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Home All Events LandX “Dress Rehearsal” Testnet Launch

Date

Dec 05 2022
Expired!

TimeUTC

12:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Dec 05 2022
  • Time: 7:00 am

Status

Active

LandX “Dress Rehearsal” Testnet Launch

December 5 update – the launch time has still not been announced, this time is still a placeholder.

LandX bridges the gap between farmland owners and crypto investors by providing tokenized agricultural commodity vaults (‘xTOKENs’), where holders of the staked tokens receives a daily yield of the underlying real-world agriculture commodity in perpetuity.

There is no exact start time for this event, only that is on December 5.

DETAILS
  • Launch Details
    • The dress rehearsal is the final test before mainnet goes live
    • The launch will take place on Ethereum’s Goerli testnet
    • The launch is divided into 2 stages;
      • LNDX testnet token launch – a testnet LNDX/USDC liquidity pool will be set up on Uniswap
      • LandX testnet protocol launch – users will be able to stake LNDX tokens on the platform
    • A testnet faucet will be setup for users to request testnet tokens
    • Prizes will be given to the top 11 traders, based on the percentage return made in the newly minted USDC during the competition. Prizes include; real USDC, LandX swag, Omega role (grants whitelist for mainnet launch)
    • More information can be found here
  • Tokens
    • LNDX – native token of the LandX protocol. LNDX holders receive a share of protocol fees, have governance rights, and LNDX stakers are eligible to become validators for LandX
    • xTOKEN – represents perpetual agriculture commodity vault; e.g. xWHEAT, xRICE, xSOY. An xTOKEN holder receives daily commodity yield (~0.0027 kg/day), which represent 1 kg/year of the underlying commodity. Yield can be claimed anytime in USDC
    • cTOKEN – commodity yield is distributed to xTOKEN stakers in cTOKENS
    • xBASKET – index fund that represents a basket of equally weighted xTOKENS; i.e., 1 xBASKET = 0.25 xWHEAT + 0.25 xRICE + 0.25 xCORN + 0.25 xSOY
    • xUSD – stablecoin backed by XTOKENS via the xBASKET index
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