March of this year saw the Conflux network making a major transition to a hybrid PoS/Pow system. This hard fork has opened a new opportunity to stake your CFX on the validation network and earn a reward. The only problem is that the CFX must remain staked in a PoS pool to earn the reward. That means the CFX cannot be used for anything else while it is staked. Additionally, it takes 7 days to stake CFX with a minimum of 1,000 CFX on top of a 7-day withdrawal period. This is where we step in. We are proud to announce Nucleon, a liquid staking solution incubated by Conflux.
Nucleon and xCFX: A New World of Freedom
Nucleon allows users to stake their CFX in PoS pools to continue earning rewards yet still remain liquid. In exchange for the staked CFX, users will receive xCFX. xCFX represents your staked CFX tokens in addition to the accumulating staked reward. xCFX allows users the freedom to remain liquid. This means users can spend xCFX similarly to how CFX would be used if it wasn’t staked.
Better yet, there are no lock-ups when staking with Nucleon. The only requirement is a minimum deposit of 1 CFX. That’s only .1% of the usual staking requirement for Conflux. Add in the fact that Nucleon users can receive xCFX the same day as staking makes this a real gamechanger for PoS stakers.
Ideally, xCFX holders can trade it for other tokens, provide liquidity to others, provide loans to others, and even use it as collateral for borrowing. The possibilities really become endless because you, the user, can do whatever you want! For a full breakdown of how xCFX works with CFX check out our guide here.
We believe Nucleon will provide a vital role in the future of Conflux’s Defi ecosystem. Users will still be able to stake in PoS pools to earn a base yield and leverage other protocols to maximize the potential yield.
Introducing NUT: The Governing Token of Nucleon
NUT is our governing token for Nucleon. Holders of NUT will be able to vote on how to use treasury funds (derived from transaction fees) as well as boost staking rewards. Even more exciting, there may be an IDO in the near future for NUT… Users will have to stay tuned for more details.
Join Us
We feel Nucleon is pivotal for the future of the Conflux ecosystem. Giving stakers in PoS pools liquidity will allow users to maximize their yield by using other protocols. Nucleon will be part of the core experience for users and the many emerging Conflux protocols. Come join us at the center of the action.
👉Join the Nucleon community!
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