XSwap is a name that has been gaining considerable attention lately, and for a good reason. The XSwap Treasure Token, XTT, may best be defined as XSwap Protocol’s farming reward token. Furthermore, it serves as the native token of its subproject known as the XSwap Launchpad.
What’s there to know?
The launchpad actually provides a comprehensive solution to projects seeking a wide range of services, such as project token generation, presale funding, token and liquidity locking, and multi-sending tokens. Additional features to the launchpad will be added in the future. These changes are dependent on what the team sees as beneficial for both XSwap and the end users.
Users can stake XTT to earn more of the same token. With no minimum or maximum limits, users have the freedom to stake any amount. Moreover, new projects that utilize the launchpad can also use the staking platform to successfully enable their respective communities to obtain staking rewards in their project tokens by staking XTT.
When users provide liquidity to XSwap’s decentralized exchange (DEX), they will be granted liquidity pool (LP) tokens (XSP2) and receive rewards for providing liquidity. These LP tokens can also be staked and will enable the users to earn rewards in XTT. XTT is minted by the main contract, and this is rare and fixed. For all pools in farming, minted XTTs are distributed in various proportions after taking into consideration their multiplier. The total pool rewards are proportionally shared by all LP providers in that pool.
The XDC Launchpad
The XDC Launchpad is the first fully decentralized launchpad for the XDC network. XSwap has witnessed the rapid growth of this industry, which ultimately led to the formation of the XSwap automated market maker (AMM) DEX. To better meet the needs of various startup projects and to further its goal of expanding the XDC network, XSwap created the launchpad so that new projects that want to build on the network can generate capital for their business operations.
This simultaneously allows investors to access early-stage token sales at significantly lower costs prior to these tokens being publicly launched in the market. In a nutshell, a “win-win situation” is therefore created for project developers and cryptocurrency investors alike.
Thanks to XSwap Protocol’s increasing presence and by utilizing the launchpad, numerous DeFi projects will be able to receive the much-needed exposure that they seek. This results in more people knowing about their project. Additionally, these projects will gain considerable traction and experience a steady increase in participation from their community along with some other potential markets. This will also result in having project tokens seamlessly integrated into cryptocurrency exchanges as well as obtaining a comparatively much wider reach to the overall DeFi ecosystem.
Important information about XTT
Apart from the official name being XSwap Treasure Token and the ticker being XTT (18 decimals), the total supply is infinite and the contract address is also publicly available. There was only one round of presale and the goal to reach 1 billion tokens was achieved.
The minimum amount required to invest was 4,000 XDC, whereas the maximum was 400,000 XDC. A 10% bonus was provided to those who did one-time maximum buy-ins of 400,000 XDC. It is also worth mentioning that 60 million XTT was allotted to be airdropped to XSP holders at a ratio of 1 XTT for every 100 XSP that they hold. The minting rate is dependent on the amount of XTT sold during the presale phase and would fall in the corresponding range set.
XSwap is an AMM DEX for XRC-20 tokens and is built on the XDC Network. Essentially, it enables all customers to swap and earn inside secured pools. XSP serves as the DEX’s native cryptocurrency, which is utilized throughout the blockchain and has certain utilities like farming, voting, staking and payment.
Moreover, the XSP token has already been integrated with Fireblocks, and we expect XTT to be integrated in the near future, too. In terms of past achievements, XSwap Protocol successfully launched its AMM DEX on the XDC network, and with the launch of XTT, XSwap will soon have its farming platform launched. XTT will be utilized as the main farming reward token as well as the launchpad’s native token. Regarding future goals, the team will focus on launching the XSwap Wallet along with the payment gateways.
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