The history of the death of the most bullish fund in the history of CXC: the rebate is as high as 10, and it is now down 85%

Text: Ratchet

Source: A blockchain

In July 2019, a blockchain project called CXC was born.

"A small step for CXC, a big step for human civilization" "Subvert capitalism and enter the chain merchant civilization", the project's slogan is very arrogant.

It is an out-of-pocket fund project: a level 10 pull-head mechanism, which once reached an annualized return of 6000%. As a result, it once gained popularity and was called an "epic money disk."

After more than half a year, CXC collapsed under the severe crackdown of the currency circle.

Not only CXC, but the currency circle capital disks that have emerged in 2019 are also coming to an end with the demise of CXC.

01 "Epic Money Disk"

Speaking of CXC, which was very popular last year, Bai Yongnian, who calls himself "old leeks in the currency circle", still has fresh memories. "It's called an 'epic money disk.'"

The name of the epic money disk comes from CXC's distinctive promotional video. Their pictures are full of science fiction, the background music is exciting, and the copywriting is very inspiring and can be described as well-made.

In a promotional video entitled "From Capitalism to Chain Merchant Civilization", CXC stated that it will use blockchain technology to subvert capitalism and let humans enter the "chain merchant civilization." "A small step in CXC is a big step in human civilization."

With such a big fanfare, what does CXC do?

CXC went online in July 2019, and is called "CAPITAL X CELL Public Blockchain", which is the "cell capital public chain". The white paper shows that the project was developed anonymously by a geek group of fintech experts from multiple countries.

CXC claims that it can achieve a million-level TPS, which is sufficient to support global-level commercialized system applications, and can achieve cross-chain asset recharge, extraction, and even support third parties to issue assets freely on the CXC public chain.

"After more than 1,000 days and nights of development, it consists of 800,000 lines of low-level code," the CXC white paper wrote.

However, the so-called 800,000 lines of code may be meaningless. The blockchain project automatic evaluation platform Bvaluate data mining shows that CXC has copied a lot of other project codes, such as Bitcoin, Ethereum, EOS, Libra, etc., in order to enrich its own code volume.

The CXC white paper did not introduce any technical details.

A self-proclaimed technologically advanced blockchain project is avoiding its technical details. What exactly is written in its white paper?

On the first page of this 55-page white paper, there is a strong slogan of MLM: "The chain business philosophy of sustainable operation, let the assets endlessly fission."

CXC White Paper Home

The Bvaluate mining tool shows that most of the content in the CXC white paper is promoting CXC's low investment and high return, and there is very little technical innovation. In addition, the CXC model makes it difficult for the outside world to determine the spread of its chips based on the information on the chain, and does not rule out the possibility of the project party controlling the disk. "

This is a fake blockchain project under the banner of blockchain.

In addition, the copy of the CXC white paper is mysterious:

"CXC is the civilization tinder of the discrete universe, and it is the Prometheus that spread the fire. It can fight the brutal law of increasing the entropy of the universe, and it can make the civilization move towards a permanent order.

"CXC is the origin and ultimate choice of all future chain merchants. It is a beacon, origin, standard, and intelligent parent. Join CXC and experience the shocking experience of changing from a single cell to a human."

This exaggerated style sets the tone for CXC's propaganda. At the beginning of the launch, CXC even released the "Open Letter to Global Citizens", inviting the world to witness the historical moment of the birth of CXC.

"In the currency circle, CXC did show the limelight." Bai Yongnian recalled. Beginning in July 2019, CXC has held several thousand-person conferences in Thailand, Singapore and other places, and invited many big names in the currency and circle circles to build momentum.

CXC Thailand Pattaya Summit

In order to highlight the internationalization, from white papers to various promotional materials, CXC almost provides multiple languages, including Chinese, English, Japanese, Korean, and Russian.

"Everyone knows that CXC is a fund disk. But the announcement and marketing of this project are very powerful and show great sincerity. Many people value this and invest in CXC." Bai Yongnian said.

Non-small data shows that in October 2019, the daily trading volume of CXC once jumped into the top ten ranks of the digital currency list.

However, those seemingly well-produced propaganda materials are just fine.

Many of CXC's promotional videos are spliced ​​and edited from movies, game promotional videos and even real estate advertising videos. CXC added these materials with dubbing and background music to package it into its own project promotional video.

In addition, CXC's large amount of foreign language promotional materials also have a strong taste of machine turning, making it impossible to read.

02 MLM Mode

Although CXC packages itself into the next generation of public chains, it is still difficult to hide the nature of MLM.

"When CXC first came out, a lot of people in the currency circle joked that this project wrote the word CX (MLM) in the name, which was really naked." Bai Yongnian said.

In the deposit mode, CXC borrowed from the hot resonance coin VDS at the time. Investors can transfer Bitcoin to the "resonance pool" to participate in "collision" to obtain CXC.

In the resonance mode, the exchange ratio between Bitcoin and CXC is not fixed. The earlier you invest, the higher the exchange ratio.

There is no doubt that in this mode, all players become participants in drumming and flower passing.

Like most funds, CXC also has a static and dynamic dual income model. Investors holding more CXC, or pulling more heads for CXC, will increase the "computing power" and get more returns.

CXC's static income is called "coin holding power", which can be obtained by holding coins. Its income ratio will be dynamically adjusted with CXC market circulation and other indicators.

"In the early days, the annualized income of this part of CXC was more than 6000%. Later, more people played CXC, and the income also decreased, but the monthly interest rate could still be about 20%." Bai Yongnian said.

To join the CXC, new players must fill in the invitation code of the old player and consume 10 CXC to purchase the unique personal number "CID" in the CXC system to obtain admission.

It is interesting that 5 of the 10 CXCs paid by the newcomer will be directly transferred to the inviter; the other 4.5 CXC will be transferred to the other 9 above the inviter, that is, 0.5CXC per person; the last 0.5 CXC will be used as "Public chain maintenance fee", submitted to the project party.

This means that CXC's rebate level is as high as 10. This is a naked MLM fund.

For this model, CXC also gave a very confusing copy: "If I invite 10 CIDs per person at each of the 10 levels below the tower, when the 10th level is reached, more than 12.3 billion people will contribute the invitation income for me. The total population of the planet. "

"This is a very typical MLM saying, but in the currency circle, this kind of saying is still rare." Said a senior player in the money plate.

In the MLM mode, CXC has almost achieved the ultimate. "CXC's design is the most complicated of all the funds in the currency circle." CXC player Li Lei said, "especially its 'double peak mining' mode is very subtle."

In terms of dynamic income, each CXC player will get two exclusive invitation codes, corresponding to two different promotion channels-"Bingfeng" and "Qingfeng". Bingfeng's hashrate can be obtained through Bingfeng Invitation Code's invitation to go offline; so is Qingfeng.

The CXC trader has set up a "left-slide" mode for "double peak mining". Its calculation method is very esoteric and complicated, and many players simply cannot figure out how much their promotion calculation power is.

The introduction of the double-peak mining mechanism in the CXC promotional materials

Li Lei said that the promotion system can be simplified and understood as follows: "The Bingfeng channel focuses on the number of promotion, as many people can push; the Qingfeng channel focuses on the quality of the promotion, and the invited downline should invest more money.

The double peak computing power of CXC players depends on the minimum of Bingfeng and Qingfeng. This means that if CXC players want to make more money, they must not only pull more people, but also urge them to invest more.

The computing power of a CXC investor, the double peak computing power occupies a larger proportion

In order for the downline to understand this model, CXC's go online requires a lot of time to explain, so the relationship between the two sides has become closer. Therefore, CXC is very popular in many coin circle communities.

03 perish

In Bai Yongnian's opinion, CXC, which will be launched in the second half of 2019, has become the master of the currency circle. "It's the ultimate MLM model in the currency circle."

But extreme, it also means downhill. Since then, CXC has begun to decline, and the same is true for the currency circle.

In the severe crackdown of the currency circle since the second half of 2019, everyone on the exchange is in danger and is busy clearing the relationship with MLM coins.

They began to delist MLM and fund currency in the platform, CXC, VDS and other model currency, which became the existence of everyone in the currency circle.

Public information shows that a number of exchanges, including CEO, BHEX, and BTNEX, have taken CXC off the shelves.

In November 2019, the CEO Exchange announced that CXC will be delisted

Since November 2019, CXC has continued to fall, and Bai Yongnian has also left the market.

"The CXC trader has given up on maintaining the price of the currency and started to make money on new projects," he said.

As early as October 2019, CXC launched a new project "Consensus Planet" with the token name CPC. "What CPC does, no one knows, only knowing that CXC can be used to subscribe for shares." Bai Yongnian said.

"A MLM coin issued an air coin." Investors expressed emotion in the community.

CPC also rose briefly in the early days of its launch. But soon, it also came out of the same trend as the CXC-slipping from its highest point to a slump. Today, CPC prices have fallen 96.6% from their peak.

In December, CXC launched a new project, “PHOTON Photon Chain Chip,” which packaged the ICO model that had long been abandoned by the currency circle into a “PTO” for soup and medicine, allowing CXC players to subscribe with CXC.

These so-called PTO projects are standard "three-no-products": no white papers, no team information, no project planning. Many projects have only one sentence introduction, and even the official website URL is fake.

Today, the CXC price has fallen from a high of $ 5.2 in October 2019 to $ 0.7, a drop of up to 85%. "CXC is cold." Bai Yongnian sighed.

CXC currency price trend

"In the face of the money plate, the leeks in the currency circle were not cut away, but were uprooted." Some players in the currency circle expressed emotion.

Some people believe that the demise of CXC heralds the end of the era of currency funds.

Now, the new batch of funds under the banner of the concept of the blockchain no longer issue coins, no longer accept digital currency deposits, and no longer pay attention to the crowd of the currency circle, but have started a more sinking and secretive business.

They extend their tentacles to the lower levels of the public, copying and upgrading the gameplay of the currency circle.

The contest between supervision and the fund will continue.

* Respondents in the text are pseudonyms.