Dank (The Internet Computer Decentralized Bank) & the Cycles Token (XTC)

hi there everyone! :wave:

Sharing over our work this week’s from the Fleek team :zap: We’ve just released Dank, the Internet Computer Decentralized Bank, where we’re building a collection of Open Internet Services.

The first service in Dank is Cycles Token (XTC), a token that wraps cycles to allow anyone to hold and trade cycles with just a Principal ID (and across them too), and use them for development, or funding canisters in DFX (setting it as your default wallet), or calling the XTC Token Canister’s methods. All of this with just a Principal ID, and no need to deploy a canister (cycles wallet).

Can find all the deets in the intro & details post , our Docs and the Cycles Token (XTC) repo open for review.

The key here is reducing the amount of unique identifiers needed to do all those cool things (develop, trade, etc… with cycles) to a Principal ID, to enable better composability on user/developer experiences that need to surface them, removing the friction of having to deal/authenticate multiple unique identifiers, and providing easy to use tools to enable cycle use cases (trading, development).

You might’ve gotten a glimpse of it in today’s release of the Cycles Faucet! You can pick to get your cycles to redeem to a cycles wallet, or as a Cycles Tokens (XTC) balance tied to a Principal ID.

Any doubts, ideas, or cool builds using XTC, share them our way! We’re also on Discord :call_me_hand:


good i love this project