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Home All Events XCrosschain Boardroom Launch

Date

Jul 01 2022
Expired!

TimePacific Time

6:00 pm

Your Time

  • Timezone: America/New_York
  • Date: Jul 01 2022
  • Time: 9:00 pm

Status

Abandoned

XCrosschain Boardroom Launch

July 1 update – the team announced today they are dissolving the project, due to extremely low (4 figure) TVLs. There appears to be no complaint from the investors.

New tomb fork + node hybrid multi-chain launch on Fantom, Avalanche, Polygon and BSC.

Docs not published at time of review. Information was retrieved from reviewing deployed contracts and confirmed with the team on Discord.

DETAILS
  • Boardroom
    • Stake $XSHARE in the boardroom to earn $XROSS rewards
    • During expansion, newly minted $XROSS rewards are distributed on each chain, as follows;
      • 80% – Rewards for Boardroom stakers
      • 15% – Treasury Fund
      • 5% – Dev Fund
    • Boardroom will not mint $XROSS tokens while time weighted average price; TWAP < 1.01
    • 6-epochs lockup (6 hours/epoch) on staked $XSHARE. Timer resets on every stake and rewards claim
    • 3-epochs lockup (6 hours/epoch) on $XROSS rewards. Timer resets on every rewards claim and stake
    • 65% of newly minted $XROSS during debt phase is allocated to the Treasury Fund to prepare for $XBOND Redemption
    • $XBOND will be available for purchase when $XROSS falls below peg
  • Tokens
    • $XROSS is the algo-stable, pegged to 0.1 USDC on Fantom, Avalanche, Polygon and BSC chains, with an initial supply of 20,050 on each chain; allocated as follows:
      • 20,000 – Genesis Pool Rewards
      • 50 – Pre-minted for Initial Liquidity
    • $XSHARE is the shares token, with a total supply of 70,000 on each chain; allocated as follows:
      • 60,000 – Farm & Node Rewards (vested linearly over 6 months)
      • 6,000 – Community Fund (vested linearly over 6 months)
      • 3,995 – Dev Fund (vested linearly over 6 months)
      • 5 – Pre-minted for Initial liquidity
    • $XBOND is the bond token
  • Token ownership renounced for $XROSS and $XSHARE contracts on all chains
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