Fenix Protocol Polygon Launch

Launch of a XEN burning protocol on Polygon.

DETAILS

• 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