What Is Xungible (XGBL)?
Xungible (XGBL) is a decentralized social media platform built on the XRPL (XRP Ledger) that aims to bring together blockchain communities, content creators, buyers, sellers, collectors, and artists in one place. Xungible allows users to create, edit, and share content like other social media platforms, but also provides the ability to mint any of their posts, moments, creations, and art as Non-Fungible Tokens (NFTs) seamlessly on a blockchain network of their choice. The XGBL token is the native token of the Xungible platform, used for internal transactions, governance, and holder rewards. Xungible also features a marketplace where users can buy and sell NFTs.
Who Are the Founders of Xungible?
Nick is the founder and CEO of Xungible. Although not much information about Nick's full name and background.
What Makes Xungible Unique?
Xungible is unique in that it combines decentralized social media with multi-chain NFTs and a marketplace. It is built on the XRPL for its speed, low cost, and environmental friendliness, making it an efficient and sustainable platform. Xungible allows users to mint their content as NFTs on a blockchain network of their choice and easily sell or buy them on the Xungible marketplace. This means that creators and collectors can come together on one platform, streamlining the process of creating, sharing, and selling digital assets. Additionally, Xungible aims to unite blockchain communities, content creators, buyers, sellers, collectors, and artists in one place.
Tokenomics
The XGBL token was created as an issued currency on the XRPL with a total supply of 100 billion tokens. The distribution of the XGBL tokens is as follows:
- 1.25% (1.25 billion) XGBL tokens were distributed in a presale, with any unsold tokens burned.
- 40% (40 billion) XGBL tokens were distributed to XGBL holders at snapshot between March 5th and March 12th, 2022. Any remaining XGBL after the airdrop will be burned if the presale does not sell out.
- 3.5% (3.5 billion) XGBL tokens were distributed to all trust lines, with 31.5 billion XGBL being burned following the second trust line airdrop.
- 20% (20 billion) XGBL tokens were kept by Xungible for future marketing, promotions, airdrops, and platform use.
XGBL tokens can be purchased on the XUMM Dex and Sologenic DEX, and can be stored in an XRP account with a minimum balance of 12.1 XRP. The XGBL token will be used as the internal currency on the Xungible platform for transactions, rewards, and fees. The use of the XRPL allows for fast and efficient transactions at a low cost, making it an ideal blockchain for Xungible's purposes.
What purpose does Xungible (XGBL) serve?
The Xungible (XGBL) token serves several purposes within the Xungible platform. It is used as a currency to pay for transaction fees when minting, buying, or selling NFTs on the platform. It is also used for rewards and incentives, such as the holder reward program and airdrops. Additionally, XGBL is used for marketing, promotions, and other platform-related activities. As a utility token, XGBL is an integral part of the Xungible ecosystem and enables its users to access and benefit from the platform's features and services.
