Chain (XCN) Live Price and charts Today

What is the utility of $XCN?

Chain Token ($XCN) is the governance and utility token for the Chain Protocol designed to vote on protocol improvements and various community-driven programs. $XCN is also utilized for discounts, premium access, and a payment method for commercial fees on Sequence and other Chain ecosystem products.

$XCN has a variety of use case applications within the Chain ecosystem, outside of voting on Chain Protocol and Chain DAO activities. Users can also stake $XCN to secure the protocol and earn rewards. Chain offers priority access to a suite of products, as well as discounts for our software services. $XCN can be used as a secure method of payment for the Chain Protocol as well.

What is the allocation and vesting plan of $XCN?

Chain Token has a fixed max supply of 53,470,523,779 XCN units and there is no minting functionality to ever inflate or increase this supply. The token distribution is as followed:

Circulating (43.89%)

• Amount: 23,470,523,779 $XCN
• Details: The total unlocked and freely circulating $XCN available in the market
• Months: N/A

Company (28.05%)

• Amount: 15,000,000,000 $XCN
• Details: The Company allocation is set aside for Chain's parent entity and designed to be utilized for corporate operations. These tokens are locked in a Time Lock Smart Contract with a monthly release of 200,000,000 $XCN beginning April 2023
• Months: 75

Team (9.35%)

• Amount: 5,000,000,000 $XCN
• Details: The Team allocation is the amount of $XCN granted to the founders, team members, community managers, and developers of the project. These tokens are locked in a Time Lock Smart Contract with a monthly release of 100,000,000 $XCN beginning April 2023
• Months: 50

DAO (18.71%)

• Amount: 10,000,000,000 $XCN
• Details: The DAO Treasury allocation is under the control of Chain Governance Stakers who control these funds through community-driven initiatives. The monthly budget passed on the last community constitution is 100,000,000 $XCN
• Months: 100