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$XE is the internal coin of the Edge Network. It is used for attribution of value to nodes, for staking and for network governance. It provides for fast, free transactions.
$EDGE is a utility token on the Ethereum network. It is available for trading and exchange.
You can convert $XE to $EDGE and vice versa using the Edge Network Bridge.
$XE and $EDGE are of equal value. The 1:1 relationship is because the coin and the token perform different functions in the network, with $XE as a layer 2 solution designed to facilitate fast and free transactions within the network. $XE is bridged out to Ethereum, a process that converts the $XE to $EDGE.
The X is from the ISO standard for currencies that are not specific to a certain country. It has been used because Edge sees it's coin as the standard unit of account for edge computing. X-Edge, hence XE.
The XE Bridge is open! It opened on Thursday September 09th, 2021 at 5pm UTC. More information can be found in the weekly core team updates.
If the transaction speed fee you provided is lower than current gas costs, the bridge will wait until gas fees are low enough to process the transaction within the threshold you set. In this circumstance the time depends on the costs in the Ethereum network.
When you withdraw $XE through the Bridge, gas is paid in XE. When you deposit $EDGE to the Network, gas is paid in Eth via your Metamask wallet.
$XE is a layer 2 blockchain that bridges between chains. This means that there are more holders of the coin $XE within the network that there are holders of the token $EDGE outside of the network. The ratio is currently around 5x the number shown in DEXTools and other Ethereum explorers.