Following the previous announcement about possible chain expansion, the team at XFai has been closely monitoring the entire blockchain space to select the most appropriate candidates. Today, we are excited to announce that XFai will be expanding to Binance Smart Chain. The new expansion will also come with community rewards in the form of airdrop to the current and continuing participants of the XFai Liquidity Generation Event (LGE) and farming with XFai.
Supporting Emerging Projects on BSC
The current success of the XFai LGE and the ability for the Potentializer to protect the early life cycle of a newly emerging token has caught the attention of industry experts. During the past week, XFai has been approached by projects in the incubation phase that wish to utilize XFai’s unique set of technology to support their launches. The requests have motivated XFai to further develop into a set of toolings that new projects can equip to protect their early life cycle from bot attacks, pump and dumps, and other notorious phenomena that have become an unfortunate norm in the current market.
XFai believes that its new proposition into early market dynamics and the putting of higher importance on liquidity rather than unrealizable price peaks can positively impact the new wave of projects with promising fundamentals and revolutionary technology. XFai plans to launch a similar structure as it did on the Ethereum blockchain, and optimize few parts of the structure to best fit the Binance Smart Chain ecosystem.
Community Rewards for Current Farmers
To celebrate the expansion of XFai into Binance Smart Chain, XFai has organized a community rewards program to show appreciation to those who continue to support XFai. The community rewards program will be in a form of airdrop of BSC-based XFIT tokens. The rewards will be distributed in proportion to the following factors:
- Amount of LP held
- Duration of LGE participation
- Dripped XFIT reward held (not sold)
At the end of stage 1 of the XFai LGE — coming to a completion soon — a snapshot will be taken to take an accurate measure of the above consideration factors. We will in the near future release an update to the webapp whereby you will see how much you will get on BSC. Following the consideration criteria, users will be able to claim airdrops at the time of XFai’s complete expansion into Binance Smart Chain. The community rewards program is expected to further increase the profits of the liquidity farmers involved in the stage 1 of the Xfai LGE. This rewards longterm farmers disproportionally.
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.