xHaven Launches XVN Token

[PRESS RELEASE – Dubai, United Arab Emirates, December 12th, 2024]

xHaven, the leading digital collectibles marketplace and blockchain infrastructure provider on Flare, is thrilled to announce the launch of its native governance token, XVN. Available now on Sparkdex, a leading decentralized exchange on Flare, this milestone signifies xHaven’s evolution from a marketplace into an expansive Web3 ecosystem, empowering users with new utility and rewards.

XVN: Powering the Future of xHaven

The launch of the XVN token is a pivotal step in xHaven’s journey to broaden its horizons, offering enhanced services and a seamless user experience across its platform.

Unlocking Exclusive Utility and Rewards

XVN unlocks possibilities within the xHaven platform, offering benefits such as:

• Exclusive Discounts on Trading Fees: Lower costs to encourage more trading activity.
• Platform Rewards: Earning XVN from a dedicated reward pool for every transaction made on the platform, rewarding both buyers and sellers.
• Marketplace Rewards: Earning voting power from marketplace activity, distributed to XVN stakers through the Governance Token Distribution Mechanism.
• Incentives for Liquidity Provision: Rewards for providing liquidity on Automated Market Makers (AMMs).
• Simple Staking Rewards: Yields for staking XVN, in order to promote long-term holding.
• Governance Participation: Having a say in the platform’s future development and decisions.

Strengthening Liquidity Through Strategic Alliances

To ensure a robust and sustainable ecosystem, xHaven has forged key partnerships with industry leaders Ichi and Sparkdex.

Ichi

xHaven leverages Ichi’s innovative single-token deposit vaults to simplify liquidity provision to a more stake-like experience. These vaults enable single-token deposits into ICHI Vaults via Sparkdex, eliminating the need for both tokens to be deposited into the liquidity pool. This simplified approach to liquidity management enhances price stability, and yield opportunities, and supports xHaven’s ecosystem growth.

SparkDEX

Using SparkDEX V3.1 DEX platform, xHaven is launching liquidity pools that empower users by concentrating assets in designated price ranges. This reduces the risk of Impermanent Loss (IL).

Empowering the xHaven Community

This launch is about the celebration of the vibrant xHaven community. Since its inception in 2021, xHaven (formerly Sparkles) aimed to become a trusted platform for NFT infrastructure on Songbird and Flare. The XVN token reflects this growth, fostering active community participation and enabling users to shape the platform’s future.

About xHaven

xHaven is a leader in the digital collectibles industry on the Flare network. Dedicated to expanding the possibilities within Web3, xHaven offers a comprehensive suite of tools and services to empower its users. For more information, users can visit https://xhaven.io.

About Ichi

ICHI is a non-custodial, automated protocol that optimizes capital efficiency in decentralized finance (DeFi). By utilizing single-sided concentrated liquidity pools, Ichi simplifies liquidity provision for users across various AMMs, making DeFi accessible and efficient. For more information, users can visit https://docs.ichi.org/home.

About Sparkdex

SparkDEX is the first AI-powered Super dApp on the Flare Network, offering a seamless DeFi experience through innovative derivatives and cutting-edge user experience. Powered by AI, SparkDEX is poised to become the premier gateway for Flare-based trading, being the first to launch Perpetuals on Flare Network. For more information: https://sparkdex.ai.