Prior to soft launch we need to wrap up some housekeeping to focus community pool liquidity on our new pools, read more about it here.
Right now we are all focussed on the XBE soft launch and we want to prepare the community and liquidity providers so that they can get their plans in place accordingly:
XBE Staking and Lockup
The only liquidity pool to be incentivised during Phase 1 will be the brand new XBE/ETH pool on Sushiswap. The current community USDT based pools on Uni and Sushi will not be incentivized, as XBE moves to an ETH valuation basis. We therefore encourage our current liquidity providers to prepare to head over to the new pool on SushiSwap:
We will give at least a full 24 hours warning before rewards start for liquidity on this pool to make sure everyone has a fair chance to get ready, and this is not that notice!
With the new pool it is expected that liquidity providers will be removing liquidity from the USDT pools in anticipation of the rewards, so no reason to worry if you see those changes. We’ve been able to coordinate with some of the larger LPs already and are glad that they are committed to moving over to the new pool for launch!
We will be releasing a range of guides on this within the next few days.
xbNFT Factory Movements
Whilst launch is ongoing we are keeping up work on the xbNFT Factory product and will kick off the process to reissue the current bond tokens as ERC1155 EBND NFTs to accommodate face-value and security seniority restructuring. This will initially happen in small tranches as there will potentially be more than one minting iteration as we put different features to the test. Some of these involve even stricter requirements on the security side to manage tokenholder rights, which may require a “test and try” approach before all parties are satisfied! Since we’ve been talking about the new xbNFT factory for some time, please be sure to go through our previous posts about it for more information.
In order to discourage new purchases of the EURxb during this process, the liquidity providers to the USDT/EURxb pool will also be removing liquidity. Based on the protocol rules, for us to burn the current EBND NFTs we need to recover the commensurate EURxb from the market (which predominantly is happening via OTC) – however for those who miss out on the OTC process the founders have setup an XBE/EURxb pool that we will stay open in future to ensure any current EURxb holders are able to trade during and after the migration process.
New Product Info Soon (Phase 2!)
Phase 2 development has been going well, so we are getting ready to share the details on the new XBE Hive soon. This product compliments and solidifies our commitment to DeFi, Tokenised Securities, FIAT on/off ramps and yield complementary products.
In the time between the imminent soft launch and Phase 2, long time hodlers has a chance to get familiar with the emissions and rewards process of Phase 1 staking and claiming, so be sure to take advantage of the time prior to marketing kicking off for Phase 2 launch of the Hive!
You won’t want to miss out on this very exciting launch, as it will also see the referral model activate that will give all our early community members an advantage when marketing starts! The referral model will directly impact influencers, partners and community members looking to take advantage of our unique and innovation referral model!