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Permissionless Trustless Decentralized Exchange

Launch your project on Xchange with 10-1000x the initial liquidity across multiple blockchains where anyone can Swap, Borrow and Lend!

X7 Finance·Trust No One. Trust Code. Long Live DeFi.
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October 2022
on-chains

oct-22-2022 06:10:11 am utc

https://etherscan.io/tx/0x3cf8788198800424b55faa7279ce456f15e4d7856f379b89b3d75554cc2ee9d2

GM or GN.

A brief explanation of some of the next on chain activity.

In order to ensure early success of the lending pool, the Ecosystem Splitter has been allocating 20% of the ETH that is received into the Ecosystem Splitter to a lending pool escrow. This escrow amount is just over 9 ETH. Once we deploy the lending pool contract, those funds (and a portion of all ecosystem revenue from all sources) will flow into the Lending Pool contract.

We have increased the allocation to 50% and reduced the allocation into the liquidity hubs to 10% each (these are the maximum and minimum values permitted by the contract). This will help build up the lending pool more quickly, which we think will pay dividends to the ecosystem.

https://etherscan.io/tx/0x4a4d33804ef7efc89085b274d3243304d5ed0b2662682d2af422a5c8fd61a340

This is the flexibility that is baked into the X7 Ecosystem. These kinds of changes will be managed by DAO governance in the future.

Additionally, there was an existing bug in the X7 Treasury Splitter (for which we had implemented a short term workaround). But in order to support the Pioneer NFT reward pool, we first needed to upgrade the X7 Treasury Splitter to remove the bug.

The address for the new X7 Treasury Splitter (v2) is:

0x70006B785AA87821331a974C3d5af81CdE5BB999

Once we properly configure the new Treasury Splitter it will replace the existing one.

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