Electra Blockchain

The Crowdsourced Blockchain Made for Instant Payments

Just like Bitcoin, Electra Protocol is open source and 100% crowdsourced. The blockchain is developed by contributions of voluteers aiming to create a compliant and programmable money platform which can instantly process multicurrency transactions at almost no cost. #datamoney

decentralized blockchain decentralized blockchain near realtime transactions near realtime transactions almost no gas fees almost no gas fees staking rewards staking rewards 55 smart contracts smart contracts

Coin Usage

Electra Protocol has a coin named XEP (native token) running on its blockchain. The main purpose of this cryptocurrency is to be used for sending XEP coins in transactions and use it as a way to pay for transaction fees.

As Electra Protocol is an innovative proof-of-stake blockchain, users can also stake their XEP holdings directly on the network to support its availability and strength. Users cannot delegate XEP to 3rd party validators.

History and Launch XEP

Although the Electra Protocol blockchain is fairly new, it was launched in January 2021, most core team members work together since 2017. The long-term experience gives the team a competitive advantage.

Type of Blockchain

100% Distributed Proof-of-Stake

Circulating XEP Supply

~ 17,400,000,000 XEP coins

Currency Symbol

XEP (wrapped as token: WXEP)

Transaction Speed/Cost

1-2 seconds/~0.0002 XEP avg.

MainNet Launch

January 1, 2021

Staking Rewards

3% APY (via XEP Desktop Wallet)

Electra Protocol did not conduct any public funding (no ICO, IEO, IDO, or venture capital). The developments are entirely performed by volunteers.

The initial distribution of 30 billion XEP coins is as follows: All XEPs were offered to the public or are under management by the Electra Foundation on behalf of the community. The remaining funds are reserved for staking capacities (in order that the blockchain can pay out staking rewards in the future).

Coin Distribution SUPPLY

Electra Protocol has a dedicated, own blockchain and its currency is called XEP. In autumn 2021, a wrapped XEP token (WXEP) was created on the Binance Smart Chain in order to widen the audience.

Initial Allocation
of XEP Tokens

January 2021 - Initial tokenomics of XEP - Electra Protocol - stakes - supply

100% of all XEP tokens were originally dedicated to public use: 46% of its supply was available via airdrop, 44% were reserved to pay staking rewards, and 10% were kept back for the Electra Foundation to perform administrative tasks on behalf of the community.

From 10% to 6.7%: Premine Is Declining

Electra Protocol is using premine coins only for highly necessary expenses. For example, it does not pay Youtubers etc. for doing marketing. Unused XEP coins are burned every year. As a result, the premine already decreased from 3 billion XEP by around 33% to now 2 billion XEP.

Comparison of
Initial Token Allocations

Compare the “Initital Allocation of XEP Tokens” with any crypto project of your choice. Almost all crypto projects granted large stakes to insiders during excessive funding rounds (marked in red).

Messari - Initial Token Allocations for Public Blockchains

Electra Protocol is a layer-1 blockchain blockchain project aiming to become credibly neutral public infrastructure. That’s why Electra Protocol did not perform any initital coin offering, initial dex offering, initial exchange offering, venture capital, or other kind of public funding like the vast majority of layer-1 blockchains. Instead, all resources are crowdsourced from the growing community of volunteers.

Just like Bitcoin, Electra Protocol has never sought public funds to develop its technology. As a result of this, both crypto projects are believed to not pass the Howey Test used by the U.S. Securities and Exchange Commission (SEC) to classify securities. This means that any cryptoproject passing the test could face regulation by the SEC and potentially in other countries as well.