Introducing XDEFI Wallet, a multi-chain wallet designed to make the web3 experience an enjoyable and frictionless journey!

At XDEFI Wallet, we are convinced that Terra will bring decentralization to the masses and we want to support the ecosystem in this regard.

Therefore, we’d like to launch a CW20 version of our $XDEFI Token (available as an ERC20 currently) and to distribute it over 2 years using Pylon Pools.

The $XDEFI Token, designed by Delphi Digital, will have four utilities: staking, governance, building and play to (l)earn.

We are investing a lot of resources to develop Terra features in our Wallet. Currently our community members can already:

  1. Manage all their Terra assets (LUNA, UST and other stables coins and any CW20 Tokens)
  2. Interact with every dApps built on Terra
  3. Deposit UST into Anchor Protocol and earn a yield directly from the wallet
  4. Ledger Support
  5. On fiat ramp for LUNA and UST

In the coming months, we’ll release more Terra specific features such as:

  1. NFT management (display/send/private sale)
  2. Native Astroport integration (swap Terra assets directly from within the wallet)
  3. Native Orion Protocol integration (earn yield from multiple stablecoins directly from within the wallet)
  4. Native LUNA delegation

More generally, We’ve got big things coming up in our roadmap, including a mobile app, web app, and cross-chain API as well as a multichain DEX aggregator.

Also, $XDEFI holders will soon be able to stake their tokens to receive rebates on fees in the wallet, depending on how long they lock their tokens (0 - 12 months).

We’re big fans of the Pylon community and we’d be super excited to work with you. That’s why we’d like to distribute 1.2% of the $XDEFI total supply in 3 Pylon pools (2,850,000 $XDEFI).

Also, we plan to redistribute roughly half of the income generated by the 3 pools as grants to fund early projects within the Terra ecosystem.

Here’s what we have in mind concerning the pools breakdown:

  1. Pool 1
  • Token allocation: 250,000 $XDEFI
  • Vesting period: 6 months
  • XDEFI rewards are claimable after 2 months
  1. Pool 2
  • Token allocation: 600,000 $XDEFI
  • Vesting period: 12 months
  • XDEFI rewards are claimable after 4 months
  1. Pool 3
  • Token allocation: 2,000,000 $XDEFI
  • Vesting period: 24 months
  • XDEFI rewards are claimable after 8 months

Moreover, to be able to deposit UST into the pools, people would need to have a minimum amount of 10,000 MINE stacked in their wallets!

The emission schedule would be the following:

Since our creation in 2020, we’ve grown to a team of around 35 based around the world. We count over 70k users on the Chrome Store and a community on Discord with over 9K members.

If you haven’t already, head to the Chrome store to try out the wallet - we’d love to hear your feedback!

If you have any other questions about our product, roadmap, or proposal, please feel free to ask.

28 Likes

Used the XDEFI wallet for a while, and this has been an excellent UX - keep up the good work; I partcipated to the MISO and will definitely participate further in the Pylon Pool.

10 Likes

Looks good, I would like to be able to invest in some XDEFI on Pylon. This will go for Vote?

7 Likes

Xdefi is a very interesting multichain wallet, using it since several month now.

6 Likes

A lot is happening with XDEFI Wallet! Becoming the MM successor!

3 Likes

Love the proposal, but the amount of tokens seems quite low. I hope you guys can increase that given the lockup periods imported by the pylon pools.

5 Likes

A few question to better understand:
Xdefi should have a supply max of 240mn coins :

Here a link to the tokenomics and token usage:

  • Would the xdefi in pylon pool be added, burning the ethereum chain correspondent supply?
  • When are you planning to add a lp xdefi-ust in terra?
  • Will the staking functionality be available in terra? It would be great for gas cost?
  • Will your wallet be integrated in terra dapp?
  • which bridge are used for cross chain swap?

Having seen your token allocation:
would you consider a bigger amount allocated through pylon?

An addtional note:
pools are normally: 6-12-18 and not 24 month. I think that 24 lockup is really too much, but we can try it.
I like the requirement of 10k mine staked as prerequisite to access the pool.

In general I tend to like the idea of this pool.

8 Likes

Wallet is amazing, coin is strong and ready to be bullish. Perfect match!

5 Likes

10,000 $MINE means $1,000 , it’s accessible and a very nice initiative !
Thanks to @Retiere #XDEFI_Wallet and @Pilon_Protocol to bring us a Terra version of $XDEFI Token !

Congratulations !

Now I’d have to learn more about some details !
Good Luck =)

4 Likes

Thanks for your questions, keen to answer them!

  • Would the xdefi in pylon pool be added, burning the ethereum chain correspondent supply?

The overall supply (ERC20 + CW20) won’t change. When ERC20 XDEFI are bridged using Wormhole, they are locked and CW20 whXDEFI are minted. The other way around, when CW20 whXDEFI are bridged, they are burned and the corresponding amount of ERC20 XDEFI are unlocked.

  • When are you planning to add a lp xdefi-ust in terra?

Right after (within days) the creation of our Pylon Pools. Possibly the same day.

  • Will the staking functionality be available in terra? It would be great for gas cost?

Proly not for the V1. Yet we are considering it strongly. As you pointed out, would be great for the gas cost.

  • Will your wallet be integrated in terra dapp?

You can already use our wallet with every terra dapp. We are in touch with a lot of projects to be added to their front end! If you know projects on Terra willing to integrate us as a wallet option, please tell them to reach out to us. We’ll be keen to help them :slight_smile:

  • which bridge are used for cross chain swap?

We plan to use THORChain for native assets swaps. For bridges, mostly Wormhole. For intra chain swap, we’ll use well-known/liquid DEXes for each chain we support

6 Likes

Very detailed answer!

About the pylon pool: I am absolutely in favor.
I think there is a poll to propose it in governance even if I never used. I guess you have already contacted pylon behind the scene: personally I am just waiting that you add the pool.

Not related to your offer.
In future there will be also the liquid pools. PSI (nexus protocol token) will test them. My impression is that could be a very good solution for tokens already traded.

I went through your document online: the software is not open source. Any intention of doing it? Especially after governance is active can make lot of sense. I would not exclude devs contributing to have governance in terra (mirror is open source and governance code ‘available’ :slight_smile: ). I don’t think that a project can have governance being close source to be honest.

Last: I would like to keep an active post in the forum to exchange info if you add your pool in pylon as I hope. Following the tg groups is very dispersive and forum discussions allow me to get more valuable information.

3 Likes

Thanks for being absolute Chad’s and coming to our community. Love to see it . More so awesome to see some of the funds going to fund early terra projects :raised_hands:.

I have a few ideas/suggestions.

  • wait at least 1 week between making this post and placing a governance vote. We are finding community members want some time to discuss/think about proposals.

  • Have you seen Nexus Protocol x Pylon collaboration to launch liquid Pylon Pools? It is being trialed with the Nexus Protocol pool and if that goes well, I think it would be awesome to also offer it for XDEFI.
    https://twitter.com/pylon_protocol/status/1466722616442593283?t=MeIz6R43Nfo8M2rNn6kn0A&s=19

  • Thanks for proposing a utility for Mine. I’d love to offer alternative approach. Currently, Pylon is moving to a Protocol Owned Treasury model. We are in the process of setting it up. One Treasury tool we hope to use is called Treasury Swaps. This would allow the treasury to swap an amount of UST for a project’s token that utilise Pylon, whereby the treasury accepts reasonable long vesting/lock terms. The treasury will ultimately provide the greatest reward to long term Mine stakers. This has two benefits. 1) puts project’s tokens in the hands of people who know how to hodl, 2) rewards those who have supported/supporting Pylon long term. Potentially the pools could 2.5m XDEFI tokens and 350k could go to treasury swaps. This would also remove the need to implement the 10k Mine staking barrier to the pool. Something we have found creates a lot of buying and then selling.

7 Likes

About the pool I have given my feedback and positive vote.
Now I would like to give an idea to xdefi itself.
What about setting up a Valkyrie campaign? I think that Valkyrie needs to target other chains and move capital from there to terra.
Xdefi looks a very good way to use wormhole behind the scene for less advanced users and even for advanced ones who are looking to avoid cumbersome operation.
A campaign to reward who move a certain amount to a terra wallet through xdefi could make sense (I don’t know how hard is to organize it but i think it is not so hard as you sholud have a wallet address in terra which is sending to the user client address the transeferred coin). Such a campaign would allow the users to take part to other campaign easily (example the one for adding to pylon pool1 and the new ones which are coming). I think xdefi can play a role in creating capital inflow from other chains and, even more important, to expand the terra user base. Let’s not forget what brought lot of us to terra well before the hype started: real world applications and growing user base.

3 Likes

$XDEFI / $UST pool on #Terra, awesome plan !

I’m very happy with the threshold of 10k MINE and already voted yes on the proposal. I’m seeing other projects giving a very small allocation to MINE stakers. I would like to see XDEFI doing this too (of course). I’m thinking about a very small reward to MINE stakers (see it as play money to try XDEFI before getting into the pools).