XDEFI Wallet announced last Tuesday, December 21, through its Twitter account, that it distributes 1.2% of the $XDEFI tokens to LUNAtics through Pylon Pools.
“We will launch the XDEFI-UST CW20 liquidity pool after the launch of Astroport (December 28)” The address of the $XDEFI CW20 contract is terra169edevav3pdrtjcx35j6pvzuv54aevewar4nlh”, he said through an article published on the Medium platform.
The company explained that 1.2% of the total supply of $ XDEFI will be distributed through 3 Pylon Pylon Pools over a 2-year vesting period.
Each pool of pylons has 3 parameters:
• Token allocation: amount of $ XDEFI tokens allocated in the Pylon Pool.
• Acquisition period: acquisition period of the Pylon Pool: its life expectancy.
• Lockout Period – Lockout period before you can start claiming XDEFI rewards.
$XDEFI Pylon Pools summary
According to the company, pools with longer lockdown and consolidation periods are allocated significantly more $XDEFI tokens.
In addition, he indicated that 60% of the proceeds from the $ XDEFI Pylon Pools will be distributed to grants and charities in the Terra ecosystem:
• 50% of the proceeds from the $XDEFI Pylon Pools will be used to provide undiluted grants for early stage Terra ecosystem projects (details to be confirmed).
• 10% of the profits from Pylon Pools will be donated to the Angel Protocol.
How does it work for depositors?
• You must have at least $10,000 MINE staked in your wallets to be able to deposit $UST in a Pylon Pool (instructions at the end of the article).
• Deposit $UST into one or more of the XDEFI wallet pile groups. You will own a prorated percentage of that group of pylons.
• $XDEFI will be issued regularly to depositors. The amount of $XDEFI tokens that each depositor will receive depends on the number of tokens allocated to the Pylon Pool, the grant period of the Pylon Pool and the% of the Pylon Pool owned by the depositor.
• You can only start claiming $XDEFI and withdraw $UST at the end of the group lockout period.
How to deposit?
• Go to Pylon Gateway and connect your XDEFI wallet.
• Deposit $UST in the Pylon Pools of your choice and confirm the transaction.
• Start claiming rewards after the lockdown period ends.