XPocket Finance — The one-stop solution for your crypto assets

5 min readMar 6, 2022

Project Overview

What is XPocket?
XPocket is building a substantial ecosystem that consists of various & unique features such as Cross-Chain DEX & NFT Marketplace, and, Decentralized Mobile Wallet app.

We aim to create a user-friendly platform for everyone in the crypto sphere, starting from newbies, to experienced folks out there.

Executive summary:

Key Objectives

To become a global leader in technology and financial services for the next generation of customers and asset groups.
To develop problem-solving products and services that allow users to perform safe global financial transactions with ease and independence.
Assist users in saving money and time.
Make the (X)POCKET token and ecosystem more valuable.

Mission

To create decentralized solutions based on cutting-edge technology that allows people all over the world to conduct safe financial transactions with ease and freedom.

Vision

To build a financial ecosystem that saves users time and money by offering a variety of financial products and services.

Why XPocket? What problems do we solve?

Solving security problems of Centralized Exchanges & wallets by developing a non-custodial exchange & wallet was not our only concern.
Our main focus was on identifying existing problems with regular DEXs.

Let's name crucial ones:
1) ETH scalability, extremely expensive transactions
2) Slow transaction speed
3) Limited to ERC-20 tokens only
4) Everyone can add/list new tokens and potentially steal funds from incautious users by duplicating other projects.
5) The token of other regular DEXs often lacks utility

How do we plan to solve those problems?

1 & 2) XPocket DEX will, besides Ethereum, support OEC (OKExChain)
OEC offers high-speed & cheap transactions.
3) Our users will be able to swap assets across multiple blockchains as we will support cross-chain asset interaction. Goodbye, ERC-20 only swaps!
4) On Pocket Swap, users will not be able to add new tokens due to strategic vision & because of high chances of theft.
5) We can all agree that almost all native tokens of other well-established DEXs lack utility, we strongly believe this is the main problem.

That is why we created a set of unique use-cases for the POCKET token:

Income from the Trade Fees:
After each trade on Pocket Swap, 0.05% of the trade fee will be taken, and it will go towards POCKET token holders, proportionally. The amount of rewards depends on the amount of POCKET held by the investor, the more you hold, the bigger reward.
Lower Trade Fees
Hold X number of POCKET tokens to lower trade fees on Pocket Swap (TBD)
Example how it would work:
Bronze Tier = 10,000 POCKET tokens = 10% Pocket Swap fee discount
Silver Tier = 100,000 POCKET tokens. = 20% Pocket Swap fee discount
Gold Tier = 1,000,000 POCKET tokens. = 40% Pocket Swap fee discount
Number of use-cases coming from our NFT Marketplace (Example, TBD)
Pay a fee with a POCKET token and get a discount when exchanging NFT
Special Auction (Stake POCKET tokens to participate)
Artists/Content Creators can place ads by paying with POCKET tokens, to get their artwork on the top of the list
Stake POCKET to mint NFT, etc.
Staking
Stake POCKET tokens and get rewarded in return for contributing to the POCKET network.
Pocket Swap Listing Fees
The listing fee is charged in POCKET tokens, the exact amount still has to be decided.

All of these use-cases strongly incentives users to hold or to buy more tokens in order to get bigger benefits. We called it HODL Incentive.

XPocket App Features:

PocketSwap (Multi-Blockchain Decentralized Exchange)
Yield Farming (Provide Liquidity to PocketSwap and earn from trade fees)
Decentralized Wallet & Ability to store different kinds of collectibles, art & NFTs within the wallet
Ability to buy crypto with a credit or debit card, without leaving the app
NFT Marketplace

Pocket Swap:

PocketSwap is an Ethereum & OKExChain-based DEX protocol that allows users to trustlessly swap their tokens and coins across multiple blockchains.

PocketSwap pools tokens into smart contracts and users trade against these liquidity pools. Anyone can swap tokens or add tokens to a pool to earn fees.

It obviates the need for trusted intermediaries, prioritizing decentralization, transparency, and security.

In general, 0.3%* fee is taken by the pool contract on every transaction/trade on PocketSwap. And, 0.25% of this fee is divided between the liquidity providers proportionally to their share. The remaining 0.05% of the fee goes to POCKET token holders, proportionally.
In the beginning, XPocket project will share 100% of the revenue from the Pocket Swap with liquidity providers and token holders in order to attract more userbases.

Yield Farming

Depositing assets on Pocket Swap is completely permissionless and non-custodial.
The ability to use and withdraw assets is completely non-custodial.
The assets need to be pooled symmetrically.
Only the original depositor has the ability to withdraw them, at any time.
The network processes their request and the liquidity provider receives their percentage according to their ownership of the pool, and, unlike on other DEXs where the user gets back the same assets that he deposited, on Pocket Swap, all users will be able to choose the currency in which they will receive their rewards, out from all available assets on Pocket Swap.

Decentralized Wallet

XPocket wallet offers a safe solution and the ability to buy, store, receive and send cryptocurrencies as well as different kinds of NFTs.

XPocket users are always in control over their private keys, and that makes XPocket Wallet one of the safest places to store digital assets — Your Keys=Your Coins

XPocket wallet supports Bitcoin, including other major currencies, and all ERC-20 tokens