Hello everyone ! I wanted to share some quick news with you about the liquidity pool as it has been a subject of discussion this past week. First of all, I think it's important to acknowledge that the swap feature within the X-Bank works flawlessly. Denis has made an amazing job with the update of the X-bank and the development of the Swap, and I think we should really give him kudos for that, as I haven't seen a lot of encouraging message around.
Secondly, concerning the pool. We are in discussion with a DEX to create a special sponsored pool with them. We don't know yet what will be the quote currency of the pool yet, but we are discussing to get some liquidity farming on the LP token of the pool.
Additionally, the X-Cash Foundation will sponsor up to 400M XCASH of reward from this pool for 3 months, with a return of 100% APY. It means that by providing liquidity to this pool, you will get :
- A share of the trading fees based on your share of the pool.
- A reward from the LP farming from the DEX, payed most likely in the DEX native token.
- An additional reward in XCASH of 100% APY for 3 months.
We will come back soon with a written article explaining the reward system and how to apply to the liquidity program.
Why only 100% APY and not 1000% like new projects?
X-Cash is already established and traded outside of DEXs. Projects that propose insane APY returns are usually quite new, and provide high return in exchange of quick traction to enable cashing out some tokens. 100% APY for 3 months is actually an amazing return for this project.
Can I just provide WXCASH in the pool?
No, you will need to put WXCASH and the matching equivalent amount in the quote currency to provide liquidity. If none of this makes sense, we will provide additional information and documentation to help you understand about liquidity farming.
How do I apply?
We will provide a set of instructions to get you started in the article! Hope everyone will have a good day!
We will come back to you quickly