XD (LENX) Project Analysis-CoinW Institute – CoinW

XD (LENX) Project Analysis

1. Research Institute Comments:

The well-established FRAX project has implemented a comprehensive BTC liquidity protocol on the BRC, featuring a Bitcoin-anchored stablecoin, cross-chain bridges, DEFI, and lending products. Currently, they have successfully raised $4.5 million in liquidity incentives. LENX, as a project closely aligned with FRAX, boasts four core products seamlessly integrating BTC liquidity into DeFi. LENX issues the stablecoin xBTC, an asset pegged to BTC, enabling frictionless interchangeability with native BTC, permissionless collateral assets, and a stablecoin called BOX pegged to the USD.

2. Recent Breakout Points:

The project operates in a promising sector by expanding Bitcoin's liquidity ecosystem. With the support of frax.finance, which specializes in stablecoins, the introduction of a Bitcoin-pegged stablecoin by XD appears to be feasible. The project has attracted a significant user base and garnered several million dollars in funds.

3. Project Introduction:

Frax Finance supports a native Bitcoin liquidity protocol.

4. Token Utility:

Staking and governance.

5. Tokenomics:

The XD token has a total supply of 100 million, with 25% allocated to the public LBP liquidity incentive, 7.5% for initial liquidity, 8% for the project treasury and advisors, 15% for the team, 8% for private placement, 1% for airdrop, 2.5% for Frax Finance, and 36% for liquidity staking rewards.

6. Project Highlights:
Stablecoin on the Bitcoin blockchain.

7. Investment Institutions:

AlfaDAO, GHouse.

8. Community:

184,000 followers on Twitter, a Discord group with 65,000 members predominantly consisting of international participants.

9. Special Economic Models:

None mentioned.

10. Future Outlook:

LENX is a novel Bitcoin-based asset, similar to Frax and sFRAX. Inspired by Frax's Algorithmic Market Operations (AMO), LENX aims to provide more efficient Bitcoin liquidity. LENX allows users to exchange with native Bitcoin, and the underlying native BTC can always be redeemed through a Bitcoin wallet. Additionally, similar to WBTC and TBTC, LENX's liquidity can be obtained externally, potentially through airdrops in the future. LENX is a protocol designed to provide a capital-efficient Bitcoin liquidity market. It adjusts the BTC asset-liability ratio based on market demand for xBTC to maintain its stability and ensure it can be exchanged for native Bitcoin at any time.

Basic Information

About XD (LENX)

Project Introduction: Frax Finance's native Bitcoin liquidity protocol.

Token full name: LENX

Token name: XD

Project official website: https://lenx.finance/

Project documentation: https://lenx.gitbook.io/lenx/litepaper

Block explorer:

https://etherscan.com/address/0x3005003bda885dee7c74182e5fe336e9e3df87bb

Liquidity explorer:

https://etherscan.com/token/0x3005003bda885dee7c74182e5fe336e9e3df87bb

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