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