XEND Syrup Pool
PancakeSwap announced the XEND pool on May 20th, detailing the staking process, block start and end time, and the rewards for CAKE stakes for XEND rewards. XEND Finance, the first Africa-based Binance Smart Chain (BSC) protocol, provides its users with earning opportunities via staking and its saving and investing program. The blockchain-based platform provides access to stable cryptocurrencies and DeFi for traditional credit unions.
The Earnings
Stake CAKE tokens to earn XEND tokens, based on this distributionschedule.
Total Tokens: 550,000 XEND
Distribution duration: 60 days
Start block: 7595200 (approx. 7 am UTC on May 21st)
Finish block: 9323200 (approx. 7 am UTC July 20th)
Token rewards per block: 0.31828 XEND
Farm and Vote Update
There is usually a vote that allows users to dictate specific syrup pool actions, including rewards and emissions. But that will not be the case for XEND Syrup Pool; this is due to an issue with the vote nodes, according to the PancakeSwap team. The team asks that users should trust their decisions this time, promising non-deviation from their community’s expected standards. The voting nodes are currently being worked on, with hopes to resume community voting with the next DEX decision.
The PancakeSwap team will open a XEND-BNB farm to host the XEND Syrup Pool. The farm will have the usual 2X CAKE rewards for the first 48hrs and 1X CAKE rewards after that.
How to Stake CAKE to Earn XEND?
The first step is to own CAKE tokens, which can be acquired by using the AMM and either swapping or staking other currencies.
The following steps are a guide on how to stake CAKE in the Syrup Pool to earn XEND.
Visit the Syrup Pool page
Click “Approve CAKE” on the XEND Syrup Pool
Click on the stake button.
Confirm the transaction.
BEP20 XEND will also be circulating and transferable on Binance Smart Chain (BSC) when the Syrup Pool starts, so users will be able to harvest XEND tokens and trade on PancakeSwap at any time!
About XEND Finance
XEND Finance is a Nigeria-based start-up backed by Binance Lab and Google Launchpad, set to revamp the way Cooperatives and Credit Union operate in Africa and beyond. It’s the first DeFi platform for Credit Unions and Cooperatives that will add extra layers of earning via staking to saving and investing on its protocol.
XEND Finance is the first African company to build on Binance Smart Chain (BSC) and one out of the 4 African startups that graduated from season 2 of the Binance Labs incubation program.
Xend Finance provides the tools and platform for a DeFi credit union, regardless of geographic location and native country currency. Members can earn multiple interest levels on their savings by seamlessly exchanging their crypto or fiat currency into stable cryptocurrencies and staking on lending platforms. The project recently partnered with Paralink to gain access to their oracle data, increasing the quality of their product.
Source : bsc.news
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