XY Finance Polygon includes products, related to Web3 and Metaverse, and the XY Token is the heart of the XY DAO and the protocol itself.
About the project and the XY Finance Polygon token
XY Finance — a decentralized universal cross-chain aggregator that uses state-of-the-art technology to provide users with a seamless experience of connecting tokens and optimally transferring crypto assets, helping to collect the best routes for tokens.
The XY token — the project's native utility and governance token, which has the following current and planned features:
| Betting incentives | XY token holders will be able to stake their tokens on the protocol and act as a catalyst to increase the reward for provided liquidity up to 2.5x. |
| Liquidity mining | Liquidity providers can stake their assets in Pool Y to receive xyTokens such as xyUSDT. |
| Control | XY token holders will be able to participate and vote in the governance of the platform. |
XY Finance provides an official bridge for XY Token to cross supported chains. Supported by consensus, users can easily and securely deposit assets and earn rewards across multiple chains. The total supply will be 100,000,000 XY tokens, which will be minted without the possibility of future inflation. Tokens will be distributed as part of the Token Generation Event (TGE).
X Swap and X Pool products
X Swap serves as an atomic swap-based aggregator that supports various token exchanges across a unique blockchain ecosystem with the least possible disruption (without the involvement of an intermediary or central authority).
Users only need to enter the token they want to exchange and send the transaction to the source chain field. The following cross-chain processes will happen automatically correctly, and the exchange to the target chain will be sent by the protocol soon after.
Instead of using the idea of market makers, XY Finance creates Y pools across all networks it supports. Users can decide if they want to deposit their funds to increase liquidity. Liquidity will help to balance the Y pool, while token contributors or liquidity providers (LPs) will be rewarded with incentives (liquidity tokens as swap fees) in return as they swap through X Swap.