XFai August Update : A glimpse of the DEX

Good day to all our community members for patiently waiting for the update. We had much to discuss and decide but rest assured, we are going to make this “epic.”

As we all know, XFai’s vision is to allow holders of small-cap tokens to earn returns on their tokens when providing liquidity and therefore increase their position in those projects by using our DEX and holding XFIT. With XFai, holders of small-cap tokens provide liquidity and sustainability to initiatives and projects that will improve the crypto space we develop on!

That is why we need to focus on partners that are emerging DeFi projects that are not YET big in terms of market cap but have the potential to grow with DeFi friendly community members.

Now without further delay, here are this week’s key updates.

Partnerships and Collaborations

As you all know, Seeder is a DeFi Farming Protocol that currently has over 7M USD locked for farming. With stable TVL and the need to manage their liquidity in DEX tradings, we have secured a potential community that can trade 7M USD. We are now currently prioritizing tasks, action items, and co-marketing strategies for both parties.

  • When is the next partner being announced?

As mentioned before, we are partnering with projects that are DeFi friendly and have the need to use a DEX. We have already secured a partnership with a promising DeFi platform that is going to give us much more opportunities in the future. We cannot disclose more but they are backed by multiple institutions and showing growth in their platform. We will announce the details as soon as possible.

Marketing Update

XFIT Burning Update

  • Architecturally speaking, XFIT serves as the bridge token for all trades between all DEXFai pools. Or simply put, every pool has a token pair only with XFIT. Whenever a trade is performed, the given amount of XFIT tokens that flow out of a given pool gets essentially sent to a slippage optimization contract.
  • XFIT, therefore, is not really burned from the system, but for all practical matters, it is burned from within the DEX system.
  • This process has two significant effects on XFai’s DEX:
  • The value of XFIT goes up with every single swap.
  • Swaps between pools will have a minimized slippage due to the slippage optimization contract that assists with every DEX swap.

That’s it for this week. We will upload several contents this week and we hope to see you on our FIRST internal AMA.

About XFai

Reach XFai

XFai develops tooling for the DeFi space – we graph the DeFi space to build game-changing products. Starting with the DLO: the DEX Liquidity Oracle