XCarnival’s BSC Launch & Users’ Guide

8 min readOct 17, 2021

Great news!

XCarnival’s mainnet launch on Binance Smart Chain (BSC) will kick off at 23:59 (GMT +8), on Oct 18.

Come and try out our two core products:

XBroker

Xbroker is a platform for NFT pledged currency lending, which provides liquidity for the NFT market. Participants are divided into three roles: borrower, lender, and liquidator. The borrower is the role of providing NFT to pledge the currency after the loan, the lender obtains interest by lending USDxc, and the liquidator participates in the liquidation through the auction price, that is, pays the auction transaction prices to obtain the NFT.

It brings to the forefront the promising mechanism of time-limited auction liquidation to solve the price and liquidity challenges faced by NFTs.

Megabox

Megabox is a platform that mints a corresponding amount of USDxc by staking a certain amount of stablecoins. The minted USDxc can be used for lending or liquidation in XBroker.

It focuses on sub-mainstream tokens mortgage and lending and comes integrated with the superior Pool Mortgage Rate Setting Models and Risk Control Systems, which can effectively release liquidity and expand the profit exposure to users who own altcoins.

User Manual

Here are the instructions for you to navigate and use the products.

XBroker

You can first go to the XCarnival Genesis Mystery Box page and buy the NFT mystery box, or exchange it with the NFT mystery box on Galaxy 1:1.

After getting the mystery box, you can use XBroker to mortgage the NFT.

As a borrower or lender, mining will automatically start when the NFT is in a pledge state. The mining rewards are calculated according to the order, and the reward details can be viewed on the Farming page.

You may see the detailed guideline here:

XBroker

1⃣️ As a borrower, how to complete the process of mortgage (pledge) ➡ loan (loan) ➡ redeem (redeem):

1. Select “XBroker” -> “Borrow” -> “My Wallet” to find NFTs that can be used for mortgage

2. Input the amount, time, expected annualized rate of return (APR) or total interest paid, click “pledge” to authorize the wallet, NFT is on display, waiting for transactions with the intended lender

3. You can use any of the three paths “XBroker” -> “Collateral” -> “Market” or “XBroker” -> “Lend” -> “Collateral” or “XBroker” -> “Borrow” -> “Listed”， Find an NFT order that is on display, click the order area to enter the details page

4、There are three ways you can find NFT orders in listed status from “XBroker”-”collateral”-”market” or “XBroker”-”Lend”-”collateral” or “XBroker”->”Borrow”->”Listed”. Click to enter the order details page

5. After the lender bids, click to enter the order details page, the offers area below can query the specific quotation record, select a favorite quotation, click “Accept” and the NFT starts to be in pledge state

6. When the loan period approaches, click to enter the order details page, click “Redeem” to invoke the wallet to pay the principal and interest to the borrower and redeem the NFT

If the principal and interests are not paid in time, the NFT enters the liquidation process and the borrower no longer has the ownership of the NFT at this time.

You can click “XBroker” -> “Borrow” -> “Loan” -> “liquidated” to view the order details

2⃣️ As a lender, how to complete the process of making offer➡lend➡withdraw funds and interests/collect NFT (withdraw funds and interests/collect NFT):

1. Find the NFT order that is on the shelf, click the order details page, you can lend it at the borrower’s asking price, and click the “lend” button directly

You can also click the “make offer” button to customize the loan principal and interest. Note that the loan term does not support customization

2. When the loan period is approaching, the lender will automatically transfer the principal and interest to the lender’s wallet after paying the principal and interest.

3. If the lender fails to pay the principal and interest in time, the NFT enters the liquidation stage. You can click “XBroker” -> “Lend” -> “Loan” -> “liquidating” to view the specific order. The lender can also act as the liquidator Liquidate

3⃣️ As a liquidator, how to complete the process of bid ➡ liquidated ➡ collect NFT:

1. From “XBroker”-”liquidate”-”collateral”, you can find the NFT order in the settlement state, click to enter the order details page, click “bid”, and enter the price

2. The transaction will be executed at the highest price at the end of the liquidation. At this time, the lender clicks “withdraw funds and interest” or the liquidator clicks “collect NFT”, the order is automatically closed after completion

The order without extracting NFT can be viewed at “XBroker” -> “liquidate” -> “purchased”

Megabox

1⃣️ Casting operation process:

1. Select “Megabox” -> “Market” to view the stable currency assets that can be pledged on the market, the corresponding maximum amount of minted USDxc, the maximum loan-to-loan ratio (LTV) and the liquidation threshold

2. Select “Megabox” -> “Mint”, enter the amount of pledged assets and the amount of USDxc minted this time, and click the “Mint” button to start minting

2⃣️ the liquidation operation process:

1. As a liquidator, select “Megabox” -> “Liquidation” to view the current situation of liquidable assets in the market

Click the “Liquidate” button and enter the amount to be cleared

2. As the liquidated person

Select “Megabox” -> “Dashboard” -> “Mint management” to view the details of the current minted assets, you need to pay attention to the LTV and price, when the current LTV >= liquidation threshold (liquidation LTV) or mortgage When the market price of the stablecoin drops to the liquidation price, liquidation will be triggered

3⃣️ view the record method:

1. Select “Megabox” -> “Dashboard” -> “Mint management” to view the details of the current minted assets. For a single piece of asset details, click “More” to change the number of assets to adjust the current loan-to-loan ratio (LTV); Click “Deposit” to increase the number of pledged stablecoins. Click “Withdraw” to reduce the number of pledged stablecoins; click “Burn” to reduce USDxc and release the corresponding stablecoins; click “Mint” to increase the pledged stablecoins to increase the number of USDxc

2. Select “Megabox” -> “Dashboard” -> “Transactions record” to view each deposit, minting, redemption, and withdrawal record

3. Select “Megabox” -> “Dashboard” -> “Liquidation record” to view each liquidation record, including my liquidated and my liquidated parts

Farming

Don’t forget, you could also do yield 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. Rewards follow the status of the order, are generated at any time, and can be harvested at any time. When harvesting, 30% of the rewards are directly released and converted into an withdrawable state and can be withdrawn to the wallet at any time. The remaining 70% of the rewards are released into the locked pool and released in 180 days to the withdrawable state.

Here is the guides for you:

1⃣️ The process of how to obtain and withdraw rewards as a borrower:

1. Select “farming”->”As borrower” to view the number of rewards available for the current order, click the “harvest” button in the order area to harvest the rewards of the current order, click the “harvest” button in the My rewards area above The remaining repeatable rewards of all current orders can be harvested with one click.

2. Click the order area to jump to the order details page to operate the order

3. After the repayment, the order is completed and the borrower’s remaining repeatable rewards are automatically harvested. 30% of it will be directly converted to the withdrawable state. Click “claim” to withdraw to the wallet, and 70% will be converted to the locked state to be released.

2⃣️ As a lender, how to complete the harvest rewards ➡ the process of withdrawing rewards:

1. Select “farming” -> “As lender”, you can view the amount of rewards that can be harvested for the current order, and click the “harvest” button to harvest the rewards for the current order.

2. Click the order to jump to the order details page to operate the order

3. When the borrower redeems on time or withdraws the corresponding proceeds after the liquidation is completed, it will be automatically harvested as the lender’s remaining harvestable rewards, 30% of which will be directly converted into the withdrawable state, click “claim” to withdraw to the wallet, 70 % Is transformed into a locked state to be released.

Since you’ve come so far, here is more information on XCarnival for you.

What is XCarnival？

XCarnival is a lending aggregator for Metaverse assets which offers innovative liquidation solutions for varieties of NFT assets and long- tail crypto assets.

Token Distribution

XCarnival Governance Token：

Symbol：XCV

Total Token Supply: 1Billion

Public Round Price: 0.1usd

Yield farming 50%

Investors 18%

Team&Advisors 12%

MKT&Operations 10%

Treasury 7%

Others 3%