How does it work

Rewards and Rebasing

Only KYC'ed users with whitelisted wallet addresses are eligible for reward distribution.

To ensure fair distribution of rewards, Excellar will account for the fraction of a day holders have their XUSD using a block-by-block calculation, then distribute the rewards accordingly. This calculation mechanism allows XUSD to be used both as a payment and a saving instrument.

  • holding_period is calculated as the number of blocks XUSD is held over 24 hours.
  • reward_rate is set by Excellar based on the market environment and underlying assets. For example, a reward_rate of 0.013368% is equivalent to a 5% APY: (1 + 5%)^1/365 - 1 = 0.013368%
  • Reward calculation is done throughout the day upon any change in balance as balance * reward_rate * holding_period.
  • The calculated reward is "checkpointed", i.e. stored in the smart contract as the amount owed to the respective holder until explicitly claimed by said holder.
Secondary Market