XL1 Price

XL1 is the utility token of XYO Layer One, the first scalable data blockchain that brings verifiable information on-chain. It serves multiple purposes within the ecosystem: 1. Pays gas and transaction fees, with a portion burned by activity 2. Powers smart contracts, decentralized applications, and validator rewards 3. Enables bridging and wrapping to other chains 4. Incentivizes participation through staking and step-based rewards The XL1 ecosystem uses a dual-token model: XL1 runs the chain, while XYO powers the contributor network, including rewards, staking, governance, and security. As of 2026-02-02, XL1 has a total supply of 38B XL1 tokens, with 5.7B XL1 in circulation. The project launched on August 29, 2025, and aims to provide trusted data for AI, real-world assets, geospatial intelligence, and location-based gaming through its decentralized oracle network of over 10 million nodes. XL1 leverages Proof of Location and Proof of Origin technologies to ensure data integrity and verifiability. The blockchain is designed to handle high-volume data transactions efficiently, using step hashing and bound witness trees to compress and verify large data flows.

XL1 was created in September 2025. It is the utility token of XYO Layer One, which launched as the first scalable data blockchain designed to bring verifiable information on-chain. XL1 serves multiple purposes within the XYO ecosystem, including paying gas and transaction fees, powering smart contracts and dApps, enabling cross-chain bridging, and incentivizing network participation through staking and rewards. The XL1 token officially went live on September 15, 2025, marking the beginning of XYO's Layer One blockchain operations.

The founders of XL1 are Markus Levin and his team. They launched XL1 in 2021 as the utility token for XYO Layer One, the first scalable data blockchain designed to bring verifiable real-world information on-chain. Markus Levin serves as a co-founder of XYO, the company behind XL1. While specific details about other team members are not publicly disclosed, the project was developed by a team of blockchain and data experts under Levin's leadership. XL1 was created to power transactions, smart contracts, and validator rewards on the XYO Layer One network, with the goal of enabling trusted data for AI, real-world assets, geospatial intelligence, and location-based applications.

XL1 operates as the utility token for the XYO Layer One blockchain, serving multiple key functions: 1. Gas and transaction fees: Users pay XL1 for on-chain activities, with a portion of fees burned to manage supply. 2. Smart contract and dApp operations: XL1 powers decentralized applications and smart contracts on the network. 3. Validator rewards: Node operators receive XL1 as incentives for validating transactions and securing the network. 4. Cross-chain functionality: XL1 enables bridging and wrapping to interact with other blockchain ecosystems. 5. Participation incentives: Users can stake XL1 to earn rewards and participate in a step-based reward system. The total supply of XL1 is 38B XL1, with 5.7B XL1 currently in circulation. The token works alongside XYO in a dual-token ecosystem, where XL1 handles chain operations while XYO supports the contributor network, including rewards, governance, and security features. XL1's blockchain leverages Proof of Location and Proof of Origin technologies to provide verified real-world data, making it particularly useful for AI, real-world assets, geospatial intelligence, and location-based gaming applications.

XL1 operates on a Layer 1 blockchain architecture designed specifically for handling high-volume data and bringing verifiable real-world information on-chain. Key technical features include: 1. Dual-token system: XL1 powers the blockchain operations, while XYO supports the contributor network. 2. Proof of Origin and Proof of Location: Enables devices to attest to data proximity and lineage, ensuring data integrity. 3. Step hashing and bound witness trees: Helps compress and verify large data flows efficiently. 4. Parallelized processing: Supports high throughput across multiple applications while maintaining a single shared ledger. 5. Smart contract and dApp support: Enables development of decentralized applications on the network. 6. Cross-chain compatibility: Supports bridging and wrapping for interoperability with other blockchains. 7. Staking and validator rewards: Incentivizes network participation and security. 8. Fee burning mechanism: A portion of transaction fees are burned to manage token supply. This architecture is optimized for AI, DePIN (Decentralized Physical Infrastructure Networks), real-world assets, geospatial intelligence, and location-based applications, leveraging XYO's extensive oracle network of over 10 million nodes.

The future and roadmap of XL1 looks promising. As the utility token of XYO Layer One, XL1 plays a crucial role in the ecosystem. The roadmap focuses on enhancing network functionality and expanding use cases. Key milestones include: 1. Wallet releases to improve user accessibility 2. Bridging capabilities to enable cross-chain interactions 3. Staking mechanisms to incentivize network participation 4. Expanded SDK support for developers XL1 implements a unique burn mechanism, where a portion of transaction fees are burned to manage inflation. This, combined with the base fee burns and potential slashing, may offset issuance over time, potentially leading to deflationary pressure. The dual-token model, with XL1 running the chain and XYO powering the contributor network, provides a solid foundation for future growth. The integration of Proof of Location and Proof of Origin technologies sets XL1 apart, enabling trusted data delivery for AI, real-world assets, geospatial intelligence, and location-based gaming. Long-term, XL1 aims to become a leading scalable data blockchain, bringing verifiable information on-chain. With its focus on data integrity and real-world applications, XL1 is well-positioned to capitalize on the growing demand for trusted oracles and decentralized physical infrastructure networks (DePIN).