Whether you are new to crypto or an enthusiast, using Xion.Finance is an easy way to start earning a passive income and spending your Xion Global Token(XGT) rewards on everyday products. The cross-chain token called XGT was born on the xDAI chain and can be used for yield farming, processing e-commerce payments, minting rewards and simple value transfers. In conjunction with Xion Global, XGT will soon be used as a payment and cashback rewards token.
Easily earn up to 41% annual percentage yield on your DAI stablecoin cryptocurrency(1 DAI = 1 USD). We've connected to one of the top protocols in the industry(Compound Protocol), to allow you to earn interest on your DAI and generate Xion Global Tokens(XGT) rewards as an additional incentive. All interest earned in DAI is on the Ethereum Mainnet, whereas any XGT rewards earned is on the inexpensive xDAI chain. When you deposit your DAI, you will receive cDAI tokens that represents your deposit + any accrued interest.
Here is an example:
Let’s say you supply 1,000 DAI to Xion.Finance on the Earn page, when the exchange rate is 0.020070; you would receive 49,825.61 cDAI (1,000/0.020070).
A few months later, you decide it’s time to withdraw your DAI from the protocol; the exchange rate is now 0.021591:
Your 49,825.61 cDAI is now equal to 1,075.78 DAI (49,825.61 * 0.021591)
You could withdraw 1,075.78 DAI, which would redeem all 49,825.61 cDAI
Or, you could withdraw a portion, such as your original 1,000 DAI, which would redeem 46,315.59 cDAI (keeping 3,510.01 cDAI in your wallet)
Now that's how you earn interest on your DAI, but as a bonus you will earn XGT rewards every 5 seconds. If you wish to claim your XGT rewards earned over time, simply head to the Withdraw page and select "XGT Rewards" to transfer your XGT into your connected wallet. Your rewards can be claimed at anytime.
In the coming months, we will be connecting to a new lending protocol on the xDAI chain to severely reduce transaction/gas fees to less than $0.001 for earning interest on your xDAI.
Time to become a liquidity provider(LP) or otherwise known as a Farmer. Where you can earn up to 140% APY(Annual Percentage Yield) on your xDAI and XGT crypto. Where transaction(gas) fees are less than $0.001 and takes only <5 seconds for a transaction to be completed. Unlike Ethereum mainnet gas fees that cost up to $100 or more. An LP would simply add 50% xDAI and 50% XGT of his crypto holdings into the xDAI/XGT pool and in return earn fees + rewards. You can think of a liquidity pool as a big pile of funds that traders can trade against and in return for providing liquidity, you will earn fees from the trades that happen in the xDAI/XGT pool + rewards.
Here is an example:
Bob wants to deposit his $100 worth of xDAI and $100 worth of XGT
He connects his Torus wallet and scrolls to the heading "Start Farming with xDAI"
Enters in 100 xDAI and clicks "USE YOUR XGT" to add his $100 worth of XGT
Clicks "Start Farming" & approves 2 transactions to add his funds to the pool
He receives liquidity pool tokens called UNI-V2, that now represents his deposit + any accrued trading fees. This is displayed in a USD amount under "Earnings Balance"
Every time a trader swaps xDAI <> XGT, they pay a 0.3% fee. This fee is immediately distributed amongst all the liquidity providers in the pool, including Bob. Depending on how much he deposited, is what percentage of fees he will earn
As a bonus Bob will also earn XGT rewards every 5 seconds in return for providing liquidity
We make use of AMMs(Automated Market Makers) known as Honeyswap and Uniswap. An AMM works similarly to an order book exchange in that there are trading pairs – for example, xDAI/XGT. However, you don’t need to have a counterparty (another trader) on the other side to make a trade. Instead, you interact with a smart contract(liquidity pool) that “makes” the market for you.
This is where the magic happens. Purchase products with XGT, get up to 100% cashback in XGT and use XGT to receive compounded discounts off your subscriptions(Loyalty program). This is all possible through our decentralized payment & rewards gateway, where merchants can accept Visa, MasterCard, crypto payments and reward their loyal customers.
Cashback: Purchasing a product or service with a credit card or xDAI/DAI crypto, will get you up to 100% cashback in XGT. However, this is limited to how much liquidity we have unlocked for each cashback rewards level.
Example: once we reach $2.5M USD of total value locked(liquidity), then the first 20 000 people can purchase a product of their choice and get up to 100% cashback in XGT.
These are the 5 levels of 100% cashback in XGT rewards:
Amount of Shoppers
Once all 5 levels of 100% cashback rewards have been issued, then the next set of cashback rewards will be made available.
Please note: earning interest(cDAI) is not related to farming. Adding liquidity to the farming pool/s(UNI-V2) will only increase the amount of liquidity to unlock cashback rewards. XGT will also not be minted but simply put into circulation from the allocated supply, to issue cashback rewards.
Shopping & Locking XGT:
So you've got XGT from either cashback rewards, providing liquidity or just happened to buy some XGT for speculation.
Time to use that XGT and purchase any product, service or subscription offered by our Xion Merchants. Every time you purchase a product with XGT, 1% of that XGT will be locked(duration of the liquidity pools) before its sent to the merchant. This is to encourage healthy market dynamics and demand for XGT as a form of payment. So if you are a merchant, make sure to increase your profit margin by 1% to cater for XGT tokens being locked.
Subscription Loyalty Program:
Ever heard of compounding subscription discounts? This is where you can get a % of discounts off every recurring billing payment that compounds every billing period. However, this is only possible if you hold a certain amount of XGT, since every discount requires XGT as payment.
There are 6 discount levels. The more XGT you hold, the bigger the discounts will be off every recurring billing payment. Every time your subscription payment goes off, you will be charged a certain amount of XGT to get this discount. So make sure you always have enough XGT to continuously get compounded subscription discounts.
Total AVG. Discount
over 12 months
Cost in XGT Per Month
Alice holds 60 XGT & decides to purchase a $25 monthly box subscription with her credit card
Her second billing period goes off & she receives her first 0.5% discount, because the merchant automatically deducted 5 XGT for a 0.5% discount
It is now her 12th subscription payment and she is getting an average of 8.4% discount for every payment moving forward - why, because that 0.5% discount compounded every month(billing period)
Withdraw your cDAI, UNI-V2 or claimable XGT rewards at anytime you want. Simply head to the "Withdraw" page, select what you would like to withdraw into your connected wallet, approve the transactions and voila.
Interest Shares: These are your cDAI tokens that represent your DAI deposit + accrued interest. ETH is required for high gas fees, since your deposit and interest will be withdrawn into your connected wallet on the Ethereum Mainnet. You can withdraw any amount, at any time.
Farming Shares: These are your UNI-V2 LP tokens that represent your xDAI and XGT deposit + accrued trading fees. xDAI is required for less than $0.001 gas fees, since your deposit and trading fees will be withdrawn into your connected wallet, on the xDAI chain. You can withdraw any amount, at any time.
XGT Rewards: These are your claimable XGT rewards that have been rewarded to you, in return for being a liquidity provider. It is a combination of rewards generated every 5 seconds from your DAI liquidity and/or your xDAI + XGT liquidity. xDAI is required for less than $0.001 gas fees, to claim/withdraw your XGT rewards into your connected wallet, on the xDAI chain. You can claim any amount, at any time.
Bank Account: Head to Mt Pelerin to sell your xDAI or DAI crypto. You can either connect your external crypto wallet or send your xDAI/DAI to your Mt Pelerin wallet to withdraw your crypto into your bank account.
NFTs for our Farmers: Besides earning trading fees and rewards when farming XGT, you get NFTs(Non Fungible Tokens) for being a loyal liquidity provider. You need to farm for at least 1 month to automatically receive a POAP NFT, that can be used for redeeming products and/or discounts from Xion merchants in the near future.
NFT reforestation Farm: Now you've got LP tokens from being a liquidity provider, so why not boost your APY by 20% by adding(staking) them in the NFT reforestation farm in Unifty. Not only can you boost your APY for 1 month but earn points to redeem/purchase an NFT. On redemption, up to 20,000 trees will be planted in communities affected by deforestation. The amount of trees planted depends on what NFT you own and being an owner means you'll also get up to 200% APY for 24 months. The goal is 100,000 trees to create sustainable livelihoods in Tanzania & Haiti. Available on OpenSea, Rarible & Unifty.
🧑🌾NFTs for our Farmers 🧑🚀- https://xionglobal.medium.com/nfts-for-our-farmers-41a2994a48ea
Once our decentralized payment and rewards gateway is ready, we will also be including NFTs that will represent your ownership and authenticity of each product, service or subscription you purchase. - coming soon
Create or connect your Torus wallet by clicking "Get Started" at the top right of any page on Xion Finance. Torus allows you to login with any social media account, email address or phone number to easily manage your funds on the go. It's available on desktop and mobile, and allows a "One-Click to DeFi" experience since it only takes 1-click to login with your example Google account. Alternatively, use MetaMask, WalletConnect or your Authereum wallet.
If you using MetaMask then use this guide to add your custom RPC for the xDAI chain -https://www.xdaichain.com/for-users/wallets/metamask/metamask-setup
Note: Trust Wallet is not supported by the xDAI chain yet.
Got any questions, join our telegram group and our tech support will assist you. It's also jammed packed with fun Trivia's and games to win some XGT every week!
Telegram - https://t.me/xionglobal
Discord - https://discord.gg/zCZKNWSt
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