Intro
Once some intrepid early holders started to explore X7m105, it quickly became apparent that this one was at the very least different and interesting. In crypto tales of mystery often lead to nowhere but the poorhouse. In this case, a highly detailed, innovative, well planned and well executed DeFi ecosystem began to emerge.
The deployer
Prior to X7m105 launching, the deployer wallet's last movements were registered in the middle of 2019. The last time the wallet was “active” was in mid-2018.
The deployer wallet is linked to a multitude of other wallets that have a history of interaction with well established OG crypto projects.
Most importantly this web of wallets were linked to large volumes of Ethereum holdings and transactions. And then they went silent… until the launch of X7m105.
The original X7m105 deployment
The name
So far speculative interest in a web of old, well funded wallets. We've heard all this before and in itself it doesn't mean much. But it piqued the community's interest and led them to explore the name.
X7
Could X7 refer to a super-massive blackhole 4.6 million times the mass of our sun, with a shape that evolves and changes over time?
Representation of the X7 black hole binary system
M105
Messier 105, could refer to an elliptical galaxy in the Leo constellation. Star formation is taking place within this galaxy and another blackhole resides at its heart.
M105 as viewed by the HST
The interaction of a shape shifting blackhole and an evolving constellation. Interesting and perhaps somewhat obscure, but the X7 protocol was just emerging. Slowly but surely details became clearer and early pioneer investors gained a better understanding of the depth of the project.
The birth of X7 Protocol
Around 1 week after launch the X7m105 deployer wallet released another contract — the X7 Protocol. Again the circumstances were mysterious as the contract was not verified.
The community was now hooked and worked together to decompile the code. They identified that the contract uses Keccak256 for hashing (also used by Monero as it is deemed to be safer from attacks).
In addition, it was apparent that there was an exceptionally large amount of code, and not only was it long, but also completely custom coded. A trait that is seen across the entire ecosystem. This thing was being built from scratch.
Perhaps most interestingly the Uniswap router was hard-coded into the contract, the first suggestions at what may lay at the heart of this ecosystem.
A protocol is a foundational layer of code that tells something how to function. It's the program that forms the software basis of any given network. It is a set of rules that allow entities to communicate and transmit information.
At the heart of this protocol was the most well known DEX hinting at the potential for a brand new DeFi ecosystem.
The X7 Logo, before the reveal (community made)
The ecosystem grows with X7DAO
A few days later a community member identified the launch of a new token bearing the X7 name: X7DAO. This one was from a different deployer. The token shared the same tax structure as X7m105 but was it just an opportunist looking to benefit from the successful launch of X7 Protocol, or was it something more?
What was interesting about X7DAO is how the 6% tax is distributed. X7m105 split the 6% tax in two, half into the developer wallet and half into the marketing wallet. X7DAO sent half to the X7m105 marketing wallet, whilst the other half was used to purchase X7m105, creating LP and then burning those LP tokens. An apparent direct link, growth and interaction across this new ecosystem.
The level of attention to detail also did not go unnoticed by the community. The X7DAO contract address starts with X7 and ends with da0. The wallet that receives half of the tax to buy X7m105 and create LP also starts with X7 and ends with 105. Soon there would be more from these wallets.
The team starts to communicate
1 day after the stealth launch of X7DAO, the connected wallet that burned X7m105 LP (0x7…..105) delivered the first ever on-chain message to the community:
The first message sent by the developers
Of course many fake tokens launched, trying to attach themselves to the X7 name, even sending taxes to the X7m105 in an attempt to appear legitimate. But a strong community was forged through the intense early days and to this date have been able to identify and discount pretenders.
We now have the foundations' in part 2 of the story the team gets a lot more active, the ecosystem starts to grow, the utility is revealed and X7 starts to gain some significant attention! Join us on Telegram.