XFUEL Simplified
XFUEL is an internal development token for the XTRABYTES platform:Primary Use - Paying Developers and Helpers
How can it be used - Optional 33% space inside STATIC deposits
Why would I buy it - For STATIC nodes. The XBY/XFUEL deposit capacity for the XTRABYTES STATIC network is more than 650 million XBY. Otherwise, you can buy and sell like any other coin on X-CHANGE at free market prices.
Where do I buy it - On the DEX P2P module X-CHANGE which will be available later, on the XTRABYTES platform.
Can I get some now - All workers, helpers and developers will be paid XFUEL. Maybe they will be willing to trade directly until the X-CHANGE is ready, inside the XFUEL Trading Room on Slack #xfueltrading. There is no other way to get XFUEL.
If I am paid XFUEL and I want a STATIC, can I use XFUEL - Yes, you can make a deposit wallet that has approx. 67% XBY and 33% XFUEL. (amounts below)
What if I don't have enough XFUEL for a STATIC - buy or work for more.
What if there are no XFUEL available and I want a STATIC today - Buy more XBY as you can still fill a STATIC with ONLY XBY.
Can I make a STATIC with ONLY XFUEL - No
Can I make a STATIC with only 20% XFUEL - No, it must be the fixed amount, as seen below.
How much will XFUEL cost - XFUEL is traded on free market pricing based on supply and demand.
Required deposits of STATIC nodes:
Level 1 is: 500,000 XBY or 330,000 XBY + 170,000 XFUEL
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 XFUELMakes it clear now but I was wondering how is XFUEL created? How much is the total supply of XFUEL, who controls that supply. When you say "buy XFUEL" how (before it hits the dex from users that earned it) and who do I buy it from? If I wanted to buy some the moment it's released what is the rate of exchange?
I still think lower tier statics should cost less XBY, open the door for smaller people interested to get in. If the network is going to scale I believe it'll need 1000s of 1000s of nodes, the more the merrier. Also the more there is the less centralized it becomes, someone grabbing 100 nodes out of 10,000 available is better then one getting a 100 nodes out of a 1000.
XFUEL is an XBY clone with the same premined supply as XBY, but the target for completion of development is to have an emission around 218 million, to leave around 100 million XBY in circulation. The remaining XFUEL will be burned. It is controlled by the community, kept in cold storage and we will ONLY release the weekly amount needed to pay for the work that has been done, so it will come out slowly. We have a team for payment operations and there will be a block explorer that shows everything about the transaction, so that it is audit-able.
You can only buy from the people who have received it for the work they have done or are doing. There will be back pay for services also, so you will receive some for your services. Otherwise, we are setting up a temporary moderated room in Slack where people can trade directly until the X-CHANGE is ready. The cost of XFUEL is determined by the free market through normal supply and demand.
Currently there are 3584 STATICS coming available. After the community decides to split the network (when the price is too high for transferring of nodes at affordable levels) this first split will result in the same amount of coins being in 7168 STATICS and when the price again rises too high, the community will again decide to split, resulting in the same amount of coins being in 14,336 STATICS and so on... This is an infinitely scale-able network, but the coin supply will remain the same.
Great questions Smoke! Thank you!
There is also a lot of great info in the post above from Borzalom during last nights Q&A. I translated it today so look for the Q&A post with the blue letters.