X2 is the complement to GRIMEX in the SpaceGrime financial ecosystem. X2 is a deflationary token optimized as a store of value with a total supply of only 21,000 making it 1000 times more scarce than Bitcoin. X2 was created by the SpaceGrime team to serve as the ultimate long term store of value, the future as a complement to the interplanetary currency GRIMEX. Unlike GRIMEX that has a very high supply and very low transaction fees, X2 is optimized to become extremely scarce over time and for it’s value to increase to more than any other coin. It has very low supply hyper-deflationary features far exceeding that of any other token. X2 will have a mechanism implemented which charges a high fee to sellers and requires very high slippage settings. This fee will be 20%, of which 10% is “burned” in locked liquidity and 10% is redistributed to the other wallets holding X proportionate to their holdings. Slippage settings must be 25% for a transaction to go through. In the future, just like GRIMEX, X will also be able to migrate and be interoperable with other layer-1 Blockchains for redundancy; X2 wouldn’t have to live with the shortcomings of any particular chain. X will initially be available for purchase on PancakeSwap paired with BNB and priced at 1 BNB.
Half of the supply of X2 will be airdropped to GRIMEX holders who meet the following requirements: bought between May 10 and May 17 and did not sell for a week and filled out the form that was circulated (which is now closed). However, as the first part of this airdrop happened, it was clear that many people sold at once, so we made the decision to proceed with the remainder of the airdrop sporadically over the course of some vague undefined period and leaving it to holders to find their airdropped X themselves without any announcement from the team. The idea is that this will reduce short term selling pressure.
X2 is not intended for spending or trading. It is the equivalent of a large diamond: you can hold it forever and if you need currency to spend you can use it as collateral for a loan. X will be able to collateralize loans of GRIMEX in another smart contract. There will be a GRIMEX treasury pool where GRIMEX holders will be able to lend out their GRIMEX to other holders who seek loans and who wish to use their X2 as collateral. The collateral ratio will be about 200 so as to help avoid any issues due to volatility. Interest will be in terms set by and agreed to by both parties, however limits will be imposed to no higher than 10% APR and will automatically adjust to the most competitive rate in the market SpaceGrime.