Users deposit money into Liquidity Pool to exchange for the corresponding Mint Pass. With each Buy or Burn mechanism, users can receive the amount of Token X corresponding to the fee spent.
A detailed technical standard for XTech that enhances security and identity based on core
technology from ERC-20 along with Smart Contract platform from ERC-1155
Enhanced Liquidity
ERC-1001 is a hybrid technology between ERC20 and ERC1155 standards, fostering both enhanced liquidity and robust decentralization for Web3 Domains.
A hyper-secure technical standard represents a groundbreaking fusion, empowering NFT with unwavering decentralization.
XNS is a domain naming system that provides domain registration services to create a readable domain and leads to a certain wallet address.
Users deposit money into Liquidity Pool to exchange for the corresponding Mint Pass. With each Buy or Burn mechanism, users can receive the amount of Token X corresponding to the fee spent.
"Burn" - this action is performed when the user wants to burn (permanently destroy) their Mint Pass number, either immediately after purchasing it or even at a later time when they know the number of characters in that Mint Pass. After burning the Mint Pass, the user will receive ETH equivalent to the value of the Mint Pass/ETH at the time the Burn transaction is executed. When the user completes the order, the corresponding amount of ETH will be returned to the wallet and an additional amount of X Reward equivalent to the 3% fee will be awarded to the user.
Mint Pass in ERC20 format are transferred to the DON to encrypt and automatically randomize the number of characters. Through this step, Mint Pass will have its technical standard changed to ERC 1155. Users can now set a domain name based on a random number of characters. At that time, the user's request will be sent to the DDRS and this system performs a thorough check to indicate whether the domain name is registered or not.
When duplication does not occur, users can claim Mint their XTech domain name and become part of the X Name Service (XNS). Here, users own their XNS in both forms including NFT and Web3 Name Service. Their NFT is in technical standard ERC 721 and has an exclusive profile picture, with Web3 domain, users can use the domain name of their to access the internet and own their own site
XNS is a domain naming system that provides domain registration services to create a readable domain and leads to a certain wallet address.