What is Electra Protocol (XEP)?
The Electra Protocol is a scalable, decentralized, and secure operating system for instantaneous transactions that runs on its own Layer 1 blockchain. It allows developers to create payment solutions using smart contracts as well as tokens using Solidity. Electra Protocol has a native token called XEP. It provides instantaneous transactions at a near-zero charge. You can check the latest Electra Protocol token price on the charts above.
Besides, the key product of Electra Protocol is ElectraPay. It is a payment solution for e-commerce websites. It provides a number of benefits that retailers cannot get from conventional payment networks. This includes Electra Protocol's blockchain's cutting-edge security, lower transaction fees, instantaneous access to funds, and lightning-fast transaction speeds.
Along with ElectraPay, Electra Protocol is broadening its focus to include numerous use cases in addition to just being a coin focused on payments. For instance, it has rolled out a trial program with a business in the food production sector that allows it to leverage the Electra Protocol blockchain for supply chain product traceability.
Use Cases of XEP Tokens
The main advantage of XEP for token holders is that it may be utilized in transactions. Additionally, it substantially reduces or even eliminates transaction fees. Given the Electra Protocol token price, that could be a highly valuable benefit for XEP token holders.
Moreover, since the platform is a novel Proof-of-Stake blockchain, users may also stake XEP tokens directly on the platform to maintain its accessibility and strength while also earning a 3% reward. Besides, XEP holders who decide to run validator nodes can get 5-7% rewards.
Who Founded Electra Protocol?
The blockchain ecosystem of the community-driven initiative Electra Protocol was neither created nor maintained with the use of outside funding. There are also no founding members because every invention is provided by the organization's volunteers.
However, there is a core team responsible for organizing and carrying out all development-related activities related to Electra Protocol. Many of its members have experience in banking or e-commerce, and they have been active in the community for a long time.
The work of the core team is supported by Electra Foundation, which was founded in 2022. The Foundation is managed by Sebastian Dahm and Aziz Canatan.
Tokenomics of XEP
The platform has adopted the following structure to distribute the total supply of XEP tokens:
- 46% – airdrop;
- 44% – staking rewards;
- 10% – Electra Foundation.
You can also view the latest XEP price changes, trade volume, market cap, and other elements on the graphs and charts above. Understanding the XEP price can help you better predict the future value of the coin, allowing you to make more informed decisions.
