Xtake.Finance – A Global DeFi Ecosystem That Simplifies Staking and Passive Income Generation
Cryptocurrencies continue to remain the torch bearers of financial freedom during these uncertain times of the global economy. As a result, Decentralized Finance (DeFi) is seeing a huge demand in the market.
Xtake.Finance is one such global DeFi ecosystem that simplifies the overall staking process for an average investor. Based on the XTK governance token, the Xtake platform provides linear and constant returns to its users. The platform also incorporates key concepts of yield farming or liquidity mining that are crucial for the growth of the DeFi ecosystem.
The Xtake.Finance platform removes the entry barriers for new players in DeFi. Unlike other staking platforms, users DON’T need to invest in expensive hardware or pay for server maintenance for running masternoders.
Besides, the platform also doesn’t require XTK token holders to have specific knowledge with software or hardware to start earning rewards. Xtake.Finance platform also provides flexibility to XTK token holders with no mandatory token deposits or token lockups. From the very first day of their investments, users can trade and sell their tokens without any limitations.
Bringing Universal Blockchain Income to the World
Taking the concept of Universal Basic Income further, Xtake.Finance leverages the power of blockchain to create a transparent and unbreakable system and launch the Universal Blockchain Income.
Cryptocurrencies continue to penetrate the global economy as more and more retail investors are warming to the crypto market. Betting on the bright future of the crypto market, Xtake.Finance seeks to transmit wealth to the XTK holders through monthly transfers.
XTK holders, called xtakers, serves as the source of liquidity providers to the ecosystem. Based on the XTK tokens accumulated the previous month, the taker will receive payment on the first day of every month.
The XTK holders will receive payments directly in the wallet. The xtakers can see the status of their payments in real-times through individual dashboards on the Xtake.Finance platform.
The XTK is an ERC20 token based on the Ethereum blockchain network. The Ethereum blockchain is the most popular platform for DeFi developers to host their applications. The maximum supply of XTK tokens has been capped at 10 billion. The XTK token holders can use some of the Ethereum-compatible wallets like MyEthereWallet and MetMask.
XTK tokens have no maturity periods and generate rewards and profitability from the instant they are in the wallet. The native system of Xtake.Finance platform will calculate the profitability of each investor in real-time.
The Xtake.Finance platform staking rewards anywhere between 5-25% based on the staking quantity. Interestingly, the rewards system uses compound interest that helps investors grow their wealth exponentially. The XTK tokens will be available for purchase on both – centralized and decentralized (DEX) exchanges. The xtakers can increase their stake anytime they want and increase their monthly Universal Blockchain Income (UBI).
UBISWAP – XTake & UNISWAP Yield Farming Program
As said, the Xtake.Finance platform aims at offering maximum flexibility and freedom to xtakers. Thus, the users don’t need to lock their token in Uniswap and can add/remove any time they want. The Xtake platform employs an easy Yield Farming Uniswap program which it calls as UBIswap.
Thus, apart from earning commissions at Uniswap for generating liquidity, xtakers who participate in UBIswap shall be rewarded in XTK tokens. The UBIswap system of Xtake will calculate the daily average of user funds and overall liquidity for each week. Thus, every Sunday, liquidity providers will be directly paid to their ETH addresses with XTK powered by UBIswap. You can learn more about the UBISwap reward program here.
During the first week of the XTK token public sale, the Xtake.Finance received a good response from the community. The platform reached its hard cap of 200 ETH just within 24 hours of the launch. All the ETH raised will be locked in a smart contract and serve as a liquidity provider for the next year.
The Xtake platform developers have submitted their applications for listing on the Coingecko so that users can get the real-time price information of XTK.
The official launch of the UBI engine and the XTK staking platform will happen next week 1st September on wards. The stake.xtake.cash portal will also be available for users in September. This cash portal will offer xtakers an in-depth report on their staking progression. Note that the cash portal will be later migrated to the stake.xtake.finance.
The Xtake.Finance platform will also launch the staking bot by next week and will have similar functionality as seen enabled during the previous XTK bounty campaigns.