Announcing Xend Finance Public Sale Round on Balancer

First and foremost, our mission is to bring Decentralized Finance (DeFi) and stable currency investment opportunities to credit unions, cooperatives, and underserved communities and regions around the world. In particular, we take seriously our roots and commitment to the African continent in bringing DeFi to the more than 1.5 billion people in the region. As part of that initiative, it’s important that we have a decentralized community that holds $XEND tokens, for which the community will be able to vote on governance and features. Xend Finance is a Decentralized Autonomous Organization (DAO).

We have been overwhelmed by how quickly our community has grown. In November we publicly launched, although it probably helps that it was covered by Coindesk, and that we have Binance and Google Launchpad as our backers. In January we had our testnet, which included over 1,500 participants in 75 countries. In February we formed a real-world partnership with one of the largest Credit Union consolidators in Africa. In March, our Telegram and Twitter communities both crossed 20,000 members, which is not something we would have ever imagined could’ve happened so quickly. And now we’re here.

We’d like to take a moment to go over the different stages of how our $XEND token will be made available and distributed. This plan aims to reward many of you early followers and supporters. It also ensures that we will have a healthy outlook for years to come as we bring people in developing countries the opportunity to earn more from their savings through stable currencies and the opportunities that DeFi enables.

Stage I — DAO Maker SHO (Feb 15–21): COMPLETED

A retrospective review from team DAO Maker:

The Xend Finance Strong Holder Offering SHO took place on the DAO Maker platform during the week 15–21 of February. From the 15th of February, 18:00 UTC to February 18th, 13:00 UTC, people were able to sign-in connecting their Metamask to the DAO Maker platform. This process was a tremendous success with thousands of participants from all around the world. We were getting staggering figures: more than $144M of wealth staked, over $7M of $DAO staked and 3,200 eligible participants and 14,452 issued tickets.

“We can proudly say that Xend Finance SHO has been the most oversubscribed sale to date on the Dao Maker platform.”

Stage II — Balancer LBP (March 22–24)

Xend Finance will auction 6.65% of total token supply in a Liquidity Bootstrap Pool (LBP) by Balancer. The LBP will launch at 15:00 UTC+0, March 22, 2021 and end at 15:00 UTC+0, March 24, 2021.

XEND LBP Summary

The LBP is a decentralized auction that is similar to a dutch auction, offering fair opportunity for participation and orderly price discovery. The weighting of $XEND in the LBP decreases over the 48-hour auction. This deflationary pricing mechanism discourages front-running and sniping, lengthening the participation window and reducing price volatility during the auction.

The LBP enables participants to purchase tokens patiently without fear-of-missing-out, as the deflationary mechanism will suppress the price over the entire LBP duration. The graph below shows how the deflationary mechanism is offset by inflationary buying pressure over the duration of the LBP.

XEND LBP Chart of Price against Time in hours

Steps to participate in $XEND LBP:

1. Go to https://balancer.exchange/#/swap after the launch time
2. Connect a compatible wallet — MetaMask, WalletConnect, Portis, Coinbase Wallet, Fortmatic

1. On the Balancer page, select “Asset”.
2. $XEND LBP is paired with USDC; other assets will result in greater transaction costs.
3. Ensure your wallet has sufficient ETH for gas charges.
4. Insert the $XEND contract address which will be published on https://xend.finance/ following our token generation event.
5. Insert the amount of $XEND that you wish to purchase and select “SWAP”
6. $XEND will be in your wallet when the transaction is complete.

For more information visit Balancer LBP FAQ.

⛔ Countries excluded from Xend Finance LBP: United States, Canada, North Korea, South Korea, Indonesia, Iran, Botswana, Cambodia, Comoros, Ethiopia, Ghana, Pakistan, Panama, Seychelles, Sri Lanka, Syria, Thailand, Trinidad & Tobago, Tunisia, Yemen and any jurisdiction in which the IDO is prohibited, restricted or unauthorised in any form or manner whether in full or in part under the Laws, regulatory requirements or rules in such jurisdiction.

Stage III — Uniswap LP (March 24)

Once the Balancer LBP concludes, we will be adding liquidity to Uniswap so that anyone, anywhere can have trustless access to $XEND tokens. We will disclose after the launch how much liquidity was added to Uniswap by the Xend Finance team. As detailed below, we are taking a multi-faceted approach to building global liquidity which will require resources to deploy across additional trading venues, including those which will support our mainnet in the future.

Stage IV — CEX Expansion (TBD)

At Xend Finance, we understand the importance of liquidity if we are to be successful. We also understand diversification across different trading platforms is key to building a robust market. As such, we are in talks with top reputable centralized exchanges globally and intend to expand into these markets shortly after our Uniswap launch as a priority.

We are very excited to give you more opportunities to support the project and underserved communities around the world. If you have more questions, don’t hesitate to ask here in the comments.

You can also follow our Medium and Telegram Announcement channel for more details to come.

Sincerely,

Ugochukwu Aronu and the Xend Finance Team