Start Your Journey in DeFi with XBE
Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.
Decentralised Finance (DeFi) is an entire ecosystem of decentralised applications and protocols that offer users financial services, in a much more cost-effective and decentralised manner. Whilst there are new protocols and apps launching daily, many attribute the roots of DeFi to MakerDAO, a protocol that allows you to deposit Ether and borrow the DAI US Dollar pegged stable coin against it.
Since this there've been many innovations in the space, from decentralised exchanges to lending platforms and synthetic assets, DeFi apps and protocols are using smart contracts in a way to revolutionize the future of finance.
One of the most promising elements of this finance evolution is the access it provides to the person on the street to earn more rewards on their liquidity. This is made possible primarily due to the scale of DeFi and the reduced costs through the removal of intermediaries.
With so many options when it comes to DeFi, where does one start?
Introducing the XBE protocol
XBE is a protocol created to bridge the gap between everyday users, DeFi, and traditional finance. Users with limited understanding of DeFi or traditional finance, are being offered the means to access yield enhancement strategies (XB Hive) and get the opportunity to earn additional rewards on their liquidity, and do so as easily as possible - such as a one step start that only requires a user to have Ethereum in their wallet to use the EasyXBE app.
XB Hive offers a complementary Convex and Curve-based yield solution that is easy to access and optimizes the biggest rewards in DeFi. This means the same great strategies that best in class DeFi protocols, Convex and Curve uses, are utilized by the XB Hive to offer smarter rewards to participants.
What’s more, in addition to the rewards offered by Convex and Curve, you will be earning XBE rewards as well, giving users of the XBE protocol access to some of the higher yields in DeFi. The XB Hive has also collaborated with regulatory-compliant FIAT partners to ensure that users can onboard their liquidity from the FIAT world in a compliant and transparent manner, and provides a unique on-chain referral program that allow users to earn rewards together with any new user that they bring into the protocol - even if they don’t have their own liquidity to start with - something that will help reward the important work influencers and DeFi believers do in supporting new protocols.
The XBE token, an Ethereum based ERC-20 token, was distributed freely and fairly to community members with no founder or investor allocations as a governance token during the initial liquidity event in February 2021. XBE supply is limited and with the current emission schedule will reach 40 000 tokens in circulating supply by September 2023.
The XBE protocol generates daily reward emissions that are used to support the respective protocol services that in turn help the protocol grow - from attracting liquidity, to earning protocol income, and incentivizing partnerships.
Holders of the XBE token can stake their XBE (deploy it into a smart contract) to receive their share of the protocol revenues, and optionally time lock their tokens for up to two years, to increase the rate at which they earn rewards - in effect earning a greater share of the protocol rewards per token the longer a token is time locked - and also amplifying their voting rights within the XBE governance framework at the same time.
The XBE protocol also awards XBE rewards to those that provide liquidity in the XBE/ETH SushiSwap liquidity pools. Providing liquidity ensures that new members can enter the protocol with ease, and normally requires a user to have both the Ether and XBE to participate - so they can receive rewards as well as a portion of the transaction fees whenever a swap takes place on SushiSwap.
The EasyXBE app makes this process even simpler, helping new users that only have ETH in their wallets to automatically swap the right amount for XBE and then commit both XBE and ETH to the pool on their behalf - even staking their Liquidity Provider(LP) tokens to start earning rewards - literally all in one transaction.
As mentioned before, the XB Hive is about to be released - and will be the first of a number of highly anticipated XBE protocol products scheduled for Q4 this year that generate protocol revenues.
Want to get started?
Get your XBE tokens today and join us on our journey to bring the power of DeFi to the world, or get more out of your Ethereum based tokens and start earning XBE rewards with EasyXBE in the current SushiSwap liquidity pool!
And don’t forget to connect with us on our socials so you don’t miss out on the exciting XB Hive launch coming soon!
Or join or telegram community at : https://t.me/xbefinance