• Xfinite (XET) Joins Forces with Yieldly to Launch a New Staking Pool

  • On November 17th, Xfinity’s ecosystem utility token, XET, will be one of the four largest Algorand Standard Assets (ASAs) to launch a new staking pool partnership with the DeFi platform Yieldly. Other notable projects powered by Algorand include the Smile Coin Network (SMILE), the Asia Reserve Currency Coin (ARCC) from the International Blockchain Monetary Reserve, and Opulous (OPUL), among others.

    The collaboration aims to drive growth and mass adoption by allowing Yieldly and Algorand’s communities of over 10 million users to easily access the tokens. “We are excited to announce this collaboration, which will allow users to stake and claim their rewards in these pools at any time, increasing the value of the ecosystems involved.” “We hope to provide more flexibility for DeFi participants while also supporting the growth of Xfinite’s solutions,” said Yieldly founder Sebastian Quinn.

    As a result of this collaboration, Xfinite’s unique NFTs will be available to those who stake in the Xfinite pools in Yieldly’s Prize Games. “Xfinite collaborates with Yieldly to launch staking initiatives.” It is the first step in enabling various staking mechanisms for XET holders. “This partnership provides a fantastic opportunity for our community to gain access to staking rewards by leveraging the power of XET,” said Swaneet Singh, CEO of Xfinite.

    Xfinite’s utility token, XET, was recently listed on Bitmart, a globally integrated trading platform, allowing over 5 million users in 180 countries to buy and trade XET in a quick and secure transaction. MEXC Global also has a listing for XET. The future use cases for XET, the Mzaalo dApp, and Xfinite are to revolutionize digital media through innovations in customer experience, data-driven engagement, and ecosystem economics.

    Algorand, a blockchain that provides scalable, fast, and trustworthy technology, powers the Xfinite ecosystem. With blocks finalized in seconds, Algorand’s pure proof-of-stake (PPOS) consensus protocol ensures full participation, protection, and speed to its decentralized network. This mechanism removes the technical barriers that have been impeding mainstream blockchain adoption for years, while also creating a more sustainable and carbon-negative environment.

    Concerning Xfinite

    Xfinite is a blockchain-powered platform powered by Algorand that aims to restore trust between consumers, content creators, and publishers. The utility token XET, which is the native currency of the Xfinite ecosystem, is listed on Bitmart and MEXC. The Xfinite ecosystem aids the media and entertainment industries in combating advertising fraud by increasing transparency and fostering a new engagement habit. Its first application is the dAPP Mzaalo, a decentralized video on demand (VOD) application available on iOS, Google Play, and the web. Mzaalo has 12,000 movies to choose from, including Originals and Live TV.

    Concerning XET

    The XET token is the Xfinite ecosystem’s native currency. It is based on proof of engagement, which means that the more users interact with the token via Xfinite’s use cases, the more incentives they earn. XET serves as a one-of-a-kind value exchange and governance mechanism for all stakeholders, including users, brands and influencers, and content creators. The Algorand blockchain was used to create the XET token because it is cost-effective at scale and thus ideal for microtransactions. The average cost per transaction is less than $0.001. In addition, Algorand is a world leader in carbon-negative technology.

    What's your reaction?