XCarnival Announces the Launch of the Upgraded Brand New Staking System (with operation guide)
On December 16, 2022, XCarnival, a Web 3’s financial infrastructure protocol that provides multi-chain, secure NFTFi financial services, announces the launch of the brand new staking system.
Introduction of the Brand New XCarnival Staking System
Today marks the official launch of our entirely new XCV staking function. We know that everyone has been anticipating the overall upgrade for quite some time. Let us read the attached guildlines and stay up to date on the latest progressions on the new STAKING system:
1. Users who pledge XCV will receive veXCV, which can be withdrawn at any time;
2. Staking XCV will reward ETH / BNB and veXCV. If you pledge XCV on the Ethereum mainnet, you will get ETH as reward. If you pledge XCV on the BSC mainnet, you will get BNB as reward. The distribution of BNB/ETH rewards is based on platform income; the higher the platform income, the higher the user income;
3. The obtained veXCV can be used for two main functions: one is to pledge and receive the same ETH / BNB and veXCV rewards as the pledged XCV; the other is to pledge the obtained veXCV for 180 days and receive XCV at a 1:1 ratio (XCV will be released in a linear and proportional manner over the duration of 180 days);
4. Pledge XCV and veXCV can be deposited and withdrawn at any time, and the pledge time is unlimited. Of course, the longer you stake, the greater your rewards;
5. It should be noted that veXCV is not transferable; therefore, do not purchase veXCV in the market or over the counter.The tatal amount of veXCV that can be attributed is limited. The more XCV and veXCV you pledge, the more veXCV you can claim.
Furthermore, only on the BSC mainnet can you double your pledged XCV and veXCV by pledging X’MAN Card at the same time to receive more rewards. Each wallet address has the ability to pledge up to 5 X’MAN Cards. The following are the specific rules:
Pledges can be made in three ways:
Method ①
If you pledge 1 x’man card, the pledge principal will increase by an additional 10%
Method ②
If you pledge 3 x’man cards, the pledge principal will increase by an additional 25%
Method ③
If you pledge 5 x’man cards, the pledge principal will increase by an additional 50%
Example:
I have pledged 1000 XCV and 1000 veXCV. If I pledge 3 X’man cards at this time, I will receive a reward equal to the share of pledged 1250 XCV and 1250 veXCV.
Please read the following details for the operation guide:
(Take the BSC main network as example)
Navigate to the XCarnival official Earn website at https://xcarnival.fi/earn
- Staking XCV:
After connecting the wallet and switching to the BSC main network, click the “Stake” button on the Stake XCV block to open a pop-up window.
Enter the amount of pledged XCV in the input box, and optionally click on a specific X’MAN Card to stake, before clicking the “Stake” button again to begin staking XCV and the selected X’MAN Card.
2. Unstaking XCV:
Click the “Unstake” button on the Stake XCV block, and a pop-up window will appear.
Enter the amount of unstaked XCV in the input box, then select the X’MAN Card to unstake and click the “Unstake” button again to unstake both the XCV and the selected X’MAN Card.
3. Pledge X’MAN Card Only:
Click the “+” button on the page to open a pop-up window to pledge X’MAN Card, and then click the “-” button to close the X’MAN Card pop-up window.
After selecting the X’MAN Card you want to stake in the pop-up window, click the “Stake” button to begin staking.
4. Compound:
The Compound function pledges the veXCV rewards that have yet to be claimed as well as the XCV that has already been vested in order to generate more rewards.
When you click the “Compound” button on the page, a pop-up window with the option to select Compound will appear.
When you select the token for which you want to compound interest and click the “Compound” button, the token will be pledged again.
5. Claim Rewards:
After clicking the “Compound” button on the page, all ETH / BNB, veXCV rewards and already vested XCV will be withdrawn to the wallet.
6. Vesting:
Through attribution, existing veXCV in the wallet can be converted into XCV tokens. A pop-up window will appear after you click the “Deposit” button on the page to deposit veXCV.
The maximum amount of veXCV that can be deposited is determined by the amount of veXCV in the wallet and the remaining Vesting Capacity. Increase the amount of XCV and veXCV staked to increase the remaining Vesting Capacity.
After entering the amount of veXCV deposited, click the “Deposit” button to start Vesting.
7. Withdraw
After clicking the “Withdraw” button on the page, Vesting will be stopped, and the vested XCV and remaining unvested veXCV will be withdrawn to the wallet. Partially withdrawing is not permitted.
About XCarnival
XCarnival is a Web3’s financial infrastructure protocol that deeply cultivates the NFTFi track, as well as the first asset liquidity protocol to incorporate P2P and P2Pool mortgage lending products. XCarnival launched in 2021. As the winner of Hackathon for Southeast Asia, we are dedicated to meeting the growing demand for asset liquidity and providing a broader range of simple and secure NFTFi ecological solutions. XCarnival is now on KuCoin, Gate.io, MEXC, and other DEXs.
To learn more about XCarnival, visit xcarnival.fi, follow @XCarnival_Lab on Twitter, join discord discord.gg/SnpRNMkZ2k, join Telegram t.me/XCarnivalCommunity.
