The technical innovation at XFai starts with the basics, with a unique launch mechanism. In comparison to the traditional TGE (Token Generation Event), XFai’s launch will begin with an LGE (Liquidity Generation Event). During the LGE, participants will have a fairer chance to purchase the tokens early, stake them within the liquidity pool, and earn increased, sustained yield throughout the launching period, all in one step.
The Traditional Way before XFai LGE
The past trend of token offering mechanisms varied from ICO to IEO, and lately to IDO. Recently, anyone who participated in IDOs through various TGEs may have witnessed that IDOs often cause a gas war, with many often having to opt-in for a sky-high gas fee ranging anywhere from 300 gwei to above 500 gwei in some cases.
Many of these projects would then offer liquidity mining as the next step after their IDO to support sustainable token growth, and increase their token’s DEX liquidity. The liquidity mining (often called liquidity farming) would not be as popular as the IDO itself, due to the complexity behind it requiring as many as 4 different steps to successfully stake the tokens into the liquidity mining pool.
Both cases entail high gas fees for even failed transactions during the IDO rush, and not many token holders are seeing the benefit of participating in the liquidity mining as they are looking for short-term gains from a positive price shock, often followed by an unignorable red candle.
At XFai, we have invented a new take on token launches to solve all of these problems.
XFai LGE to Save Gas Fees for Thousands
The XFai LGE entails liquidity farming, in which the traditional four steps involved are combined into one step. This significantly reduces the gas fee, as users would have to pay the transaction fee for only a single, optimized transaction, rather than four separate transactions.
Moreover, XFai’s approach prevents users from having to pay the gas fee only to realize that the transaction has failed. This effectively saves the user base thousands of dollars as they would only be charged gas fees for successful transactions.
This is XFai’s proprietary technology at work, making DeFi participation easier and cheaper for millions of users who are looking for easy, low-risk investment opportunities.
Improved User Experience
Another aspect that we at XFai have brought into consideration is the lack of a smooth user experience involved with liquidity farming. Most often, users are left on their own to figure out how to participate in liquidity farming, authorize up to four transactions, pay high gas fees for each transaction, and hope that the set gas limit was high enough for the transaction to be successful.
With XFai, users will only have to submit a single transaction that has almost no possibility of failing. This way, the overall user experience would be significantly improved, bringing more users to participate in liquidity provision, ultimately supporting future token growth, fueled by the community.
The embedded anti-slippage mechanism also ensures that the users are fully aware of the slippage their transactions would cause while keeping this slippage to a minimum thus providing all participants with a favorable condition.
Join the Revolution
XFai is dedicated to opening the launch event to as many people as possible. The LGE allows for everyone to get involved, without having to be whitelisted, at an early stage. It is a fairer, more efficient, and less costly way of offering tokens to the public compared to the traditional mechanisms involved with TGE.
We sincerely believe that through the XFai LGE, more people will be able to enjoy the massive benefits that our current DeFi ecosystem has to offer. We invite everyone to join the DeFi revolution, spearheaded by XFai.