#TokenMining Archives - Smart Liquidity Research https://smartliquidity.info/tag/tokenmining/ Crypto News & Data Space Sat, 08 Oct 2022 08:54:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 https://smartliquidity.info/wp-content/uploads/2021/03/cropped-512-1-1-32x32.png #TokenMining Archives - Smart Liquidity Research https://smartliquidity.info/tag/tokenmining/ 32 32 XY Finance Token Mining #10 https://smartliquidity.info/2022/10/08/xy-finance-token-mining-10/ Sat, 08 Oct 2022 08:54:19 +0000 https://smartliquidity.info/?p=80473 XY Finance Token Mining #10 They are thriving to be a community-driven project. To reward the DAO members, they have decided to launch the tenth DAO token mining program. Let’s dive into the details of the XY Finance Token Mining #10. XY Token Mining #10 Key Information Where to Lock XY: XY Token Mining is […]

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]]> XY Finance Token Mining #10

They are thriving to be a community-driven project. To reward the DAO members, they have decided to launch the tenth DAO token mining program. Let’s dive into the details of the XY Finance Token Mining #10.

XY Token Mining #10 Key Information

  • Where to Lock XY: XY Token Mining is available at https://app.xy.finance/dao
  • Campaign Period: 2022/10/05 08:00 UTC — 2022/11/09 08:00 UTC
  • Rewards: 15,000 XY Tokens
  • Reward Calculation Mechanism: The rewards will be calculated based on the total number of veXY on supported chains. Your share is weighed by your veXY, which will be recorded in the snapshot at a random time each day.
  • Claimable Rewards: After closing the mining campaign, we will announce the final XY rewards of each DAO member and the details of how to claim your rewards.

XY Token Mining #10 Tips & Tricks

  • When locking your tokens, you can choose the length of the lockup period, ranging from 1 to 104 weeks. Note that the setting of XY lockup is to reward long-term committed DAO members. Lock more XY Tokens in the XY Token mining pool with a longer lockup period, you will receive a higher share from the pool.
  • Each XY DAO is independent of the other. XYers can decide to lock a preferred amount of XY Token with a proper lockup period in each XY DAO. Also, when you lock XY Tokens on one of the supported chains (Ethereum, BNB, Polygon or Fantom), you can claim the rewards on the same chain only.
  • When you lock XY Tokens in XY DAO on one of the supported chains, you can claim the rewards on the same chain only.

How to Lock Your XY Tokens

The first thing you need to do is enter our DAO page. Here, we use Ethereum-based XY DAO as an example.

⓵ Connect your wallet

⓶ Pick your preferred amount of XY Tokens you want to lockup

⓷ Pick your preferred lockup period

As mentioned previously, you can choose between 1 to 104 weeks for the lockup period. A longer lock duration can increase your token rewards and APY boost rate.

⓸ Approve

Please note the “Approval to Lock XY” is set to tacitly approve the limited quota to maximize the security for our DAO members! If you decide to lock 100 XY Tokens for the first time and want to lock more XY Tokens in the near future, you will have to authorize approval again.

To avoid repeated requests for approval, you can click “Edit Permission” to customize your spend limit and enter a proper max spend limit.

⓹ Lock XY

After confirming the transaction, continue by clicking the “Lock XY” button as shown below. The details of your locked XY Tokens will pop up.

⓺ Confirm the transaction

You will need to sign the transaction in your wallet once again.

After confirming your transaction, please wait patiently for your transaction to be processed as transaction times on the Ethereum blockchain depend on current network congestion and how much gas was supplied to the transaction.

⓻ Congrats & welcome to XY Finance family!

Once the transaction is confirmed on the Ethereum blockchain, your tokens are officially locked and you are officially a member of the XY DAO!

Please note XY Token stakers won’t actually receive the veXY in their wallet after the successful locking. Our smart contract will record your voting power, known as veXY, and it will calculate your voting power based on our formula written in the smart contract.

They are excited to welcome each one of you into the XY Finance family. Locking your XY Tokens proves your long-term commitment to our project and we appreciate that support greatly.

How to Extend Lockup Period of Your Locked XY Tokens

⓵ Click the “Extend Date” button

⓶ Select your desired time frame

Between 1 to 104 weeks for the lockup period

⓷ Click the “Enhance Power” button

⓸ Confirm the transaction from your wallet

⓹ You extended the lockup period of your XY Token!

You can repeat the above steps to extend the lockup duration as you wish.

How to Lock More XY Tokens

⓵ Click the “Add Locked Amount” button

⓶ Enter the amount of XY Tokens you want to add

Please note the lockup duration of the newly-locked XY Tokens will be the same as the previous lockup duration you agreed to.

⓷ Click the “Enhance Power” button

⓸ Confirm the transaction from your wallet

⓹ You locked more XY Tokens!
You can repeat the above steps to lock more XY Tokens to increase your veXY, further increasing your voting power within the XY DAO.

Please note if your XY Tokens have been unlocked, you will need to claim these tokens before you can lock a new batch of XY. Welcome to the XY DAO family! If you have any further inquires, you are welcome to contact us on Telegram or Discord, the team is more than happy to assist you!

About XY Finance

XY Finance a cross-chain interoperability protocol aggregating DEXs & Bridges. With the ultimate routing across multi-chains, borderless and seamless swapping is just one click away.

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