The Origin and Evolution of XPR Network

Introduction To XPR Network

As the saying goes, “the only constant is change”. Well, for those building in the world of crypto, this statement couldn’t ring truer.

In order to excel, you have to constantly adapt to your surroundings. And that’s exactly what  XPR Network has done since its mainnet launch in 2020.

Grab some popcorn and get comfortable, Roaders – let’s dive in.

The Early Stages of XPR Network

It all started with a mainnet launch in April 2020, right before the onset of DeFi summer and the last bull run. Along with mainnet, XPR introduced a sleek in-house wallet, native staking, smart contract capability and the $XPR token, which is still the core of XPR Network today.

They attracted a loyal community and excelled through the end of 2021. Up until the gruesome bear market came, and no one was safe.

Even though they’re rough, bear markets are good for two things: building and building. Well, that’s exactly what XPR Network’s team did every single day.

And that leads us to today…

The Next Iteration of XPR Network

Years later, XPR Network boasts a thriving developer community and a full suite of native dApps. And they’ve accomplished a lot since as well:

  • The network has maintained 100% uptime since their mainnet launch
  • ~800M transactions have occurred on their blockchain
  • They launched a grant program powered by a DAO, allocating 4 billion XPR (worth 6.5m USD at the time) to expand the XPR ecosystem 

But not only that. They’ve introduced improved features, a new look, and are still backed and developed by the same best-in-class team from their initial launch.

Importantly, XPR Network decided to align itself with the ISO 20022 standard, providing it with seamless communication to traditional banking systems. This puts them in the perfect spot to cater to financial institutions who want to leverage blockchain technology. 

All of these advancements come together, collaborating towards XPR Network’s core mission to be the blockchain for everyone.

Principles that can also be found in the team building this ecosystem on a daily basis. Their Director of Marketing, Will Cleaver, discussed his main reason for joining XPR’s team with us:

“I discovered a Reddit AMA with Marshall Hayner, CEO of Metallicus. He was the first founder I’d heard of with a vision for compliant blockchain solutions that could integrate with the existing financial system. I then discovered the work he did with Congress on the 2020 Cryptocurrency Act, and the rest is history. I’ve been at Metallicus for two years now, and it’s been incredible to witness the company bring the vision to life, especially with our recently announced integrations.”  

What makes XPR Network stand out?

There’s no shortage of blockchains in the crypto world. Most were created to fit specialized purposes, and all carry unique roadmaps and goals.

The goal of XPR network? Be the blockchain for everyone. In any industry.

A goal Metallicus has been progressing towards by implementing a highly scalable and intuitive network with development capabilities that anyone can build on. This includes a wide variety of languages for developers, including C++ and Typescript which compile down to WebAssembly (WASM), making it an exceptionally versatile blockchain solution that can plug into any business.

And the growth shows in their success:

  • Compliance & Regulation: Compliance is the focal point of everything that Metallicus (the core developer of the XPR Network) does. By putting an emphasis on staying compliant, they are able to remain at the forefront of new innovation and continue to blaze the trail for on-chain identity verification.
  • Dedicated Community: With a decentralized network, a strong community is essential. And after years of building, XPR Network boasts one of the strongest communities in the space. Not only do they help govern the overall blockchain ecosystem, but they vote on everything happening around the network, including this partnership with Milk Road!
  • Organic Growth: XPR network has been able to sustain growth and excel completely organically. The network has no VC investors, and this partnership is one of the first steps into a planned roadmap of community driven marketing initiatives.
  • Scalability / Gasless Transactions: The high efficiency of XPR network provides users with a seamless experience at a very low cost. Users can transact freely without worrying about high transaction fees or congested networks.
  • 100% Network Uptime: XPR Network has maintained a 100% network uptime since its launch, ensuring accessibility. It’s hard to put a price on reliability.

The Core Mission of Metallicus

Metallicus, the core developer of the XPR Network, according to their mission statement are ‘Building the world’s most customer centric digital asset banking network’ and the layer one XPR Network plays a big role in that mission.

In addition to being a core developer, Metallicus has developed a suite of compliant blockchain and digital asset solutions, including Metal X, a decentralized ‘super-app’ that uses XPR Network for on-chain trading, of course with no gas fees. 

And it doesn’t stop there, here’s a complete overview of the Metallicus ecosystem.

XPR Network

XPR Network is Metallicus’ layer 1 (L1) blockchain, which powers decentralized applications (dApps) and instantaneous payments. As opposed to some other L1s, XPR network is highly scalable, leading to quick confirmations and gasless transactions for users.

In addition to its scalability, XPR network differentiates itself by being at the forefront of compliance and regulation, with its on-chain identity protocol. This focus makes it a strong fit to communicate with banks, payment processors and traditional fiat gateways.

XPR network is the foundation of Metallicus and provides the infrastructure needed for the rest of their offerings to excel.

Metal Blockchain

While XPR acts as Metallicus’ layer 1 blockchain, Metal Blockchain serves as their layer 0 solution. Layer 0 blockchains provide the building blocks needed for developers to build their own customized blockchains and frictionless dApps.

Specifically, Metal Blockchain caters to developers who put an emphasis on interoperability and compliance. These attributes, along with near instant finality, makes Metal Blockchain a perfect fit for the needs of the global financial sector. Which they’re already proving with the announcement of integrations with existing financial services providers, and the well known NFT marketplace Rarible.

In addition to their current offerings, the team keeps on building. They are in the process of deploying XPR Network on Metal Blockchain as the A-chain (subchain). And they’ve already made significant progress.

Metal Pay

Metal Pay

Metal Pay is Metallicus’ first product, an easy to use crypto app, accompanied by industry-competitive fees and a seamless user experience. This wallet allows users to easily access fiat on/off ramps, as well as buy and sell a wide range of popular cryptocurrencies.

Metal Pay also comes bearing unique features, such as the ability to set up recurring purchases, trade directly peer-to-peer, and pay your bills directly. And to add to all of the features, Metal Pay prioritizes compliance and asset security for its users.

Metal X

Metal X Decentralize Trading

Metallicus also offers one of the most innovative decentralized exchanges in the industry. Metal X provides users with a CEX-like trading experience, all while maintaining the core principles of decentralization.

Metal X comes equipped with a professional interface that allows you to view advanced charts, order books and other analytics from one integrated platform. Users can take advantage of a built-in bridge, liquidity pools and farms, and even asset lending from one convenient dashboard.

Lastly, the platform boasts the capability to handle OTC trading, granting users the ultimate flexibility. It’s not often a platform is able to provide a professional trading experience in a decentralized manner.

WebAuth Digital Wallet

WebAuth Digital Wallet

Metallicus also developed a self-custodied offering that allows users to fully immerse themselves in the XPR Network and Metal Blockchain. The WebAuth Wallet functions similarly to most other crypto wallets, but it also includes several unique features.

First off, the WebAuth wallet allows you to choose an on-chain human readable username when you first set it up. This allows you to easily send money around and establish a digital identity, all for free with your wallet creation.

Another great feature of the WebAuth Wallet is the ability to assign additional transaction signing devices, such as your keyboard TouchID or Yubikey, which you can easily set up by visiting WebAuth.com.  

Further, the wallet offers an attractive interface for users to view and manage their digital assets, as well as flexible settings and customization options.

Native Coin ($XPR)

To power and govern their network, XPR launched a native coin in 2020. This token puts ownership in the hands of the community, by providing holders with governance rights and voting on block producers, as well as the ability to stake their tokens and pay for network resources.

In addition to $XPR, Metallicus has the following tokens in its ecosystem:

  • Metal DAO ($XMT): A community-driven DAO that governs the Metal Dollar protocol.
  • Metal Blockchain ($METAL): The native token of the Metal Blockchain, allowing holders to stake and vote on things such as emission rates and transaction costs.
  • Loan Protocol ($LOAN): This token ties together the loan ecosystem on Metal X and is used to reward borrowers and lenders for their platform usage.
  • Metal Dollar ($XMD): XMD is the world’s first smart contract powered basket of stablecoins.

Getting Started With XPR Network

We get it Roaders, there’s a lot going on with XPR Network. But now that we’ve covered it all, you’re probably wondering how you can dive in yourself.

The good news? It only takes a minute and a few clicks.

Simply download their native wallet and set it up just like any other crypto wallet. If you’re not familiar with that process, you can check out our guide here.

Matt Pearlstein
Matt Pearlstein
Analyst
Matt found crypto in 2016 and left TradFi to go full time in the industry a few years back. He is deep in the weeds of DeFi and also likes to go to the beach and play basketball.

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