LOVE Pays Dividends — xoLOVE Explained
xoLOVE is a token that you receive when you stake LOVE tokens into Love Boat’s staking contract titled XOLOVE which can be found on our ‘Dividends’ page. 0.04% of the 0.3% fee charged on all trades made on Love Boat Exchange flows to the Dividends pool (see Trading Fee Distribution article) and is used to market buy LOVE token and distribute it proportionally to all stakers in the XOLOVE staking contract.
xoLOVE token increases in value over time as more trading fees are generated. When you unstake out of the Dividends pool, your xoLOVE is burned and you get back more LOVE token than you put in. There are no time requirements for staking in the Dividends pool, but the longer you hold your xoLOVE tokens, the more LOVE tokens you will withdraw when you unstake. The APY rate will change over time and depends on how much fees are sent to the XOLOVE contract. You can use the following formula to calculate the APY at any given time:
- APY = (Last 24h volume x 0.0004 x 365) / (# of staked LOVE x LOVE price). We will release all contract addresses, including XOLOVE soon!
DISCLAIMER — Please note, all contract addresses will be shared at deployment. Please make sure that you’re using the correct contract addresses from our official channels. All vesting contracts will be verified on blockchain explorers so our token emissions and usage are completely transparent.
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