We would like to introduce the first distribution of Xpool Incentive program. Within 60days, starting from July 12th, 2021, whenever users complete a transaction for lending or borrowing any target tokens on Xpool protocol, they will reward XPO calculated in daily as a formula and a table below:
Here is the step — by — step introduction for joining liquidity incentive:
Way 1: Join as a lender
Step 1: Access to Xpool official website at https://xpool.app/ then connect your wallet to protocol
Step 2: On the menu bar, click Markets section, then choose one of 7 tokens we mentioned on the board.
Step 3: Click [Deposit], enter the amount you want to deposit, click [Approve]
Step 4: Click [Confirm] on your Meta Mask wallet to confirm your transaction.
Noted: If this is your first time using this token you’ll need to perform two transactions. The first is to approve the Xpool smart contract to withdraw your tokens from your wallet and the second is to perform the actual transaction.
Step 5: After confirmation on your Meta Mask, you have successfully deposited the asset to Xpool.
Step 6: On the menu bar, choose Incentive section then you can check your XPO reward from incentive module.
Step 7: Click [Claim], Xpool system will automatically send your reward to Lock pools to optimize your profit. You can check the change in XPO balance on Lock pool for XPO
Way 2: Join as a borrower
Step 1: Access to Xpool official website at https://xpool.app/ then connect your wallet to protocol
Step 2: On the menu bar, click Market section, then choose one of 5 target token we mentioned above, including DAI, USDC, WBNB, BTC, ETH
Note: BUSD and USDT cannot be used as collateral. For more information, you can read our Rick parameters document)
Step 3: Deposit token you want to Xpool protocol
Step 4: After deposit successfully, back to Market section, choose one of 7 tokens on the board to borrow.
Step 5: Click Borrow then enter the amount you would like to borrow, then click [Continue]. The system will show you the health factor index of the loan.
Note: You only can borrow about 75%-80% the value of your collateral, depending on your token you deposit to protocol. For more information, please check: https://docs.xpool.app/xpool/additional-document/risk-parameters
Step 6: You can choose either [Stable Rate] or [Variable Rate] for your loan, then click [Continue].
Step 7: Click [Borrow] and confirm on your Meta Mask wallet to complete the borrow process.
Step 8: On the menu bar, choose Incentive section then you can check your XPO reward from liquidity incentive. Click [Claim], Xpool system will automatically send your reward to Lock pools to optimize your profit. You can check the change in your locked XPO balance on Lock pool for XPO
