a web3 wallet will be incorporated, allowing users to connect with Rep Nodes and participate in PoD, switching to a specification where participants can receive incentives through mining. Actual participation in PoD will begin after the TGE.
Xenea Wallet is not just a web3 wallet. Users will be freed from the cumbersome process of memorizing seed phrases for setup and will be able to use and recover their wallet through social login. Additionally, Xenea Wallet adopts our patented technology to prevent the loss of user assets due to private key leakage (Electronic allocation type storage method and its operation system (Patent No. 2019-052099)).
This is known as an MPC wallet, which can execute transactions by splitting and storing the private key, ensuring that no third party can reconstruct an address holder’s entire private key.
Q1 2025: Launch of Rep Node
As mentioned earlier, Xenea adopts PoD as our original consensus mechanism. In this algorithm, consensus is achieved by nodes with voting rights judging the authenticity of transactions. Strictly speaking, not all nodes with voting rights participate in voting at all times; instead, nodes randomly selected by Escrow Nodes participate in voting for a certain period.
Under PoD, Rep Nodes, Voting Nodes, and wallets with the right to participate in voting hold voting rights.
Each user of Xenea Wallet can provide their individual voting power by connecting to any Rep Node of their choice. The Rep Node then exercises the aggregated voting power in PoD. When voting is successful, rewards (block rewards and transaction fees) are distributed from the chain and equally allocated to the wallets (i.e., users) delegating their votes. This mechanism is similar to Bitcoin mining. Wallets with voting rights are equivalent to mining machines, while Rep Nodes are equivalent to mining pools that aggregate hash power.
At launch, Rep Nodes will take a permissioned form to prioritize stable operation and will gradually become more decentralized thereafter.
Q1 2025: Launch of Xenea Public Mainnet
Xenea aims to realize a truly inclusive infrastructure that can inherit all values across generations.
After public mainnet release, developers will be able to develop and integrate applications and services on the highly decentralized and secure Xenea network. Additionally, DACS, a decentralized storage system, will also begin operation, taking a significant step towards next-generation data storage infrastructure*.
With the launch of the public mainnet, the TGE of Xenea's native token (symbol: $XENE) will take place. The mainnet beta "FUJIYAMA," which has been operating in a completely closed environment only for partners, will continue to operate as a testnet that is almost identical to the production environment of the Xenea mainnet. Please be assured there will be no developers or token holders affected by this operational policy.
Also, prior to the launch of the public mainnet, we will conduct a node sale for DACS Nodes & Rep Nodes. (details to be announced separately)
*Upon initial release, it will launch as IPFS with our original incentive program applied. Our proprietary data storage protocol and hash file system are scheduled for implementation through updates during 2025.
Q1 2025: Token Generation Event (TGE)
Upon release of Rep Nodes, the full launch of the mainnet, and the transition of Xenea Wallet to Phase 2 are completed as described above, the TGE will finally take place.
There's no doubt the TGE is the most exciting event for investors. During the TGE, $XENE will be distributed to users who had high participation during the campaign and seed round investors. Additionally, $XENE will become tradable.
From the perspective of ecosystem growth, some allocations will have vesting periods. Details of the genesis block allocation and vesting will be announced before the TGE.
Conclusion
The latter half of 2024 consists of an important roadmap for the launch of Xenea's public mainnet.
The marketing campaign aims to strengthen the security of the Xenea blockchain, with rewards prepared for users with high participation. The full launch of the mainnet will begin with the introduction of Rep Nodes and the transition of Xenea Wallet to Phase 2, allowing users to earn passively through mining by participating in our PoD consensus from the Xenea Wallet.
Furthermore, we plan to update various information on partnerships and business developments before the public mainnet launch.
To our community members, thank you for your long wait. We hope you will join us in making this first and last event in the latter half of 2024 a great success!
About Xenea
Xenea is an innovative Layer 1 blockchain platform realizing next-generation data storage. Based on IPFS and our proprietary hash file system, it guarantees data permanence and immediate accessibility, achieving world-class decentralization and security. Through seamless collaboration with other blockchain ecosystems, Xenea promotes the co-creation of a new ecosystem in the data storage domain. As a pioneer shaping the future of digital infrastructure, Xenea aims to establish a global standard for sustainable and secure data storage.
