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I have some questions, regarding this X8X Coin.
So basically X8X is the means through which one can aquire X8C, whereas the X8C can be seen as a SAFE means to store value.
Lets consider the folowing example.
X8X is worth 5 EUROs at Exchange and i own 20.000 X8X, which in turn would worth 100.000 EURO
Now i want to "back UP" These 100k Euros.
I give the 20k X8X to you, and i receive a certain amount of X8C token, which presumably, has a fixed value.
Now when i give you X8X worth of 100k EUROS, you basically issue a certain number of X8C, and hold the 100k EURO, naturally, spread over 8 different fiats and Gold.
But wait, you dont actually receive the 100k EUROs i give you, you only receive 20.000 X8X, that you somehow Need to convert in 100.000 EUROs worth of 8 Fiats and GOLD, for the issued X8C to be actually be backed up by 8 fiats and Gold that are worth 100k Euros, that means you will Need to dump the 20.000 x8x back in circulations where other will be buying it, for their other cryptos, or BTC or whatever.
Then what you receive for the dump of 20.000k X8X (lets say BTC), will Need to be somehow converted to said 8 FIAT plus Gold, which will consequently mean a dump of said BTC, which will in turn lower Price of BTC.
This is how i see the System would work, or am i teribbly mistaken ?
And that is where my question comes !
How are you planning on filling the basked with 8 fiats plus Gold, that serve as collateral for the X8C coins you are issuing ?
Naturally when someone cashes out from X8C coins, you give them whatever fiat or Gold they want, and you burn said number of X8C Tokens.
Or are you planning on filling the basket yourself by allowing People to purschase X8C directly with said 8Fiats plus Gold, thus collecting liquidity, for when People trade in X8X ? That would also not work, because say you gathered 10 mil Fiat/Gold, and you issued 10 mil X8C, now someone comes and exchanges 10k X8X for 1000 X8C, and you give them 1000 X8C, and now you have issued a total of 10.001.000 X8C, but you have in basked only 10 mil Fiat/Gold, you know what i mean ?
I would like to have some answers to this simple matter. Perhaps i will invest then.
Hey. Let me correct your way of understanding X8C. You don't purchase X8C with X8X. You need X8X on your X8 AG account so you can obtain X8C without any fees. You still purchase X8C with cash or later with ETH/BTC. After purchasing X8C you still have your X8X tokens which get locked for a certain amount of time and after that time you can sell or use them again. You can purchase X8C on exchanges aswell but you will pay the fee and the price will be the supply/demand one. After you exit from X8C your X8C tokens get destroyed. The equation for the amount of X8X needed for X8C is X8X^2 = X8C so for example, with 10 X8X you can purchase 100 X8C(you still keep X8X like explained above). I recommend reading these two blogs: https://www.ionectar.com/x8-project-token-model/https://www.ionectar.com/business-model-of-the-x8-utility-token/And if you have any other questions feel free to ask or join our telegram channel. |
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looking Forward to this Project ,hope will be a success,When we can trade on the exchange ？
Hey. X8X is currently being traded on Bancor, ForkDelta and IDEX. We are in talks with multiple exchanges aswell and hoping we can add more soon. |
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This coin is not worth investing. Just a pump and dump coin.. I am out. bb.   This coins giving us false promises. A pure scam in the making. Dev just waits on the right moment to dump all his coins. This coins has no volume at all. Just pump and dump, with fake news, fake hype, and deceptive promises. Until now not a single X8X token has been distributed to the team. If you don't thrust this, you are free to use the main advantage of blockchain - unbaised tracking - and check Etherscan for confirmation. Even after tokens will be distributed, they will be locked. Thus, it is hard to see your comment in reality. |
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Hello, we are doing fine and listing is in progress.
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I receive an email, my ID form is incomplete I can't find where to change it on the website.. I have to reply to your mail with the correctly form ? Thanks
Send the corrected forms to kyc@x8currency.com please. |
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So when will the tokens be transferred to our eth acc and what is the ETA for exchange listening?
The tokens will be transferred by the end of this month. We are giving everyone the chance to send their corrected A forms back so everyone can receive them at once. |
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Hi there
I know, time is running - but I am having a principle question concerning the process of obtaining XBC with cryptocurrencies (ETH) through the direct channel with XBX. You are stating that you are establishing a business link to Bitstamp to be able to exchange ETH to XBC (ETH to USD, USD to XBC). So now, if I want to secure my ETH by buying XBC (with the utility token XBX) you are in the same liquidity trap as ANY user in Bitstamp, trying to exchange ETH to US Dollar, no? If I am doing the exchange ETH -> USD manually at Bitstamp I can control how I am selling my ETH, when the market isnt liquid enough. I am in this trap at Coinbase (GDax) in the ETH/EUR market, where I am having real trouble buying/selling more than 100 ETH at once.
So I do not see any real advantage letting your smart contract doing the conversion with Bitstamp compared by a manual conversion. You find yourself in the same liquidity boundaries as any user in Bitstamp, no?
Thanks indeed for an explanation!
Hello. Yes, at Bitstamp there will be the same limits to liquidity everyone else might face. But b2b account with Bitstamp is just the first step in our crypto/fiat infrastructure. When X8 system diversifies with several exchanges, liquidity traps will be overcome by algorithms choosing optimal conditions for the crypo/fiat transition. |
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THE TGE IS CLOSED!!
We would like to thank each and everyone of you. Without your support this could not have been possibile.
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20 HOURS TO GO!
TIME IS RUNNING OUT TO CONTRIBUTE.
We thank every support for their contributions.
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FINALLY, THE X8 PROJECTS INVITES THE U.S. TO KYC
Our aim was to be able to offer participation in our project and the X8X TGE (token generating event) to U.S. citizens. Nevertheless, because the TGE timeline and the Limited Whitelist phase of the TGE came about faster than we were able to receive a response from a U.S. institution to provide a solid legal base for this step, we had to decide to put the safety of the project and other participant contributions first and continue with the X8X utility token sale without the participation of U.S. citizens.
In this context our project sought the best solution, because we care a lot for our support base. The X8 project has always been about the long-term perspective and we believe that everyone should be able to join us. When merging all the perspectives into one, we were able to come up with the following proposal to invite the members of the U.S. crypto community, so everybody who wants to support our project gets a fair chance.
Status:
U.S. citizens cannot contribute during the TGE (X8X utility token sale)
X8 project will create a reserve of 1.000.000 X8X utility tokens from the airdrop quota
Airdrop size will be reduced from 27M to 26M tokens.
The reserved quota of 1.000.000 X8X tokens will be offered to U.S. supporters directly prior to the X8 project’s entry into the U.S. market.
The quota will be offered to those followers from the U.S. who will complete their Video KYC by 15th Jan 2018.
Only successfully verified U.S. supporters will get a chance to obtain the X8X from this special package.
The future limitations on contributed amounts for each individual will remain the same at 10 ETH, just as during the Limited Whitelist of our TGE.
In case the entry into this quota will be oversubscribed, contributions will be averaged out and a proportional amount of X8X will be obtainable by each individual.
This is a symbolic gesture which the X8 project can make to remain in a good relationship with our U.S. community base and at the same time remain fully compliant. The price of the token at that future point is not determined, but we are looking for the most sensible, practical and fair offering that we will be able to pursue at that time. We believe it is in the interest of the entire project and the wider community to keep our ties with our American friends as strong as possible.
Everyone, who will decide to successfully complete the KYC will be notified about all the updates in this regard.
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X8 PROJECT TGE OPENS DOORS TO OVER 150 NEW COUNTRIES
Dear X8 project followers and supporters,
After lengthy coordination about how KYC can be arranged for every supporters’ country, we decided to establish a separate procedure for countries that are not on our KYC provider’s list.
The existing procedure stays the same for contributors from countries that are on the original list. (ALL THE COUNTRIES IN THE ATTACHED LINK + JAPAN, NEW ZEALAND, BRAZIL, KAZAKHSTAN). Please use and follow the existing instructions and troubleshooting link.
The new procedure for all the new countries will not include a video verification. More than 150 countries are added. All verifications will be performed by a manual check. This can be described as a lighter version of the KYC.
The lighter version of the KYC procedure without the video verification has a compliance level, which only allows subscription of smaller amounts, yet with that configuration it at the same time ensures that the X8 project is fully in line with all existing rules and regulations. This addition means that every contributor from every country will have a chance to take a part in the X8 project TGE!
Many members of our community expressed strong opinions that in the world of blockchain and cryptocurrencies there shall be no distinction and that a fair opportunity for everybody shall be enabled. We completely agree with these views. Nevertheless, exactly the same equal treatment cannot be provided because of various legal reasons and requirements.
Light KYC specifications:
User will be able to select their country from the TIER 1 list of countries
Maximum contribution for TIER 1 KYC will be 1ETH or 0.05BTC
Members from every country can participate (except China, South Korea and United States of America)
Users for TIER 1 KYC will enter the same procedure using our login page. After choosing a country the procedure will guide them to the document upload section, where users will upload their documents.
Light KYC document requirements:
A copy of a valid passport
A photo of the owner, holding and showing himself or herself together with their passport (Picture on the passport and the face of the owner must be recognizable and in focus)
Proof of residency (Utility bill / phone bill / electricity bill / bank statement. May be required and requested after the documents will be checked. Applications with proof of residency will have priority)
FORM A and FORM 1A (Both forms shall be completed with all the fields filled in (Including the purpose of cooperation)
In light of all the developments we hope the community appreciates the increase in our efforts so that everybody will have the best chance to join the X8 family.
US citizens can go through regular WebID video call procedure, but will not be able to contribute unless they are accredited or professional investors. We intend to provide an option of contribution to every US citizens ASAP and will reserve a certain amount of tokens for them. Announcement with further details on this will be made shortly.
We kindly invite you to become one of our members and complete your KYC.
IMPORTANT: COMPLETE YOUR KYC AS SOON AS POSSIBLE TO AVOID DISAPPOINTMENT!
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I can not make a video link verification, who can help me? I was told to contact the representatives of x8currency.
You can send an email to cs@x8currency.com and enclose a screenshot of the problem if possible. |
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This is quiet an exceptional idea I want this community to grow. Dev when is presale ? It is going on right now. Check 3 post above this one to see all the relevant dates. |
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IMPORTANT INFORMATION FOR X8 PROJECT CONTRIBUTORSTo be able to participate in the TGE, you must first successfully conduct a KYC procedure. The last day for conducting the KYC is January 22 (if the hard cap is reached before that, the whitelisting option will be closed earlier) The timeline of the TGE is as follows: 1. Limited Whitelist phase: starts on January 5th at 14.00 CET and ends on January 13th at 12.00 CET 2. Unlimited Whitelist phase: starts on January 13th at 14.00 CET and ends on January 15th at 14.00 CET 3. Crowdsale: starts on January 15th at 16.00 CET and ends on January 24th at 16.00 CET The Limited Whitelist Phase will be open for everyone that will contribute untill its conclusion. Everyone will have an equal opportunity to participate and will not be rejected. If the hardcap is reached before the end of this phase further contributions will still be accepted. In this case contributions will be averaged but maintain the same contribution ratio. Some important things to be aware of when contributing in the TGE:1. The individual minimum contribution limit is 0.2 ETH or 0.01 BTC 2. The individual maximum contribution limit is 10 ETH or 0.5 BTC 3. Be sure to provide a personal wallet address that supports ERC-20 tokens (like MyEtherWallet). In no case should you state the address of your exchange wallet. The TGE price of the X8X token is 0,1€. The ratio of ETH and BTC lock to Euro will be fixed at the end of the Limited Whitelist phase based on the average of that period. How to contribute?1. Go to the Login area of our website – https://x8currency.com/login/2. Log in 3. Proceed to the contribute page (only shows if you are verified) 4. Follow the instructions shown on the page. https://www.ionectar.com/important-information-for-x8-project-contributors/
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X8 Project at the Cointelegraph The Most Stable Cryptocurrency Ever Known Zug, Switzerland, January 3, 2018: X8Currency is launching the world’s most stable cryptocurrency – the X8C Currency Token. The token will be distributed from Zug – Switzerland’s Crypto Valley – and the first stage of the distribution procedure commences on January 4th, 2018 with the TGE Pre-Sale. The X8C Currency Token acts as a hedge against market volatility by being physically entirely backed by a fully exchangeable basket of the top 8 fiat currencies and monetary gold lodged with leading Swiss financial institutions. https://cointelegraph.com/press-releases/the-most-stable-cryptocurrency-ever-known?platform=hootsuite |
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X8CURRENCY APPLIES FOR BITSTAMP CRYPTO EXCHANGE ACCOUNT The X8 project has come a long way since the concept was in the beginning of taking shape. X8currency is now institutionalized. We are also moving closer to another important milestone, which will open the way for X8currency to be put into operation. X8 AG started the process of opening a corporate account with Bitstamp — a regulated European crypto exchange. This is the first step for X8currency towards opening its crypto liquidity window for anybody who will want to use the functionality of the X8C smart contract — Decentralized Auto Conversion Platform. DIRECT CONNECTIVITYBitstamp offers FIX Protocol connectivity for B2B users to connect their own systems to the Bitstamp exchange. For us this is one of the best options. ioNectar’s ARM AI technology already uses FIX protocol to connect to financial intermediaries and their servers. This is one of the most direct ways to connect our system to the crypto world. Why is this important in our plan? When the X8C smart contract will have all necessary links established to convert ETH for fiat and vice-versa, X8currency will be one step closer to starting production. From an early stage people will be able to start using X8C directly without going to the exchange. The smart contract itself will find effective routes to exchange crypto into fiat and produce X8C tokens for the client in return. SHORTER TIME TO MARKETInvestors will only need to send ETH to our X8C smart contract’s address. This is a big advantage for us and for X8currency in the crypto market. Linking to the Bitstamp exchange enables us to start building liquidity for our product and to make it available on the market. We feel that this is one of the best ways to start the process. When our application will be resolved successfully, the X8 project will implement the Bitstamp process into out platform and start testing it as soon as possible. When connectivity to the entire system will be in place, the platform will know how to issue X8C tokens. This will permit our project to further prepare the broader infrastructure mechanism for the engagement of Automatic Reserve Management AI. ARM AI will become activated when sufficient reserves will accumulate on X8currency AG accounts. Nevertheless, because of the described approach the X8C production start will not be dependent on raising large reserves from the start. This will further accelerate the time to market for X8currency. SUMMARYA working infrastructure is one of the most important elements for any service or product to start entering the market and to start gaining market share. Even if it starts from a smaller scale initially, the system will be able to start producing a product and then expand the liquidity network further from there. We look forward to this process as it is of direct benefit to our project, X8currency and all our supporters and investors. Remember, X8Currency is the ultimate crypto safe haven.
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All i can share with you at this moment is that X8C is already in prerelease version and is being tested on testnet. In first half of January it will be available for public testing and viewing how it works.
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Great concept.
Is there anything to show yet, other than the ARM? Like a rough internal working version of the actual platform allowing the exchange of ETH or USD to X8C and back?
If yes, where? if not, what would be the expected timeframe for this?
thank you.
Thank you for the feedback. As you have suggested in your post, our ARM AI has been up and working for the last 2 years. Its track record and also a reference confirming the results are published on our website. The platform, which will be the backbone of the exchange through our fund manager, is planned to launch in Q3 of 2018. A more detailed roadmap can be seen below:  |
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