XCM Dust Converter
by Kamil S
Creating More Value for You
Week 13 of 15 Weeks of Summer is here, bringing you more programs and utility around XCM! Today we are excited to introduce the XCM Dust Converter. The new feature allows you to convert to XCM any small amounts of crypto that would otherwise be left unused in your wallet. Read on to learn how you can take advantage of this new functionality.
What Is the Coinmetro XCM Dust Converter?
In the cryptocurrency world, the term “dust” refers to any small amount of coins or tokens that you might have left in your wallet as remains from various transactions. The amount is generally so small that it can’t be traded or exchanged because it is smaller than the minimum amount of a transaction. Also, it would not be enough to even pay for any transaction fees. If you’re an active trader swapping a lot of coins and tokens, you probably have some “dust” for each asset in your wallet just sitting there. The amount is usually forgotten or ignored.
With the XCM Dust Converter, you can convert all your incremental crypto “dust” amounts to our XCM token! On the Coinmetro exchange you can now:
- Clean up your portfolio by converting any amount or all of your small balances to XCM.
- Use the “Convert Small Balances” button found in the Wallets page. You will then see a dialog listing all the crypto assets you hold with small available balances.
- You can select any single or multiple assets and have the option to “select all” for ease of use.
- All conversions will be visible in the transaction history.
Why Is the XCM Dust Converter Important?
Currently, there are only a few crypto exchanges offering dust conversion to their users. For most crypto traders, those small amounts get trapped and you can’t use or convert them into something else. These amounts might be small for every individual, but imagine what they are building up to for the exchanges. You can understand why most of the platforms do not offer this feature.
On the Coinmetro exchange, you can take advantage of this function and convert your unused amount of crypto into something that brings you more value. Little by little, all the “dust” you convert to XCM becomes an investment in itself. The amounts might seem small with every instance, but in the long term, this will circulate more value back into your wallet.
XCM Growth Roadmap
Another week, another new feature bringing more value and utility to XCM holders. Throughout this summer, our XCM token has matured nicely with plenty of utility programs and tokenomics built around it. Some weeks ago, on Week 10 of 15 Weeks of Summer campaign we launched the XCM Token Page, alongside a roadmap for Coinmetro’s native token. The XCM Page is the home of our most important product – the place where you can learn and find out how XCM is growing and becoming a more capable financial instrument.
This summer has brought several innovations and more utility to our beloved asset:
- XCM Margin Fees Reduced to 0 – We have activated negative fees on XCM long positions! This means while the price is moving sideways, you will not be penalized with margin fees.
- Record-Breaking 500,000 XCM Burn Event – A few weeks ago we had a major XCM burn event worth approximately $300,000. The 500k XCM burn is an ongoing commitment from our side to provide a deflationary character to XCM, by decreasing the total supply and increasing the buy pressure.
- XCM on Margin – All Coinmetro users are now able to use XCM as collateral on Margin! The new update allows you to use our Margin product even when just holding XCM.
- XCM Staking Limit Increase – Back in June we raised the XCM Staking maximum from 500,000 to 1,000,000. With this, one of the most lucrative passive income plans in the industry became even better.
It’s important to know that all of the above-mentioned actions are not singular events, but stages of a bigger development plan we have in mind. The XCM Roadmap has many more features scheduled for Q3, Q4 and beyond. XCM fuels the exchange of the future where innovation never stops. Even with the current bear market, we are always working to build more features and utility around our products, as well as list assets that can make a positive impact for you. How are you navigating this period?
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