AXPR Staking Program Launch + Partnership with Ferrum Network
We’re delighted to announce that we’re partnering with Ferrum Network to create DeFi staking pools for the AXPR token. This partnership will initially consist of setting up two staking pools, one for liquidity staking, and one for traditional staking, each with high APY and in total locking up approximately ~25% of all circulating supply of AXPR.
These pools will be accessible and beneficial for members of the community locking in their AXPR tokens for 120 days, with early withdrawal possible after 60 days at a lower APY. The staking program will go live this Friday at 12 PM CET, following our Uniswap launch last week, and staking contributions will be open for 21 days prior to the program initializing.
The link to accessing the staking pools will soon be added to this article.
How does it work?
The liquidity staking pool requires participants to lock in ETH/AXPR into the Uniswap liquidity pool and then locking their LP tokens into the liquidity staking pool. There are no minimums or personal caps for staking in this pool.
The traditional staking pool is simpler, and therefore offers less APY. To participate in it, users simply need to lock in their AXPR into the traditional staking pool directly. There are also no minimums, but the max contribution per user is 1.5M AXPR for this specific pool.
Early withdrawals from both pools is possible after 60 days, but then only at 10% APY to stakers. See below for the specifications of each staking pool.
Liquidity staking pool:
Traditional staking pool:
So, what does this mean?
Partnering with Ferrum Network has allowed us to easily provide staking to the AXPR community, and as a consequence further token utility, with the first two pools we’re launching locking in tokens for 120 days and bringing us that much closer to the launch of PayBX where a plethora of additional utility for the AXPR token will become available.
Additionally, we plan to work with Ferrum Network for their Binance Smart Chain bridge in Q3 of this year, bringing the BEP2 AXPR token to the DeFi ecosystem that’s rapidly growing on Binance’s new blockchain.
If you’re an AXPR token holder, then the two different choices of pools that we’re launching this week will enable you to earn APY on your passively held AXPR. Think of it as a benefit for being a committed HODLer!
About Ferrum Network
Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption with user-friendly products for swapping, staking, and transferring cryptocurrencies. Its cross-chain DAG will enable the transfer of any digital asset in milliseconds for near-zero network fees, unlocking tremendous value for the entire industry.
aXpire is an off-shoot of the LegalTech company LSG, with a history of having worked with the likes of Coca-Cola, Nike, Intel, IBM, and other global brands. Founded in 2017, the company offers B2B cloud-based FinTech software solutions and counts a top 10 global hedge fund by AUM amongst its clients. In 2021, the company has launched a further two B2B solutions and aims to release its B2C cryptocurrency payments app, PayBX, by Q3 of this year.