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LandX “Dress Rehearsal” Testnet Launch

Project details

LandX bridges the gap between farmland owners and crypto investors by providing tokenized agricultural commodity vaults (‘xTOKENs’), where holders of the staked tokens receives a daily yield of the underlying real-world agriculture commodity in perpetuity.

There is no exact start time for this event, only that is on December 5.

  • Launch Details
    • The dress rehearsal is the final test before mainnet goes live
    • The launch will take place on Ethereum’s Goerli testnet
    • The launch is divided into 2 stages;
      • LNDX testnet token launch – a testnet LNDX/USDC liquidity pool will be set up on Uniswap
      • LandX testnet protocol launch – users will be able to stake LNDX tokens on the platform
    • A testnet faucet will be setup for users to request testnet tokens
    • Prizes will be given to the top 11 traders, based on the percentage return made in the newly minted USDC during the competition. Prizes include; real USDC, LandX swag, Omega role (grants whitelist for mainnet launch)
    • More information can be found here
  • Tokens
    • LNDX – native token of the LandX protocol. LNDX holders receive a share of protocol fees, have governance rights, and LNDX stakers are eligible to become validators for LandX
    • xTOKEN – represents perpetual agriculture commodity vault; e.g. xWHEAT, xRICE, xSOY. An xTOKEN holder receives daily commodity yield (~0.0027 kg/day), which represent 1 kg/year of the underlying commodity. Yield can be claimed anytime in USDC
    • cTOKEN – commodity yield is distributed to xTOKEN stakers in cTOKENS
    • xBASKET – index fund that represents a basket of equally weighted xTOKENS; i.e., 1 xBASKET = 0.25 xWHEAT + 0.25 xRICE + 0.25 xCORN + 0.25 xSOY
    • xUSD – stablecoin backed by XTOKENS via the xBASKET index
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