Xfai — August Updates

XFai
XFai-official
Published in
4 min readAug 19, 2023

--

Hello XForce!

It’s time for your August updates, and we have some big ones for you, as well as ticking the boxes off some necessary tasks and documentation to make things easier for partners. We know the XForce has been patiently waiting for breadcrumbs, and we’ve been busy baking — so, let’s get into it.

A new layer of Xfai 🎂

Starting with the most exciting and imminent news — Xfai is about to break through to a new layer of DeFi. A new Zero Knowledge Layer 2, that is. The chain in question is Linea — a recently launched chain by Consensys, who are some of the biggest players in Web3 with household name products including Metamask and Infura. Linea have recently launched their mainnet and mainnet bridges are now live; which means that projects can start to migrate their liquidity over to Linea.

Considering the credibility, experience and success of Linea’s parents and siblings, we believe that Linea is well positioned for attracting users and volume through the coming months and in future bull markets, especially when gas fees will be extremely volatile on Ethereum mainnet. Even now, Linea creates a great opportunity for arbitrage, solvers, and traders wanting to take advantage of all that Xfai has to offer, as Linea’s low network fees mean higher profits and more frequency of advantageous trading opportunities. Because of this, Xfai has chosen to deploy on Linea and will be migrating liquidity from the Ethereum chain pools over to Linea through this weekend.

Over the course of the next few days, in addition to the migration of liquidity to Linea, you will notice that Xfai’s dApp will load by default to Linea, as we position ourselves to focus primarily on Linea and other side chains for now; before returning focus to growing Ethereum liquidity and volume once we are more established through our success on other chains.

New side chains. New fees. Same $XFIT.

With a new adventure to a new chain, this means new fees will be earned by Infinity Stakers and Liquidity Providers on Linea. For all current iNFT holders, we will be airdropping you iNFTs with equivalent shares as your Ethereum iNFTs — these will be sent to your Linea address (if you haven’t made one yet, don’t worry — as Linea is an Ethereum Layer 2, when you add Linea Chain to your wallet, your iNFTs will show) which means that you will get exposure to fees from swaps that happen from Xfai’s deployment on Linea. We will share the relevant contract addresses and details for these NFTs in due course.

In addition; we will not be issuing a new $XFIT token for Linea — those who wish to mint an iNFT to get exposure to fees from swaps on Linea or to boost an existing iNFT will be able to do so using/bridging the current ETH native $XFIT token; giving more utility to the token and creating more avenues for the $XFIT token to become increasingly deflationary and scarce.

This ensures that all current iNFT holders will gain exposure to fees that are generated on this new chain whilst we focus on building Xfai’s reputation away from Ethereum for the time being; and that $XFIT holders will win from deflationary benefits of new users minting or boosting iNFTs on Linea.

Papers, please!

In other news; the Xfai documentation is also now live and available on https://docs.xfai.com/ and can be accessed from the main Xfai website — so for anyone wanting to read all about Xfai and the inner intricacies of how everything works, this one’s for you.

This documentation also makes it incredibly simple for aggregators, solvers, protocols and applications to integrate with Xfai; and for large liquidity providers and market makers to easily digest the full scope and opportunities provided by Xfai. This documentation will be continually updated as we push forward with our developments; so it can be considered the living codex of all things Xfai.

Our goal going forwards is to attract these entities to Xfai and continue to draw liquidity to Linea and push ahead with more integrations with aggregators and solvers who will drive volume; as well as bringing Xfai to more side chains in the near future to enact the same strategies and utilize the same advantages that Xfai will see from launching on Linea.

Thanks for the support as always XForce; we hope you find these breadcrumbs sufficient and succulent — we’ll get back to baking for your next delivery. As always; the DeFi revolution marches on! Viva La Xfai.

--

--

XFai
XFai-official

XFai develops tooling for the DeFi space – we graph the DeFi space to build game-changing products. Starting with the DLO: the DEX Liquidity Oracle