XENIFY: Earn BNB Rewards ✨
Learn how you can access daily BNB Rewards through XENIFY!
XENIFY — The Nexus of Innovation & Reward, Effortless Cross-Chain Swapping, and Community-Driven Expansion!
Welcome to this 5-minute guide to Xenify’s launch on BNB Chain, we’ll unpack the distinct elements of our BNB launch, highlighting what sets it apart and how you can seize those BNB Rewards. Ready? Let’s jump in! 🚀
1️⃣ TL:DR; BNB Chain vs Arbitrum
Say hi to bXNF — the twin of XNF that lives on BNB Chain. Same vibe, different tribe. Here are the need-to-know differences between XNF and bXNF:
⚡Daily bXNF Distribution
- On BNB Chain, a greater portion of the daily bXNF reward pool will be veXNF rewards (75% vs 50% on Arbitrum). Unlike Arbitrum’s daily distribution, which has a 50:50 split of XNF and veXNF rewards, BNB Chain adopts a 75:25 split. Translation? 75% of the daily bXNF mint gets locked for veXNF rewards — 70% to BNB Auction participants and 5% to Swap Auction participants. vXEN & bYSL burners will receive the remaining 25% of the daily mint as tradeable bXNF.
⏰ Cycle Start Time
- Our BNB Chain launch kicks off at 21:30 pm UTC, an hour before Arbitrum. What does that mean for you? Well, it all depends on where in the world you are🌏. New York, it’s 4:30 pm; Jakarta, it’s 4:30 am. Not in these cities? No worries, Here’s a handy time zone converter to sync your time zone to 21:30 pm UTC.
🌊 bXNF-BNB UniSwap V3 Pool
- The protocol will establish a protocol-owned liquidity pool on BNB Chain with only 50,000 bXNF rather than 100k. The unused 50k? It’s never minted, effectively slicing the max supply of bXNF by 50,000.
🔥 Burn Auction Requirements
- To join, you’ll need to burn a minimum of 10 mil vXEN or 1 bYSL (yes, that’s YSL on BNB Chain). Burn Fee per batch? Just 0.1 BNB. Burn batches during the first hour, and you’ll snag up to a 75% discount!
2️⃣ bXNF: How’s It Minted?
How does bXNF differ from XNF, you ask? Well, bXNF follows the same max supply and halving schedule as its sibling XNF, but here’s the twist — when it makes its debut on BNB Chain, only half of the 100,000 bXNF set aside for the protocol-owned liquidity pool actually sees the light of day. So, right from the start, bXNF kicks off with a lower max supply.
Similar to Arbitrum, our protocol acts like a 24-hour token bakery, churning out a portion of bXNF’s total 22.6 million supply every day. The daily reward pool starts at a generous 20,000 bXNF tokens (and, of course, this number shrinks by 50% with each halving event). These freshly minted bXNF tokens find their way exclusively to participants in the three daily auctions:
- 💸 BNB Auction (70%) — 14,000 bXNF will be locked and distributed as veXNF (an NFT that represents locked bXNF and earns BNB rewards) among users that contribute BNB during the cycle.
- 🔥 Burn Auction (25%) — 5,000 bXNF will be distributed among users who either burn vXEN or bYSL during the cycle.
- 🔀 Swap Auction (5%) — 1,000 bXNF will locked and distributed as veXNF among those who perform eligible Arbitrum based token swaps on Xenify during the cycle.
3️⃣ BNB Rewards: How Do I Get ‘Em?
Connect your wallet to BNB Chain, claim your veXNF rewards from the Earn page, and Boom— BNB rewards 💥
When you claim your veXNF, it turns into a unique NFT on the lock page. This NFT will represent your locked bXNF position and keep track of its earning power. Got some unlocked bXNF? Just pop over to the Lock page, hit ‘Create Lock’ to create a veXNF position, and let the BNB rewards roll in!
⚡ Keep in mind that the amount of BNB rewards you receive at the end of each cycle ultimately depends on your share of total veXNF earning power.
The greater the amount of veXNF you hold and the higher your earning power, the more substantial your BNB gains when the cycle ends!
Now, let’s break down your veXNF NFTs decay schedule — it’s kind of like a timer, counting down your earning potential. As a veXNF holder, each cycle brings BNB rewards based on your NFT’s power, kicking off at 100%. Your NFT’s earning power dips over its decay schedule (~1 day to 60 days based on your lock period), finally reaching zero.
But don’t stress! You’re the conductor here. Boost your earning power by merging extra veXNF rewards or extend your lock time to revive your rewards tap before it runs dry. When the lock ends, simply click on ‘Unlock NFT’ and you’re handed back 100% of the bXNF that the protocol locked up, while the protocol burns your veXNF NFT from existence 🔥
4️⃣ Can I Burn YSL in the BNB Chain Burn Auction?
Nope! The Burn Auction on BNB Chain only accepts vXEN or bYSL batches. Likewise, you can’t burn your bYSL in Arbitrum’s XNF Burn Auction either.
5️⃣ Can I Lock Arbitrum XNF to Earn BNB Rewards?
No can do! BNB Rewards are exclusive to BNB Chain participants. Join the burn auctions for bXNF, or BNB & Swap Auctions for veXNF, and you’ll be able to enjoy BNB Rewards.
6️⃣ Can I Earn BNB Rewards With veXNF From Arbitrum?
Nope, once again! veXNF NFT positions are chain-specific. So, there’s no way to migrate veXNF to earn rewards between the chains. The same holds true for merging bXNF with your Arbitrum veXNF NFTs, and vice versa— computer says no!
💫 And there you have it — a quick overview of our BNB launch!
That wasn’t too bad, right? By now, you’ve likely gained valuable insights into the nuances of our BNB launch and its daily auctions, unveiling the path to unlocking those coveted BNB Rewards.
Xenify not only offers you instant access to market-leading rates from 60 aggregators across 54 chains, but a truly rewarding swap experience. With unique tokenomics, and an equitable, community-driven approach, Xenify represents the ultimate choice for anyone looking to simplify the swap process while maximising their earning potential.
Remember, this was just a 5-minute guide— feel free to delve deeper into the Xenify Litepaper for a more comprehensive understanding!
Until next time, signing off ✌️
Bonus Tips & Tricks
♻️ Recycle BNB Rewards for Fee-Free bXNF Acquisition & More: Opting to recycle your BNB rewards is a smart move, as it not only helps you side-step the 25% claim fee but also enables you to grow your bXNF position and earn exclusive BNB rewards. How? Your full rewards balance automatically joins the daily burn auction, with no vXEN or bYSL required. The protocol even covers burn fees out of your recycled rewards. This means you’re effectively participating in the burn auction without providing any vXEN, bYSL, or BNB for the burn fees! And that’s not all — by recycling your rewards in the first hour of the cycle you’ll also be included in an exclusive reward distribution of BNB generated from the platforms claim fees!
💡Mastering the bXNF Liquidity Black Hole: Before hitting the sell button on your bXNF, it’s wise to grasp the dynamics behind the bXNF Liquidity Black Hole. Here’s the lowdown: While the protocol can buy bXNF for the automated buy-and-burn, users won’t be able to buy bXNF from the protocol-owned liquidity pool — only sell bXNF. This one-way street means that every time someone sells bXNF through our protocol-owned liquidity pool, those tokens are removed from circulation, creating a “black hole” effect that amps up the scarcity of bXNF.
⚡ Early Birds Catch Lower Burn Fees: Want the secret sauce for the best burn auction returns? Hit it fast and hard early in the cycle! Early birds enjoy the benefits of both the Time Coefficient (TC) and Batch Coefficient (BC), unlocking substantial burn fee discounts when burning vXEN or bYSL. By simply burning batches in the initial hour, you’re granted a 50% discount thanks to the TC. Aim higher with 10,000 batches within this timeframe, and you’ll hit an impressive 75% discount, courtesy of the BC. The longer you wait, the more you pay — it’s the classic case of the early bird getting the juiciest discount!
📌 Keep Up With XENIFY
🌟 Stay in the loop by following us on Twitter and Medium, and don’t forget to subscribe to our YouTube Channel for more content!
🤔 Curious to learn more? Check out our Litepaper, it’s a great resource and is packed full of information on everything Xenify!
👋 Can’t find what you’re looking for? Hop into our Telegram channel for help. Don’t be shy — come say hi!
You can find all our helpful links here: info.xenify.io
