Watermelon (Xigua)— IOST’s Uniswap + MarkerDAO is Here! 400,000 IOST Airdrop Awaits! 🍉

IOST
IOST
Oct 27 · 10 min read
Image for post
Image for post

Disclaimer: All IOST DApps are developed by third-party developers. The information provided here does not constitute any investment advice, all content provided here is intended for educational only. IOST bears no responsibility or liability for any loss which players may experience. Please contact the DApp team directly for any questions.

After a month of hardwork and preparation, Watermelon a.k.a Xigua will start liquidity mining on October 27th, 2020 at 8PM (UTC+8).

Let’s take a look at the key details and highlights of Watermelon below so that you better understand what Watermelon offers and able to make a more informed investment decision.

What is Watermelon? 🍉 🍉 🍉

  • XG is the platform token with a total supply of 4,000,000 tokens, from which 90% will be available for farming (mining)
  • XUSD is a stable coin, which is generated through the collateralization of IOST on a 2.5 IOST : 1 XUSD ratio.

Watermelon is currently under final public testing and will be launched soon.

Website: https://xigua.ist

Screenshots:

Image for post
Image for post

Watermelon Contract- Review and audit from the IOST technical team

In addition, Watermelon has been under public testing for a week, and thanks to the help of community members, many bugs have already been fixed.

Why Watermelon? Key Highlights & Benefits

Image for post
Image for post

1) Silky smooth experience & Zero transaction fees

The second half of the DeFi match has just begun. We believe that in the next 6 months, more DeFi projects will emerge on the IOST mainnet bringing more high-quality off-chain assets.

2) Interest-free minting of stable coins

After you pay off the loan, you can choose to wait for the 3 days freezing period to get back the staked IOST for free or to withdraw immediately for a small fee (about 0.5%).

3) Wealth management with stable coins

In addition, while staking XUSD, users are also participating in liquidity mining and can earn platform tokens XG.

4) Liquidity Mining

XUSD Pool, with an allocation of 1 point

  • Coin Voyage Diamond ZS token / XUSD Pool, with an allocation of 1 point. ZD is the token used in the popular IOST blockchain game Coin Voyage
  • TPT / XUSD Pool, with an allocation of 2 points. TPT is the token used in the popular wallet app TokenPocket
  • PPT / XUSD Pool, with an allocation of 2 points. PPT is a Yield Farming project on the IOST mainnet
  • IOST / XUSD Pool, with an allocation of 4 points. The $IOST. No need to introduce
  • Liebi VOST / XUSD Pool, with an allocation of 4 points. VOST is the token used in the Liebi ecosystem
  • XG / XUSD Pool, with an allocation of 25 points. Xigua’s platform token. It will be launched 3 days later than the rest of the pools to help investors reduce the risks

5) Repurchase and Burning of XG

6) Potential cooperation with major exchanges

How to participate in Watermelon (Xigua)?

1) Users with low-risk preferences may participate in stable coin based wealth management.

  • Buy IOST from your favorite exchange
  • Transfer them to your IOST wallet
  • Use IOST to get XUSD in Xigua
  • Stake XUSD in [Wealth management] and enjoy high rewards plus additional XG mining

2) Users with high-risk preferences have more options and may participate in liquidity mining in other pools.

Stake XUSD with a pair of your choice (Usually we would go for one with high APY)

Watermelon Detailed Guideline- Farming Tutorial

  • 1 point: Xigua.ist stablecoin XUSD single deposit pool, which requires XUSD (the pool also obtains XUSD as the passive income)
  • 1 point:Coin Voyage Diamond ZS token / XUSD Pool, with an allocation of 1 point. ZD is the token used in the popular IOST blockchain game Coin Voyage
  • 2 points:TPT / XUSD Pool, with an allocation of 2 points. TPT is the token used in the popular wallet app TokenPocket
  • 2 points:PPT / XUSD Pool, with an allocation of 2 points. PPT is a Yield Farming project on the IOST mainnet
  • 4 points:IOST / XUSD Pool, with an allocation of 4 points. The $IOST. No need to introduce
  • 4 points:Liebi VOST / XUSD Pool, with an allocation of 4 points. VOST is the token used in the Liebi ecosystem
  • 25 points:XG / XUSD Pool, with an allocation of 25 points. Xigua’s platform token. It will be launched 3 days later ( It will open at 20:00 on October 30 Beijing time)than the rest of the pools to help investors reduce the risks

Description: The XG reward for the 7 mining pools is XUSD: ZS +XUSD: TPT+XUSD: PPT+XUSD: IOST+XUSD: VOST+XUSD: XG +XUSD= 1:1:2:4:4:25

On October 27 at 20:00 (UTC+8), Xigua.ist will start the liquidity farming. Besides the XG liquidity pool, the six first-batch farming pools will be officially started.

Xigua.ist 🍉 farming tutorial

0. Preparation

0.2) Account creation: take TokenPocket wallet as an example, to open IOST account through Token Pocket wallet, and to open IOST account requires a small amount of payment via WeChat or Paypal.

0.3) Deposit IOST: Please trade the IOST through Huobi/Binance or any trading platform that supports IOST, and transfer the token to the newly opened IOST mainnet account.

0.3) Get enough IGAS and IRAM: Since watermelon runs decentralized on the chain, the transactions require enough resources. Click [Resources] to deposit a small amount of IOST to get enough IGAS and IRAM.

0.4) Enter xigua.ist: Use the wallet that supports IOST, take TP wallet as an example, click [find] at the bottom to enter DApp interface, and search https://app.xigua.ist/ at the top

Image for post
Image for post

1. For Low risk & stable return

1.1) Deposit some IOST (e.g. 10,000 IOST) in the XUSD function

1.2) Lend some XUSD in the XUSD function (the loanable amount is about 40% of the IOST/USD price)

1.3) In Vaults function, find XUSD pool and click Management to open the following interface

Image for post
Image for post

1.4) Select the maximum and then click Stake

1.5) Mining will start automatically after 8 pm Beijing time on October 27.

1.6) You will earn XG and XUSD at the same time from this pool

1.7) As XUSD is lent with over collateral IOST, when IOST price slide by 40%, there will be a risk that you might not able to get your collateral asset back. Please keep an eye on the current price of IOST. refund the XUSD loan or stake more IOST if the market change.

2. For High risk and high yield: liquidity mining

  • Note 1 :If you want to take some risks to get more XG tokens, we suggest you learn about the theory of AMM based DEX (e.g. Uniswap), and understand what is “impermanent loss”.
  • Note 2: Although XUSD is a stable coin, the price is still affected by the supply, and may fluctuate between 0.8 and 1.2 USD. We suggest that you do not buy XUSD from the market, but stake IOST to get it yourself. Otherwise, you may lose money if XUSD drops.
  • Note 3: The XG-XUSD trading pair will start at 20:00 on October 30, Beijing time, and the farming times of this pool will be 25 times. You can reserve some XG in advance, but be careful of the high price fluctuation.
Image for post
Image for post
  • PC — iWallet
  • How to use iWallet:

Refer to this tutorial

1. Make sure your iWallet have login your IOST account, open the Xigua website 🍉 URL: https://xigua.ist/

2. Farming steps: same as above

Watermelon Launch Event- 400,000 IOST airdrop reward awaits!

Image for post
Image for post

Join Watermelon Community!

We wish you success in mining. As a last reminder: Liquidity mining is a high-risk investment. Please join and participate after you read the whitepaper and fully understand it. Losses may occur! Please do due diligence and invest at your own risk.

…………………………………………………………………….

IOST- A Home to Build Your Ideal DeFi dApps!

Image for post
Image for post

Decentralized finance, or in short DeFi, is a notion that the traditional financial system can be replicated on a decentralized, open-source, resilient environment, seamlessly operating without a middle man. Compared with other projects, DeFi has a lower threshold, relatively transparent investment environment, and considerable interest rates, which drive its rising popularity in the crypto market.

For DeFi dApps to satisfactorily compete with traditional applications, the underlying network must be fast, meeting the objectives and expectations of the dApp developers. In the mid of competition, IOST — an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability (PoB) consensus algorithm has what it takes to build a vibrant ecosystem by offering developer-friendly features and environments.

As one of the world’s leading public blockchain platform, IOST’s original PoB consensus mechanism can ensure better scalability and faster speed on the basis of decentralization. At present, IOST mainnet has shown a peak TPS of up to 8000. IOST offers developer-friendly features that improve product development efficiency. No congestion and no high gas fees as seen in Ethereum, the reason many developers choose to launch DeFi projects on IOST. A zero transaction fee also guarantees users the convenience and accessibility of using DeFi applications on the IOST chain.

By inking symbiotic deals with strategic partners and promising on-chain projects such as PowerDeFi, otbTRADE, ProDeFi from all over the world, IOST will gradually cement its position, even supplement activities of competing platforms for the better good of the space.

With the establishment of the Noah Oracle One-Million Dollar Fund and the additional Six-Million DeFi Fund, IOST gears up to unlock the potentials of more DeFi projects on its vibrant network.

If you want DeFi, join IOST.

IOST

The Internet of Services Foundation Official Medium…

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store