While The Rest of The Crypto Markets Are Stagnant, This Altcoin Explodes 170% In A Matter of Days.

Even as the wider markets trade sideways, a decentralized finance (DeFi) crypto asset established on the Binance Smart Chain (BSC) is booming.

Xido Finance (XIDO) is an automated market maker (AMM) with a limited supply of 100,000,000 XIDO tokens that provides liquidity providers with yield-farming incentives.

According to the whitepaper for the AMM project:

“XIDO Finance is a decentralized AMM with yield farming incentives, no mints, and a unique token distribution design. XIDO Finance is powered by XIDO token which adds a governance layer and powers the self-sustaining pools and farms without ever minting a new token.”

The initiative launched in the third quarter of 2020, with the XIDO token releasing last June and reaching a high of $481 before falling drastically.

According to Xido Finance, their mission is to “drive the creation of a fully transparent, community-owned, and open-source Oracle platform.”

Xido recently stated that its native token was now accessible in the Binance Coin (BNB) trading pair on the PancakeSwap (CAKE) exchange.

Xido Finance had been trading flat for months until skyrocketing in a series of leaps beginning on March 3rd.

In 48 hours, the value of the cryptocurrency than quadrupled, rising from $5.57 to more than $15. At the time of writing, the price of XIDO is still $15.00.

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Patrick

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