P H O Ξ N I X
TL;DR
Xswap, a decentralized exchange, appears to have an airdrop in the works, according to the latest buzz. They have announced an $XSWAP token, which will be the reward. Additionally, they have implemented a points system that users can take advantage of.
If you need to swap or bridge assets between networks, it may be beneficial to consider using the Xswap platform. By doing so, you can start accumulating points within their system.
The Xswap points page also features a few social quests that allow users to instantly earn 200 points.
It’s worth monitoring.
This is an easy one, just head to Xswap and use their swapping and bridging services.
What is Xswap?
In the dynamic world of decentralized finance (DeFi), the quest for seamless interoperability and fluid liquidity across diverse blockchain networks is paramount. Enter XSwap, a cutting-edge platform designed to revolutionize the DeFi landscape by enabling efficient cross-chain transactions. With its integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP), XSwap stands at the forefront of facilitating secure and streamlined liquidity movements between different blockchains.
Xswap supplies swapping and bridging services on the following blockchains:
Ethereum
Base
Arbitrum
Optimism
Polygon
Avalanche
Full information and a roadmap can be found in their whitepaper.
The Airdrop
Back in March, they posted on X (Twitter) that “Every point matters“ however this went largely unnoticed.
https://x.com/xswap_link/status/1767632017284293105
It is now beginning to to gain a bit of traction thanks to Layer3 and sources close to the project have claimed that “rewards are planned in the near future”.
They have published tokenomics for an $XSWAP token in their whitepaper, with an allocation for an airdrop.
The $XSWAP token will have a total supply of 350,000,000 with an initial circulating supply of 39,812,500 respectively.
2% or 7,000,000 of $XSWAP has been allocated to the airdrop (TGE: 50%, Vesting: 1 month)
Full details on how points will be translated to $XSWAP have yet to be disclosed.
Points
They have a points based system which you can manage on their website.
Volume of Swaps: The total dollar amount of all swaps conducted by the user.
Number of Swaps: The total number of swap operations performed by the user.
Transaction Count Bonus: Additional points awarded based on the number of transactions made by the user.
Completing Quests: Bonus points awarded from completing quests.
Referral Bonus: A percentage of the volume of transactions from direct referrals.
Base Score Calculation
Base Score = Volume of Transactions + Transaction Count Bonus
Total Score Calculation
Total Score = Base Score + (15% * Volume of Transactions from Referrals)
How to claim?
Collecting points is pretty straightforward, simply swap and bridge on Xswap.
Your points can be monitored on the points page.
There are also some social quests that you can complete for an instant 200 points and a referral system (15%). These can be found by scrolling down on the points page. As of writing, it is unknown if they will release any more quests.
Swap, bridge, quest and refer and watch your points accumulate. That is all that is needed.
Conclusion
While the Xswap airdrop might not be a massive airdrop, it is definitely worth adding to your list, it all adds up. It is certainly worth using the service for something that you already do anyway, you may as well get rewarded for it. Speed is quick, fees are fair and I do not see any real reason to fade this one. The team appears solid and capable and this service is still very young, so who knows where it may lead. It’s worth getting in early, for very little effort, for sure.
DISCLAIMER: Please be aware that there is inherent risk associated with endeavors like this. Factors such as exploit vulnerabilities, rugpulls, contract risks, and liquidation events are always present. While we provide information, it is crucial to understand that any actions you take based on this information are entirely your own decision. We assume no responsibility if outcomes do not align with your expectations. Proceed with caution and conduct thorough research. Additionally, keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.
AFFILIATES: This article may contain our affiliate links, and we would greatly appreciate it if you use them to show support for the time and effort we’ve put into gathering information and creating these articles. Your support means a lot to us! 😊🙌
