5 Things I LOVE About XEND!
Today, I will write about why I’m accumulate and keep XEND tokens, by Xend Finance, why I believe in the growth of the token and I will hold them until the next bullrun.
Xend finance is a kind of global DeFi Сrypto-bank. True they already have so many products in the kit, that it looks more like a multifunctional harvester!
Xend Finance launched on DAO Maker at the end of February 2021, and immediately attracted a lot of attention thanks to its extremely hardworking team, amazing roadmap, awesome tokenomics and of course backers, including Binance Labs, Google Launchpad, AU21 and many other companies!
I have 5 reasons to at least pay attention to this wonderful company and its no less wonderful team! So let’s go:
1) XEND have a very small total supply with very low capitalisation. Just over 200 million tokens have been generated. Moreover, the circulation supply is only 79 million (the rest is future long-term rewards for Staking, Ecosystem, Marketing etc). So, for today Mcap is only 2,6 million dollars! In addition, the price corrected along with the entire market, to historical lows, and has been in a clear accumulation zone for almost a year now. Considering the price chart and the increased activity of the team, I see a definite further way out of the accumulation range upwards.
2) From the very launchpad on DAO Maker, Xend finance has made money for everyone early adopters. After all, even from the price of the public sale, with a 100% unlock on TGE, the cost of the token soared by 40X! But even now, the price of the token is kept at the level of a few X, relative to the seed and pre-seed price (which cannot be said about most other projects on the market). Thanks to the competent work of the team, constantly high activity and staking at 100% APY, the cost of the token can be kept in a wide range, going through an exemplary accumulation stage, without ATL updates. Over the past two years, all tokens from the sale rounds have been unlocked. Now only diamond hands remain.
3) The income generated in each quarter will be used to buy back $XEND tokens from the market and burn them further! According to the plan, 35.83% of the entire supply will be bought out and irretrievably burned! By the way, it was today first batch of tokens was burned - 0.5% (1,000,000) of the total supply of 200,000,000 $XEND. This means that the total supply of $XEND tokens has been reduced to 199,000,000 today, and this buyback and burn process will be repeated every quarter until 128,340,000 $XEND remain! In short, we have a deflationary token that resembles the legendary BNB in many details 😉
4) An incredible range of products! Xend Finance mobile app, SwitchWallet and XendBridge products that revolutionize peer-to-peer payments and global transactions, xVault and xAuto (already available on Polygon and BSC), 100% APR staking, very own Launchpad and the largest blockchain Hackathon in Africa’s history! And just a week ago, MADWallet appears — the first DeFi crypto wallet with support for the metaverse! Just a head spin!
5) Fantastically cool team! I have never met such hardworking, conscientious and capable guys! Not only does such a list of first-class products need to be invented and created, they still succeed also support ordinary users! I turned to them several times for help in the process of participating in the Wicrypt Launchpad and in the process of passing the MadWallet test — I always received an instant, intelligible answer! TOP service 10/10! Mike Novogratzs at the Xend Hackathon in 2021 just touched on the topic of Africa’s hard work and ability, I completely agree with him. There is incredible energy and a desire to do more in each of their products!
This was an introductory article that aims to introduce you to the main incentives to explore the Xend Finance project more closely. After all, technology is technology, but we are all interested in the potential for multiplication of funds. In the next article, we will study the MADWallet application and try to participate in the airdrop event. So get in touch!
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P.P.S. Separately, I want to indicate that I’m not a member of the team and in no way do I call for any investment. All the above is just my personal observation and reasoning.