XFUEL™ is our development token and the first token on the XTRABYTES™ blockchain. As such, it serves as a way to fund XTRABYTES™, encourage project participation and serve as a proof of concept for the PoSign consensus algorithm by running on a lite version of PoSign which doesn't require miners to secure the chain. As a monetary incentive, XFUEL™ enables the project to pay participants for their time and efforts. Without XFUEL™, it would have been impossible to start and build out the XTRABYTES™ project. XTRABYTES™ did not conduct an ICO, meaning there was no ICO funding available to compensate project contributors. Development would have been incremental at best.
It differs to XBY as XBY is the native currency and the protocol coin for the XTRABYTES™ platform. XBY has been completely distributed and can not be mined or staked. As with any other cryptocurrency, XBY can be used to purchase goods and services. In addition, XBY is required to secure STATIC nodes on the XTRABYTES™ network. The total supply of XBY is 650 million, its circulating supply is dynamic and will consist of those XBY coins not locked into STATIC nodes.
After project contributors detail their project support, XTRABYTES™ awards them with XFUEL™ for their completed work. Project fans can also earn XFUEL™ by participating in one of our open bounties. XFUEL™ is tradeable on our Waves gateway and will also be tradable on multiple exchanges including our decentralized X-CHANGE module available within XCITE™. XFUEL™ will be also used for funding projects through the XFUEL™ My Idea project. This program allows great dApp ideas from individuals to come to life. The goal is to leverage our community to vote on the best ideas.
The XTRABYTES™ platform consists of a series of STATIC™ nodes. There are 3 levels of STATIC™ nodes with each node generating a return. There is a limited amount of nodes available for registration and will require a deposit of either 100% XBY or a mix of XBY and XFUEL™. It’s important to note that a blended node will earn more than a node containing only XBY. Investors may use XFUEL™ to fill one-third of a STATIC node. These blended nodes disseminate enhanced reward payouts within the network. You can see all the network requirements below.
There are a total of 512 Level 1 STATIC Nodes available.
There are a total of 1024 Level 2 STATIC Nodes available.
There are a total of 2048 Level 3 STATIC Nodes available.