Last Friday December 18 StakeHound launched its second wrapped token stXEM with 2 running supernodes and $2 million in the liquidity pool for the stXEM-ETH pair.
We are exited to announce that Liquid Staking is now available for the entire NEM community with stXEM being launched. Last Friday all who participated in the HUNT — a special early-bird marathon for stXEM held by StakeHound received their staked tokens in their wallets as well as already saw their balances increased with the first supernode rewards. They will also get bonus HOUND tokens in the Q1 2021.
We have launched with more than 6 million stXEM in total supply and 2 running supernodes which generate on average 4.5% annual reward for all stXEM holders regardless of the amount they actually own. With the usual requirement for NEM holders to own 3 million in XEM in order to be able to set up a supernode and start getting rewards not many in the community could have supported the network security and actually benefit from it.
“As the NEM community prepares for the imminent Launch of Symbol ($XYM) we are pleased to announce continued growth of the NEM Ecosystem. It’s fantastic to see Stakehound combining Staking as a Service and wrapped token issuance into one product stXEM” — says Iain Wilson, CFO of NEM Group.
And as StakeHound does participate in the opt-in we can’t wait to launch stXYM which will be distributed on the day of the snapshot to all the stXEM holders.
On top of that 2 million stXEM-ETH liquidity pool was launched, supporting the liquidity of the wrapped asset on Uniswap. Anyone can support and take part. The liquidity pool generates extra yield of 0.3% of all the trades of this pair. All the earnings are added to the pool in real time and are proportional to one’s share.
And there is nothing easier than getting your stXEM today and starting to earn your passive income both from staking and by providing liquidity. Starting Friday the token can be bought on Uniswap with just a few clicks and instant transaction. At the same time those interested in extra perks such as free HOUND tokens and arbitrage trading can always onboard with the StakeHound Platform directly.
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