X-pool aims to be one of the leading DEXs established in 2021. It is built on the Binance Smart Chain with the objectives to enhance transparency and create more opportunities for all traders in the market.
Decentralized Finance (DeFi) is considered to create a “breakthrough” in the banking, finance, economics, and crypto industries. DeFi has become a promising field attracting large investment in recent times. In particular, the demand for borrowing and lending becomes hotter when it seems that the traditional financial market cannot fully satisfy the strict users’ requirements! Foreseeing that trend, Xpool, a decentralized lending protocol on Binance Smart Chain (BSC), has been developed to meet the needs of the market. Therefore, Xpool and the XPO token will be a potential project on BSC to invest in 2021. Now let us find out more about the most awaited project in 2021 – Xpool and the XPO token!
What is Xpool?
X-pool is an open-source decentralized protocol built on BSC. It enables users to borrow assets from the platform, deploy their assets, and earn intrest with ease.
Xpool’s Unique Selling Point
Building on the BSC gives Xpool a huge competitive advantage that helps the platform build a better reputation in the Defi market due to the following features:
- Cheap Transaction Fees
Binance Smart Chain and Ethereum are two of the most common blockchains of choice for DeFi projects. When it comes to blockchain fees, BSC is substantially more cost-effective than Ethereum. Thus, X-pool has an outstanding advantage when as many users cannot access the Ethereum Network due to immense transaction fee’s.
- Transaction Speed
Binance Smart Chain is compatible with smart contracts for decentralized applications, is connected with the high throughput Binance Chain to achieve shorter confirmation times and higher transaction processing speeds while being programmable. X-pool guarantees a stably high speed for every transaction.
XPool Token Information
XPO is a BEP-20 token of Xpool with a total supply of 210,000,000 units distributed to the community through Airdrops, IDO Programs, and Liquidity Incentives. XPO holders will receive the advantages below:
- Earning Interest on Deposit
By depositing XPO to Xpool protocol, users will earn an attractive annual interest as the passive income.
- Use as Collateral
Borrowers can use XPO as collateral to borrow assets and have a chance to get a discount on fees or borrow more than usual.
- Fee Collection & Discount for Xpool Services
Xpool borrowers do not get charged a fee if they take out loans denominated in the token.
- Voting and Governance
Users who hold XPO tokens can vote for potential product upgrades, releases, and parameter fixes.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.