XCM Liquidity Updates
New XCM Trading Terms & Staking Boost
We have made a promise to our community to do our best in providing a healthy trading environment and ensuring optimal liquidity for our native token XCM. Today, we are taking this effort a step further by introducing the following XCM trading terms, in effect from 14 Dec 2022, 15:00 UTC:
- There will be a total limit of 5000 XCM in resting sell orders per user.
- The maximum limit sell price cannot exceed 100% above of the current XCM price.
The move is aimed at creating a more liquid and efficient market. In order to implement the above, we will need to reset the XCM order book at the exact same time. As we understand that this might bring some inconvenience to the current XCM holders, we would like to offer a substantial XCM Staking Boost of double APR (annual percentage rate). This will only apply to any new XCM Staking plans and ends on 18 Dec 2022, 23:59 UTC. Read on to understand why this is important.
What Does It Mean for Me?
Existing XCM Holders
From the time of this announcement, 9 Dec 2022, 13:00 UTC, you can cancel any limit orders on XCM pairs and take advantage of 2X staking rewards until 18 Dec 2022, 23:59 UTC. Read below for more details.
If you have any XCM Margin orders, they will not be affected by the book reset.
After 14 Dec 2022, 15:00 UTC, you can replace any sell orders in line with the above terms.
New XCM Holders
New XCM buyers can still buy XCM as usual with Market or Limit orders, then take advantage of the 2x staking APR boost.
XCM Staking Boost – Double APR
We are offering an XCM Staking Boost of double APR for any new XCM Staking plans created from now through 18 Dec 2022, 23:59 UTC. Take advantage of this unique, limited offer and stake XCM to enjoy double return rates.
Note: Currently staked XCM will not be eligible for the double APR boost promotion.
As always, all our important next steps are carried out with open communication and feedback from our community. Head to our Telegram channel to join the conversation, understand more about this important change, and voice your questions for our CEO Kevin Murcko.
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