Oxbull.Tech: Changes in the horizon
[Migration of the Oxbull farm complete!, head over to the new Oxbull Farm to check it out!]
Oxbull.Tech has been housing its OXB-OXB and OXB-BNB LP staking feature via Space Farm on the Space Cowboy webpage. To help align traffic and usability in regards to participating in Pre-sale and the necessary Staking requirements moving forward, we shall be relocating the aforementioned staking facilities back to Oxbull.Tech’s homepage.
This shift is currently planned to take place within the month of April. [Update: the migration is now completed. Please visit!]
SCB’s own OXB-SCB and NFT-SCB pool shall continue to remain on Space Farm.
Updates on Annual Percentage Yield
To ensure the longevity of the project after reviewing the reward pool utilization and as an added effort to develop additional feature and values to the tokens, Oxbull.Tech shall first be adjusting the staking APY to the following:
OXB->OXB: APY shall be reduced from 250% to 175%
OXB->BNB LP: APY shall be reduced from 650% to 300%.
OXB->SCB: APY shall be reduced from 500% to 250%
NFT->SCB: APY shall remain the same at 500%
As the team prepares for the changes in APY, Investors who are currently actively staking shall still enjoy the current APY rate until 0000 UTC on the 8th April 2021. We highly encourage investors to harvest their gains between the 7th April 2021 @ 0000 UTC and 8th April 2021 @ 0000 UTC (Hereby known as The Transitional Period) to avoid any unwanted harvesting losses due to the changes in the APY rates.
REMINDER: INVESTORS ARE NOT REQUIRED TO UNSTAKE DURING THE TRANSITIONAL PERIOD.
During The Transitional Period, new staking/Top-ups shall be disabled to the current staking pool to prevent investing losses arising from the compounded 2% fee + APY reduction. For investors currently staking to participate in the upcoming IDO, please be assured that existing staked OXB shall continue to be intact and eligibility will not be affected as long as the IDO requirements are met.
Full functionality (Staking, Harvesting, Withdrawals)shall resume after 8th April 2021, 0000 UTC.
“Smart Stake” and NFT Platform Fees
Having said that, we are also excited to announce our endeavor in exploring a new form of “Smart Staking”, which further aims to provide investors with an efficient method of qualifying for IDOs.
On the other hand, in anticipation of the launch of the NFT marketplace on Space Cowboy, the team shall also be planning for all SCB holders then to receive 1% of the NFT Platform Fees.
Please note that Smart Staking and the NFT Platform Fee structure are currently still in the development stages, any further application shall only be adopted after satisfactory testing and modelling.
To help summarize the different approach for Oxbull and Space Cowboy staking approaches, we have summarized the changes and timelines respectively below:
Other Staking Pools
Together with the overhaul, the Oxbull team shall also be removing the BFI and deprecated farm accordingly.