XION announced the white paper and token economics, with the community and Launch accounting for 15.19% of the total token amount

On December 4th, Chain Abstraction L1 XION officially released its white paper and token economics. The total supply of XION tokens is 200 million, with an initial circulation of 25,559,333 tokens, accounting for 12.78%, while the remaining 87.22% of tokens will be unlocked over time.
Of these, ecological incentives and project incubation account for 23%; strategic investors account for 26.81%; the team accounts for 20%; protocol development and foundation account for 15%; community and Launch account for 15.19%. 
XION serves as a utility token with functions including: network Gas, node pledge, governance, cross-chain fee settlement, collateralization and liquidity. XION supports a new type of abstract proof (Proof-of-Abstraction) consensus mechanism that enhances security through abstraction to solve the traditional trade-off problem between security and accessibility in Proof-of-Stake.