Convert

Converting $XNJ to $ELEM and vice versa

xNinja introduces an innovative exchange feature; a dynamic arena designed to enhance earnings and adaptability of users in the evolving GameFi 2.0 environment. Serving as a crucial nexus, users can seamlessly transition between xNinja tokens ($XNJ as a governance token) and their in-game token ($ELEM), aligning with their goals and strategies.

xNinja.Tech offers a simple conversion system for converting between $XNJ and $ELEM assets.

$XNJ -> $ELEM conversion

To start converting, go to your Profile and click on the Convert tab. Here, you can seamlessly switch between converting from $XNJ to $ELEM or from $ELEM to $XNJ by pressing the 🔃 button. ($ELEM -> $XNJ conversion will be available soon on xNinja dapp)

$ELEM -> $XNJ conversion

Every day, a designated supply of $XNJ is set aside to facilitate the conversion of $ELEM to $XNJ

In order to establish a sustainable economy for $XNJ, we plan to carefully control all processes involved in bringing new $XNJ into circulation, ensuring they are distributed as rewards for user participation. Given that the daily amount of $XNJ available for conversion is predetermined, while demand from users fluctuates, we intend to introduce a queuing system for those wishing to exchange their $ELEM for $XNJ.

FCFS Mechanism for Converting from $ELEM to $XNJ

Reference to our proposal: https://hub.injective.network/proposal/352 & Injective forum discussion: https://gov.injective.network/discussion/15464-xninjatech-adjust-queue-system-and-fcfs-mechanism-for-rewards-conversion

A user is limited to initiating a conversion for 150 $ELEM at a time. Once their withdrawal request has been processed, they are eligible to submit another conversion request. Users in the process of making a conversion request are placed in a queue. The length of the queue determines the waiting period before receiving the $ELEM tokens, adhering to the First-Come, First-Served (FCFS) principle commonly used.

This feature helps reduce $XNJ inflation that is too fast at the beginning, encouraging users to reinvest $ELEM into the ecosystem to be able to have higher level Ninjas, which is a great advantage in later game modes.