xDITTO launching on Binance Smart Chain!
🗣 xDITTO is a new, non-rebasing token that will serve as a secondary asset to DITTO
✅ Allowing the DITTO community to use a greater variety of yield farms, increasing DITTO’s market cap and lowering its volatility. 👨🌾
Parallel to the xDITTO launch, we are preparing to announce additional partnerships!
— Right out of the box, xDITTO holders will be able to earn BAKE rewards on BakerySwap by staking xDITTO-BNB LP tokens!
xDITTO’s code also contains new features that will allow us to implement better governance apps and single staking later on.
📖 How does it work?
xDITTO being a non-rebasing token means that the supply is not elastic and is not affected by rebases.
$xDITTO can only be created by 🔐 locking $DITTO.
- Lock DITTO to mint xDITTO
- Burn xDITTO to redeem DITTO
- 👉 xditto.ditto.money
💱🔄🔵 Rates for minting and burning xDITTO
👉 automatically adjust when DITTO experiences a rebase
👉 xDITTO is a regular BEP20 token whose price reflects the changing DITTO market cap over time
👉 the conversion rate is adapted automatically with every rebase.
For example, assume that the initial rate is:
1 (one) xDITTO = 1 DITTO.
If there’s a 5% positive rebase in DITTO, then 1 xDITTO = 1.05 DITTO.
If there’s a 5% negative rebase in DITTO, then 1 xDITTO = 0.95 DITTO.
❎💹✅ ️The adjustments compound over time such that the price of xDITTO reflects the increase or decrease of DITTO’s market cap.
💰 What is the price?
The price of xDITTO moves in real-time with the value of DITTO. But it does *not* change during the rebase.
For example, let’s say DITTO goes to $1,25. There’s a 5% rebase.’
After the rebase DITTO price is $1.18, but the xDITTO price still $1.25.
⏰ When does it launch?
xDITTO will launch on March 30th, 2021.
xDITTO Smart Contract Address: 0xB0a1DE764A033A76f28E821fBe402EDBFEe937dB
Mint and burn xDITTO here → xditto.ditto.money
BAKE farming with XDITTO-BNB LP will start on March 30th, 2021.
We are announcing more partnerships soon ;)
Stay tuned! 💸