XFai is excited to announce that SpiderDAO has joined the XFai DLO Partnership Program. Through the mutually beneficial partnership, SpiderDAO is set to enjoy optimized DEX liquidity powered by the XFai DEX Liquidity Oracle (DLO), while those who hold SpiderDAO’s native token $SPDR will be eligible to participate in one-sided liquidity to fuel the DLO and earn increased APY. Meanwhile, $XFIT holders will be eligible to participate in SpiderDAO’s Liquidity as Utility (LAU) program to stake their $XFIT tokens for utility benefits such as advanced VPN.
SpiderDAO is a decentralized autonomous organization built to bring back online privacy to the end users via its blockchain solution. The unique, multi-layer structure of SpiderDAO that utilizes both on-chain and off-chain elements allow it to effectively battle the traditional shortcomings of DAOs such as plutocracy, dark DAOs, and exploitable governance. Currently, SpiderDAO offers the LAU program to the partnered token holders, offering an off-chain value addition to the token holders in the form of utilizable incentives within the VPN and online privacy space.
XFai DLO to Supercharge SpiderDAO
The XFai DLO, currently in full development, is set to revolutionize the way SpiderDAO stands in DEX, while offering the $SPDR token holders an equal opportunity to participate in the DeFi ecosystem as any big tokens such as Bitcoin or Ethereum would enjoy. $SPDR token holders can stake their tokens in the DLO, and participate in one-click liquidity farming in which the collected liquidity is optimized within a DEX along a synthetic curve. The optimized liquidity also frees it up from being trapped, while offering added incentives such as minimum slippage on trading. The DLO thus contributes to a positive, sustainable price discovery for the $SPDR token.
Participating liquidity farmers in the XFai DLO can also enjoy increased APY, dripped from the collected transaction fee from a DEX such as Uniswap. Since the other side of the liquidity in the form of stablecoins such as USDT or USDC is generated by XFai, $SPDR token holders are effectively rewarded the same or increased rewards of liquidity mining while not having to provide both sides of the liquidity. The DLO is $SPDR token holders’ chance at a broader participation in DeFi.
XFai to Ride the Wave with SpiderDAO
Given the unique nature of the DLO, XFai as a project is bound to generate revenue in the form of $SPDR tokens through benevolent arbitrage activities at no cost to SpiderDAO or the $SPDR token holders. This outcome sets XFai to establish a long-term relationship with SpiderDAO to ride the wave of $SPDR into price discovery, fueled by the DLO. $XFIT token holders may look forward to the success of SpiderDAO being directly reflected as the success of XFai.
The team at XFai extends its warmest welcome to SpiderDAO as the first member of the XFai DLO Partnership Program, and sends its sincerest gratitude for establishing $XFIT compatibility for the SpiderDAO LAU Program. We sincerely look forward to continuing a favorable, long-term cooperation and invite all $XFIT token holders to reap the benefits of the SpiderDAO LAU in the future.
XFai develops tooling for the DeFi space, graphing it to build game-changing products. The XFai DLO is set to invite mid and small-cap tokens to start earning APY on their token holdings, while the XFai LGE is set to become industry-first in providing a more efficient, transparent, and fair way for everyone to get involved at an early stage. The LGE for XFai’s native token, XFIT, was launched on 16th April 2021. We invite everyone to join the DeFi revolution, spearheaded by XFai.