FXF Staking Pool Is Now Live on MANTRA DAO!
We are incredibly happy to be welcoming FXF to our list of assets available for staking! We’re excited to be bringing even more utility to the FXF token with this integration of the token into our decentralized staking platform. As an organization, we resonate with FXF’s values of legitimacy and trust, and to their commitment to making crypto accessible to the mainstream population. We want to thank FXF for joining our ecosystem, and believe that great things lie ahead for both of our projects!
What is Finxflo?
Finxflo is the world’s first cryptocurrency exchange aggregator and DeFi protocol aggregator. It aggregates rates and prices from the world’s leading exchanges and protocol markets providing both small and large traders unparalleled liquidity, stability, best pricing, and instant market access.
FXF provides its users with access to multiple exchanges and DeFi protocols from just one wallet. Users are guaranteed the best price available through FXF’s smart order routing system which distributes trader’s orders across multiple exchanges simultaneously in order to achieve the optimum buy or sell price. Traders can also take advantage of a same-day withdrawal facility with zero fees.
Additional Details
FXF staking rewards are automatically compounded, meaning that you do not need to claim and restake the accrued rewards.
FXF tokens are required to be staked for 30 days minimum for rewards to be earned. While stakers are free to withdraw their FXF tokens at any time, rewards may not be fully claimed should they decide to withdraw early and run the risk of not being compensated with complete FXF rewards.
The FXF team has allocated 144,000 FXF tokens per month to support this pre-platform staking program and will be topping up the smart contract with this amount every month on or about the 10th of the month.
FXF token holders, who only intend to stake their tokes for less than one month, may not find this program appropriate for their investment objectives.
There is no limit to the number of FXF tokens that can be staked into this smart contract. However, APY percentages are variable as there is a fixed number of FXF token rewards set per block. The APY will evolve dynamically according to the number of tokens staked in the staking smart contract. To provide you with some expectations for potential rewards, FXF has developed the following chart.
The chart above provides the amount of FXF tokens staked in the MANTRA DAO staking smart contract on the horizontal axis and the expected staking rewards APY on the vertical axis.
Theoretically, if only 100,000 FXF tokens are staked during the initial contribution period from March 5 to March 10, those stakes would enjoy 1,752% APY staking rewards! However, since we expect there to be many more FXF tokens staked during this period, we have provided a range of expected staking rewards’ APY outcomes.
If only 500,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period is expected to be 350.4%.
If only 1,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 175.2%.
If only 2,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 87.6%.
If only 4,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 43.8%.
If only 6,000,000 FXF tokens are staked during the initial contribution period, the rewards APY at the start of the accrual period are expected to be 29.2%.
And so on.
The basic principle to take away here is that the more FXF tokens staked into the MANTRA DAO staking smart contract, the lower the rewards APY will be. Also, please keep in mind that the rewards APY in these estimations are not denominated in USD but rather in FXF tokens themselves. Should the FXF token increase or decrease in value, that would of course affect your real rewards APY rate denominated in fiat!
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focusing on Staking, Lending, and Governance. MANTRA DAO leverages the crowd’s wisdom to create a community-governed, transparent, and decentralized ecosystem for web 3.0. Building on Parity Substrate for the Polkadot ecosystem, MANTRA DAO gives financial control back to the people to store and grow wealth together.
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About Finxflo
Our mission is to create an industry-leading trading platform to facilitate multi-crypto exchange access and provide both retail and institutional investors with professional-grade tools and global best prices through a user-centric interface.
We believe in a cryptocurrency market built on the values of legitimacy and trust, fully accepted by, and accessible to, the mainstream population. We envisage a level playing field for all participants, with the best prices available to traders irrespective of their portfolio size and location, with market distortions and unfair trading practices eliminated.
Our proprietary smart ordering algorithm distributes orders across multiple exchanges and retrieves optimum buy or sell prices, reducing slippage from large orders.
Everyone on our platform gets access to our dark pool, allowing traders to swiftly move in and out of any trade without incurring any market inefficiencies. Importantly, this allows protection from front running!
All with just one account, one KYC, and one wallet!
