In a strategic move, XETA is transitioning into a private fund, closing its doors to additional capital contributions from Members. However, the innovative XETA team has devised a solution leveraging Non-Fungible Tokens (NFTs), providing Members with the unique ability to either exit or expand their positions within XETA. This article will delve into the intricacies of this groundbreaking approach.
As of January 1, 2024, XETA suspended all earnings to consolidate each Member’s Genesis Accounts and Pools, amalgamating principal and accrued interest into a unified position. Subsequently, the team will fractionalize these positions into $250 NFTs and airdrop them directly into Members’ wallets.
NFT Holder benefits
Each XETA NFT brings several benefits:
- An annual return of up to 60%.
- Quarterly stablecoin payouts, commencing in April 2024.
- A fixed base rate of $250, irrespective of market fluctuations.
Opensea will be an option for those looking to buy into the fund, it should be interesting to see how the tokenisation of fund access goes, innovative product thinking from the Xeta team is a first in the market, Over the coming months it will be interesting to see the developments from the team and the beginning of the quarterly pay-outs.
It looks like a promising start to 2024 for holders that have opted to stick with the fund and receive their NFTs.
More updates here at Crypto-Observer.com to come.
