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Guide to XTK Community Vesting

michael j. cohen
xToken
Published in
6 min readFeb 25, 2021

We will update this post regularly with details of new incentive programs

We’re excited to announce the xToken Community Vesting program. We’ve set aside 50% of the XTK supply for various initiatives designed to engage the community.

A Few Notes

Our incentives contracts are a slight fork of PieDao’s liquidity mining contracts which are a slight fork of Synthetix’s Staking Rewards and Reward Escrow contracts.

First, the basics:

  • Users acquire the xAsset directly at xToken Market or via a DEX like Uniswap, Balancer, 1Inch or Bancor
  • Users provide liquidity to select Uniswap, Balancer, 1Inch and Bancor pools. These pools hold 50% of capital in an xAsset and 50% in either one or two other assets, depending on the pool. (In the case of our single asset staking pools, this step is not required.)
  • Users stake their LP tokens or xAssets on xToken Cafe and XTK rewards accrue linearly based on proportional share of tokens staked.

We’ve introduced a few small wrinkles in order to attract long-term-minded liquidity providers who believe in and are aligned with the project. We would be happy to forgo a few dollars of TVL if it means our LPs are in it for the long term.

  • Users must exit the staking contracts in order to claim. This means that your LP tokens or xAssets will be unstaked when you claim.
  • User rewards are escrowed for 6 weeks after the exit/claim transaction. Rewards will be vested and fully receivable 6 weeks after the claim.

Of course, users can just re-stake their LP tokens or xAssets after claiming and exiting. It’s encouraged. However, we are hoping that a little bit of added staking friction and a short escrow period will deter farm-and-dumpers from participating.

Lastly, please note that xAssets are fairly new and highly risky. Please review the available information on Medium and xToken Market before making any investment decisions.

xU3LP Wave 1 (8 week extension starting August 18 2021)

xU3LPa (DAI-USDC) Single Asset Pool

xU3LPb (USDC-USDT) Single Asset Pool

xU3LPc (sUSD-USDC) Single Asset Pool

xU3LP Wave 2 (starting August 11 2021) — 10 Weeks

xU3LPd (sETH-WETH) Single Asset Pool

xU3LPe (WBTC-renBTC) Single Asset Pool

xU3LPf (USDC-UST) Single Asset Pool

xU3LPg (FRAX-USDC) Single Asset Pool

xU3LPh (BUST-USDT) Single Asset Pool

XTK-WETH Uniswap Pool (4 week extension starting August 3 2021)

xSNXa Balancer V2 (4 week extension starting July 29 2021)

XTK-WETH Uniswap Pool (6 week extension starting June 21 2021)

xBNTa and xSNXa — New Programs (Starting June 15 2021) — 6 Weeks

xBNTa Single Asset Pool

  • Rewards: 250k XTK per week
  • Mint xBNTa
  • Stake LP tokens on xToken Cafe

xSNXa Balancer V2 xSNXa/WETH 75/25 Pool

xU3LP Wave 1 (starting June 8 2021) — 10 Weeks

xU3LPa (DAI-USDC) Single Asset Pool

xU3LPb (USDC-USDT) Single Asset Pool

xU3LPc (sUSD-USDC) Single Asset Pool

Extension of Initial Liquidity Program (starting May 7 2021) — 6 Weeks

xAAVEa-WETH-AAVE Balancer Pool

xAAVEb-WETH-AAVE Balancer Pool

xKNCa-WETH Kyber DMM Pool

xKNCb Single Asset Pool

xINCHa Single Asset Pool

xINCHb Single Asset Pool

XTK-WETH Uniswap Pool

xBNTa Liquidity Program (starting Apr 27 2021)

This xBNTa-BNT pool has been discontinued

We’ll be running a 10-week incentive program on the xBNTa-BNT Bancor pool initiating April 27th at noon EST (New York time). The pools will be open for staking as soon as we launch xBNT on April 26th.

xBNTa-BNT Bancor Pool

Initial Liquidity Programs (starting Feb 25 2021)

All 8 of our pools will begin a 10-week incentive program on February 25th. We fully intend to extend most or all of these programs beyond 10 weeks.

Please note that adding liquidity can be very expensive in this high gas environment. Please consider whether your rewards will be sufficient to cover gas costs.

Note that Balancer requires users to deploy a DSProxy contract before contributing liquidity. This can be an expensive transaction, so if you’ve LP’d on Balancer before, we encourage you to use the same address.

Finally, we highly recommend that users who mint xAssets directly on xToken Market use the base token to mint (e.g., SNX for xSNXa or AAVE for xAAVEa) rather than ETH. While our contracts accept ETH for minting, the gas cost will be much higher than minting with the base token.

xSNXa-WETH-SNX Balancer Pool

xAAVEa-WETH-AAVE Balancer Pool

xAAVEb-WETH-AAVE Balancer Pool

xKNCa-WETH Uniswap Pool

Please migrate your legacy xKNCa if you have yet to do so. If required, you’ll be prompted to migrate on xToken Market.

xKNCb-WETH Uniswap Pool

Please migrate your legacy xKNCb if you have yet to do so. If required, you’ll be prompted to migrate on xToken Market.

xINCHa-ETH 1Inch Pool

xINCHb-ETH 1Inch Pool

XTK-WETH Uniswap Pool

If you’re curious about the difference between A and B instances of our funds, check out xtoken.vote for more on our approach to governance: Mandated Governance. If you’re indifferent to governance, either instance will suit you. They are identical economically.

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michael j. cohen
xToken

Written by michael j. cohen

560 Followers
Editor for

founder at xToken — michael @ xtoken.market

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