Hey fellow Xenians,
My $0.02 for XEN as a store of value, has not changed since minting out thousands of addresses with Xenturbo (which is an awesome XEN resource). There is so much going on with builds on top of XEN, like X1 and nodes and stuff, that it's hard to keep track of things.
I was attracted to the first principles of XEN, in that the utility of XEN as a token, would be attractive for both hodling and using in various setups. Now, with a ton of projects down the road, it seems the liquidity of XEN keeps rising to crazy levels and along with it, a dilution effect to the value of XEN is applied negatively. I'm worried that XEN, as the driver and native token of all these projects, gets lost in translation so to speak, and focus is more on how to drive each project as successful as possible (as opposed to how holders of XEN will be the main beneficiaries of these projects).
Are we expecting more burning projects to keep the value of XEN at bay or are we simply to believe in XEN being valuable when the minting has run out and there are no more XENs to be made (true deflationary). I'm all in for that and believe that will indeed drive the prize like crazy but that's like 7 years off right now. Short term (like 2-3 years), what are the incentives for mining more right now? As we all know, claiming the mints comes with a rather uncomfortable and unforeseeable claim fee cost, and all those minting fees investments, might have to burn as the penalties are invoked (during a 1 week window). Currently, I think of the claims as being 25% of the mint fees (provided the gas fees are on the same level, which is very unlikely of course).
So - all in all - as a concept, I'm as bullish as can get on XEN. But a little bit worried that we forget about XEN as the principal core token, and that we get lost in all these new applications? But maybe that is what is meant to be, new platforms and ideas where XEN is the main currency and driver. I'm still hoping XEN is in the center of it all. But the narrative aligned on this from the team and creators seems a bit lost on me. Hopefully I'm wrong.
Take care y'all,
