XDEX main pool: from the current weight of 45 to 115.2;

The pool of BAL : from the current weight of 5 to 2;

The pool of ZRX : from the current weight of 5 to 2;

The pool of SNX : from the current weight of 5 to 2;

The pool of KNC : from the current weight of 5 to 2;

The pool of INCH : from the current weight of 5 to 2;

The pool of UNI : from the current weight of 5 to 2;

The pool of BNT: from the current weight of 5 to 2;

The pool of CRV : from the current weight of 5 to 2;

The pool of LRC : from the current weight of 5 to 2.

The total number of rewards for each farming pool remains unchanged, and the weight adjustment has been added to the time lock. The adjustment will take effect at 1:00 am on March 27th(UTC+8).

Reminder: xDeFi will conduct comprehensive data analysis of each farming pool according to TVL, and optimize and adjust the output weight of each pool block from time to time. Before each optimization, an advance announcement will be made in the community. Please refer to the the pool’s weight allocates your funds reasonably. After the DAO management is opened, the weight adjustment plan will be decided by the community to vote.

The community rewards are already available, including the first round of testing on the Ethereum Kovan testnet, the second round of testing on the Ethereum Kovan testnet, the invitation bounty activity, and the first round of voting for the Binance Smart Chain (BSC) Grant. A total of 580,970 XDEX (worth approximately $1.2 million) were airdropped.

Airdrop reward collection address: https://xdex-airdrop.vercel.app/

Airdrop contract address: 0x25fB9a4A430120E945C48f4a0DC7CE9b41fFDe4F
Valid time: You can get it within 15 days from now

Yield farming on mainnet will be launched soon, stay tuned!

link to xDeFi：https://swap.xdefi.com/‌

It will be automatically linked and signature is required ( no gas cost) if your wallet is Metamask. The other wallets shall be activated accordingly.

‌The Balance on the Swap page shows the token left in your wallet. If you have never traded with the account, please click unlock for approval. You can set your own transaction rules( including Slippage Tolerance,Interface Settings)by clicking little gear icon. Others are the same as common transactions, just by clicking Swap to buy and sell.

2、‌Provide liquidity‌

By clicking POOL at any page, you will come to the pool.‌

You can either create liquidity pools or add or cancel liquidity to the existing pools as well as search pools by clicking search button. For those pools named farming, by adding assets, one can start its liquidity farming.

3、How to add liquidity

In the first place, choose the pool that you want to add liquidity, by clicking ADD, then there you are.‌

Adding liquidity can be divided into two parts, multi assets adding and the single asset adding. The difference lies in the first one is being added directly, while the second one is being added when the asset is converted automatically to multi assets, which with appropriate ratio to the pool, basing on the current transaction prices.‌

Likewise, you should click approve ( gas is cost) first, if you have never unlocked any assets in the pool. The number shows red if your asset is lacking.‌

To facilitate your operation, we provide four kinds of ratios 25%, 50%, 75%, 100%. By clicking on one of them, your asset shall be filled in accordingly.‌

At last, you can add your liquidity by clicking Add Liquidity button.

‌Single asset and multi assets have same procedures except for you should firstly choose which one to go through.

4、Farming

Enter in farming by clicking the Farm button at the top of any page.‌

There are main pools and normal pools. The main pools are characterized by fast speed, slow unlocking, normal pools are the converse. you can choose either of them, and enter in directly.

After entering the farming page, there are three messages on the left side: Earned, Unlocking, and Withdraw. Earned stands for the number of tokens that you have dug in all the pools below but still need to be unlocked. The unlocked number is the token you are unlocking. The number that can be withdrawn is tokens that you can withdraw directly to the wallet.‌

Harvest and Withdraw are on the right corner.‌

Click harvest button, you can withdraw earned tokens added to the unlock for unlocking. The unlocking value means your voting rights, and the larger the value is, the more voting rights you have. If the earned tokens are not transferred to unlocking process, no profit or voting rights will be obtained.‌

Click the withdraw button to withdraw the tokens that can be withdrawn directly to your wallet.‌

It should be noted that the three items earned, unlocked, and withdrawable on the upper left side of the ordinary pool are the sum of the income of all ordinary pools, instead of the income of a single pool.‌

When you click Harvest or Withdraw, you can only harvest or Withdraw from a single pool.

If you do not approve, you need to click Approve to allow farming.‌

If you do not have the liquidity certificate (XPT) of the farming pool, namely, you have not deposited liquidity in the farming pool, the deposit and withdrawal of the farming pool are grayed out. In this case, you can click on other place of the farming pool to enter in the liquidity pool of the farming pool. For depositing liquidity, please refer to the previous chapter on add liquidity.

‌Click Confirm and start to farm after depositing the liquidity certificate (XPT) .

5、‌Halflife

Entering into the page by clicking Halflife on the navigation bar.‌

Clicking on Pool, you can check the status of each stream.‌

Clicking on Mine, check streams relevant to yourself.‌

Clicking on New, create your own time lock for stream payments.‌

Clicking on Details, check details of each stream.

‌Create halflife

‌Click the select token input, you can select the token in the list, or enter the ERC20 address of a token in your wallet.‌

Click the total amount of capital flow token input box and enter the number of tokens that you want to send. The maximum amount of each currency in Halflife needs to be approved (for example: sending usdt, the maximum allowed amount was 100 before, if you want to send 1000 this time, you need to be re-approved).‌

Click the Recipent address and enter the ERC20 address you want to send to.‌

Start block fill in the start block of halflife, we automatically fill in the block 6 hours after the current time for you.‌

please fill in the number of blocks required to unlock once in the interval block, representing K in the formula.‌

Unlock Ratio should be the percentage of each unlock, meaning the ratio in the formula.‌

Half-life formula reference：‌

The time needed to unlock the half of the current‌

t=−K/log2(1−ratio)∗13.1s

The protocol stack of xDeFi is undergoing the second Ethereum Kovan testnet activity. Welcome everyone to our testnet to experience Swap, Pool, Farm and HalfLife functional modules.

Now the development team of xDeFi is pleased to announce to everyone that after many audits and communications, the Dex, Farm, and HalfLife contracts have officially passed the final audit of CertiK, and all known bugs and risk points found have been fixed.

Smart contract audit

Security Audit Certificate, check here: https://certik.org/projects/xdefi

For a detailed audit report about xDeFi, check here: https://github.com/xdefilab/xdefi-base/blob/master/audits/Certik%20Final%20Report%20for%20XDeFi.pdf

For a detailed audit report about XDEX-Gov-CertiK check here: https://github.com/xdefilab/xdefi-base/blob/master/audits/XDEX-Gov-CertiK-Final-Comments.pdf

Thanks to the CertiK team for their unremitting efforts for the security of xDeFi’s contracts!

The xDeFi team always believes that the security of the contract code is the cornerstone of DeFi.

More security audits will continue and will be released to the community as soon as possible in the future. Stay tuned!

The protocol stack of xDeFi is undergoing the second Ethereum Kovan testnet activity. Welcome everyone to our testnet to experience Swap, Pool, Farm and HalfLife functional modules.

Now the development team of xDeFi is pleased to announce to everyone that after many audits and communications, the Dex, Farm, and HalfLife contracts have officially passed the final audit of SlowMist, and all known bugs and risk points found have been fixed.

Smart contract audit

Security Audit Certificate, check here: https://www.slowmist.com/en/security-audit-certificate.html?id=7b91209f526407299aee5f99688b62fb2c337a4316a6b305719a9e3cd5442348

For a detailed audit report about xDeFi-DEX, check here: https://github.com/xdefilab/xdefi-base/blob/master/audits/XDeFi-DEX%20Smart%20Contract%20Security%20Audit%20Report.pdf

For a detailed audit report about xDeFi-governance-token check here: https://github.com/xdefilab/xdefi-base/blob/master/audits/XDeFi-Gov%20Smart%20Contract%20Security%20Audit%20Report.pdf

Thanks to the SlowMist team for their unremitting efforts for the security of xDeFi’s contracts!

The xDeFi team always believes that the security of the contract code is the cornerstone of DeFi.

More security audits will continue and will be released to the community as soon as possible in the future. Stay tuned!

The protocol stack of xDeFi was launched on the Ethereum Kovan testnet on December 15, 2020, and successfully completed the first testnet prize-winning from February 7th to February 21st, 2021（UTC+8).

During the first testing, the entire site had more than 10,000 UV in a single day, more than 4,000 people participated, and more than 7,790 Streams were created. A total of 9.94 million XDEX was locked. The Total Liquidity reached 10 Billion USD and the Total Volume reached 25 Million USD. XPT shares reached 860,578.

At the same time, test users also gave feedback on many constructive improvements. Thank you very much for your active participation. The reward list of first test and the bug feedback are still under final review and will be announced at a later date.

Technical colleague have successfully repaired the bugs reported in the first test. In order to further check the missing parts and improve the product experience, the second testing activity is specially carried out. The test tasks and requirements are the same as the first time. All users are invited to test and experience Swap, Pool, Farm and HalfLife functional modules. During this testing activity, valid users participating in the testing activity can once again share 100,000 XDEX (not including bug rewards) token incentives.

Activity Time

2021.03.03 13:30 AM- 2021.03.10 13:30 AM (UTC+8)

Activity contents

Activity 1 : Experience xDeFi immediately and share 100,000 XDEX

Activity reward : 20 XDEX/person

Reward quota : First-come-first-served, this test will automatically end after the reward is issued.

Way of participation : Get the test coins through the faucet, you can view “How to get Kovan testnet tokens”.

• Log in to https://swap.kovan.xdefi.com ;
• Connect to the Ethereum Kovan test network through the MetaMask wallet ;
• Complete the following operations on xDeFi through the Kovan testnet :

a. Exchange (Swap) ;

b. Add liquidity, remove liquidity ;

c. Create stream with xHalfLife.

Activity Details ：2021.03.03 13:30 AM- 2021.03.10 13:30 AM (UTC+8), all users who complete tasks （3 times Swap + 1 time to add liquidity + 1 time to remove liquidity + 1 time to use xHalfLife to create a stream”）on the Koven testnet as required will have the opportunity to share event rewards.

Each user can get up to 20 XDEX until the 100,000 tokens are issued. After xDeFi is officially launched on the Ethereum mainnet, the XDEX token rewards on mainnet will be issued to the MetaMask address of each eligible user participating in the testnet activity.

Activity 2 : Find bugs and win rewards

Activity reward : 500 XDEX/ Bug

How to participate : If you find any bugs caused by platform problems during the “Activity 1” testnet experience, you can scan the QR code below to submit the bug description through the questionnaire, and you can also give us feedback on your experience and suggestions. After the xDeFi team confirms the bug as a valid bug, when the mainnet goes online, users who submit valid bugs will be issued 500 XDEX/bug rewards to their reserved Ethereum wallet address.

Activity Details :

a. When multiple users submit the same bug, the user who submitted the bug first will get the bug reward.

b. The same user can submit up to 3 bugs. The user reward is calculated according to the total number of adopted bugs, and each person can accumulate up to 3 times.

c. Users can check the bug adoption status and award status through the follow-up articles of this official account of xDeFi.

​Precautions for this test

• All rewards will be issued to the Ethereum MetaMask account address reserved by the user after the protocols are launched on the Ethereum mainnet.
• Each IP corresponds to only one MetaMask account address, and the account creation time (the first account transaction record) requires more than 2 months. If there are multiple addresses, only the account with the most rewards will be issued rewards;
• The final interpretation right of this test belongs to the xDeFi team.

1. Practices of Streaming Protocols On Ethereum Blockchain: A Brief History

In 2020H1, in order to increase users and attractiveness, Compound.finance tokenized its governance power by rewarding banking behaviors on its lending system, allowing users to participate in the voting activities to approve improvement plans.

This $COMP farming greatly simplified compound interest calculations block by blocks: Only new activities from users (Deposit/withdraw funds, or claim $COMP earnings ) will cause claimable $COMP transferred to users’ wallets, with gas cost paid by users themselves. The compound interest calculation on the Ethereum blockchain is continuous, but gas consumption is greatly reduced by this lazy claiming scheme.

In 2020Q2, Mainframe announced the acquisition of Sablier Protocol. Sablier is a real-time financial protocol on Ethereum that supports continuous, autonomous, and trustless payroll. In the form of linear unlocking, it was widely used on agreements between creditors (employees) and the debtors(employers), so it was also modified to simulate loan issuing patterns: Debtors issue tokenized loans and obliged to pay coupons to creditors on a block basis.

In 2020Q3, Sushiswap tokenizes its liquidity providers’ revenue to a unified $SUSHI tokens. With some codes modified from YAM, it still designs a webpage with LP farming revenue which is jumping every second. Theoretically, the mining contract exchanges the potential reward cashflows on LP token (liquidity service commitment certificate) to a $SUSHI bond ( which generates a set of future $SUSHI interests).

2. xHalfLife Protocol: Thoughts, Improvements, and Implementation

2.1 Highly Unstable APY In Early Stages Of DEX Tokens’ Farming

Farming projects have always faced a dilemma: Higher APY means extraordinary farming attractiveness which may cause rapid accumulation of TVL(Total Value Locked), but soon it will be converted to higher potential dumping power. Considering the case of $SUSHI, within a few days after launching, many LP pools are eligible for ~1400% APY in the early stages. After Chef quitted the SushiSwap team, a sudden dump on ETH itself ( about -40%) happened, which caused SUSHI-ETH liquidity to collapse, $SUSHI price reduced by 96%. Highly unstable tokenomics always lead to the problem of lacking confidence.

2.2 xHalfLife: Mathematically No Other Choices

The most commonly used vesting scheme among Internet companies is 4–6 years of linear or accelerated vesting (there are examples of 1/6 reward per year for 6 years, and examples of 15%-25%-25%-35% for 4 years).

At the end of 2020, after taking conventional vesting into consideration, the SushiSwap dev team maintained the confidence of SushiSwap holders by embedding the repurchase codes into their smart contracts, and 2/3 of the farming revenue will be vested for 6 months. The problem is, after 6 months later, vesting income will still be a considerable dumping power if the projects make no progress during this period. Comparatively, Filecoin mining designed a 25% released + 75% linearly vesting strategy which smooths the token distribution on the time span, but if someone backtraced many continuously released cash flows, for Solidity it will directly lead to “out of gas error”: Backtracking 6 months’ reward from every block means writing a “for” clause computing historical states involving over 1.2 million blocks.

How can we simplify vesting schemes and get rid of the highly gas-consuming loop? A compromising approach is computing rewards off-chain and push statistics back periodically ( just like what balancer.exchange did on distributing their $BAL), but the final solution on-chain is xHalfLife: Choosing half-life parameters, distributing rewards that are exponentially decayed on the continuous time span.

The vesting scheme of xHalfLife is strongly inspired by the decay of radioactive particles and the law of drug concentration falling in the blood: their state is only related to the previous moment T0: when the status of the previous moment is A0, the status in the next moment is A0* (1- mu*t), where mu is a parameter directly related to halflife period. The reason why the drug concentration is mentioned is that in order to ensure the adequate effect of the drug, people must take the drug on time repetitively to add up the concentration in the blood, which means status a may be increased from A0 to A0+a at arbitrarily any time, which is consistent with the logic that “DeFi farmers increase their continuous farming rewards at any time”.

“You don’t consider historical state paths”. It is an important feature of exponential distribution (continuously distributed), geometric distribution (discretely distributed), and Markovian random process ( continuous or discrete). Without considering the historical state, XDEX farmers earn rewards vested in xHalfLife vesting protocol to ensure the stability of the total tokenomics, and also get rid of computing on historical states million times on the Ethereum blockchain when they want to extract their earnings.

2.3 Implementation

The parameters of the xHalfLife protocol have 4 parameters: StartBlock, K, ratio, and eps. User’s funds are divided into two accounts: Vested Income and Withdrawable Income.

Any new fund goes directly to Vested Income first. From blockheight at StartBlock, whenever the blockchain height can be divisible by K, if Vested Income exceeds eps, smart contract will transfer the ratio*Vested Income to Withdrawable Income.

The halflife period is estimated as -K / log_2(1-ratio) * 13.1 seconds.

3 xHalfLife: Applications

In the xDeFi&Labs seed round financing process, the team led by the CTO won the championship at Dorahacks&BSC Beijing Hackathon in 2020 with the full implementation of xHalfLife. Founders of xDeFi&Labs continued to share ideas of xHalfLife to the community and investors since XDEX tokens are vested for XDEX farmers, teams, and investors by calling the exact same smart contract with different parameters.

The whole team is also actively seeking opportunities to integrate xHalfLife protocols to IXO platforms to meet different vesting requirements in different financing activities.

The xDeFi’s protocol stack has launched on the Ethereum Kovan testnet on December 15, 2020, and from February 7, 2021, all users have been invited to test and experience Swap, Pool, Farm and HalfLife functional modules with prizes. In order to let more users that played DeFi pay attention to the xDeFi and experience related functions, we specially launched an activity of “Invite friends to follow xDeFi and win massive rewards”.

​Activity time

2021.02.09 15:00 PM- 2021.03.02 15:00 PM (UTC+8)

Activity contents

Activity: Invite friends to follow xDeFi’s community and win massive rewards

Way of participation:

• Log in to https://gleam.io/Lpo4o/xdefi-airdrop-invite-competition;
• Log in to your account via email, discord, facebook, google, twitter;
• Follow the activity rules to complete related tasks such as subscription.

Activity Details

1. Please complete as many task items in sequence as possible, and each item corresponds to the corresponding entries (which can be understood as the competition score). The first 10 tasks are to follow xDeFI’s community channels; the 11th is an invitation reward, through your exclusive invitation link, every time you successfully invite a friend, you can increase 20 entries, unlimited invitations; the last two tasks need to be unlocked at least 8 tasks before they can be unlocked.

2. The top 3 users with the highest accumulated scores will receive special rewards.

Prize Pool:
A total number of 168k XDEX are prepared for the airdrop!

Top 5000 participants will get 30 XDEX (You have to get more than 260 entries to be qualified.)

1st winner: 10000 XDEX

2nd winner: 5000 XDEX

3rd winner: 3000 XDEX

The rewards will be airdropped to the ERC20 wallet submitted by valid users after the competition ends and the project goes live on the mainnet. Please pay attention to the follow-up related award information.

Good luck everyone !！！

ERC-20 standard appeared on Ethereum blockchain in 2016, brought ICO mania in 2017 and De-Fi Cambrian in 2020 to this ecosystem. At the same time period, an unignorable trend was also slowly emerging, which is named Non-fungible Token, become one of the most important complement to ERC-20. It appeared in cat cultivation in Crypto-Kitties, real estate, and household auctions in Decentraland, 3rd party on-chain trading platforms of games like Enjin, and also ENS — Ethereum Name Services ( similar to DNS, Domain Name Service on the Internet). The most important similarity of these applications is that all single token minted are heterogeneous, under the same standard: Technically, tokens share the same interfaces to interact with people or smart contracts, but their internal utility and exterior may be very different.

When we make decisions in the physical world, our allocation of stocks, cash, and cryptocurrencies proportions are continuous, but the demand for specific real estate, luxury cars, yachts, or even private jets is often discrete: The result of the decision is basically a binary decision — which means we only have a choice between 0 and 1. AMM models like Uniswap, the most important innovation on trading ERC-20 tokens, has nearly nothing to do with massive NFT transactions unless you take some compromising approaches. Examples are given by UniSocks and NFTX: Unisocks simulate ERC-721 tokens with ERC-20 tokens through socks redemption, and NFTX directly turn ERC-721 into ERC-20 through its protocols to enhance liquidity just like REITS.

Computer theorists Merkle and Hellman proposed the Knapsack problem in 1978, which keeps the problem still in the discrete world. The problem can be formulated as Given a set of items, each item has its own weight and price. How do we choose goods within the limited total weight in order to pack up the goods with the highest total value? Similar problems often appear in the fields of business, combinatorics, computational complexity theory, cryptography, and applied mathematics. In the physical world, whether they are antique traders or collectors, they will all face a more difficult problem, since different collectors have different preferences on the same set of collections.

2 On Mechanism Design: How Founders of Auctionomics won 2020 Nobel Prize in Economics

On October 12th, Robert B. Wilson and Paul R. Milgrom from Stanford University in the United States shared this honor for “improving auction theory and inventing new auction methods”. The two economists not only designed a “simultaneous multi-round auction”, but also established Auctionomics. In the period from 1994 to 2014, the US government relied on this design to acquire a total of $120B USD from the radio spectrum license auction as fiscal revenue, effectively met the discrete combination requirements from 3 to 4 major mobile ISP for frequency bands that interfere with each other and simultaneously keep the rent close to the optima.

In the book “ Discovering Prices: Auction Design in Markets with Complex Constraints”, the principle of increasing marginal cost and the theory of British auctions and Vickery auctions are particularly impressive. In Uniswap’s model, the continuous British auction of ERC-20 enables a smooth depth for trading. By replacing ERC-20 with NFT, the actual price may fall somewhere between the British auction and the Vickery auction.

3 On NFT Composability Standard: A Simple Exploration

Since 2015, the Ethereum community and Ethereum-based NFT projects have spontaneously explored the concept of NFT, and standards such as ERC-721 and ERC-1155 have been implemented.

The Ethereum community proposed ERC-998 Composable NFTs (Composable NFTs, i.e. cNFT, https://github.com/mattlockyer/composables-998). It is an extension for NFT that allowing any NFT to contain other NFTs or FTs(In ERC-20 format). When transferring cNFT, it means transferring the entire hierarchical structure and ownership of cNFT. For example, ERC-721 in the housing transaction represents the abstract whole of the house, but in fact, a house is a collection of a whole set of things, such as a unique land use right (ERC-721), fish tank (ERC-721), and fish tank In the water (ERC-20). cNFT is a natural extension.

A simplified version of composability standard — ERC1155 is introduced by Enjin, for online game items that are “somewhat homogenous”, batch processing of ERC-721 standard tokens will be easier to operate. Based on the initial design of ENJ, DEGO team also proposed their improved version: ERC908, which consume DEGO token to call contract through interfaces of ERC908 tokens.

Project Hashmask is a bold move in the domain of NFT: It has not brought its own standard to NFT users yet, but it is very hopeful that the properties, the rarity of these properties, the name changing tokens(ERC-20) that NFT contains may form a group of necessary interfaces for NFTs. At the same time, NFTX provides a confidential wrapper smart contract to repack revealed NFTs back to the status of unrevealed: Rethink popular Gatcha culture in Japan, or newly listed $POPMART(HK09992).

4 A Liquidity Design Proposed by xDeFiLabs

After referring to UniSocks, Perpetual Protocol, NFTX, and other projects, xDeFiLabs proposed a demo of the NFT Gatcha first-time auction system based on vAMM:

4.1 Mathematical model:

(vaE+ aE) * (aG+vaG) = C

4.2 Uniswap-style pool setup:

One side is the Ethereum pool, with Etherum amount aE.

There is also a number of virtual Ethereum of amount vaE.

On the other side is the NFT list. The composition of the list is {sold NFTs (wish list)}, and {unsold NFTs}. The length of the list is determined when initialized. {unsold NFTs} amount aG participates in the calculation, and the initial status of {sold NFTs (wish list)} is the empty set.

There is also a vaG parameter, the number of virtual Gatchas.

C is the constant product.

4.3 Bonding Curve

If a pool is initiated in the way that 4.1 and 4.2 proposed, gatcha price will go up (increasing marginal cost). Considering a relatively fair auction, the price of the last Gatcha in the pool will not be too expensive.

4.4 An Example:

Gatcha ask and bid prices will be discrete:

Ask price:

C/(aG+vaG-1)-C/(aG+vaG)

Bid price:

C/(aG+vaG)-C/(aG+vaG+1)

With some initial parameters setup:

1st Gatcha price fp= ~0.25ETH

Highest Gatcha price hp = ~1ETH

Initial aE = 0

Initial aG = 100

Virtual amount parameters will be deducted as:

vaG = sqrt(ep/sp) * Initial aG — Initial aG = 100

vE = (Initial aG +vaG)*fp = 50

C = vaE * (Initial aG +vaG) = 10000

Each time a Gatcha is bough from, or sold back to this pool, ask and bid price will shift accordingly.

4.5 Smart Contract Structure:

A A pool of ETH

B An ordered dictionary of ERC721, which records sold/unsold Gatcha status

C Parameters

D Contract calculating ask/bid logic, refer to Uniswap

E The confidential contracts and necessary random number generators.

F A front-end displaying necessary information.

The long-tail liquidity of the NFT marketplace will be stimulated, instead of an “Art Hype”, this setup is close to the logic of Italian art collectors to trade any possible combination of the collection in their community.

5 Conclusions

After composability has been sufficiently built, art galleries with art wishlists will be assembled to reveal the preferences of collectors, which will also attract more NFT arbitrageurs ( Scientists worked so hard on ERC-20 tokens arbitraging ). The xDeFiLabs team will also continue their exploration on the possibility of multi-round multiple auctions of long-tail NFT assets.

The protocol stack of xDeFi was launched on the Ethereum Kovan testnet on December 15, 2020, and now the user “Rewarded Test to Earn XDEX” activity is officially opened.

All users are invited to test and experience the Swap, Pool and xHalfLife functional modules. During this test, valid users participating in the test can share a token incentive of 100,000 XDEX tokens (excluding bug rewards).

Activity Time

2021.02.07 17:00 PM- 2021.02.21 17:00 PM (UTC+8)

Activity contents

Activity 1 : Experience xDeFi immediately and share 100,000 XDEX

Activity reward : 20 XDEX/person

Reward quota : First-come-first-served, this test will automatically end after the reward is issued.

Way of participation : Get the test coins through the faucet, you can view “How to get Kovan testnet tokens”.

• Log in to https://swap.kovan.xdefi.com ;
• Connect to the Ethereum Kovan test network through the MetaMask wallet ;
• Complete the following operations on xDeFi through the Kovan testnet :

a. Exchange (Swap) ;

b. Add liquidity, remove liquidity ;

c、Farm function；

c. Create stream with xHalfLife.

Activity Details ：2021.02.07 17:00 PM- 2021.02.21 17:00 PM (UTC+8), all users who complete tasks （3 times Swap + 1 time to add liquidity + 1 time to remove liquidity +1 time Farm+1 time to use xHalfLife to create a stream）on the Koven testnet as required will have the opportunity to share event rewards.

Each user can get up to 20 XDEX until the 100,000 tokens are issued. After xDeFi is officially launched on the Ethereum mainnet, the XDEX token rewards on mainnet will be issued to the MetaMask address of each eligible user participating in the testnet activity.

Activity 2 : Find bugs and win rewards

Activity reward : 500 XDEX/ Bug

How to participate : If you find any bugs caused by platform problems during the “Activity 1” testnet experience, you can scan the QR code below to submit the bug description through the questionnaire, and you can also give us feedback on your experience and suggestions. After the xDeFi team confirms the bug as a valid bug, when the mainnet goes online, users who submit valid bugs will be issued 500 XDEX/bug rewards to their reserved Ethereum wallet address.

Activity Details :

a. When multiple users submit the same bug, the user who submitted the bug first will get the bug reward.

b. The same user can submit up to 3 bugs. The user reward is calculated according to the total number of adopted bugs, and each person can accumulate up to 3 times.

c. Users can check the bug adoption status and award status through the follow-up articles of this official account of xDeFi.

​Precautions for this test

• All rewards will be issued to the Ethereum MetaMask account address reserved by the user after the protocols are launched on the Ethereum mainnet.
• Each IP corresponds to only one MetaMask account address, and the account creation time must exceed 6 months. ​If there are multiple addresses, only the valid account with the most rewards will be issued rewards;
• The final interpretation right of this test belongs to the xDeFi team.