XBE Finance amplifies yield on $12bn Curve and Convex Liquidity – CryptoMode
Curve.fi and Convex finance fundamentally changed the way the return mechanisms of decentralized finance work by offering great rewards to liquidity providers on stablecoins and other tokens – with around $ 12 billion in total value. blocked (TVL). This is why XBE.finance has chosen to develop its products using both Curve.fi and Convex Finance as the basis of its protocol.
The XB Hive product takes this concept of top-up performance a step further to further enhance rewards. All a user needs to do is commit their Curve Liquidity Provider tokens to the XB Hive, and they will add their own token rewards (in the form of the XBE token) on top of what Convex and Curve already offer – boosting the yield of any liquidity curve brought into play in the XB hive at some of the highest levels for users around!
XB beehive facilitates yield for more users
Beyond the rewards in XBE (the Ethereum governance token of the XB protocol), the Hive complements these excellent protocols by adding new features and tools for users to earn and dive into DeFi!
- The first of these is chain referral rewards – creating new income opportunities for users even if they don’t have cash of their own. Referring a new user will generate up to 10% rewards for you on the referred liquidity, so you can earn rewards with the users you refer. Note that referral rewards are generated as an additional reward in CVX, CRV, and XBE by the protocol and are never deducted from a user’s liquidity. This means you can create a steady stream of additional passive referral rewards just by introducing users to the XB Hive!
- The second is a service called EasyXBE which makes it very easy for users to start their performance journey! All you need is ETH in a Metamask Wallet and you can start earning with just one trade! For now, EasyXBE is helping users win in the protocol XBE / ETH pool on SushiSwap, and will add the Curve pools supported as part of Hive!
- The third service allows users to easily convert their FIAT into DeFi liquidity (and return when they need it) through regulatory-compliant partnerships with authorized financial institutions. Users can transact instantly with a credit card or use SEPA or SWIFT wire transfers to fund a free IBAN numbered EURO bank account in their name and use those balances to pay. In turn, they can resell their DeFi cash for Euros through the same service and then transfer FIAT through SEPA or SWIFT to other traditional bank accounts in authorized jurisdictions around the world.
So what is the XB protocol?
The XB protocol was launched to bridge the gap between everyday users, DeFi and traditional finance through the benefits of an âintegrated financeâ approach. Optimizing performance rewards on user’s DeFi, FIAT and traditional securities liquidity through the XB hive is an important step that underpins the protocol’s commitment to regulatory compliance when engaging with the worlds. FIAT and traditional finance, while respecting the confidentiality and self-sovereignty that make DeFi so exciting.
The XBE token (ERC20) was distributed freely and fairly to community members without a founder or investor allocation to allow governance of the protocol during an initial liquidity event. Supply is limited and with the current issuance schedule it will reach 40,000 tokens as a maximum supply by September 2023.
The protocol generates daily broadcasts of XBE token rewards which are used to support the respective services that develop the protocol – helping to attract cash, earn protocol revenue, and encourage partnerships.
XB protocol plans for Layer 2 networks
It’s no secret that high gas fees make it difficult to conduct small transactions profitably on Ethereum, and the XB protocol is no exception to this, which is why plans to expand to networks of Layer 2 like Fantom, Polygon and Binance Smart Chain (among others) are well advanced and will be performing one after another after the launch of XB Hive!
The Hive was designed to be able to offer the same reward amplifications and ease of use features that it adds to Curve and Convex on the Ethereum network for major protocols on every Layer 2 network it is launched on!
To kick off the first Layer 2 network launch plan, the protocol will soon take a snapshot on the Ethereum network to drop a proportion of new tokens to veXBE holders (users who have locked their XBE). Users can also expect new introductory liquidity incentives!
Do not forget to follow our social networks so as not to miss the launch of XB Hive or the next Layer 2! You can find them on the XBE.finance site or consult the XB protocol roadmap on the “It’s XBE“Blog!
You can get started with XBE today!
You can go to EasyXBE today to redeem the XBE token, wager or lock in XBE, or enjoy the XBE rewards on the SushiSwap pool while we all look forward to the imminent launch of XB Hive!
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