• 24 Mar 2023

    |

    Exzo Network (XZO)

    The Exzo Network is a Rust-based blockchain with a built-in EVM, enabling developers from Solana and Ethereum to build on one of the most versatile, low-cost, and fast networks available.

    Madeleine

    |

    Head of Community

    carlton

    Carlton Hoyt

    |

    SVP, Operations

    Exzo Network logo

    • April 4, 2023 update: The vote was held from March 27 - March 30, and the community & team vote has passed with 14 votes for, zero against, and zero abstentions. We will be working with Exzo Network on the listing of XZO.

    At-a-Glance

    Project

    • Project Summary: The Exzo Network is a Rust-based blockchain with a built-in EVM, enabling developers from Solana and Ethereum to build on it. Developers can deploy RUST and EVM smart contracts on the Exzo Network, providing even greater speed than Solana with even lower fees while remaining EVM compatible.

    • Founded: January 2021

    • Website: https://www.exzo.network/ 

    • Team Size: 17

    • Stage: Launch & Growth stage 

    • Whitepaper - https://docs.exzo.technology/ 

    Token

    • Symbol: XZO

    • Function: EXZO (XZO) is the native token for the EXZO blockchain

    • CMC listing: https://coinmarketcap.com/currencies/exzo-network/ 

    • Supply: 28,000,000 to 30,000,000 XZO at TGE

    • Maximum Supply: 50,000,000 XZO (theoretical; will be dictated by burning events)

    • Market Cap: Approx. $1,500,000 at the fair launch rate, at TGE

    • FDV: $2,500,000 at the fair launch rate

    Table of Contents

    • At-a-Glance

      • Project

      • Token

    • Table of Contents

    • Summary

    • Project Overview

      • Market Opportunity

    • Token & Tokenomics

      • Tokenomics

    • Founders / Key Team Members

    • Technical Development

      • Roadmap

      • Contract Audits

    • Fundraising / Financial

    • Traction / Community / Media

      • Social Media

      • News

    • Disclaimers

    Summary

    The Exzo Network was founded by Stefan and Quinton, both of whom possess significant expertise in software development, programming, and blockchain technology. Stefan met Quinton while searching for additional blockchain developers, and the duo embarked on a project in January 2021 aimed at reducing the hurdles developers face in building and releasing software.

    This undertaking eventually evolved into the Exzo Network, which has since garnered attention from developers across the globe.

    The tokenomics of the project are unique and appear strong as does the concept and roadmap. 

    Whilst it is a new project they appear to be delivering on roadmap milestones and building at a fantastic rate whilst also growing community and hype. 

    Project Overview

    The Exzo Network is a Rust-based blockchain with a built-in EVM, enabling developers from Solana and Ethereum to build on it. Developers can deploy RUST and EVM smart contracts on the Exzo Network, providing even greater speed than Solana with even lower fees while remaining EVM compatible. It aims to be one of the most versatile, low-cost, and fast networks available. The network utilizes the Artificial Intelligence Delegated Proof of Stake (AI-DPoS) consensus mechanism to provide a scalable and cost-efficient environment for developers and users to conduct transactions with stable fees. This approach aims to enhance accessibility and streamline the transaction process for all parties involved.

    Exzo Network's ecosystem dApps include:

    • Decentralized exchange for EVM and non-EVM chains.

    • Multi-chain bridge that also bridges the gap between EVM chains and Solana.

    • Launchpad.

    • Exzo Wallet Google chrome extension and mobile application for IOS/Android

    • NFT marketplace

    • Exzo Network mobile app for the Exzo Networks native chain only for delegating to nodes, sending and receiving transactions, etc.

    • Exzo Web Wallet for delegating to nodes, sending, receiving, and storing cryptocurrencies on the Exzo Network, Bitcoin, Ethereum, and several others.

    • Exzo Pay: Will enable merchants to accept stablecoins on the Exzo Network as payment in their stores.

    • Exzo Accounts: to create a passwordless experience for users.

    Exzo Network's tools include:

    • Exzo SDKs which includes standard data structures and testing tools for Solidity and compatibility with the EVM.

    • Exzo Wallet that lets application developers create streamlined user experiences.

    • Exzo Explorer to aid with both debugging of contracts and the understanding of network performance.

    • Exzo Command Line Tools to allow developers to deploy applications from local environments.

    Market Opportunity

    The theoretical opportunity for any layer-1 blockchain is enormous. Ignoring the possibility of EXZO displacing Ethereum, we can look at the potential demonstrated by other layer-1 networks:

    • Cardano: $13B+ market cap

    • Solana: $8B+ market cap

    • Tron: $6B+ market cap

    • Avalanche: $5B+ market cap

    The limiting factor in any layer 1 is not opportunity, but its ability to differentiate and grow in a very crowded space amongst hundreds of competitors. EXZO will need to attract a substantial number of developers to build on it if it wants to become a major layer-1 chain.

    Token & Tokenomics

    Native Token Information 

    • Native token name = Exzo

    • Native token symbol = XZO 

    • Wrapped token name = Wrapped Exzo 

    • Wrapped token symbol = WXZO 

    Token Supply and Price Information

    • Genesis pre-mined supply = 50,000,000 (50 Million XZO)

    • Total supply = 50,000,000 (50 Million XZO)

    • Total circulating supply = 28,000,000 to 30,000,000 XZO at TGE

    • Burn Rate = The transaction fee burn rate was initialized as 50% when inflation rewards were enabled at the beginning of 2021 and has not changed so far.

    • Fair launch rate = $0.05/1 XZO

    Token Distribution Break Down:

    • 58.8% is released to the community upon launch as a fair launch

    • 20% goes to the core contributors, including community developers and founding developers.

    • 10% is reserved for grants, which are governed by the community

    • 5% is reserved for market making and liquidity

    • 1.2% will be used for Airdrop rewards

    • 5% will be used as a scam recovery fund, the distribution of which will be community-governed

    Ecosystem Tokens:

    • Exzo Token (XZO) - Native blockchain token, governance and utility token.

    • Wrapped Exzo Token (WXZO) - Wrapped version of our native blockchain token.

    • Exzo Stable Coin (USDX) - An algorithmic stable coin for the Exzo Network ecosystem.

    Utility

    XZO is the native token on the Exzo Network blockchain to pay for gas fees for sending transactions, deploying smart contracts. XZO can be further used for staking to run node validators or delegate towards node validators to earn rewards for securing the network. 

    XZO is used for reducing fees on the multi-chain, non-custodial Exzo Wallet applications. It plays a key role in governance decisions, thereby maintaining the network’s decentralization. Voting will govern grants, projects being bridged to or integrated, and certain network parameters.

    Tokenomics

    Exzo Network's Tokenomics is based on DPoS economics, incentivizing and rewarding network participants to collaborate and contribute to the growth of the network. The economic model optimizes interactions among participants and ensures that everyone works together towards a common goal. The primary actors in the economy are validation clients, who are rewarded through a combination of protocol-based incentives and transaction fees. 

    The network's inflation schedule is designed to provide a predictable supply, promoting long-term economic stability. The proposed inflation schedule includes an initial inflation rate of 8%, a disinflation rate of -15%, and a long-term inflation rate of 1.5%. The network aims to distribute a large portion of the XZO issued via inflation to stakers and validators, ensuring reasonable staking yields for token holders who delegate XZO and for validation service providers. The network's overall token issuance and expected token losses and burning over time are also taken into consideration.

    The above shows the total circulating supply of XZO over time, and how the staking yield and adjusted staking yield metrics are primarily a function of the % of total XZO staked on the network. To become a validator, a user needs at least 10k XZO tokens, and to become a delegator, a user should have at least 1 XZO. The Exzo Network holds 10 million XZO tokens overall, of which 5 million XZO is available initially to support operating node validators, ecosystem projects, grants, and community growth initiatives.

    Founders / Key Team Members

    • Founder / Lead Developer - Stefan Creadore

    • Lead Partnership Strategist - Ryan Stryker

    • Senior Blockchain Developer - Quinton Phelps

    • Senior Front-End Developer - Tomas Lee

    Notable Partners

    Technical Development

    Roadmap

    Q1 - 2022

    • Exzo Network testnet development - on time

    • Exzo Network testnet deployment - on time

    • Decentralized exchange (DEX) development - on time

    • ExzoSwap non-custodial mobile app development - on time

    • NFT marketplace development - on time

    • Staking dApp development - on time

    Q2 - 2022

    • ExzoSwap Alpha testing launch - on time

    • Decentralized exchange testnet deployment - on time

    • Exzo Network testnet deployment with internal testing - on time

    Q3 - 2022

    • Exzo Network testnet deployment to public Beta - on time

    • Exzo Network node validator incentivized program - on time

    • Decentralized exchange mainnet deployment - on time

    • Staking dApp testnet deployment - on time

    • Testnet block explorer development - on time

    • Mainnet block explorer development - on time

    Q4 - 2022

    • Exzo Network testnet ecosystem dApp development - on time

    • Exzo Network smart contract audits - on time

    • Launchpad partnership development - on time

    • Exzo Network Mainnet deployment - on time

    • XZO pre-listed on CoinMarketCap - on time

    • XZO pre-listed on CoinGecko - on time

    • Develop CEX listing partnerships for XZO - on time

    • Develop RPC provider partnerships for the Exzo Network - on time

    • Team expansion (1-2 developers) - on time

    • Testnet block explorer deployment - on time

    • Mainnet block explorer deployment - on time

    • Launchpad development - on time

    • Cross-chain bridge development - on time

    • non-custodial mobile wallet deployment to mainnet - on time

    Q1 - 2023

    • CEX listing(s) for XZO

    • Team expansion (2-4 developers)

    • Corporate partnership(s) development for payment processing using XZO

    • Web3 wallet extension development - ahead of schedule

    • USDX stable coin development

    • Goal of 50-100 node validators - on time

    • Ecosystem expansion

    • Launchpad deployment to mainnet - on time

    • Cross-chain bridge deployment to mainnet - on time

    • non-custodial mobile wallet deployment to mainnet - on time

    Q2 - 2023

    • Web3 wallet extension beta testing

    • Metaverse development discovery or partnership creation

    • Healthcare data management Web3 wallet discovery and planning phase

    • Goal of 100 node validators

    • Stablecoin design and development or partnership with a current Stablecoin provider such as USDT or BUSD if possible

    • XZO fair launch on launchpad partner(s) - on time

    • Goal of 80% circulating XZO to be delegated towards node validators

    Q3 - 2023

    • Goal to have 5-20 projects building on Exzo Network or integrating Exzo Network

    • Exzo Network grant and governance voting established

    • Dedicated RPC node providers partnerships and ecosystem expansion

    • Loginless account development

    • Exzo Pay for eCommerce and merchants development

    Q4 - 2023

    • Web3 wallet extension deployment

    • Goal to have 20-50 projects building on Exzo Network or integrating Exzo Network

    • CEX listings

    • Loginless account public beta testing launch

    • Exzo Pay for eCommerce and merchants public beta testing launch

    • Current runway (if under 12 months, should include a fundraising plan)

    Contract Audits

    All audit links can be found here (Certik and SolidityScan) - https://docs.exzo.technology/links/smart-contract-audits 

    Fundraising / Financial

    Please note: Deepwaters does not ask projects for financial documents and relies on the statements of the projects.

    EXZO Reports they have a current fundraising plan in place, which will culminate in the fair launch of XZO.

    • Create general and development partnerships with other projects, CEX's, developers, on-ramp and off-ramp service providers, Node as a service providers, and other DeFi projects. • Deployment of the Exzo Network devnet, Exzo Network testnet, and Exzo Network mainnet, which we already accomplished as our block explorer is live at https://exzoscan.io • Deployment of our multi-chain non-custodial crypto wallet known as Exzo Wallet that provides users with access to their favorite chains such as Ethereum, Solana, XRP, Tron, Bitcoin, and other EVM compatible chains as well as the ability to view live market data and price charts. This has been accomplished as we are finishing up integration of the Exzo Network. • Deployment of our Exzo Wallet chrome extension, which is completed but we are just adding the Exzo Network support to it. • We will then utilize GemPad to conduct a fair launch of our coin on the Ethereum blockchain that will be bridged to the Exzo Network. This ensures liquidity is safe on an established chain during the time of Beta and will be migrated to our chain after 12-24 months of steady performance.

    Traction / Community / Media

    Social Media

    • Twitter - 38k+ followers [link]

    • Instagram - 7k+ followers [link]

    • Telegram members - 9,700+ [link]

    • Discord members - 3,850 [link]

    • Website traffic - 32,000-44,000 users a month

    • Crew3 members - 25,000+ [link]

    • GitHub Followers - 687 “plus a lot of forks of our repositories” [link]

    News

    Disclaimers

    This report of the EXZO Network Token (the “Token”), issued by EXZO Network (the “Issuer”) is made by Deepwaters EU s.r.o., a Czech limited liability company, company number: 179 11 257, with its registered seat at Rybná 716/24, Staré Město, 110 00 Prague 1, Czech Republic, email: info@deepwaters.xyz (the “Exchange”).

    This report is not, nor should be considered, an endorsement, approval or disapproval of any particular project, team, code, technology, asset or anything else. This report is not, nor should be considered, an indication of the economics or value of any technology, product or asset created by any team or project. This report does not provide any warranty or guarantee regarding the quality or nature of the technology analysed, nor does it provide any indication of the technology’s proprietors, business, business model or legal compliance.

    To the fullest extent permitted by the applicable law, the Exchange disclaims all warranties, expressed or implied, in connection with this report, its content, and the related services and products and your use thereof, including, without limitation, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. This report is provided on an as-is, where-is, and as-available basis. The Exchange does not warrant, endorse, guarantee, or assume responsibility for any product or service advertised or offered by the Client or any third party through the product, any open source or third-party software, code, libraries, materials, or information linked to, called by, referenced by or accessible through the report, its content, and the related services, assets and products, any hyperlinked websites, any websites or mobile applications appearing on any advertising, and the Exchange will not be a party to or in any way be responsible for monitoring any transaction between you and the Client and/or any third-party providers of products or services.

    This report should not be used in any way by anyone to make decisions around investment or involvement with any particular project, services or assets, especially not to make decisions to buy or sell any assets or products. This report provides general information and is not tailored to anyone’s specific situation, its content, access, and/or usage thereof, including any associated services or materials, shall not be considered or relied upon as any form of financial, investment, professional, tax, legal, regulatory, or other advice.

    This report is based on the scope of materials and documentation provided for a limited review at the time provided. The Exchange prepared this report as an informational exercise documenting the due diligence involved in the course of listing of the Client’s token on the Exchange only, and this report makes no claims or guarantees concerning the smart contract's operation after listing. This report provides no opinion or guarantee on the security of the code, smart contracts, project, related assets or anything else at the time of listing or after listing. Smart contracts can be invoked by anyone on the internet and as such carry substantial risk. The Exchange has no duty to monitor the Client’s operation of the project and update the report accordingly.  

    The information contained in this report may not be complete nor inclusive of all vulnerabilities. This report is not comprehensive in scope, it excludes a number of components critical to the correct operation of this system. You agree that your access to and/or use of, including but not limited to, any associated services, products, protocols, platforms, content, assets, and materials will be at your sole risk. On its own, it cannot be considered a sufficient assessment of the correctness of the code or any technology. 

    Deepwaters has conducted the analysis for its own internal purposes and should be perceived as such, therefore, Deepwaters recommends seeking multiple independent opinions on any claims which impact any functioning of the code, project, smart contracts, systems, technology or involvement of any funds or assets. Deepwaters’s position is that each company and individual are responsible for their own due diligence and continuous security.

      Sign up for our newsletter.