Project History

Dec 11, 2022

The X7 Origin Story Part II

In part 1, we were introduced to the birth of X7, the power of the community, and the first communications from the team. In part 2, development accelerated at a rapid pace. The team became more active, utility was revealed, and the ecosystem began to grow rapidly.

Posted by

CrossChainALΞX
@crosschainalex
X7 Finance
@X7_Finance

The birth of a constellation

Two days after the initial on-chain message, another hint was sent from the same DAO wallet. This wallet continues to serve as the main point of operations for the developers, and is the only wallet that sends on-chain messages to this day.

“_A constellation of stars is beautiful, and in time they will feed the black hole at the center”_

https://etherscan.io/tx/0x8b259681914dee2e4c3bafcb8145749e84300d3ba5331486cc648cb7c7d3ec2d

This message was very interesting, as it matched the initial community research about the name. But what is this constellation of stars? Well, it did not take long for the developers to release another on-chain message that began to clarify matters.

One day after the first message was sent, a second, more revealing message was delivered:

_“_The X7 Protocol is an experimental, self-stabilizing, decentralized, multi token liquidity pool cluster.
The X700 series is an alpha release of the X7 protocol.
The X7 Protocol provides interconnected liquidity pools connected via a network of liquidity pairs and stabilized through a decentralized liquidity providing hub protocol.
Participants in this alpha release will be granted privileged and early access to future iterations of the protocol.
The X7 protocol is an advanced trading platform. Trade at your own risk.”

https://etherscan.io/tx/0x17e7790e8e03d928d026bb7eef1e9a1b203164bdb04999c2fc74c164edffb04d

This fired up everybody involved, and validated some of the thinking and speculation from the community.

The stars aligning

The developers promptly deployed the first version of the Constellation tokens (known today as the X7100 tokens, or simply 'Constellations'), as well as the liquidity hub.

Within 24 hours, they deployed all related contracts and released a statement explaining the purpose of both existing tokens and the upcoming constellation tokens:

_“_The deployment of the X700 Series tokens and liquidity hub was successful.
Please take notice of a few things.
There are 7 tokens in the X7 Protocol:
x7m105, the core reward token
x7dao, the governance token

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The X7 Origin Story Part II | X7 Finance

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Project History

Dec 11, 2022

The X7 Origin Story Part II

Posted by

CrossChainALΞX
@crosschainalex
X7 Finance
@X7_Finance

The birth of a constellation

“_A constellation of stars is beautiful, and in time they will feed the black hole at the center”_

https://etherscan.io/tx/0x8b259681914dee2e4c3bafcb8145749e84300d3ba5331486cc648cb7c7d3ec2d

One day after the first message was sent, a second, more revealing message was delivered:

_“_The X7 Protocol is an experimental, self-stabilizing, decentralized, multi token liquidity pool cluster.
The X700 series is an alpha release of the X7 protocol.
The X7 Protocol provides interconnected liquidity pools connected via a network of liquidity pairs and stabilized through a decentralized liquidity providing hub protocol.
Participants in this alpha release will be granted privileged and early access to future iterations of the protocol.
The X7 protocol is an advanced trading platform. Trade at your own risk.”

https://etherscan.io/tx/0x17e7790e8e03d928d026bb7eef1e9a1b203164bdb04999c2fc74c164edffb04d

This fired up everybody involved, and validated some of the thinking and speculation from the community.

The stars aligning

The developers promptly deployed the first version of the Constellation tokens (known today as the X7100 tokens, or simply 'Constellations'), as well as the liquidity hub.

Within 24 hours, they deployed all related contracts and released a statement explaining the purpose of both existing tokens and the upcoming constellation tokens:

_“_The deployment of the X700 Series tokens and liquidity hub was successful.
Please take notice of a few things.
There are 7 tokens in the X7 Protocol:
x7m105, the core reward token
x7dao, the governance token

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_“_Please look at this diagram to understand the ecosystem.
The Uniswap fork DEX, which will have a lower LP fee than Uniswap, and will be optimal for DeFi Initial Liquidity Offerings.
The profit from the DEX will flow into the liquidity hub:
a) A portion will flow into the X7m105 as liquidity b) A portion will flow into the X7001-X7005 token network as liquidity
Arbitrager's will ensure that X7001-X7005 tokens will maintain a similar price (and due to liquidity tax and the DEX profits, these tokens will have a constantly rising floor).
Long term holders of X7001-X7005 can expect an ever deepening liquidity pool and price floor as funds from the DEX flow in.
Short and mid term holders of X7001-X7005 can enjoy arbitrage opportunities across the pairs.
In order to make arbitrage more practical the X7001-X7005 can be traded at a discounted fee by holding >= 50,000 X7DAO tokens.
In the future we may offer a trading pass NFT that provides this same benefit. If we do so, we will be able to enable that on the existing tokens.
Due to the recent tornado cash sanctions, this project is intended to be censorship resistant by hosting the DEX frontend on IPFS and using on chain messages to communicate.
Long Live DeFi!
Trading Guide:
When the X7001-X7005 pairs go live there may be incredible volatility due to MEV bot arbitrage. This will feed into X7m105. Please swing trade at your own risk or do not trade at all on these tokens. They are meant as a “liquidity sink” for long term holding and price appreciation and provide a platform for MEV bots to exchange money in various ways ;)
In order to ensure the community can secure reasonably priced positions of X7001-X7005, trading will be limited for 10 minutes to holders of at least 20k of X7DAO will.
There are typical max transaction and max wallet limitations for the first 10 minutes of trading that will be automatically lifted after 10 minutes from launch.
Holders of >= 50k X7DAO will get a fee discount on the tokens.
The safest hold is X7m105.
X7DAO is a utility token and will be traded by swing traders and held by power users of the ecosystem.
The X7001-X7005 are an experiment in shared, linked liquidity. Short term price action may be extreme due to MEV bots taking advantage of arbitrage. Long term holding will be stable due to the injected liquidity from the DEX. Swing trade these at your own risk.
A one hour warning will be made on chain prior to X7001-X7005 going live.
Note:
This project is a multi dev, decentralized, DeFi collaboration with additional moving parts. We have chosen to run this project in this way to ensure maximum censorship resistance. We do not ask you to trust us. We ask that you see the code, the protocol, and make your own judgement.
All associated marketing and dev wallets are individually controlled by various collaborators and their actions are solely their actions. Let the smart contracts and the code speak for itself.
Trust no one. Trust code. Long live DeFi ”