Why would I stake my $XDEFI tokens?
. $XDEFI rewards
AVAILABLE LATER :
. Discount on fees (not available yet)
Each NFT (bXDEFI) you receive for staking comes with an amount of credits embedded within it.
In the future these credits can be used in exchange for discounts on swap fees, once these fees are implemented in XDEFI Wallet.
. Other rewards (not available yet)
Credits tied to stake NFTs (bXDEFIs) can also be exchanged for custom wallet skins, voting rights in our governance system (granted to both $XDEFI and bXDEFI holders), and access to a growing range of premium features and future community events.
How many Ethereum TXs do I have to make to stake my $XDEFI tokens?
. 1 to Approve the $XDEFI token itself, 1 to Lock your tokens (stake).
What is the cost of these Ethereum TXs ?
. It depends on the Ethereum network congestion.
(Approval costs about 75,000 gas, and a lock costs about 400,000 gas)
How do I Stake my tokens?
How do I estimate my APR?
7,200,000 $XDEFI will be distributed to stakers over a 6 month period.
When will I be rewarded?
. The first tranche of rewards has been distributed on Monday 7 March at 2pm UTC, and subsequent tranches are distributed every 6 hours thereafter, over the next 6 months.
When will I be able to claim my rewards?
. You can claim your rewards at any time after the lock-in period you initially chose (15 / 30 / 45 / 60 or 75 days) but you don’t have to and you can let your staking rewards accumulate.
How will I claim my rewards?
Will my tokens unstaked after the lock-up period?
. You aren’t forced to unstake after the lock-up period and you can still collect rewards.
. But if you want to lock the newly aquired XDEFI to compound your staking, then you need to restake
When can I get my initial $XDEFI tokens back?
. You will get back your initial $XDEFI tokens when claiming your rewards once the lockout period you chose is over.
What is a XDEFI Wallet NFT?
. A XDEFI Wallet NFT is a bXDEFI (b for badge).
. It’s the key to a locked position. This means that your bXDEFI represents your tokens/rewards/credits.
. If the position has already been unlocked (you already claimed your $XDEFI tokens + your staking rewards) then the bXDEFI no longer has access to any withdrawable $XDEFI. In other words, it no longer has access to a locked position. However, it is still linked to a credit balance, which, as mentioned above, can be exchanged for rebates and other perks.
How to get a bXEFI ?
. You automatically mint and receive a bXDEFI when you stake some $XDEFI tokens.
The bXDEFI you receive depends on the number of tokens you stake and on the lock duration you choose (15/30/45/60/75 days).
. Before buying a bXDEFI on OpenSea, click on ‘Properties’ from the webpage dedicated to the bXDEFI of your choice then verify if it has a locked position (Yes or No). If it does, there will also be a stat detailing how much $XDEFI it currently has access to. Keep in mind that OpenSea data may be outdated, so it is best to double check here via the “30. withdrawableOf” section, by searching the token id.
. You can get details about the bXDEFI by clicking on the Etherscan link of the Mint TX.
Where can I see my XDEFI NFT?
. Your bXDEFI will be visible after some minutes following the transaction in the Collectibles interface of your XDEFI Wallet
. You can also view it on OpenSea by clicking on the ‘View on Opensea’ button :
How many different bXDEFIs exist?
. There are 13 different bXDEFI types.
. Here is a bookmark created by VViLLi4M (XDEFI Wallet Community member and beta tester) :
Can I send / sell my bXDEFI(s)?
. You can send / sell your bXDEFI(s) however note that you will also send / sell the access to the position (your XDEFI tokens + your staking XDEFI rewards).
. Note that the feature to send/sell your bXDEFIs directly within the Wallet is not available yet.
Do my bXDEFI expire once I unstake my $XDEFI tokens?
. You will keep your bXDEFI even if you decide to unstake your $XDEFI tokens after the lock period.
What are the credits linked to my bXDEFI?
. Aside from granting access to a locked position (if any), an bXDEFI also has credits, based on how much XDEFI you had previously locked and for how long.
Credits = amount staked (how many $XDEFI tokens) * lock-up duration
. These credits also dictate the tier of the bXDEFI : the higher the credits, the higher the tier.
. Credits are spendable but do not expire if not spent.
. The tier of the bXDEFI is entirely dependent on the amount of credits it has. Spending credits may result in a new credit balance that is within range of a lower tier.
What if I stake several times, can I get several bXDEFIs and can I merge their credits (not available yet)?
. You will end up with several bXDEFIs if you may have locked $XDEFI more than once, or bought bXDEFIs from others, and may wish to consolidate them to make it easier to manage, and combine their points. You will be able to do this via the web interface (https://staking.xdefi.io/) once the feature will be available.
. When you merge bXDEFIs, you are effectively dumping all their credits into one; specifically, the first one you specify when merging. All other bXDEFIs that are part of the merge, except the first, are burned. So, all bXDEFIs that are part of the merge, except the first, cannot have access to locked positions.