There are two methods of value exchange in the Edge Network, $XE, which is internal to the network, and $EDGE, which is on the public Ethereum network.
$XE is a layer 2 solution designed for fast transactions mapped to resource usage. It is bridged into the Ethereum network on a 1:1 basis with the $EDGE token.
Transactions within the Edge Network are free for staking wallets. Non-staking wallets are charged a small fee to help to maintain the security of the chain. Bridging $XE in/out of the network to $EDGE in the Ethereum network carries a variable gas fee.
For transactions out of Edge Network, this fee is taken in $XE. Individuals can choose their target gas fees and the bridge will automatically transmit their transaction to meet the target set. This acts to help to keep transaction fees as low as possible.
For transactions into the Edge Network, the gas fee is taken in $ETH.
As a network native coin, $XE does not count towards the circulating supply of $EDGE. Therefore service usage, staking, governance and fees all act to reduce the circulating supply of $EDGE by locking value in the network itself.
$EDGE is a tradable utility token on the Ethereum network (ERC-20). It is the entry point to the Edge ecosystem and can be used for the purchasing of Edge services.
$EDGE tokens can be bridged into the Edge network and converted to $XE using the Edge Bridge. The relationship between $EDGE and $XE is 1:1, meaning that for every 1 $EDGE bridged into the network, you will receive 1 $XE.
When services are purchased in $EDGE, the $EDGE is automatically bridged into the network, reducing circulating supply.
Services in the Edge Network can be purchased with $EDGE. They are also available for purchase within the Visa and MasterCard networks. Enterprises wishing to be invoiced directly can do so by reaching out on: [email protected]
Purchases made in $EDGE are automatically bridged in to Edge Network and swapped for $XE.
Purchases made in fiat (Visa/MasterCard) or in other cryptocurrencies are swapped for $EDGE before being bridged into Edge Network, converting them to $XE.
An $EDGE liquidity pool will be available on Uniswap, initially funded by the network treasury.
Uniswap applies a 0.30% fee for every trade that takes place on their platform and automatically sends this to a liquidity reserve. Whenever a liquidity provider decides they want to exit the $EDGE pool, they will receive a portion of the total fees from the reserve relative to their staked amount in $EDGE the pool.
In addition to this, a 0.75% fee is applied to all $XE transactions moving through the network bridge. This amount is automatically deducted from the sent amount and is collected in an $XE vault wallet (xe_4845075Ad790DD979Ab3f7834Ff507244e7a5449). These funds are periodically bridged out of the network and redistributed as LP rewards to those providing liquidity for $EDGE on Uniswap.
$XE is a layer 2 solution designed for fast transactions mapped to resource usage. It is bridged into the Ethereum network on a 1:1 basis with the $EDGE token, meaning that for every 1 $XE bridged out of the Edge Network, you will receive 1 $EDGE.
$XE is used for the purchasing of Edge services, for staking, network governance, and for node rewards.
Transactions within the Edge Network are free for staking wallets. Non-staking wallets are charged a small fee to help to maintain the security of the chain (mitigating against flood attacks). These fees are assigned equally to the dev fund and to the growth fund.
Services purchased using $XE directly attract a service discount of 2.5%, designed to reward the holding and use of $XE.
Edge is a Proof of Stake network. Contributing a node to the network requires a POS in $XE. Stakes are locked in the network for a minimum period of time and for the duration of the node being online.
Nodes that are found to be bad actors will have their stake penalised or removed. Stakes reclaimed by the network in this manner are burned (sent to a zero address in the XE chain).
Participation in network governance requires a stake locked in the network in $XE. This can be a stake used for the contribution of a node or an unassigned stake used purely for governance participation.
Fees tied to the raising of proposals in the governance mechanism are put into the growth fund.
A buy back and make programme assigns network revenue recieved in fiat and other cryptocurrencies to the dev fund and to the growth fund. In addition to this, a percent of the gas fees from the network bridge are put into the growth fund.
A significant proportion of the $XE used for the purchase of Edge services is burned. The coins are sent to the zero address of the network: xe_0000000000000000000000000000000000000000