CrossFi (MPX) Staking

About Cross Finance (XFI/MPX)

CrossFi is a hybrid decentralized finance (DeFi) and traditional finance (TradFi) platform designed to bridge the gap between fiat and cryptocurrency services. By integrating the Cosmos SDK and Ethereum Virtual Machine (EVM) frameworks, CrossFi offers a comprehensive suite of financial tools that cater to both crypto enthusiasts and conventional banking users.

The platform's native tokens, MPX and XFI, serve multiple functions within the ecosystem:

• MPX (Mint Power): Acts as both a governance and utility token, enabling users to participate in decision-making processes, stake for network security, earn XFI rewards, and cover transaction fees for Cosmos-based services.
• XFI (CrossFi): Serves as the primary utility token for the EVM segment of the CrossFi ecosystem, granting access to various DeFi applications and services, including those within the CrossFi xApp. Additionally, XFI functions as a means of payment within the CrossFi App, seamlessly integrating with fiat currencies for real-world transactions.

What Makes CrossFi Special?

CrossFi introduces several innovative features that distinguish it in the blockchain landscape:

• Hybrid DeFi and TradFi Platform: CrossFi bridges traditional finance and decentralized finance, offering services that integrate fiat and crypto, providing a unified financial experience for users.
• Cosmos and EVM Compatibility: The platform uses Tendermint Core and Ethermint to support both Cosmos and Ethereum ecosystems, enabling seamless interaction between different blockchain networks.
• High Transaction Throughput: CrossFi's architecture is designed to handle up to 10,000 transactions per second, ensuring fast and efficient processing suitable for a wide range of financial applications.
• Comprehensive DeFi Suite: CrossFi offers a suite of DeFi services, including crypto banking, payments, staking, and synthetic asset management, providing users with a holistic financial experience.
• CrossFi App and xApp: The CrossFi App provides a non-custodial wallet for crypto management and real-world payments via VISA cards, while the xApp supports advanced DeFi features like staking, bridging, and token swaps.

XFI/MPX Staking FAQ

How much can I make staking XFI/MPX?

The return from staking XFI/MPX varies based on the network's overall staking participation and specific validator commission

How do I receive my XFI/MPX rewards?

XFI/MPX rewards need to be claimed. Visit the XFI Console to claim your rewards: https://xficonsole.com/

When can I start earning rewards with XFI/MPX?

You can start earning staking rewards once your XFI/MPX tokens are successfully delegated to a validator

Can I sell XFI/MPX while it is locked up?

Staked XFI/MPX tokens cannot be sold, they need to be unstaked first. The unstaking period for XFI/MPX is 15 days

What are the risks around staking XFI/MPX?

Staking XFI/MPX comes with risks like slashing (penalty for a malicious validator), price volatility, and liquidity risk (inability to sell during the lock-up period).

What consensus algorithm does Cross Finance use?

Cross Finance is based on the Cosmos SDK and CometBFT proof-of-stake consensus protocol.

What are the tokenomics of XFI/MPX?

Read all about XFI/MPX tokenomics here