Quick steps for XFIT Staking!
The time is upon us! Legacy Farmers have now been able to claim their XFIT rewards and LP — and we’re pleased to announce that the next step in the journey, XFIT Staking, is now live, today, Sunday 13 February.
XFIT Staking is different to traditional staking — when you stake your XFIT, you transform your XFIT into an XFai Liquid NFT. These XFai Liquid NFTs represent a share of the Deep Pool of the Slippage Optimization Contract (SOC).
The SOC allows for near-zero slippage between any two tokens — whenever a swap occurs on the DEX, the equivalent amount of XFAI tokens (in terms of exchange value) gets removed from the DEX and sent to the Deep Pool. There is a 1% allocation of this deep pool which is to be shared by XFIT Stakers.
Quick steps to stake your XFIT and receive your Liquid NFT:
Step 1 — Go to https://xfai.com/app/stake and connect your wallet.
Step 2 — Once your wallet is connected, enter the amount of XFIT that you’d like to stake and click [approve].
Step 3 — Verify the transaction fees on your wallet and wait a few seconds until the transaction is confirmed.
Once the transaction is confirmed, you will see that your XFIT is approved for staking. Click [Stake] to stake your XFIT tokens.
Step 4 — Verify the transaction fees on your wallet and wait a few seconds until the transaction is confirmed.
Once the transaction is confirmed, your screen will indicate that your XFIT tokens have been staked.
Step 5 — Congratulations! You have now staked your XFIT tokens and your Liquid NFT will be in your wallet.
You will be able to see the percentage of your share on the [Manage] tab, as well as the options to [Boost] and [Transfer].
As our DEX draws ever closer, we grow ever more excited to share with you the full scope of what we’ve been building over the last year. The XForce are hugely important to XFai, and we’re pleased that our XForce can share ownership of our revolutionary DEX through XFai’s Liquid NFTs.