XDEFI Releases Staking Mechanics

XDEFI unveils its single-sided staking  on Ethereum which will provide multiple benefits within the XDEFI Wallet ecosystem.

The staking mechanics are built using Curve’s veModel as a foundation and combined with additional utility and innovative mechanics that are engaging, fun and usable across the entire DeFi ecosystem. Yes you get NFTs here!.

Benefits

• $XDEFI rewards - 75% of fees go to stakers.
• Discount on fees - Discount credits embedded within XDEFI badges.
• Other rewards- Custom wallet skins, voting rights and premium features.

“XDEFI Badges”: A novel staking concept

In XDEFI's staking model, “XDEFI Badges” represent the user’s staking position as NFTs (non-fungible tokens).

$XDEFI holders interested in staking their tokens decide the amount to stake, as well as the staking period, such as 15 / 30 / 45 or 60 days. The larger the staked amount and the longer the lock-up period, the faster the $XDEFI rewards are accumulated.

In addition, each $XDEFI staker receives an NFT called a “bXDEFI” — which stands for XDEFI Badge — that represents their locked position in terms of size, bonus multiplier and minimum duration. Of course, this NFT is also visible in the XDEFI Wallet itself.

Each staking position also has a number of credits, which define which of the 13 different predetermined bXDEFI tiers it falls into, ranging from 1 (the lowest) to 13 (the highest). The personal staking tier also defines the look and rarity of your NFT.