XDEFI Wallet launches utility token, holders can earn, stake tokens, claim fee rebates

XDEFI Wallet’s new utility token, $XDEFI, was designed by Delphi Digital, who are behind $AXS, $YGG, and $PERP. The token to be launched will power the broader XDEFI Wallet ecosystem, including funding promising new NFT and DeFi projects, Invezz learned from a press release.

$1M from IDO invested in xchain.js development

$XDEFI holders will be able to earn by learning more about DeFi and DeFi tools, stake their tokens, participate in governance systems, and claim fee rebates. Moreover, the sum of $1 million from the Initial DEX Offering (IDO) will be granted to develop xchain.js growth.

XDEFI Wallet CEO Émile Dubié said:

We are thrilled to announce the $XDEFI token. $XDEFI will be at the core of the XDEFI Wallet ecosystem and create a long-term incentive for the community to build around the wallet. We will also leverage the token to create an educational framework around DeFi and NFTs to improve knowledge about web3 and encourage wider adoption.

IDO scheduled for early November

$XDEFI, an ERC-20 utility token, will be distributed at the beginning of the next month in an IDO on SushiSwap’s (SUSHI/USD) launchpad MISO. MISO is open-source based and was created to alleviate the process of launching a new project on SushiSwap.

Innovative Ape Mode guarantees high speed

XDEFI Wallet is a browser wallet that enables very high transaction speeds. The main reason is the novel “Ape Mode” feature, which guarantees each transaction will enter the next block to 99%. XDEFI Wallet offers native integrations on a number of EVM networks, including Terra (LUNA/USD) and Ethereum (ETH/USD).

XDEFI Wallet features Buy Crypto option

The wallet also offers a “Buy Crypto” option, making it possible for users to bring their fiat into DeFi through Ramp, a third-party provider, as well as automatic NFT detection and a display grid you can customize.

It recently raised $6 million from a host of leading investors such as Alameda, CoinGecko, Mechanism Capital, Sino Global Capital, DeFiance Capital, Morningstar Ventures, and Animoca Brands as well as DeFi proponents like Mark Zeller and Darren Lau.