We know you have all been waiting eagerly with a lot of patience for the next steps ahead of us. I would like to take some time to look at XStable’s performance so far and then talk about the road ahead.
XStable was launched with a presale price of 1$ per token, with a total raise of 75 eth, which was deployed as locked liquidity. Over the first few initial days, we crossed 10mn$ total volume, increased the total supply by 3.5x, and hit a peak price of 7.5$+. The token itself did a peak return of 27x+ from the presale. It is currently trading at a price of 0.6$ which is at 100%+ from the presale, including the supply expansion.
Since day 1, we have focused on achieving a multi-chain unpegged stable token that can be used in many of the defi systems, but a ton of volume is required to achieve this utility. While the waning speculative demand is a problem, the high gas fee on the Ethereum chain has been a killer blow. The initial outline was to look for the multichain integration 6 months from launch but we need to push the timelines up to generate the volume and keep the wheels turning.
The BSC launch will take place in the next 3 weeks. While several projects did a new launch with the same codebase, we will stick with the concept of XST on one chain is equal to XST on any chain. On the other hand, the eth launch was a proof of concept that generated significant user interest. It is time to dive into the fully-featured ecosystem on BSC showcasing what this is capable of. Considering these, our BSC launch will be as below:
- An in-house bridge will be opened between both the chains, where XST tokens can be swapped between ETH and BSC chains.
- Ecosystem tokens of 300k will be initially portalled onto the BSC chain. These will be reduced from the ETH chain and will be minted on the BSC chain.
- 200k tokens presale will be conducted on BSC with additional 100k tokens used for initial liquidity. A small number of funds will be retained from this presale, unlike the ETH presale, to focus exclusively on marketing, partnerships, and community education.
- Initial rewards on BSC chain will be much higher than that of ETH due to the very limited supply, unlike the ETH launch. This is expected to have very high volatility at the time of launch.
- Community tokens of 50k will be accepted for the initial portal onto the BSC chain. These will be burned from the ETH chain and minted on the BSC chain. The community tokens can be claimed by the contributors once the presale is concluded and liquidity is deployed.
- The XST bridge will not accept portal requests for the initial two weeks post liquidity deployment allowing expansion on both sides. This will effectively reduce the supply on both sides and markets can freely determine the velocity. Once the bridge opens to all, XST price normalizes across both chains and operates freely.
- A liquidity incentive program that eliminates the tax on liquidity addition while offering additional rewards will be available at BSC launch.
- At least 2 farming partnerships that work in XST dual yield system at the time of BSC launch.