How To Use XTorch Like a Hero (Pt. 1): Dividends
Within a shockingly short period, Hercules has established itself as both the top DEX and largest protocol on Metis in TVL. Since its inception, the central focus behind Hercules has been to foster a deep liquidity model to serve as the primary liquidity layer of the Metis ecosystem. To date, Hercules is the only DEX on Metis that provides users with an in-depth multi-layer reward system coupled with an advanced tokenomic model built for maximum capital efficiency and long-term sustainability.
Today, we’ll be unraveling the secrets of xTORCH with the Dividends plug-in so you too can use Metis’ top DEX like a champion.
So how does one unlock the benefits from one of the most lucrative incentive models in DeFi?
The key lies in Hercules’ xTORCH token.
Hercules’ xTORCH Token
The value behind xTORCH is backed by some of the most powerful tokenomic models ever created, it is the key to unlocking the power of the Hercules dividend and launchpad plugins.
While TORCH is the native tradable token on Hercules, xTORCH operates as the master key to Hercules’ protocol rewards and yield. Put simply, xTORCH is the non-transferable, escrowed version of the Hercules TORCH token. The primary function of xTORCH is strictly concentrated on unlocking Hercules’ rewards by allowing users to collect dividends, boost LP yields, and participate in new project launches on Metis via the Hercules launchpad.
How to obtain xTORCH
Because the sole purpose of xTORCH is to produce extra yield on Hercules, it is illiquid and unable to be transferred or traded. In order to obtain xTORCH, users must convert their native TORCH tokens to xTORCH via the Hercules dashboard page.
For an in-depth look at Hercules TORCH & xTORCH tokens, see here.
Why Allocate To The Hercules’ Dividends Plugin?
By being the top DEX of Metis with the highest TVL, the dividends plugin could be the secret weapon for some serious additional yield. As the Metis ecosystem continues to grow so does the userbase of both the Metis protocol and Hercules. Users who choose to allocate xTORCH to the Hercules dividends plugin are entitled to a share of the protocol’s earnings. The more volume equates to more fees which equals increased dividends for users.
How to allocate xTORCH to the Dividends plugin
To allocate xTORCH to the Dividends plugin, simply navigate to the dashboard drop-down tab at the top of the web page, then select “Dividends”. Once selected, you will be taken to the appropriate xTORCH allocation terminal where you can allocate your xTORCH to either plugin.
Once your xTORCH has been allocated to the Dividend plugin, you will begin receiving a share of the fees generated by the largest DEX on Metis!
Conclusion
From leading by example as Metis’ champion DEX, Hercules has solidified itself as the primary DeFi hub of the Metis ecosystem. Through Hercules, users will be able to dominate the Metis landscape as they collect real yield from the chain’s economic growth and have access to a plethora of yield-bearing opportunities exclusive only to the Hercules DEX!
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
