by Tobie van der Spuy
Oct 04, 2021
At the time of this post over 34% of the circulating XBE supply has already been locked up, with another 31% of circulating XBE supply staked!
Thank you to the XBE community for the confidence you’ve placed in this project by locking up such a large share – and achieving this huge step for the protocol!
Figures as of 09:00 GMT+0000 4th October 2021
For those who have not yet locked-up for the maximum term, we are reminding you that the 5,000 bonus lock-up offer is about to end – in fact the exact last moment you can still benefit from it is if you lock-up your XBE for maximum term by Tue Oct 05 2021 20:53:32 GMT+0000.
Remember, this is the last chance for XBE holders to take advantage of some really amazing benefits!
Earn XBE Emissions:
Over the 23 months you will earn your share of the new XBE emissions – currently at around 33% APR for max term locked XBE.
Earn from the 5,000 BONUS XBE:
Between month 18 and 23 you will earn you share of the 5,000 BONUS XBE only available to users who lock up for max term BEFORE the 20:53 October 5th deadline.
This averages out to an estimated additional +100% in XBE over the full term of 23 months.
Earn from the Protocol Products:
As the protocol products (FIAT Ramps, XB Hive, the Easy XBE line, and the xbFactories) generate protocol fees – the fees are exchanged for XBE on the open market before being distributing to staked and locked XBE holders respectively.
This is ADDITIONAL XBE rewards over and above your share of new XBE emissions and the 5,000 bonus XBE (this figure is not included in any of the projected APRs).
Enjoy maximum boost that does not degrade over the term:
Your boost remains fixed at 100% for the entire 23 months! This means your share of new emissions AND additionally distributed XBE from the protocol products is earned at the maximum proportional rate possible.
That’s almost 3x that of users who just staked. Also, your boost rate does not decline – where the boost rate would decrease day after day for someone else that locked up their XBE anytime after the cut-off time at 20:53 on the 5th of October, just like veXBE does.
The impact of this fixed 100% boost rate becomes more significant as time passes – for example in 12 months your boost rate will still be at 100% while a user who locked after the campaign deadline would have seen their boost dropped down to 50% at that point.
At the last day of the 23 month period the other user’s boost will go to 0% and yours will still be at 100% – up until the exact second that the 23 months expire.
Get the most veXBE you can for your staked XBE:
Locking up for max term gives you the MOST veXBE you can get for your staked XBE right now. veXBE reflects your voting power in the network to propose and support (or oppose) XIPs (XB Improvement Proposals).
As per the planned protocol expansions to layer 2 networks, it is your veXBE figure at that time that will determine your share of influence on each respective deployment in the form of specific governance tokens for that layer 2.
It is of course possible to improve your veXBE further just before the veXBE snapshot for layer 2 governance tokens is taken by extending your lockup to 2 yrs from that date (an updated UI will allow you to lock-up to a date beyond the initial 23 month period), so you can get slightly more veXBE – but this won’t make a material difference in the short term.
Claim your staking rewards instantly:
When you claim your staking rewards from the above sources they are paid directly to your wallet – and they are not bonded for 5 days like the rewards claimed from the XBE/ETH Sushi pool, the XB Hive, or other products.
For those wondering whether the SushiSwap XBE liquidity pool will be worth farming, keep in mind that the protocol needs to keep incentivising liquidity – even if it won’t be at the current amazing rates for long (and while it will definitely reduce when the Hive launches, it will still be lucrative – you can read up for more about this in our Hive docs!).
Just remember that to participate in this pool you need both XBE and ETH, and that your assets are exposed to impermanent loss.
Locking up your XBE for max term before Tue Oct 05 2021 20:53:32 GMT+0000 is the simplest way to gain rewards on your XBE – and it’s the best way for you to benefit from and support the protocol as we start launching our main product lines!
Our deepest thanks for the massive support so far to everyone in the XBE community!
We look forward to building more exciting things together as we keep reaching for our vision of Integrated Finance!
- 5,000 BONUS XBE REWARD LOCK-UP CLOSES 20:53 Tue 05 Oct 2021 Oct 04, 2021
- WHAT IS XBE HIVE? Sep 11, 2021
- XBE Phase 1 “Soft Launch” Rewards Sep 05, 2021
- Protected: xbFactories: An Open Securities Framework Sep 27, 2021