Fenix Protocol BSC Launch

May 19 update – the team says it will launch on the 20th, but the time is not confirmed. They think it might be 9:30am Pacific time (4:30pm UTC). Check with the team to see if they’ve confirmed.

Launch of a XEN burning protocol on BSC.

The launch time has not been announced only that it is on May 20. This time is a placeholder but has been set based on the time of the previous launch on Polygon.

DETAILS

• Launch Details
  • Deposit and burn XEN (bXEN on BSC) to mint native $FENIX, at a rate of 10,000 bXEN = 1 FENIX
  • All deposited bXEN is burnt
  • Only liquid bXEN can be deposited and burned. bXEN that has not completed a claim term, staked bXEN, or XENfts are not eligible
  • bXEN can be minted directly on the XEN website, or purchased on a DEX (Pancakeswap)
  • $FENIX rewards can be claimed after a 3-week cooldown
  • $FENIX earned can be staked between 1 – 7,777 days, to receive shares that can be redeemed for $FENIX at the end of the stake period
  • A stake will typically end even when approximately 71% of your stake term is completed
  • Early unstake penalty applies if you unstake before the staking period ends – taxed $FENIX is re-distributed to stakers
  • $FENIX supply is uncapped with a fixed inflation rate of 1.61% a year
  • FENIX will also launch on other chains including;
    • Avalanche / EthereumPOW / Moonbeam / EVMOS Fantom / DogeChain / OKChain (May 27)
  • No information on when $FENIX trading will be available