ElonMaxxX: DeFi Meets the MemeCubator
Introducing The EMAX Farming Ecosystem.
In our first medium article, we introduced the vision and roadmap from our team at ElonMaxxX.
Our vision: To be the very best meme and NFT project launchpad; through our development team and community, launching first on Binance Smart Chain, then, expanding into other blockchain ecosystems. Only carefully vetted and team-selected projects will be launched on our protocol, minimizing risks to our users from unscrupulous practices, widespread in the yield farming space.
Our development team has been meticulously building out our farming ecosystem on ElonMaxxX.finance. The farms are currently in alpha testnet, so be sure to follow our socials to receive notification of their launch and enjoy the best APY by being first in the pool!
$EMAX, our flagship token, is a simple governance token representing a holder’s equity share in the protocol. The utility of the protocol prompts users to hold and benefit from the coin as we continue to develop and expand our protocol. The initial method of rewarding our holders is to provide a farm where $EMAX can be staked.
Why Farms?
Liquidity is an important aspect for all financial assets, especially for community centric projects that do not have large backing from investment firms. Liquidity provision for $EMAX and $JETT will adhere to more traditional DeFi practices, as such we won’t be implementing the burn and redistribute mechanisms that are a current trend amongst most BSC coins. While this pulls away from the innovative mechanics that Reflect Finance (RFI) presented during “DeFi Summer”, we believe, that liquidity providers (LPs) should be rewarded rather than penalized. We want to follow the mold of more successful, and in our view, more long term viable DeFi protocols. LPs, who are farming $JETT, will have the opportunity to be the first participants in relation to NFT minting and our IDO selections.
The introduction of the $JETT farm is a pivotal moment on the EMAX roadmap and we are very excited to work with LPs to implement the first farm on the MemeCubator; ElonMaxxX.
Why Farm with EMAX?
A variety of pairs and single sided staking will be available to users who wish to put their valuable $EMAX to work! For simplicity’s sake, our first farm will be for the BNB/EMAX pair where liquidity providers will stake EMAX/BNB and receive Jettison ($JETT) tokens. Unlike many other farms in DeFi — where the rewarded coins are useless and exists only to be dumped on the market, our $JETT tokens will have two uses within our protocol, with further utility coming as we continue to progress through our roadmap. Minting NFTs and purchasing allocations in our IDOs initially will be the primary use of $JETT tokens. Users that want to participate in NFT minting or carefully curated IDOs, will want to accumulate $JETT as our protocol continues to expand.
When?
Our developers are working diligently to bring our first farm to market on or before June 1!
How do I participate?
To take part in our farms you will need to purchase $EMAX on PancakeSwap. Please see our purchasing guide on our website.
In addition, the team runs regular competitions and giveaways to increase the number of $EMAX holders and reward our growing community of MaxxXis.
Come and join our friendly community on telegram and follow us on twitter to stay up to date and to have a shot of becoming a proud $EMAX holder.
