What Is Codatta (XNY)? 5 Key Facts About AI Data's Future

Key Takeaways

What is Codatta (XNY)? Codatta is a decentralized, multi-chain AI knowledge protocol designed to connect data creators with data users, transforming knowledge into verifiable and valuable digital assets.
How It Works: The protocol uses a hybrid storage model, combining on-chain proofs with encrypted off-chain data to ensure both transparency and privacy for all participants.
Wealth Creation: Codatta aims to create a new model for data monetization, allowing contributors to earn ongoing royalties from the AI and DeSci projects that utilize their data.
The XNY Token: XNY is the native utility token of the Codatta ecosystem, created to power various functions and incentivize participation within the network.
Future Potential: As with any cryptocurrency, investing in XNY carries significant risks. It is crucial to conduct thorough research before making any financial decisions.

Introduction

In our digital age, data has become one of the world's most valuable resources. However, the individuals who create this data rarely share in its profits. Codatta is an ambitious project aiming to fix this imbalance by building a decentralized and open protocol for AI knowledge. This system enables developers and individuals to contribute verified information and receive fair, ongoing compensation for their efforts. This guide offers an in-depth explanation of Codatta and its native token, XNY. To discover more innovative crypto projects, explore the Phemex Academy.

Summary Box (Quick Facts)

Ticker Symbol: XNY
Chain: Solana, BNB Chain, Ethereum
Contract Address (Solana): FGzWeCKusF8x4n275uFvRju1igSBLsLLhsUHQk6qGpyb
Circulating Supply: Approximately 8.2 billion
Max Supply: 10 billion
Primary Use Case: AI Knowledge Protocol
Availability on Phemex: Not available (as of this writing)

What Is Codatta?

So, what is Codatta? Explained simply, Codatta is an open, decentralized, multi-chain protocol that combines blockchain-based data infrastructure with a network of human contributors and specialized AI agents. The project’s main goal is to empower contributors and knowledge backers to earn continuous royalties from AI innovations that are powered by datasets they collectively build and own. This approach transforms individual knowledge into durable digital assets and creates a potential source of passive income.

In essence, Codatta is building a "knowledge layer" for the future of AI, where data is not just consumed but also owned and monetized by its creators, solving the problem of data exploitation by large, centralized platforms.

How Many XNY Coins Are There?

The tokenomics of Codatta (XNY) are designed with a clear structure to support the long-term health and growth of its ecosystem. The total supply is fixed at 10 billion XNY tokens. A fixed supply means no new tokens can be created, which suggests a non-inflationary or deflationary model over time as tokens may be lost or locked out of circulation.

The distribution of the 10 billion XNY tokens is allocated across four key areas:

Community (48%): The largest portion is reserved for the community to encourage broad participation and network growth. These funds are designated for node incentives, ecosystem development grants, airdrops to early adopters, and enabling participation in Initial DEX Offerings (IDOs).
Foundation (21.5%): This allocation is managed by the Codatta Foundation to fund core operations. Its purposes include protocol development, paying advisor incentives, providing liquidity for trading pairs on exchanges, and maintaining reserves for future listings.
Team (18%): These tokens are allocated to the core contributors and founding team as incentives for their ongoing work and commitment to the project's success.
Investors (12.5%): This portion is set aside for early investors, covering their rights and allocations for providing the initial capital to launch and develop the project.

What Does XNY Do?

The Codatta (XNY) use case is central to the functionality of its ecosystem. The token's primary purpose is to incentivize contributors to provide high-quality, verified data to the network. The platform connects data creators with those who need it, such as AI and Decentralized Science (DeSci) projects, turning raw information into valuable, assetized data.

A royalty model is built into the protocol to enable revenue sharing with the original data creators. This creates a symbiotic system where the interests of AI developers and human contributors are aligned, as both can benefit from the value generated by the data assets.

Codatta (XNY) vs. Bitcoin (BTC)

While both are cryptocurrencies, XNY and Bitcoin serve fundamentally different purposes and are built on different technologies. The table below highlights their key differences.

Feature	Codatta (XNY)	Bitcoin (BTC)
Primary Use Case	A specialized utility token for a decentralized AI knowledge and data marketplace.	A decentralized digital currency designed as a peer-to-peer electronic cash system and store of value.
Technology	A multi-chain protocol operating on existing blockchains like Ethereum, BNB Chain, and Solana.	A foundational, standalone blockchain with its own unique proof-of-work consensus mechanism.
Speed & Fees	Transaction speeds and costs are variable, depending on the host blockchain being used (e.g., Solana, Ethereum).	Transactions are generally slower and can have higher fees, which fluctuate based on network congestion.
Ecosystem Focus	Focused on creating a data economy for the growing AI and Decentralized Science (DeSci) sectors.	Focused on maintaining a secure, decentralized monetary network for payments and value storage.

The Technology Behind XNY

Codatta’s technical foundation is what makes it unique. It is a decentralized data protocol engineered to provide a robust data infrastructure for developers. The protocol is built on a permissionless data contributor network that prioritizes high data quality, which is essential for training reliable machine learning and AI models.

It employs a hybrid storage model, using on-chain proofs for transparency and verification while keeping the actual data encrypted and stored off-chain for privacy. Access is governed by smart contracts, ensuring data is used securely and flexibly according to predefined rules.

Team & Origins

Codatta was founded in 2023 by a core team that includes co-founders Yi Zhang (CEO), Paul Pang (CTO), and Kevin Wang (CPO). The project has successfully attracted support from several notable venture capital firms, including OKX Ventures, Mask Network, and GoPlus Security. In a key milestone, Codatta raised $2.5 million in a seed funding round in June 2024.

Key News & Events

Here are some of the most important developments and news about Codatta (XNY):

June 2024: Codatta announced it had raised $2.5 million in a seed funding round led by OKX Ventures.
June 2025: The project launched a pre-TGE (Token Generation Event) campaign, giving early supporters a chance to acquire XNY tokens before they become widely tradable.
June 2025: A 12-week "Codatta Booster Event" was started, offering participants an opportunity to earn a share of the XNY token supply by completing various tasks.

Is XNY a Good Investment?

Evaluating whether XNY is a good investment depends entirely on your personal risk tolerance and financial goals. The Codatta project has a solid foundation, a clear vision, and backing from credible investors. However, the Codatta (XNY) price has been volatile since its launch, which is typical for new and emerging cryptocurrency projects.

The XNY investment potential is closely tied to the Codatta platform's ability to attract a critical mass of both data contributors and data users. Its strategic focus on the rapidly growing fields of AI and DeSci is a significant advantage.

Despite its potential, investing in a new token like XNY comes with inherent risks, including market volatility and regulatory uncertainty. It is crucial to conduct your own research to understand these risks fully. To learn how to make more informed trading decisions, explore the educational resources available at Phemex Academy. For those looking ahead, you can visit Phemex to see how to be ready to trade Codatta (XNY) if it is listed in the future.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Crypto trading involves significant risks; only invest what you can afford to lose.

FAQs

What problem does Codatta solve?
Codatta tackles the problem of data exploitation by centralized entities. It creates a decentralized marketplace where data creators can truly own and monetize their knowledge and contributions.

How can I get XNY tokens?
Since XNY is not yet listed on major exchanges like Phemex, acquiring it can be challenging. Potential avenues include over-the-counter (OTC) trades or participating in official project campaigns. To learn how to buy Codatta (XNY) if it becomes available, keep an eye on Phemex announcements.

What is the future outlook for Codatta?
Codatta's future success hinges on its ability to build a thriving and active ecosystem of data contributors and users. Its strategic focus on the high-growth sectors of AI and Decentralized Science (DeSci) could position it for significant growth.