Xend Finance Strong Holder Qualification Ended on DAO Maker`s Platform

• February 20, 2021 • 586
xend sho dao

Xend Finance brings people a unique way of storing their digital assets and earning the maximum profit possible.

Decentralized Finance (DeFi) has opened up a world of savings opportunities for people from all over the world. Based on the peer-to-peer networking technology of blockchain, the hefty commission-taking middleman is eliminated from the game. Now, you don’t need an intermediary who eats up your profits. Using smart contracts, the little lines of codes are free from the need for money, work independently, and are secure. In DeFi, lenders earn more as they get higher returns, and borrowers benefit from a lower interest rate than pay for the loans.

Compounding the lower yields for traditional savings and investment in most African countries is hard-hit economies with a higher than average inflation rate. The continual devaluation of fiat means that the savings made cannot counter the invested amount’s dropping value. Limited within the country’s physical borders, these investments have an average of 1% annual percentage yield, not counting the inflation. Xend Finance, on the other hand, offers people to make as much as 15% APY on their crypto assets. Xend Financeis build on Binance Smart Chain.

Xend Finance’s Strong Holder Offering

Teaming up with DAO Maker, Xend Finance will be offering the former’s unique Strong Holder Offering (SHO) mechanism. Unlike other forms of token offerings, SHO is designed to onboard sincere and committed people to a platform’s cause.

Backers are advised to have at least $1,000 equivalent assets in their wallets to qualify for the SHO. There are two ways to take part in the SHO:

Merit Holder Round

A total of $75,000 worth of $XEND is available to people who can prove that they have what it takes to be a part of the Xend Finance ecosystem. Certain conditions have to be met. Each condition evaluates the applicant with a scoring system, with a total of 30 points possible:

  • Total USD equivalent cryptos held in the wallet
Held $
  • Total Liquidity on Uniswap, Balancer, or SushiSwap (held for a minimum of 7 days)
  • Holding DAO Maker tokens (DAO)
  • Holding Compound (COMP) tokens for a specific period minimum
$ Worth of COMPHolding DaysPoints
$50014 Days1
$1,00030 Days2
$5,00090 Days3
$25,00090 Days4
$50,00090 Days5
  • Holding Aave (AAVE) tokens for a specific period minimum
$ Worth of AAVEHolding DaysPoints
$50014 Days1
$1,00030 Days2
$5,00090 Days3
$25,00090 Days4
$50,00090 Days5
  • Holding previous SHO tokens from Orion (ORN) and OpenPredict (OPT) of minimum $1,000 equivalent will get 1 point each.

Social Boost Round

$25,000 worth of $XEND is reserved for the social round. Only the most dedicated members of the XEND Finance’s social groups are eligible. Social Boost participants must fill out a form to qualify and will need to commit at least $100 to apply.

Before applying, participants must follow the Xend Finance Telegram channel and Twitter accounts of Xend, DAO Maker, and the Project Lead. Their wallets must also be connected to the DAO Maker social mining platform and collect 400 points on the platform linking their social media accounts and promoting the Xend Finance project. A total of 250 lucky people will be picked for the SHO.

The Xend Finance Options

Xend Finance, as a DeFi platform, allows its users to deposit their cryptocurrencies on the platform through smart contracts. Xend then converts the cryptos to stablecoins on different lending platforms, ensuring that the users get the highest payout possible. Through this, people who would only be limited to a single ecosystem can take advantage of multiple DeFi ecosystems, their profits channeled through the cross-compatible Xend Finance infrastructure.

Enabling millions of people worldwide to make profits, Xend Finance understands that there will be people who would like to generate profits individually. In contrast, others might prefer to increase their holdings through a pooling of resources. Xend Finance participants have three options:

  • Credit Union: A user can create a group and invite other people to pool their resources.
  • Esusu: An informal way of sharing a set amount of money per person in a group per month and handing over it to one participant, changing the receiver every month.
  • Individual Investor: A person individually commits his or her resources.

Xend Finance allows people to take part in these three ways. They can use smart contracts to set up a schedule of the investment round. The platform will automatically stake their coins and tokens on different DeFi networks, allowing them to earn interest.

Why Use Xend Finance?

Rather than create a whole new DeFi platform that would require users to sign up on it and invest, Xend Finance has created a platform that allows people to use one network to stake and earn on different DeFi ecosystems. Xend currently supports Aave, Maker, and Compound, selecting the best returns from the three to ensure its users get the best possible profit.

Xend Finance has also ensured that the users have the best experience by building on the Binance Smart Chain, one of the most rising blockchain networks, having cross-chain interoperability, and extremely high throughput energy-efficient as it uses Proof of Stake (PoS). Xend Finance also has an on-chain governance model that lets its users vote on future developments, even selecting which DeFi platforms to include as it expands.

With backing from unicorn forges like Binance Labs, Google Launchpad, AU21 Capital, TRG Capital, Matic co-founder Sandeep Nailwal and others, Xend has the potential to re-shape the financial situation in the developing world. AnrRkey X, Seascape, VAIOT and many more have lately used DAO Maker`s SHO model to raise funds with significant after TGE results.