When you log in to your account for the first time on the Exeedme platform, you see a new symbol on the balance account. This symbol is pretty different from the XED one, which is the Exeedme cryptocurrency, and its value doesn’t reflect the XED value.
So what is this currency?
You don’t have to worry about it because it is EXE: the in-platform stable currency. In other words, it is a currency which value is pegged to the US Dollar, and it is independent of cryptocurrency price changes.
If you’re crypto savvy, you can consider it a stable coin, like USDT, BUSD, USDC, or any other stable currency pegged to the US Dollar. If you’re not familiar with the crypto space, you can continue reading to understand what EXE is and the main differences from XED.
What is EXE, and how it works?
EXE is the stable currency of Exeedme, and you can use it only on the platform. Its value is pegged to the US Dollar, and 100 EXEs equal 1 USD.
When you add funds to your Exeedme account (also read: How to add funds to your Exeedme account from Binance?), your deposit will automatically convert in EXEs.
This conversion happens for two main reasons:
- you understand, at any time, how much you’re betting, and you know the value in USD of your balance
- you are not subject to the volatility of the cryptocurrency market
Let’s take an example to understand better how it works.
We assume that the value of 1 BTC is 60 thousand USD.
If you deposit 1 BTC on the Exeedme platform, your deposit will be converted to 6.000.000 EXEs. You start playing. You win some matches, and you lose others.
Let’s assume that your balance is still 6.000.000 EXEs after a couple of months, and you want to withdraw them from Exeedme (also read: How can you withdraw prize winnings from Exeedme?). How many Bitcoin do you get?
In our hypothesize, the cryptocurrency market enters into a bearish trend, so the value of 1 BTC is 30 thousand USD now. Your balance on Exeedme is pegged to the US Dollar. For this reason, 6 million EXEs are still worthing 60 thousand USD, and when you’re going to make the withdraw, you’ll get 2 Bitcoin.
From this example, you can understand the importance of the automatic conversion in EXEs when you deposit cryptocurrency on the platform or withdraw your prize winnings from it.
EXEs vs. XEDs
What are the differences between EXE and XED? What are their use cases?
The only way to bet on matches is using EXEs. You can use EXEs only on the Exeedme platform.
You can also pay with EXEs when you want to buy something from the Exeedme marketplace (for example, if you’re going to buy an Exeedme Tracksuit).
You can’t transfer EXEs outside the Exeedme environment.
XED is an ERC20 token that can be bought on centralized exchanges like Gate.io or decentralized exchanges like Uniswap and Pancakeswap.
You can keep XEDs on centralized exchanges or wallets like MetaMask and Trust Wallet.
XED is a volatile cryptocurrency, and its price is affected by demand-supply economics.
Keeping XEDs on a wallet like MetaMask allows you to earn in different ways:
- you can become a liquidity provider on Uniswap, Pancakeswap, Beefy and get rewarded
- you can try to win the Exeedme lottery (not always there is an active lottery)
- you can stake XED to earn more XED on the Exeedme platform (when new staking pools will be launch, the first ones have been filled)
- you can become one of the first game miners and earn simply by playing video games (can apply here: https://beta.exeedme.com/game-mining-register)
- you can stake XED to drive and govern the future of the Exeedme platform (this featured isn’t released yet)
The bottom line
EXEs and XEDs are two Exeedme currencies that have nothing in common.
EXE is a stable currency that could be used only on the platform. When deposit or withdraw cryptocurrency on the Exeedme platform, EXEs are automatically converted. You don’t have any risk of holding EXE because its value is pegged to the US Dollar.
XED is a cryptocurrency, and its price is affected by demand-supply economics. Holding XED, you have some risks, but you can also earn by unlocking some key features like providing liquidity and staking.