X token: Not even leaving 3% for itself, letting the price return to the market

In the past few years of the crypto market, many tokens have seen their prices rise significantly from seed rounds to public offerings and then to listings. By the time retail investors can enter, the early costs are often just a fraction of the public price. After listing, if the price weakens, it is referred to as normal fluctuation; the price difference is explained as a risk premium.

This logic has been in operation for so long that people have forgotten to ask: Can the initial price of a token be directly determined by the market?

On October 17, 2025, at 18:00 (UTC+8), the platform token X of xBrokers will be launched. There is no private placement price, no public offering price, and no preset price. The moment trading begins, the first transaction is at the market price.

2.1 **One Hundred Million Tokens, All Returning to the Community: ** 97% Mining + 3% Burning

The total issuance of X was originally 210 million tokens, but before the launch, the team made a decision: to burn the originally planned 6.3 million IEO shares.

The final supply is locked at 203.7 million tokens, with the distribution method written in the smart contract, 100% produced through community mining. Users stake Hong Kong stocks to obtain computing power, releasing 72,000 X daily, distributed according to the proportion of computing power. Halving occurs once every four years until all are mined.

There are no team shares, no advisor tokens, no reserved strategic investor allocations, and even the originally intended 3% for ecological construction is directly burned. The circulating tokens at launch all come from the mining output of early staking users.

On the first day of launch, there will be no chips with costs close to zero in the market. All circulating X is either mined by users through staking Hong Kong stocks or purchased in the secondary market. The cost structure is transparent, with no information asymmetry.

How Computing Power is Calculated and Distributed

When users stake Hong Kong stocks, the value of the staked assets, lock-up period, and computing power obtained are all recorded on-chain. The computing power pool releases 72,000 X daily, and anyone can check their computing power share and expected earnings.

The key to this distribution mechanism is: the source of computing power is verifiable, the output speed is constant, and the distribution rules are public.

Users can obtain more computing power by staking more stocks, but they must stake real Hong Kong stocks; computing power cannot be generated out of thin air; all staking is based on real Hong Kong stock assets and must go through a corresponding lock-up period to ensure that output corresponds to the scale of assets. This design makes the mining process more verifiable and stabilizes and clarifies token distribution.

More importantly, the 30% reserve mechanism underpins the value of the token.

**Value Anchor: ** 30% Reserve Buyback Mechanism

This is the most easily overlooked but crucial design in the X token economic model.

xBrokers requires that the Hong Kong companies intending to go public provide a reserve fund of no less than 30% of their market value for the buyback of X in the secondary market, which can be synchronized with the user staking period.

For example, if a Hong Kong company has a market value of $10 million, they need to provide a reserve of $3 million. This fund enters the buyback pool to continuously repurchase X tokens in the market. The repurchased tokens are either burned or locked, forming a deflationary mechanism.

As more Hong Kong companies join the platform, the reserve pool grows larger, and the buyback power of X strengthens.

This means that the price of X will detach from pure market speculation and will have real assets as a value anchor. Each circulating X corresponds to two layers of asset support: the Hong Kong stocks staked by users and the reserve funds contributed by listed companies.

Typical pure mining tokens lack this layer of asset support, with prices driven entirely by expectations. X establishes a balance between mining output and value recovery through the closed loop of "Hong Kong stock staking, reserve buyback, and token deflation."

Operation of a Positive Cycle

Users stake to borrow stocks from brokers in exchange for mining computing power, and brokers use these stocks to provide market liquidity, benefiting from more active trading in the company's stock price. This will attract more users to participate in staking. At the same time, as more Hong Kong companies join the platform, the reserve pool continues to expand, enhancing the buyback strength of X and increasing consensus among holders.

The two cycles influence each other. The more Hong Kong companies that join, the larger the reserve pool, and the more stable the value foundation of X. The more users stake, the better the liquidity of these companies' stocks, which will attract new companies to join.

Users gain triple benefits in this cycle: dividends and price increases from the stocks themselves, mining output of X tokens, and governance rights and fee discounts. The listed companies gain real liquidity improvements.

Differences from Other RWA Tokens

RWA tokens in the market can be roughly divided into three categories. Asset-mapped tokens anchor real assets (real estate, gold), providing stable value but lacking growth potential. Platform governance tokens are used for governance and fee discounts, with value dependent on platform trading volume. Mining incentive tokens produce output through staking but often lack asset support.

X combines three models: 100% community-distributed mining output, asset support from listed companies' 30% reserve funds, and platform governance with fee discounts and dividend rights. Users stake Hong Kong stocks to mine X, which can be traded in the secondary market or continue to be staked for platform earnings. The reserve mechanism ensures that the token has continuous buyback pressure.

October 17, the First Day of Price Discovery

At 17:30 (UTC+8) before the launch, 6.3 million originally planned IEO tokens will be burned. The burn address and transaction hash will be publicly disclosed for verification by everyone.

At 18:00 (UTC+8), the X/JU trading pair will officially open. There are no whitelists, no front-running, and no OTC dark markets.

Everyone sees the trading pair open at the same time, and everyone decides at the same time whether to buy, sell, or observe. The first bidder defines the market floor price of X. The first completed order writes down the initial price of X.

This price has not been discussed in VC boardrooms, has not gone through lawyer valuation reports, and has not been packaged in roadshow PPTs. It comes from the most basic market behavior: someone thinks it is worth this price, and someone is willing to pay this price, leading to a transaction.

In traditional finance, this is called price discovery, allowing the market to find a reasonable price on its own. Early Bitcoin was priced this way. Later, this path was replaced by private placements and public offerings.

On October 17, 2025, the X token brings this matter back.

The destruction of IEO shares, 100% community output, and dual support of assets and buybacks,

return the pricing power to the market from the very beginning.

Fairness no longer needs to be proven.