Fenix Protocol Multichain Launch
Launch of a XEN burning protocol on Avalanche / EthereumPOW / Moonbeam / EVMOS Fantom / DogeChain / OKChain.
The launch time has not been announced only that it is on May 27. 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. bXEN that has not completed a claim term, staked XEN, or XENfts are not eligible
- XEN can be minted directly on the XEN website, or purchased on a DEX
- $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
- No information on when $FENIX trading will be available