Over the last few days you might have noticed that one of the most traded tokens on Hive Engine was XCHAOS. Many doubts, questions and uncertainties have arisen around this token, I have seen many messages on Splinterlands and Leofinance discords where users are asking about XCHAOS. That's why I've created this post as a summary of what we know about XCHAOS, how it will work and as a collection of everything in one, because the avalanche of questions can overwhelm and this way everything will be somehow organized.
XCHAOS distribution is connected to Phase 3 of the Chaos Legion packs sale when they will be officially distributed without the need to buy Vouchers. So why isn't it more profitable to individually buy as many CL packs as we want? This raises the question of how quickly the packs will sell out. Mostly on Splinterlands discord there was a discussion about how fast the packs will sell out. Some say it will take weeks, others don't dismiss the scenario of packs selling out in one day. Bulldog1205 described this discussion that in today's NFT presale world, $50 million is nothing. The scenario of quick sell off of packs is also more to my liking.
Hence the idea of creating XCHAOS - @gerber and @nealmcspadden have created XCHAOS as a form of group purchase of large number of Chaos Legion packs that anyone can join. Even if someone only wants to buy one pack.
So what does 1 XCHAOS Token contain? For one XCHAOS token you will receive one Chaos Legion pack and the associated airdrop value. This is something you don't get when you buy Chaos Legion packs from the second market because only packs bought through Splinterlands qualify for airdrops.
So what is the Airdrop Value all about? Every XCHAOS token holder will receive a portion of the value from the airdrops of all packs included in this project. Unfortunately, because one card will not be divided among several players, the most reasonable and fair solution will be to distribute DEC to players for selling cards (rentals are also in the plan, this is not a final decision). Prize distribution will be done daily so each day you will receive a DEC depending on how big a piece of the pie you have in the whole project, understandable right? The distribution will continue until the airdrop of SPS and airdrops of Chaos Legion cards are over. Personally I think this sounds like a good idea, not only are you buying a pack that you would have bought from the official Splinterlands store anyway but you are also providing yourself with a passive income that will last about 9 months.
The price of XCHAOS is flexible but if you watch the market (like I did when I was shopping) you can easily see that the price is around $6 per XCHAOS token. Depending on the market situation or HIVE price fluctuations the real cost of purchase may decrease so you are able to buy XCHAOS cheaper than the rest of the players. You can buy XCHAOS on TribalDEX.
Quick summary
- XCHAOS is not a Chaos Legion pack. XCHAOS is a token that gives you an official Chaos Legion pack plus shares in a multi-month distribution of Dark Energy Crystals.
- After purchasing XCHAOS you do not need to do anything. When the official main sale of Chaos Legion packs begins, your packs will be transferred to the Hive Engine wallet and your shares will provide you with a daily share of the profits.
- When the distribution of packs occurs, the price of the XCHAOS token may change.
- When you buy XCHAOS you are guaranteed to receive value from the airdrops. Buying 1 pack (which is much less than the guaranteed threshold of getting one card) from the official Splinterlands store you can pray if you get something or not, mathematical ruddy probability. When you buy XCHAOS you can be sure that you will get a given value from upcoming airdrops in DEC form - no probabilities.
If there are still any questions from you, I invite you to discord where you can learn more about XCHAOS.
If this article has interested you in any way, please leave an upvote or comment, thank you.
Thank you and until the next time, Nervi.
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There may not be a reasonable way to calculate it, but do you know if anyone has estimated the DEC airdrop value of buying a pack today and compared that to what might be earned through the airdrops on an xchaos pack? I realize that the second half of the equation would be pretty speculative.
I don't think anyone can count it. You would definitely have to take into account the value of all the airdrops in DEC which I think is very difficult because how do we know what cards we will get and how much they will be worth.
But very interesting topic, I need to admit.
@tipu curate 5
Upvoted 👌 (Mana: 83820/84000) Liquid rewards.
Really hoping everyone gets a chance to buy what they plan to, regardless the idea is really good and I bought a few. Might buy more soon!
Awesome to see that!