Getting to Know XFUEL™ Better

What is XFUEL™?

XFUEL™ is a development token on the XTRABYTES™ blockchain. As such, it serves as a way to fund XTRABYTES™ and encourage project participation. As a monetary incentive, XFUEL™ enables the project to pay participants for their time and efforts.

Without XFUEL™, it would have been impossible to complete the XTRABYTES™ project in a timely manner. As XTRABYTES™ never conducted an ICO, there was no ICO funding available to compensate project contributors. So development would have been incremental at best. In addition, we were not willing to allow VC’s to enter and take control of the project (given the many patentable innovations on the table). Doing so may have allowed outside parties to control the direction of XTRABYTES™.

Unlike ICO funding, all XFUEL™ purchases are fully dedicated to XTRABYTES™ development. Consequently, we believe XFUEL™ to be a superior substitute to the ICO funding other coins rely on.

Paying Developers and Helpers

After project contributors detail their project support, XTRABYTES™ awards XFUEL™ for project work at a 1:1 ratio using XBY’s USD valuation.

Project fans can also earn XFUEL™ by participating in one of our open bounties. Thus, if users desire more XFUEL™, they can always purchase it from team members or bounty hunters.

Once we showcase X-CHANGE in XCITE™ (our new wallet), users will be able to access an XBY/XFUEL™ trading pair.

Why would I want to buy XFUEL™?

Investors may use XFUEL™ to fill one-third of a STATIC node (no more and no less). These  XFUEL™-filled nodes disseminate larger reward payouts within the network.  The project is planning to use XFUEL™ in other (undetermined) ways as well. Moreover, since not all STATIC nodes can be registered with XBY alone, many nodes will require partial filling with XFUEL™.

Once mainnet comes online, STATIC node registration will begin. Once that occurs, investors will have a chance to register a STATIC node on the XBY network. Three levels of nodes will be made available. Since they cannot all be filled with XBY, users may use the following amounts of XFUEL to register a STATIC node.

XBY/XFUEL deposits for STATIC nodes:

  • Level 1 is: 500,000 XBY or 330,000 XBY + 170,000 XFUEL™ (Some of which have already been locked in during the initial registration period in 2017)
  • Level 2 is: 250,000 XBY or 170,000 XBY + 80,000 XFUEL™
  • Level 3 is: 125,000 XBY or 85,000 XBY + 40,000 XFUEL™

There are a total of 512 Level 1, 1024 Level 2 and 2048 Level 3 STATIC nodes at present. In contrast, filling all network nodes filled with only XBY would require:
512 L1 x 500,000 XBY + 1024 L2 x 250,000 XBY + 2048 L3 x 125,000 XBY = 768 million XBY

XBY total supply: 650 million XBY

Missing XBY: 118 million

This missing XBY can be replaced by XFUEL™. And since roughly 100 million XBY is expected to remain in circulation (and not locked in nodes), it will also have to be replaced by XFUEL™. Once 118 million XFUEL™ is in circulation, node registration can proceed. This is why a blended network has been envisioned by the developers and why XFUEL™ is vital to the XTRABYTES™ ecosystem. Consequently, XFUEL will very likely be in high demand once node registration opens.

Learn more about the XTRABYTES™ network structure here.

Frequently Asked Questions:

How much should XFUEL™ be worth?

Supply and demand determine the value of XFUEL™.  And anyone can buy or sell XFUEL™ at any price they desire (generally at an XBY to XFUEL™ ratio between 0.5 to 1.0). As a result, it’s practically impossible to predict an exact price for XFUEL™. However, since it’s paid out in a 1:1 ratio with XBY, it’s not unreasonable to expect it to settle around this ratio (or higher with enough demand).

You can read more speculation on XFUEL™ value here.

Where can I download the XFUEL™ wallet?

Once XCITE™ is released, both XBY and XFUEL™ will be stored in the same wallet. Until then, a dedicated XFUEL™ wallet can be downloaded here.

How much XFUEL™ is there?

XFUEL™ was forked from XBY, so the supply is the same at 650 million. We had originally intended to limit the circulating supply to 250 million after an initial burn. However, we soon began to realize that our development will continue indefinitely. In the big picture, our development teams need to be much larger than what they are now for what XTRABYTES™ is planning. We can’t risk running out of development funds at such an early stage in the project’s lifespan. In order to grasp such an undertaking, users should consider the complexity and funds needed to run multiple module development teams, support & moderations, marketing, logistics, business development, and everything in between. Thus, we’re limiting the supply to 650 million and will continue to use XFUEL™ as needed.

Would a burn of XFUEL™ tokens still be possible at some point?

It is too early to make a definite decision on that. An incredible amount of growth and expansion is still left to occur.

Can I track the XFUEL currently in circulation?

Yes, you can track its movements via a richlist and as company payments on the official blockexplorer.

How does the XFUEL-trading channel work?

When showcased in XCITE™, our X-CHANGE (dex) module will list XBY/XFUEL™ as its first trading pair.

Until then, XFUEL™ holders can buy or sell their XFUEL™ in the #xfuel-trading channel on Discord. They merely have to state their desired exchange rate. A free and secure escrow service is available to any community member wishing to buy XFUEL™ here (please note that you require a Discord account). Once you have negotiated a trade, fill in the form, and wait for a an escrow team member to get in touch with you. Investors can find detailed escrow instructions here.

You can find more frequently asked questions here.

Would you like to know more?

We don’t just publish articles, XTRABYTES™ is a whole new blockchain platform that allows DApps to be programmed in any language, utilizing a new consensus algorithm called Proof of Signature. In doing so, XTRABYTES™ presents a next – generation blockchain solution capable of providing a diverse set of capabilities to the general public.

You can learn more on our website where you can also help to spread the word through our bounty program and get rewarded in XFUEL™, or join our community and hop into the discussion right now!

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