Bitcoin News and Finance
Defi Venture XFai Reveals Liquidity Generation Event, Project Backed by Angel Investor Roger Ver Skip to main content

Defi Venture XFai Reveals Liquidity Generation Event, Project Backed by Angel Investor Roger Ver

Defi Venture Xfai Reveals Liquidity Generation Event, Project Backed by Angel Investor Roger Ver

Decentralized finance (defi) has seen extreme demand and innovative use-cases during the last 12 months. Defi oracles, decentralized exchange (dex) platforms and automated money makers (AMM) have swelled in value, as statistics show over $43 billion is locked into defi protocols today. Meanwhile, a new project has recently stepped out of the gate called XFai, a dex liquidity oracle that aims to capture untapped liquidity from small to medium cap tokens. On April 8, 2021, XFai plans to host a Liquidity Generation Event (LGE), and this week it was announced that Bitcoin.com’s founder and angel investor Roger Ver has invested in XFai.

XFai’s Dex Liquidity Oracle Aims to Empower Decentralized Finance and Capture Untapped Liquidity

Defi concepts and decentralized exchanges are all the rage these days, and a great number of dex platforms have outperformed their centralized exchange (cex) counterparts. Today, data shows the total value locked (TVL) into defi is over $43 billion, and dex protocols like Uniswap, Sushiswap, and Curve.fi are seeing significant trade volume. Statistics show that $1.7 billion was swapped on dex platforms in the last 24 hours, and $12 billion traded during the last seven days.

Now there’s a new defi project on the horizon called XFai that’s planning to launch in the near future. The protocol leverages its unique Dex Liquidity Oracle (DLO) for small to medium cap tokens. XFai’s goal is to develop tools by graphing the defi space and release game-changing decentralized products.

Defi Venture XFai Reveals Liquidity Generation Event, Project Backed by Angel Investor Roger Ver

The project has published a comprehensive white paper that provides XFai’s documentation and insight into the protocol design. The team is launching a native coin called the XFIT token and the project’s Dex Liquidity Oracle, or DLO for short, aims to be a game-changer. The DLO tech can help low-capitalized tokens gather attention and significantly increase token liquidity.

“XFai’s cutting-edge technologies such as the Potentializer and the DLO (Dex Liquidity Oracle) allows small and mid-cap token holders to join a large liquidity pool that charts centralized exchanges, and provides the same – if not more optimized – liquidity depth in decentralized exchanges,” the XFai developers explained to Bitcoin.com’s newsdesk.

Furthermore, the team detailed that XFai has enabled an anti-slippage tool to ensure that traders can freely complete transactions without being trapped, while removing the need for automated market makers (AMM).

XFai’s DLO description explains:

To encourage more users to participate in liquidity provision, XFai has developed a one-step liquidity addition method, dramatically reducing the hassle and the gas fees involved with liquidity farming. In return, liquidity providers can earn protected APY.

Roger Ver Backs XFai for the future of Defi infrastructure

The vast number of defi projects in the space today focus solely on the top tier of the tokens by market cap, and centralized exchanges operate in the same manner. XFai’s team hopes to open more doors for tokens with small to medium caps and offer them a “seat at the defi table.” The project has already attracted a number of investors including venture funds, and more recently Bitcoin.com’s founder and angel investor Roger Ver has decided to back the XFai project.

“XFai stood out to me due to the potential of their oracle to unlock incredible opportunities in the blockchain space,” Ver said speaking about the investment. “XFai enables actual decentralization by allowing small and mid-cap tokens to finally have a seat at the table. I look forward to watching XFai become a game-changer in the defi space by providing a solid foundation for future projects to build upon,” the Bitcoin.com founder added.

Defi Venture XFai Reveals Liquidity Generation Event, Project Backed by Angel Investor Roger Ver

Ver is one of the earliest investors in the bitcoin space, and has been promoting blockchain technology for well over a decade. The undisclosed investment into XFai stems from Ver’s personal investment arm. The XFai LGE is set to go live on Thursday, April 8 and the team stressed that it was “designed with feasibility and simplicity in mind.” Bitcoin.com readers can check out more information about this defi concept via the project’s website, Telegram channel, social media feeds, and interested developers can look at the project’s Github repository.

“We invite everyone to join XFai in making defi more accessible, open, and economically empowering, starting with the XFai LGE,” the XFai creators conclude. “The [XFai LGE] user interface is intuitively laid out, while the involved operations are combined into one single click. We believe this will result in the opportunity for even those who have never participated in liquidity mining to join in a stress-free manner, and reap the benefits of high APY and the explosive potential of XFIT.”

What do you think about the XFai project and its attempt to make defi more accessible? Let us know what you think about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory