💱eGLD Liquid Staking

The XOXNO Liquid Staking Protocol is a decentralized, efficient, and user-friendly liquid staking solution on MultiversX. It empowers users to stake EGLD and receive its liquid representation, xEGLD, which can be:

• Utilized across DeFi applications.

• Traded.

• Held for flexibility.

The protocol resolves challenges in other liquid staking protocols by:

• Optimizing delegation distribution.

• Improving decentralization.

• Enhancing liquidity for both providers and users.

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Limitations of Traditional Staking

• Locked Funds: In Proof-of-Stake (PoS) systems, tokens are locked for a set duration to earn rewards, similar to fixed-term bonds.

  • Issue: This approach ensures steady returns but sacrifices flexibility.

  • Impact on Investors: Token holders cannot access their staked funds to explore higher-yield opportunities within the DeFi ecosystem, leaving portfolios illiquid and untradeable.

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Key Problems Solved by XOXNO

1. Delegation Centralization:

   • Other protocols often concentrate staking on a few providers, undermining the health and decentralization of the ecosystem.

2. Manipulatable Delegation Strategies:

   • The lack of safeguards allows unfair provider selection, enabling large players to control delegation toward their own validators.

3. Inefficient Stake Redistribution:

   • When un-delegation occurs, it heavily impacts a single provider, destabilizing their nodes.

4. Frequent Updates and Transaction Spam:

   • Other protocols rely on admin wallets for frequent updates, leading to excessive transactions and reliance on centralized control.

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What XOXNO Brings New

XOXNO offers an innovative approach to solve these challenges:

1. Efficient and Fair Delegation:

   • Delegations are accumulated daily and distributed to multiple providers at set intervals, avoiding centralization.

2. Batch Un-Delegations:

   • Un-delegations are processed in batches, reducing strain on individual providers.

3. Open Participation:

   • Providers can join freely without constraints, fostering inclusivity and decentralization.

4. Autonomous Protocol Updates:

   • Updates happen autonomously using public endpoints, reducing:

     • Admin interference.

     • Excessive transaction spam.