Hey, everyone! I hope this week has been great for you. We’re going to keep it short and sweet today because we have a lot of updates for you.
As we all know, XFai focuses on making holders of small-cap tokens make profits on their tokens by providing liquidity and reducing slippage. We are here to lay another strong foundation on DeFi projects. With our DEX, projects can manage their project better and in return, XFIT holders get rewards for providing liquidity in the XFIT pool.
Without further delay, here are this week’s key updates.
- New DeFi Partnership
We are currently finalizing the details with this DeFi platform. It will provide us the exposure and scalability we need to have our DEX ready. To be more specific, it will open to exposure to different players of the DeFi space and also be part of something bigger. Being a global DeFi project, it is backed by one of the biggest VCs in the crypto space. They have launched their own platform and mobile app with over 2M in TVL. This will surely give us the quantum leap we need for our DEX in the initial phase.
- New Protocol Partnership
With the help of a precious community member, we are in discussion with a security protocol. As they are one of the first decentralized cyber security protocols utilizing trustless oracles, they will help us promote our DEX, introduce promising projects to use our DEX, and have a stronger community for more users to hop on to make DeFi more stable and stronger in growth.
- New Feature
Considering the popularity of NFTs we are considering NFT integration with the DEX. Details of the how and why will be discussed later but to be clear for now we are not issuing our own NFT series. We might utilize the mechanism but currently, this is in the whiteboard phase.
The team has been seriously deliberating for the past few weeks and is definitely something we will expand as we view this new feature will be another stepping stone that makes XFai’s DEX attractive to not only projects but also different key players in the space. For XFIT users, this will not only be exciting, but it will also be a part of your incentive on providing liquidity on our pools. We will keep the entire community updated.
XFai develops tooling for the DeFi space, graphing it to build game-changing products. The XFai DEX 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.