Rewards
Last updated
Last updated
The Reward Distribution System is crafted to foster engagement and participation within the CrossFi ecosystem. Participants may be rewarded with ETH, XFI, and esXFI. These rewards are issued as a direct benefit to users who actively contribute to the ecosystem’s vitality.
Rewards are accrued from multiple streams within the ecosystem:
Trading Fees: Users can earn rewards from the trading fees that are collected from CrossFi asset pools on the CrossFi Chain. These fees are redistributed to incentivize and reward active traders and liquidity providers.
Foundation Stake: The CrossFi foundation stakes MPX which release XFI as rewards, users can receive these rewards in the form of esXFI (escrowed XFI), which can be redeemed for XFI by users who are willing to lock their lpXFI for a predetermined period. This mechanism encourages long-term engagement and contributes to the stability of the platform.
The primary function of the rewards claiming feature is to allow users to extract the rewards and value accumulated earned through Staked LP tokens, Foundation rewards, and trading fees. This function is integral to ensuring that contributors are duly compensated for their participation.
Follow these steps to claim your rewards:
Access the Rewards Section: Log in to your account and navigate to the ’Rewards’ section of the platform. This is typically accessible from the main dashboard.
View Available Rewards: Upon reaching the Rewards section, you will be presented with an overview of all the rewards that you have accumulated. This includes a detailed breakdown of rewards by source, such as Foundation stakes, and trading fees.
Claim Your Rewards: After reviewing your available rewards, you can proceed to claim them. By clicking on the ’Claim’ button, your rewards will be transferred to your wallet, adding to your claimable balance.
Confirmation: Once you have claimed your rewards, a confirmation message will appear, and your wallet balance will update to reflect the newly claimed assets.
