Weekly Update #7
We hope everyone is enjoying their farming and looking forward to the release of the new DEX. As the positive price action continues, we are motivated to deliver a groundbreaking product and continue to make progress for our strong supporters and investors.
Without further ado, we would like to share our latest update:
- Front-end bug: We are working on the high gas fee issue as the top priority. We will provide a detailed report and announcement about this issue on November 26th.
- New functions: We are adding a new function in our DEX called flash minting. It is similar to flash loans wherein flash minting, users can mint bridge tokens as long as they burn them right afterward. This makes a lot of transactions cheaper and would be a key function for arbitrageurs to use our DEX. We believe that this unique bridge token will play an essential role in bringing users to our DEX. We will explain further in a separate article why this is important and how it affects users from all spectrums. Please stay tuned for a separate article on this.
- Special incentives for XFIT holders: We are developing a side contract that allows users to stake XFIT without IL and get rewards along the way. In this unique way, we are planning to have more liquidity for our DEX. The details will be released on November 26th.
Winter is coming but we hope that your farming will continue and make your winter warmer than ever.
May the XForce be with you!
XFai develops tooling for the DeFi space, graphing it to build game-changing products. The XFai DEX is set to invite mid and small-cap tokens to start earning APY on their token holdings. We are aiming to become industry-first in providing a more efficient, transparent, and fair way for everyone to get involved at an early stage. The LGE for XFai’s native token, XFIT, was launched on 16th April 2021. We invite everyone to join the DeFi revolution, spearheaded by XFai.