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$XDEFI staking FAQ

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Why would I stake my $XDEFI tokens?

$XDEFI rewards
75% of fees generated from in-wallet actions (e.g. swaps and bridges within the wallet) are used to buy $XDEFI on the open market and those $XDEFI will be distributed to stakers.
. Our third-party market maker plans to purchase the $XDEFI :xdefiwallet: tokens using a 1 hour TWAP (time weighted average price) every 7-10 days.
. We are working on a dashboard to display swap volume, fees generated, and $XDEFI :xdefiwallet: tokens purchased.

The remaining 25% of all fees generated by XDEFI Swaps are used for the continued development and governance of XDEFI.

Further details on the fees charged by XDEFI Swaps are set out below
. The values mentioned below correspond to initial traded values
. If your transaction has multiple hops, XDEFI will ONLY charge a fee on the first hop

Swaps & bridging that begin with the THORChain DEX aggregator :

Swaps & bridging with a value < US$300 swaps = 0.3% XDEFI fee
Swaps & bridging with a value >= US$300 swaps = 0.3% XDEFI fee

Swaps & bridging that begin with other providers :

Swaps & bridging with a value < US$300  = no XDEFI fee
Swaps & bridging with a value >= US$300 = 0.5% XDEFI fee

Read our full article.

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 (Token Approval), 1 to Lock your tokens (stake).
. Do not refresh the webpage between the 2 TXs, or the 2nd TX could also be a TX to ‘Approve’ the token itself.

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)
. Ethereum live Gas price tool: https://etherscan.io/gastracker

How to Stake my tokens and what is the staking contract?

. Via this web interface: https://staking.xdefi.io
. Staking contract : 0x1dfd9029d89f87c8c63ed8ef2be1b5393b2348ef

How to estimate my APR?

. 7,200,000 $XDEFI will be distributed to stakers over a 6 month period.

. Your APR depends on the boost given by the lock period you chose (15 days (x1.2), 30 days (x1.4), 45 days (x1.6), 60 days (x1.8), 75 days (x2)) and on the total amount of tokens locked by other participants (current APRs are displayed on the staking page), it is a dynamic variable.

. Keep in mind that it will take 24 hours after staking your tokens for the APY to be displayed on the staking page

When will I be rewarded?

. The first tranche of rewards has been distributed on Monday, 7 March at 2 pm UTC, and subsequent tranches are distributed every 6 hours after that.

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 can let your staking rewards accumulate.
. Accruing of XDEFI rewards with the bonus multiplier (lock boost) persists after the lockup time expires. This is fine since the goal is to reward the initial commitment.

How will I claim my rewards?

. You will have to make an Ethereum TX via the web interface ( https://staking.xdefi.io ) to claim your rewards.

Will my tokens unstaked after the lock-up period?

. You aren’t forced to claim/unstake your tokens after the lock-up period and you can still collect rewards with the same boost.
. If you want to lock the newly acquired $XDEFI :xdefiwallet: tokens to compound your staking, then you need to relock :
. The percentage of tokens you decide to relock will open a new position.
. The remaining tokens will be claimed/sent to your Ethereum address.
. Relocking + claiming your tokens will require only 1 transaction.

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?

. An 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).
. You can also buy a bXDEFI on OpenSea ( https://opensea.io/collection/xdefi-badges).
. 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 don’t forget to click on the refresh button to refresh the metadata of the bXDEFI you are viewing. If you want to know the exact amount of tokens associated with the bXDEFI you are viewing, you can also visit the staking contract webpage : https://etherscan.io/address/0x1dfd9029d89f87c8c63ed8ef2be1b5393b2348ef , click on ‘Contract’ > ‘Read Contract’ > ’30. withdrawableOf’ > enter the Token ID > click on ‘Query’.
. 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), a 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 unlocked once the bXDEFI is no longer linked to any staking position.
. 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 can do this via the web interface. (https://staking.xdefi.io/xdefi-credits)
. 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.

 

 

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