XION announces white paper and token economics, community and launch account for 15.19% of total tokens

Chain Abstraction L1 XION officially released white paper and token economics. The total supply of XION tokens is 200 million, and the initial circulation is 25,559,333, accounting for 12.78%. Among them, ecological incentives and project incubation account for 23%; strategic investors account for 26.81%; the team accounts for 20%; protocol development and foundation account for 15%; community and Launch account for 15.19%. As a utility token, XION's functions include: network Gas, node staking, governance, cross-chain fee settlement, mortgage and liquidity. XION supports a new Proof-of-Abstraction consensus mechanism, which improves security through abstraction and solves the trade-off between security and accessibility in traditional Proof-of-Stake.