This is not my first Ditto rodeo and I personally believe I have enough knowledge to talk about it! Before I start talking about xDitto, feel free to familiarize yourself with Ditto, the first elastic token on Binance Smart Chain!
If you don't like reading than you can easily watch this video I created with @MoreGainStrategies!
Ditto can translate price-volatility into supply-volatility, and the number of $Ditto automatically increases or decreases based on the price, creating dynamic rebases. Ditto can rebase up to six times a day, for an easy maintained peg.
xDITTO is a new product launched by the Ditto team, as a BEP-20 non-rebasing token that will serve as a secondary asset to DITTO. It was created to give Ditto holders a wider use for yield farming and to consolidated DITTO, increase the market cap and offer market stability. DITTO will be locked for xDITTO to be created.
The xDITTO announcement contained a partnership with Bakery Swap and a xDitto-BNB LP. xDitto could be minted and staked for a NFT reward.
Because xDITTO can only be created by locking DITTO, I went to xditto.ditto.money to mint my tokens. Was easy to connect with Metamask and the process is easy and straight-forward. I had 192.90 DITTO which were locked and minted 213.65 xDITTO.
Hit the "MAX" button, than "APPROVE MINT", confirmed on Metamask and boom ... successfully minted xDITTO. Followed the instructions and refreshed the page. The xDitto stash was waiting to be staked.
Went to Bakery Swap and deposited the xDITTO for a really low transaction fee. This kind of transactions fee are the reason why most of my DeFi staking moved to Binance Smart Chain.
The staking process took less than 10 seconds. The xDITTO must remain staked for 9 days and nearly 9 hours to receive the Ditto NFT.
Nearly two weeks later I went back to Bakery Swap to claim my NFT. I was looking for the xDitto pool and I couldn't find it. I than looked for it in the inactive pools tab and there it was. Checked the pool and the only option I had was to unstake. No NFT to claim ... no reward for staking xDitto for days in there.
Took the xDitto out and burned them to claim my Ditto back. I deposit them at AutoFarm in a pairing with BNB. Not sure how the pool and multipliers are working, but in 3 days it earned $0.27.
DITTO is cool ... DITTO is bossing on Binance Smart Chain! xDitto is new but until now I am utterly disappointed for not being rewarded with the NFT. Not much can be done with Ditto at the moment except few LPs on some platforms, and nothing that can be done with xDitto after the NFT Pool on Bakery Swap was closed. Was a good idea for an experiment but the whole process wasn't explained clearly. If the time I staked was already to late to receive the NFT, than why I didn't received a notification and I was left to stake it for no reward? Right now is not worth it to mint xDitto, as it has no utility. Hopefully the future will bring some options.
DeFi bounty at CakeDeFi with $30 DFI for new users