We are proud to announce our next hot IDO to be launching on Ignition!
PAID community, give a big welcome to XFai, a DEX liquidity oracle (DLO) that utilizes a set of autonomous smart contracts that enable holders of ‘small-cap’ tokens to maximize their investments and earn returns.
- Whitelist Start: April 14, 2021 : 11AM UTC
- LGE and DEX Listing: April 15th, 2021
- Whitelist Close: April 17, 2021 : 4AM UTC
- XFai IDO on Ignition: April 29, 2021
Whitelist for XFai on Ignition is closed.
The Liquidity paradigm
“Liquidity” is a word used exhaustively in the DeFi and cryptocurrency space and refers to the ease of how a digital asset can be transacted without affecting its overall market price. Illiquid markets or those with “low liquidity” are subject to volatility due to price slippage when trades take place that reduce profits overall as the value of the asset decreases consistently.
Small-Caps vs Large-Caps
A small-cap token is defined as any token with a market cap below 400M USD. Currently, holders of such tokens are subject to price slippages when trading due to low liquidity levels and also have no way of earning returns as liquidity providers because their tokens are essentially stuck on centralized exchanges (CEX’s). Moreover, holders of such tokens are hesitant to put their tokens on decentralized (DEX’s) like Uniswap or Balancer, where they can earn rewards as liquidity providers due to the fact that there is a lack of liquidity there in the first place. This represents a classic lose-lose situation that keeps ‘small cap’ tokens away from transitioning to on-chain DEXs like Uniswap, where they can benefit from selling at a stable price and also share exchange fees as token liquidity providers.
On the other hand, large-cap tokens such as DAI and ETH are greatly advantaged in the DeFi space mainly because all major lending protocols support them as they generate value and returns on various liquidity pools and yield farming platforms. This creates a gap of utility between large-cap and small-cap tokens.
A DLO model adding value to Small-Cap Gems
XFai’s DEX Liquidty Oracle (DLO) is a unique DeFi oracle that provides data in the form of price feeds and actively manages token liquidity via contracts on DEX’s like Uniswap or similar platforms. These DLO contracts allow DEX’s access to small-cap liquidity stored by users on CEX’s and enables small-cap holders to automatically earn denominated returns similar to how Bitcoin Bonds and Ethereum staking allow for BTC and ETH.
Through the same contracts, the DLO will also deploy ‘small cap’ tokens to shape market curves on DEX’s to match or exceed their price to volume ratio equal to that of CEXs in order to provide a simultaneous and seamless trading experience between the two.
To learn more about the main features of XFai’s DLO, click here.
Overcoming fragmentation in the DeFi space
A major issue today in the DeFi space today is mass fragmentation across its user base. There are just so many projects to choose from, and many of the available projects require users to migrate to their own native platforms. This creates a gap in liquidity and an environment that disperses the overall community. By streamlining its DLO protocol, XFai is trying to unify the DeFi space and make it more profitable for small-cap holders as traders and liquidity providers on DEX’s. It hopes to achieve this by providing a system that improves price efficiency and a liquidity solution that unlocks small-cap tokens’ potential by adding further utility.
The $XFIT Liquidity Generation Event and DEX listing will take place simultaneously on the 15th of April. This is the first of its kind for Ignition users. This means whitelist applicants will still have the opportunity to win tickets for a locked price IDO taking place after DEX listing.
Whitelist for XFai is closed.
- For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, must pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which varies per project on a case to case basis. For a list of XFai specific restricted KYC countries check HERE.
XFai develops tooling for the DeFi space, graphing it to build game-changing products. The XFai DLO is set to invite mid and small-cap tokens to start earning APY on their token holdings, while the XFai LGE is set 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, is set to launch on 8th April 2021. We invite everyone to join the DeFi revolution, spearheaded by XFai.
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