Xfinite’s ecosystem utility token, XET, is one of the four largest Algorand Standard Assets (ASAs) to launch the new staking pool partnership with the DeFi platform Yieldly on the 17th of November. The multi-asset pools also include other outstanding projects powered by Algorand: Smile Coin Network (SMILE), the Asia Reserve Currency Coin (ARCC) from the International Blockchain Monetary Reserve, Opulous (OPUL), among others.
The partnership aims to drive growth and encourage mass adoption, allowing Yieldly and Algorand’s communities with more than 10 million users to easily access the tokens. “We are thrilled to announce this collaboration that will enable users to stake and claim their rewards at any time in these pools, enhancing the value of the ecosystems involved. We hope to bring more flexibility for DeFi participants and support the growth of Xfinite’s solutions”, said Sebastian Quinn, founder of Yieldly.
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With this collaboration, Xfinite’s unique NFTs will also be available in the Yieldly’s P**** Games to those who stake in the Xfinite pools. “Xfinite partners with Yieldly to kick start staking initiatives. It’s our first step towards enabling different staking mechanisms for XET holders. This partnership presents a great opportunity for our community, to access staking rewards by leveraging the power of XET”, said Swaneet Singh, Xfinite’s CEO.
Xfinite’s utility token, XET, was recently listed on the globally integrated trading platform, Bitmart, allowing more than 5 million users across 180 countries to buy and trade XET in a fast and secure transaction. XET is also listed on MEXC Global. Through XET, the Mzaalo dApp, and Xfinite’s future use cases, are to revolutionize digital media through innovations to customer experience, data-driven engagement and ecosystem economics.
Xfinite’s ecosystem is powered by Algorand, a blockchain that offers scalable, fast, and trustworthy technology. Algorand’s pure proof-of-stake (PPOS) consensus protocol ensures full participation, protection, and speed to its decentralized network, with blocks finalized in seconds. This mechanism removes the technical barriers that for years were in the way of mainstream blockchain adoption, at the same time that builds a more sustainable and carbon-negative environment.
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