How XCEL Launches and Distributes Tokens
XCEL
- Zero team allocation
- Initial supply: 1 billion tokens
- All XCEL minted via:
- Bonding curve purchases (xlUSD → XCEL)
- XRT exercise (1 XRT + 1 xlUSD → 1 XCEL)
Every XCEL in existence is backed by real USDC. There are no pre-mined tokens, no insider allocations, no team dumps.
XRT
| Parameter | Value |
|---|---|
| Initial supply | 400,000,000 |
| Treasury allocation | 100% (all 400M) |
| Target yearly inflation | 5% ceiling |
Weekly Emission Schedule
XRT is emitted weekly every Thursday at 00:00 UTC and distributed as follows:
| Recipient | Share |
|---|---|
| XCEL+ stakers | 80% |
| Treasury | 15% |
| Team | 5% |
| Parameter | Value |
|---|---|
| Starting emission | 1,000 XRT / week |
| Maximum emission | 1,000,000 XRT / week |
| Tail emission (minimum) | 1,000 XRT / week |
For how XRT works and inflation mechanics, see XRT — Perpetual Call Options.
Treasury XRT Strategy
The treasury holds 400 million XRT. This gives the treasury control over the pace of future XCEL supply expansion:
- Sell XRT to participants who want to mint new XCEL, generating USDC revenue
- Modulate availability to manage inflation in real-time
- Fund liquidity by deploying XRT sale proceeds into xlUSD/USDC swap pools
XRT is priced based on XCEL's premium above floor. If XCEL trades 10 cents above floor, the treasury can sell XRT at 5 cents each — leaving enough spread to incentivize minting while capturing real revenue.
Deployment
XCEL is deployed exclusively on Base.
Concentrating on a single chain means deeper liquidity, cleaner UX, and a tighter feedback loop for iteration — without the operational overhead of bridge risk, liquidity fragmentation, and multi-chain auditing.
Launch Philosophy
No over-engineered incentive schemes, no liquidity mining emissions, no artificial bootstrapping. The protocol's mechanics speak for themselves. Growth comes through organic adoption and word of mouth — slow and real beats fast and hollow.