Ray Network wallet

What is Ray Network (XRAY)?

Holding XRAY means holding a Cardano native token, and that fact shapes most of what is practical about it. Ray Network builds tooling for the Cardano ecosystem, and XRAY is the token attached to that work.

Cardano does not need a smart contract to move a token. Assets other than ADA live directly on the ledger, carried inside the same UTXOs that hold ADA, so sending XRAY is an ordinary ledger transaction rather than a contract call. Two consequences follow for a holder. First, every output that carries a token must also carry a small amount of ADA locked with it, so a wallet holding XRAY always has a little ADA tied up beside it; that ADA is not lost, it is released when the UTXO is spent. Second, fees are paid in ADA and nothing else, so a balance of XRAY on its own cannot be moved.

Identity on Cardano is the policy ID plus the asset name, not the ticker. Tickers are not reserved, and anyone can mint a token that displays as XRAY, so the policy behind the entry in your wallet is what tells you which asset you actually hold.

Tangem handles this pairing in one place: the ADA that pays the fee and the XRAY itself sit in the same wallet, and a transaction is authorised by holding the card to the phone, with the private key never leaving the card's chip. Keeping the token and the coin that moves it under one signature is simply less to juggle.

Supported networks in Tangem (1): Cardano.