xSLIM tokens are important aspects of the Solanium ecosystem because the holders of these tokens are eligible to enjoy a lot of incredible features. Holders of xSLIM tokens can get involved in IDOs, and share other benefits that are available.
xSLIM is the token given to users once they stake SLIM-LP or SLIM tokens for a specific lock-time. The highest period that can be chosen is one year. Users are allowed to extend their staking period once they get to the end of the period, but they are not allowed to access the SLIM tokens until after the staking period. Immediately they stake their SLIM tokens, they are given the xSLIM tokens. The quantity of xSLIM token that is given to a user is determined by the amount of tokens they staked and the staking period they chose. For those that stake SLIM, they are given 1x multiplier.
SLIM-LP token holders are also given xSLIM tokens once they stake. Usually, SLIM-LP tokens are rewarded to Liquidity Providers in the SOL-SLIM Pool on Raydium. When SLIM-LP tokens stake, they are given a 2.5x bonus multiplier. It is important that liquidity providers consider the risk of Impermanent Loss before they offer liquidity.
xSLIM tokens can't be transferred from one user to the other on Solanium. The higher the xSLIM tokens that a user has, the higher the tier they belong to, and the greater the chance that they will have allocations. Community members that want to have guaranteed allocations should stake more SLIM tokens to get enough xSLIM tokens that they can use in getting to the necessary tier. Doing this makes it easy to get into the IDO of their choice without jumping through hoops.
What is Solanium?
Solanium is an encompassing ecosystem based on the Solana blockchain and boasts of high scalability. It has a launchpad and a decentralized exchange. As an IDO platform, crypto startups can launch their services to the world and the teeming users on Solanium, and end up raising funds for the different projects.
Through Solanium, investors are allowed to invest on different projects, and it creates a safe haven go get involve in the public token sale of projects to earn maximum profits and minimum risks.
Solanium's launchpad is designed to easily be used by anyone whether they have in-depth knowledge of blockchain technology or not. The user interface is top notch and it leads to an awesome user experience. With its teeming community members, projects are able to launch easily and enjoy patronage from users.
In the future, Solanium intends to be one stop shop for the decentralized finance ecosystem, meaning that it will possess a decentralized exchange, multiple wallets, a portfolio management mechanism and a launchpad.
For users to participate in the popular launchpad, they have to be an active member of Solanium. They are expected to hold xSLIM tokens, which is earned by staking before they can get involved in IDOs. xSlim token is the non-transferrable governance token of the platform.
