Welcome to ^ᵂᴼᴿᴹᴴᴼᴸᴱ, a series where we deep dive into all that’s possible when on Wormhole. Or, more specifically, when projects raise their xChain functionality to the power of Wormhole.
^ᵂᴼᴿᴹᴴᴼᴸᴱ is pronounced as Raise to the power of Wormhole.
Today, we’re focusing on Nexa.
What is Nexa?
Nexa is the first decentralized, cross-chain sale platform, built to launch native, chain-agnostic assets. Powered by Wormhole, Nexa allows for xChain Token Sales (XTS) supported by xMint technology, a first-of-its-kind innovation. Until now, token launches were limited to a single blockchain, but with xMint, projects are able to sell tokens and launch on multiple chains at the same time. Tokens become chain-agnostic assets.
xMint: How xChain Token Sales work
Before Nexa, token sales have been conducted on a single blockchain in a trustless way, or on multiple chains in a centralized way. xMint is different — the technology offers a trustless, cross-chain mechanism for token sales. Built on Wormhole, Nexa enables users to contribute assets on any supported chain and issue a token that can be bridged to all chains for them to claim after the sale has been concluded.
From any chain
Nexa will allow users from any chain to connect their wallets and participate in an xChain Token Sale. This is very different from today, where traditional token sales are hosted on just one blockchain, with typically just one wallet type being supported, leaving out a plethora of potential participants. Finally, users can connect any wallet from their favorite chain — like Phantom, Metamask, WalletConnect and many more. This means users don’t need to maintain multiple wallets but can conveniently participate from their native environment — eg, Solana, Ethereum, and any other of the supported chains on the Wormhole network.
Any whitelisted asset
Projects can choose and whitelist any asset from any supported chain to allow users to participate in the xChain token sale — i.e., USDC from Ethereum or BUSD from BSC.
Issuing new project tokens cross-chain
After the sale has been concluded, projects can issue their new tokens on any chain supported by the Wormhole network.
People contribute directly to the token contract and receive the tokens directly from the issuing project once the sale is completed. No centralized entity ever holds custody of user funds or project tokens.
More from Nexa
Stay up to date and follow the first-ever xChain Token Sales on Nexa:
The Wormhole Ecosystem
Have you checked out our Ecosystem page yet? It’s where you can find the hottest projects building on Wormhole! If you’re a builder, submit your project, and let’s create the xChain future together!
Join the ever-growing Wormhole community
If you have questions, need support, or just want to connect, join the Wormhole community, and keep up to date with our up-and-coming announcements. We’re always happy to hear feedback. Join our discord, and drop us a comment!