Electra Protocol is an innovative layer-1 blockchain which launched its MainNet in January 2021. During 2022, its smart contracts platform will be launched. The blockchain is open-source and driven by a worldwide community of volunteers, just like Bitcoin. In comparison to almost all other layer-1 blockchains, the XEP cryptoproject did not conduct any public funding.
The native currency of Electra Protocol is called XEP and it is running on its own blockchain.
As Electra Protocol has not received any public funding, the community is unwilling to pay excessive listing fees desired by most cryptoexchanges. As a result, XEP can yet only be bought on a limited number of exchanges. Also the listing process is longer compared to tokens running on existing blockchains, since technical developments have to be done by exchanges for connecting to the Electra Protocol blockchain.
In order to make XEP coins available to a larger audience, a Wrapped XEP token (called “XEP” on BSC) was created in October 2021 which is running on the BNB Chain. This is the token which you see when you use analytical tools made for the BSC chain.