What are xTokens?
xTokens are ERC20 wrapper tokens for staking, governance and liquidity strategies. xToken offers simple set-and-forget tokens that provide simplified exposure to the returns from participating in staking protocols.
Token address: 0x7f3edcdd180dbe4819bd98fee8929b5cedb3adeb
Uniswap pool: 0x2FBa756C64d4F9dBB17F1B3A1AfB5F05af7f18C0
Max supply: 1 billion
We’ve distributed 2% of supply (20 million XTK) retroactively to past users and liquidity providers. Each eligible address was assigned a cumulative point total based on participation in the network: 1 point each for an investment in an xAsset, whether by direct mint on xToken or swap on a liquidity pool. And 1 point each for contributing to our recommended liquidity pool.
For example, a user who invested in xKNCa, xINCHb and xSNXa and contributed liquidity to the xINCHb 1Inch pool would have been allocated 4 units of distribution.
We then divided the allocated pool by the number of total distribution units and registered the total distribution to each address in our claims contract. We finalized our script at block 11857556
(Feb. 14 10:30 PM UTC). **Check for your distribution at **xToken Cafe. Rewards will remain available for 1 year, at which point they will be returned to the community pool.
Instead of buying on the market, we highly recommend that community members who want to own XTK earn it via our Community Vesting program. We will be heavily incentivizing users to contribute to select liquidity pools. Our initial program will run for 10 weeks and will distribute 8% of total XTK supply. While the initial incentives period is 10 weeks, we intend to extend most or all of these programs. Read more about Community Vesting on the dedicated blog post. Community Vesting starts tomorrow at 8 pm EST!
Our token distribution is as follows:
While we’re still in the early stages of developing our token model, we’re excited to begin soliciting feedback from the xToken community on the path forward. Please join the conversation in our Discord.
Near term, we have several more xAssets slated to launch in Q1, with xToken Lending on track for Q2. Stay tuned for more updates on development plans and tokenomics.
We’re excited to announce the xToken Community Vesting program. We’ve set aside 50% of the XTK supply for various initiatives designed to engage the community.
We’ll have another blog post about ways the community can earn XTK via content creation and other creative contributions. However, this post will walk specifically through the liquidity incentives and how they work.
Our incentives contracts are a slight fork of PieDao’s liquidity mining contracts which are a slight fork of Synthetix’s Staking Rewards and Reward Escrow contracts.
First, the basics:
We’ve introduced a few small wrinkles in order to attract long-term-minded liquidity providers who believe in and are aligned with the project. We would be happy to forgo a few dollars of TVL if it means our LPs are in it for the long term.
Of course, users can just re-stake their LP tokens after claiming and exiting. It’s encouraged. However, we are hoping that a little bit of added staking friction and a short escrow period will deter farm-and-dumpers from participating.
Lastly, please note that xAssets are fairly new and highly risky.** Please review the available information on Medium and xToken Market before making any investment decisions**.
All 8 of our pools will begin a 10-week incentive program on February 25th. We fully intend to extend most or all of these programs beyond 10 weeks.
Please note that adding liquidity can be very expensive in this high gas environment. Please consider whether your rewards will be sufficient to cover gas costs.
Note that Balancer requires users to deploy a DSProxy contract before contributing liquidity. This can be an expensive transaction, so if you’ve LP’d on Balancer before, we encourage you to use the same address.
Finally, we highly recommend that users who mint xAssets directly on xToken Market use the base token to mint (e.g., SNX for xSNXa or AAVE for xAAVEa) rather than ETH. While our contracts accept ETH for minting, the gas cost will be much higher than minting with the base token.
Please migrate_ your legacy xKNCa if you have yet to do so. If required, you’ll be prompted to migrate on xToken Market._
Please migrate_ your legacy xKNCb if you have yet to do so. If required, you’ll be prompted to migrate on xToken Market._
xToken is excited to share some more details on the XTK Launch Challenge, which we previewed last week. There has been a lot going on in the xToken community. XTK, xToken’s native token, hit mainnet. We also kicked off the XTK Community Vesting program, which will ultimately distribute a meaningful share of the network to the xToken community.
The challenge is designed to drive awareness of xToken products, onboard more members into the xToken community, and educate potential xToken users.
The XTK Launch Challenge is a competition focused on growing the XTK ecosystem. The challenge will start on March 1st and run for two weeks. There will be two tracks for the xToken Launch Challenge — Creative Competition and Dev Bounties.
Creators are encouraged to create content about xToken, and are rewarded prizes for creating the best content. Submissions can include videos, art, graphic design, infographics, articles, music, thoughtful tweets, memes, and more.
Hint: DeFi already has enough socks. Try something else!
The winner of each of the five categories will receive 10,000 XTK. Additionally, we’ll be naming five wild card winners each to receive 2,000 XTK. If there are more than ten high quality submissions, we may just add more to the prize pool!
Prefer writing SQL to creating memes? The Bounty category is for you — there’s plenty of technical work to do that will serve the xToken community!
Reach out to us in the Discord if you need more clarity or guidance on some element of your project.
We are very open to adding more to this prize pool for developers with ace ideas. Pitch us in the Discord!
Tweet it out! And then post the link in the #launch-challenge channel with a short explainer of what you built.
XTK has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy …
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence.
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since XTK is an altcoin we need to transfer our coins to an exchange that XTK can be traded. Below is a list of exchanges that offers to trade XTK in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase XTK from the exchange.
Exchange: Uniswap (V2) and 1inch Exchange
Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once XTK gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
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Find more information XTK
☞ Website ☞ Explorer ☞ Explorer 2 ☞ Source Code ☞ Social Channel ☞ Social Channel 2 ☞ Message Board ☞ Coinmarketcap
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