- Timezone: America/New_York
- Date: May 13 2023
- Time: 1:00 pm
Fenix Protocol Ethereum Launch
May 12 update – the team has still not announced a launch time. Combot is still saying it launched May 13, but there have been no social posts hyping up the Ethereum launch. This time remains a placeholder.
Launch of a XEN burning protocol on Ethereum.
The launch time has not been announced only that it is on May 13. This time is a placeholder but has been set based on the time of the previous launch on Polygon.
- Launch Details
- Deposit and burn XEN to mint native $FENIX, at a rate of 10,000 XEN = 1 FENIX
- All deposited XEN is burnt
- Only liquid XEN can be deposited and burned. mXEN that has not completed a claim term, staked XEN, or XENfts are not eligible
- mXEN can be minted directly on the XEN website, or purchased on a DEX (Uniswap)
- $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;
- BSC (May 20)
- Avalanche / EthereumPOW / Moonbeam / EVMOS Fantom / DogeChain / OKChain (May 27)
- No information on when $FENIX trading will be available