A new liquid staked $eGLD is just around the corner.

Get ready for a game-changer in the liquid staking world! XOXNO is launching $xEGLD, a new way to stake your $eGLD that brings some exciting improvements over traditional staking & other LS derivatives like Hatom’s sEGLD.

XOXNO is ready to unveil $xEGLD — its new liquid staking solution for eGLD.

We already know Hatom’s sEGLD. $xEGLD is somewhat similar to sEGLD, having the following properties:

• It is obtained by staking eGLD with validators (providers);

• It generates rewards based on the overall APY of the providers;

• It is liquid, meaning that:

● it can be sent to another wallet or sold instantly (e.g., on ASHSWAP);

● it can be used in DeFi (farming, liquidity provision, supplied as collateral, borrowed against collateral, used in leveraged positions).

But, XOXNO’s $eGLD liquid staking solution comes with some improvements:

• For #MultiversX network: •Increasing network’s decentralization and security. eGLD is staked with providers that have better APRs, fewer nodes, and bigger capacity, while eGLD is unstaked from providers with lower APR, more nodes, and less capacity. Thus, making the network more decentralized and secure.

• For providers: • 60 providers were selected and whitelisted randomly based on some limitations such as minimum nodes, minimum APY, and also the capacity limit. They don’t need to take any actions to get whitelisted; XOXNO selects them on its own.

• The amount of eGLD waiting to be staked is split evenly among top APR providers, but other requirements are also added, like node counts and total stake.

• The amount of eGLD waiting to be unstaked is split evenly among the lower APR providers, but other requirements are also added, like node counts and total stake;

• Providers earn the fee they’ve already set; there are no additional fees, taxes, or requirements for them;

• The provider can choose which service fee it wants, but a better APR counts more when choosing where to stake eGLD.

•For users: • It introduces the feature to instantly unstake EGLD (with 0% fee) if needed, based on an amount available in a buffer. To explain it simply, XOXNO uses the inefficiency of traditional staking to help users access EGLD instantly and fee-free. Once we stake an amount of eGLD, we only receive staking rewards once the epoch changes. This way, XOXNO’s liquid staking smart contract isn’t staking eGLD instantly upon receiving a transaction. Instead, it stores eGLD until the end of the epoch, creating a buffer. The amount of eGLD stored during this time (in the buffer) can be used to unstake eGLD instantly on a first-come, first-served basis.

• Appealing APYs, as some 0% fee providers will join the list.

• Easy transition from Hatom’s LS derivatives to xEGLD. If you are a sEGLD, hEGLD, or even an hsEGLD holder and want to move to xEGLD, XOXNO has you covered. It introduces the migrate feature where you can choose what type of asset you want to convert to xEGLD. XOXNO does all the hard work in the background (removing collateral, removing supplied assets, and even unstaking it), with no swap fee included. Using this feature, you receive your xEGLD instantly.

At this stage, you will only receive staking rewards auto-compounded in the xEGLD token. However, you can use your xEGLD in ***Bober Lend*** once it’s available (SOON).

Bibliography: 1. GhitHub 2. Hatom docs 3. XOXNO devnet

Stay tuned for more info.

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