What is Xfinance
Xfinance is a DeFi platform whose goal is to build an aggregated liquidity pool, automatic market-making, leveraged trading platform, and other functional platforms.
Key Features of Xfinance
- Decentralization: Xfinance qualifies as a DeFi due to the decentralization functions it offers. Through the lending agreement on the Ethereum blockchain data transparency, it can offer these functions. Xfinance offers a decentralized wallet, among other features.
- Liquidity mining: Miners can run open-source software on their computers and use their scarce resources through this. A collective pool of participants works towards providing liquidity for the XFI token. They are paid XFI rewards, whether lender or depositor, according to transparent, algorithmically defined rules.
How Xfinance Works
Xfinance is based on decentralized lending protocols such as Compound, Aave, dYdX, cream finance, etc. DeFi lending protocol enables all users to earn interest in supplies of cryptocurrency and stablecoins .
Xfinance works to support multiple DeFi agreements that will automatically move positions between contracts to help depositors get the highest financial income. To simply put it, investors deposit their money to the Xfinance shared pool. After Xfinance receives the funds, it collectively allocates them the most lucrative yield firms available. The returns are distributed proportionally to the users accumulating to XFI token users when they make deposits.
XFI Presale Details
The total supply of all XFI tokens is currently 50,000, with the presale being 15,00XFI, which is equal to 30% of the XFI tokens available. The acceptable currency for the presale is Ethereum, with the minimum investment amount being 0.1 ETH and the maximum being 50 ETH. Each referral will earn the user 2.5% ETH. Each ETH will amount to 4.8387XFI tokens.
The presale bonuses are 10% for 0–500 ETH, 5% for 500–1000 ETH, 2.5% for 100–2000 ETH and lastly 0% for 2000–3000ETH. After the presale, tokens will be unlocked by 2.5% per hour and locked fully after 25 hours.
On reaching a soft cap (1000ETH), but getting the opposite for a hard cap (3000ETH), unsold XFI tokens will be distributed to the presale investors. Accordingly, the initial liquidity and price of Uniswap will change.
XFI Token distribution
29% of the team’s tokens are locked for ten months, with 10% unlocking each month. The ecosystem tokens at 21% will be locked in and used as liquidity mining reward token after launching of XFI staking functions. 5% of the tokens will be used for developments, airdrop, and listing marketing.
- It supports more cryptocurrencies than most DeFi
- They allow the use of more profitable pools, which makes it a bit risky on the centrally.
- Xfinance dynamically switches lending platforms for the highest yields.
- It has unique liquidity mining rewards awarded to both lenders and borrowers.
Benefits of Xfinance
Xfinance Mobile App
The Xfinance app will allow anyone with a smartphone and good internet connection to participate in the global DeFi market. The app is expected to improve interoperability between decentralized wallets and DeFi. It will also function to be beginner-friendly.
The app offers intuitive yield data curve features, a secure decentralized wallet, unlimited scalability, and an efficient DeFi aggregator.
Xfinance is expected to perform better than YFI as its tokens have more functionality. It is also expected to have a wider range of cryptocurrencies. Similar to Yearn.Finance, it might hit new price records due to added features and easier usability.
Generally, DeFi could be the next big thing as many crypto analysts previously reported. DeFi protocols offer a digitalized way to build financial products with worldwide distribution. Notable investors engage in DeFi to see its continued success such as Coinfund, 3Arrows, Pantera, and Multicoin Capital. Nonetheless, it is best to do research before engaging in DeFi. Many projects are still speculative, equipped with smart contracts, collateralization and volatility risks. Higher returns mean higher risk levels in DeFi.
Originally published at https://cryptoadventure.org on September 7, 2020.