xSatisFinance Upgrade, Listing on CEX and Lottery
Hello SatisFians!
It’s been already 3 weeks since we launched, and lots of things happened.
Price action, listing CMC/CGK, partnership with ValueDeFi/Beefy/GooseFinance, social media giveaways…
There are much more steps we should clear out but here’s the most up-coming and important ones to announce.
What?
xSatisFinance upgrade!
V2 was actually meaning the migration for PancakeSwap’s V2 LP, but xSatisFinance is our own upgrade!
When?
Launch time: May 16th, 9:00 UTC (18:00 KST).
Mark your calendars accordingly.
xSatisFinance Flowchart
After all that explanation, here’s a reminder of how things will work on the backend. For you, the user, the farming/staking remains the same. But behind the scenes, SatisFinance is burning xSAT. This will help with our current issues with inflation and is part of the reason we are going to xSatisFinance. However, this isn’t the only upgrade is bringing, not by a long shot.
The top part is probably the most relevant to you.
Deposit Fee will be 0% for 24 hrs
Deposit fee for the new pools on xSatisFinance will be 0% from 24 hours.
▶ xSAT Pool Deposit Open: May 15th 9:00 UTC (18:00 KST)
- Deposit Fee will be 0% until xSAT Pool Farming Start
▶ Token Migration Start: May 15th 9:00 UTC (18:00 KST)
▶ End of Current Pool Farming: May 16th 8:30 UTC (17:30 KST)
▶ xSAT Pool Farming Start: May 16th 9:00 UCT (18:00 KST)
What about the Transfer Tax?
Yes, there will be transfer tax applied for removing LP, withdrawing SAT and converting SAT to xSAT. To compensate this, the conversion rate of SAT to xSAT will be set to 1 : 1.0205, meaning you will get 102.05 xSAT if you convert 100 SAT. (When you send 100 SAT to the conversion contract, the contract receives 98 SAT but calculate the conversion based on 100 SAT and you will receive 102.05 xSAT)
There’s another thing to keep in mind, there will be 2% transfer tax removed from xSAT.
Pool Revision
There will be some change on the farms and pools including changes of multipliers! The native farming pools continue to have the highest rewards.
Details will be updated soon!
The Next Step - CEX Listing and Lottery
We are also preparing all possible things we can do!
First thing is CEX listing.
We’re planning to list xSAT on a CEX, right after xSatisFinance upgrade.
In addition to that, we will add the lottery to xSatisFinance, like as PancakeSwap.
However, SBB Protocol will be removed when the lottery is added.
More details will be announced soon so keep an eye on our official channels, twitter, medium, reddit, instgram and telegram!
