This article was first published on NEM
NEM Group and StakeHound are excited to announce that stakedXEM will go live on Ethereum on the 7th of December.
NEM’s partnership with StakeHound will see the launch of the stakedXEM on the 7th of December - creation of a wrapped XEM token via a liquidity bridge to the decentralized finance (DeFi) ecosystem on Ethereum.
The partnership makes it possible for XEM holders (and in the future Symbol XYM holders) to:
- Receive the yield of the native token, payable in stakedXEM
- Use stakedXEM as collateral in the DeFi ecosystem as with Ethereum tokens
- Reclaim the native token at any time, along with the yield earned on stakedXEM
All of the above is achieved with regulatory approval, fully insured custodial services and a well respected node hosting provider with years of experience in NEM technology.
The stakedXEM HUNT is on!
To celebrate the launch of StakeXEM, Stakehound is launching the HUNT - a special event that allocates Hound tokens as a bonus to anyone who participates. All you need to do to qualify is sign up early for your StakedXEM. To be an early bird and to receive your Hound tokens, find out more about the HUNT here.
How to join the stakedXEM HUNT and where to start!
The process of acquiring the stakedXEM is simple and secure. users simply need to transfer their unstaked XEM coins to StakeHound and receive the same number of stakedXEM ERC20 by the token launch on the 7th of December.
Just fill out this form to join in.
You can learn more about the stakedXEM and the HUNT on StakeHound’s website.
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