XPZ: A Cross-Chain Asset

by Esprezzo Team on February 21, 2020

As we continue to prepare our smart contract integration product suite for beta testing and follow developments in the blockchain space, it’s becoming increasingly clear how important interoperability and token portability is going to be. That’s why we created XPZ, an experiment in building a sustainable and extensible cross-chain programmable asset.

At Esprezzo we are building an ecosystem of tools and services to help developers more easily integrate smart contracts and blockchain services into new and existing applications. This includes a library of smart contracts that are easy to configure and deploy via our SaaS platform and require no working knowledge of smart contract development. 

Our goal is to extend our libraries and APIs to serve as many types of clients and projects as possible. We want to offer a platform that enables all levels of developers to bring blockchain products to market efficiently and in a forward-thinking, sustainable manner.

Why XPZ?

Much of our smart contract work requires a digital asset that is purely smart contract based and provides abilities that do not fit well into "layer 1" or "gas" token such as PRKL, and is not native to, and stuck on its "own blockchain".

While the Perkle blockchain is the core, first layer platform we are developing on and deploying to, we want to extend our second layer tools and services across additional networks to provide the greatest flexibility and choice for developers. By being purely smart-contract based, XPZ serves a distinctly different (cross-chain) purpose than PRKL, a token native to the Perkle blockchain. Token portability means XPZ won’t be forever tied to the blockchain on which it originated (Perkle), increasing its utility.

Token Portability

Currently, XPZ only exists on the Perkle blockchain and can only be obtained using Perkle. Later this year XPZ will be "bridged" to Ethereum mainnet, so that XPZ can be transferred from Perkle to Ethereum and vice versa. In the future XPZ should have the ability to integrate with services on any blockchain or programmable network that we see value in supporting and we will continue to explore emerging networks and protocols. The decision to integrate with or deploy on new networks will be based on user demand, goal alignment and technical feasibility.

XPZ is an exercise in cross-chain interoperability and middleware bridge technology; our first priority remains getting our smart contract integration tools ready for beta testing. Releasing XPZ is providing valuable feedback, with our community helping test this contract that will eventually be added to our growing smart contract library.

We have been seeing strong demand for our tools across various verticals including healthcare, financial services and nonprofits. If you are working on a project and interested in utilizing Esprezzo’s smart contract templates, API, SDKs or bridge technology please reach out to learn more about our pilot program.

Possible use cases for XPZ:
  • A subject to test ERC20-compliant staking and Decentralized Finance (DeFi) contracts
  • A way to describe and create value with on-chain oracles and data provider services
  • A default smart-contract-based asset to use across our growing ecosystem
XPZ Token Details:
  • Symbol: XPZ
  • Decimals: 18
  • Token contract supply hard cap: 10 Billion (10,000,000,000) XPZ
  • Initial minting contract (total supply) capped at 1 Billion (1,000,000,000) XPZ
  • Build: ERC20+
Stage 1 XPZ Emission and Minting Contract: 
  • An on-demand "mintable crowdsale" style contract with a static rate of 100 XPZ per 1 PRKL. In other words, the sender receives 100 XPZ per 1 PRKL sent to the contract address (0x59Ca834aC152553E7e064167a7d186BcB4378aBb).
  • You can view the current supply by typing the following in our Discord channel using PerkleBot: !token XPZ
  • Remember that the token contract itself has a hard cap of 10 billion (10,000,000,000) forever
  • The initial emission/crowdsale contract has a hard cap of 1 Billion (1,000,000,000)
  • The current contract/rate ends in mid March or when 1 Billion (1,000,000,000) XPZ have been minted
Future Emission/Distribution plans:

Our goal is to reach but not exceed a 1.5 Billion XPZ emission by the end of 2020 using a combination of:

  • A series of additional rate-tapered minted crowdsale stages on the Perkle network
  • Distribution to participants in the development and testing of experimental staking contracts which should result in a longer term emission model
  • Service participation rewards (oracle feeder/voter rewards)
  • Esprezzo SaaS platform demo enablement 

We're exploring the idea of using PRKL in the development of "base token" staking/emission contracts as well.

Where does the incoming PRKL go? 

PRKL sent to the XPZ minting contract address will be deposited into a timed release contract at 100k per quarter (3 months) until it is gone.

PRKL will be used for:

  • Development and testing of smart contracts by Esprezzo (Gas fees)
  • Powering on-chain services such as bridges and oracle gateways
  • Use in the development of "signed voting" contracts to decide where portions of it are used as it is unlocked.

We're exploring the idea of using PRKL in the development of "base token" staking/emission contracts as well.

Guide to XPZ

Getting XPZ using PerkleBot in Discord:

You must have PRKL to get XPZ. If you are a member of our Discord server and have a Discord wallet set up, the easiest way to get XPZ is to use PerkleBot, our Discord Bot.

You will receive 100 XPZ per 1 PRKL sent to the contract address, and as PRKL has 18 decimals, you can send fractional amounts of PRKL for testing purposes.

To send 0.5 PRKL to the XPZ contract address, type the following into Discord:

!perkle send 0x59Ca834aC152553E7e064167a7d186BcB4378aBb 0.5

Replace "0.5" with the quantity you wish to send.

Checking XPZ Balance in Your Discord wallet:

To check the balance of XPZ in your Discord wallet, type the following into Discord:

!token balance xpz

PerkleBot will display your current balance of XPZ in a private message.

Adding XPZ to MEW

For security, you may want to transfer your XPZ to MyEtherWallet (MEW) instead of keeping it in your Discord wallet.

As XPZ sits on top of Perkle, you’ll need to connect MEW to Perkle. Make sure you set the correct port and chain ID!

After you’ve connected to Perkle, you should see the following in the Network box:

screen shot of MyEtherWallet dashboard connected to Perkle blockchain

Now to add XPZ, click “+ Custom Tokens” in the Tokens box underneath the Network box:

Screenshot of MyEtherWallet dashboard with Custom Tokens box circled

You should see this pop-up:

Screen shot of MyEtherWallet - form for adding a custom token

Fill in the fields as follows:

  1. Token Contract Address: 0x824B98BdbD2AFB7D5f5AcFeAF68e5e99e5A8aFa5
  2. Token Symbol: XPZ
  3. Decimals: 18

 Screen shot of MyEtherWallet dashboard - form for adding XPZ token

Click Save. You should now see XPZ listed in the Tokens box with a balance of 0. Here is what mine looks like after we sent 1 XPZ to MEW. We’ll go through how to do that next.

Screen shot of MyEtherWallet dashboard - custom token XPZ added to wallet

Transferring XPZ to MEW

To transfer XPZ from your Discord wallet to MEW, copy the address from the Address box in MEW:

Screen shot of MyEtherWallet dashboard with wallet address circled

You’ll be pasting your address in a PerkleBot command on Discord:

!token transfer <your MEW address> <number of XPZ you wish to transfer> xpz

In the example below, the user is sending 1 XPZ from their Discord wallet to MEW:

Esprezzo Discord PerkleBot token transfer command

You’ll see a private message from PerkleBot in Discord:

Esprezzo Discord PerkleBot transaction confirmation message

To view the transaction on the block explorer, click on the blue “Transaction Sent” link. It may take a minute or two for the block containing the transaction to get mined and the transaction information to show up. 

To view your XPZ balance on MEW you may need to click the refresh button in the Tokens section:

screen shot showing how to refresh MyEtherWallet custom token balance

And that’s it!

Have questions or feedback? Need help or just want to chat with the team and other community members? Join us on Discord!

Are you a developer interested in experimenting with building applications that talk to blockchains? Please consider joining our private beta; it's free!

Topics: News, Perkle

Esprezzo Team
Esprezzo Team

Esprezzo’s mobile and web development platform & tools empower developers and organizations to quickly build smarter, faster blockchain-integrated apps and grow their next generation businesses. We help clients and developers understand where, when, and what data makes sense to store in a decentralized manner. Through education and user-friendly tools, we aim to make integrating blockchain technology into new or existing business applications accessible without needing to hire an army of blockchain developers or seasoned infrastructure engineers to manage decentralized servers.

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