Farming
What is Farming? Farming is a mining incentive mechanism derived from the XBroker scenario. A certain amount of XCV is issued as a reward to participants by staking NFT or lending USDxc.
Farming Explained
Farming is a mining incentive mechanism designed for XBroker users. A certain amount of XCV is issued to participants as a reward for pledging NFTs or lending USDxc. The rewards are generated on a round-the-clock basis according to the status of the order; 30% of the rewards can be immediately “harvested” and withdrawn to the wallet, while the remaining 70% are locked in a reward pool and gradually released over 180 days.
User Guide for the Closed Beta Test
Steps for claiming and withdrawing rewards as a borrower
a. Select “Farming” -> “As borrower” to view the amount of rewards that ca n be claimed for the current order; click the “Harvest” button on the order page to claim the rewards for the current order, and click the “Harv est” button in the “My rewards” area above to claim the remaining rewards available for all the current orders in one go.
b. Click on the order to jump to the order details page.
c. Upon the completion of repayment, the remaining rewards of the borrower are automatically claimed, of which 30% are immediately withdrawable to the wallet by clicking “Claim,” while the other 70% are locked, pending release.
2.Steps for claiming and withdrawing rewards as a lender:
a. Select “Farming” -> “As lender” to see the amount of rewards that can be claimed for the current order, and click “Harvest” to claim the rewards.
b. Click on the order to jump to the order details page.
c. When the borrower redeems on time or the liquidator withdraws the corresponding proceeds at the end of the liquidation, the remaining claimable rewards for lenders will be automatically claimed, of which 30% can be immediately withdrawn to the wallet by clicking “Claim” and 70% are locked, pending release.
General Farming Rules
Users can mine and receive XCV rewards in the following ways:
Pledge NFT assets and borrow tokens on XBroker;
Lend funds to secured parties on XBroker;
Provide liquidity for USDxc’s stablecoin LP;
Provide liquidity for XCV/BUSD LP. *Due to the special nature of NFT assets, the risk borne by the lenders is significantly greater than that experienced by the borrowers at this stage. Therefore, the XCV rewards produced in each block will be allocated to the lenders and borrowers at a 70/30 ratio.
Last updated
