KEY TAKEAWAYS
- KuCoin lists XL1, the utility token of XYO Layer One, introducing the XL1/USDT trading pair.
- XL1 is integral to the XYO Layer One ecosystem, facilitating transactions, smart contracts, and validator rewards.
- The XYO Layer One ecosystem features a dual-token model, enhancing blockchain operations and contributor network activities.
- KuCoin advises investors to conduct personal risk assessments due to the volatile nature of cryptocurrency markets.
KuCoin has announced the listing of XL1, the utility token of XYO Layer One, on its Spot trading platform. The listing introduces a new trading pair, XL1/USDT, and offers various trading bot services. The announcement was made here.
The schedule for the XL1 listing is as follows: Deposits are effective immediately on the Ethereum network (ERC20). A call auction will take place from 12:00 to 13:00 UTC on September 16, 2025, with trading commencing at 13:00 UTC on the same day. Withdrawals will be available starting at 10:00 UTC on September 17, 2025.
XL1 serves as a utility token within the XYO Layer One ecosystem, a scalable data blockchain designed to bring verifiable information on-chain. It is used to pay for gas and transaction fees, with a portion of these fees being burned through activity. Additionally, XL1 powers smart contracts, decentralized applications (dApps), and validator rewards. It also facilitates bridging and wrapping to other chains and incentivizes participation through staking and step-based rewards.
The XYO Layer One ecosystem operates with a dual-token model. While XL1 runs the blockchain, XYO powers the contributor network, which includes rewards, staking, governance, and security. The ecosystem’s DePIN (Decentralized Physical Infrastructure Network) features a trustless oracle with over 10 million nodes, providing trusted data for applications in AI, real-world assets (RWA), geospatial intelligence, and location-based gaming.
KuCoin has emphasized the importance of conducting personal risk assessments when investing in cryptocurrencies, highlighting the volatile nature of the market. The platform attempts to screen all tokens before listing, but acknowledges the inherent risks involved in cryptocurrency investments.
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