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Home All Events - Ape O'Clock Fenix Protocol Polygon Launch


Apr 29 2023


5:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Apr 29 2023
  • Time: 1:00 pm



Fenix Protocol Polygon Launch

Launch of a XEN burning protocol on Polygon.

  • Launch Details
    • Currently on testnet, mainnet will be live at launch
    • Users deposit and burn XEN (mXEN on Polygon) to mint native $FENIX, at a rate of 10,000 mXEN = 1 FENIX
    • All deposited mXEN is burnt
    • Only liquid mXEN can be deposited and burned. mXEN that has not completed a claim term, staked mXEN, 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;
      • Ethereum (May 13)
      • BSC (May 20)
      • Avalanche / EthereumPOW / Moonbeam / EVMOS Fantom / DogeChain / OKChain (May 27)
    • No information on when $FENIX trading will be available
Links & Resources
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