🔄Borrow

As an innovative and free-to-join platform, xMoon introduces a pioneering approach to asset management by enabling users to collateralize Ethereum (ETH) to obtain xMoon tokens ($XMOON). This strategy not only makes the platform more accessible to users but also creates a tangible link between the cryptocurrency and gaming worlds.

Step-by-Step Collateralization Process:

1. Wallet Setup:

   • Upon logging in to xMoon, a personal wallet is auto-generated for a seamless experience. You can easily monitor, deposit, or withdraw ETH/$XMOON using this intuitive wallet interface.

   • Tip: Ensure you have ETH available for network fees.

2. Deposit WBTC:

   • After logging in, users can promptly deposit ETH within the xMoon interface. This step is crucial as it determines the available ETH for collateralization and the subsequent acquisition of $XMOON.

3. Selecting Collateral Amount:

   • Users choose the amount of ETH they wish to collateralize. The collateralization amount is directly linked to the quantity of $XMOON tokens they can acquire. xMoon utilizes a transparent, real-time exchange rate system for this process to ensure fairness and precision.

4. Confirming Collateralization:

   • Users confirm the chosen collateralization amount within their wallets. This action activates the smart contract on the xMoon platform, securing the specified ETH amount as collateral for the $XMOON tokens.

5. Smart Contract Execution:

   • The smart contract autonomously carries out the collateralization, verifying the transaction's legitimacy and safeguarding the user's $XMOON tokens. This decentralized, trustless process removes the need for intermediaries, boosting the security and efficiency of the operation.

6. Ownership Confirmation and $XMOON Allocation:

   • Following the smart contract's successful execution, users receive a confirmation on the xMoon platform. Concurrently, the allocated $XMOON tokens are transferred to their wallets, marking the end of the collateralization process.

7. Monitoring and Management:

   • Users can track their collateralized assets in real-time through the xMoon wallet. The platform offers comprehensive insights into collateralization status, $XMOON token holdings, and transaction history. Users also have the ability to adjust their collateralization as their needs evolve.

8. Collateral Release and Withdrawal:

   • Users desiring to release their collateral and reclaim their ETH can do so through xMoon’s secure process. To retrieve the collateralized ETH, users must settle any pending balances, following the platform's established guidelines.