Xend Finance Strong Holder Offering (SHO)— Guidelines

5 min readFeb 15, 2021

The DAO Maker team is excited to introduce the new Strong Holder Offering (SHO) — Xend Finance (daomaker.com/sho/xend_finance).

Xend Finance is a DeFi platform for cooperatives and credit unions that provides multi-levels of interest by optimizing and aggregating different DeFi lending protocols with the aim of providing high, yet stable currency yields and token rewards to the financially underserved living in unstable economies.

This SHO is non-refundable; all raised funds will be dedicated for the project upon completion of the SHO.

For more details about the project, check our research page on Xend Finance:

https://daomaker.com/sho/xend_finance

Apply for the SHO here AT 6 PM UTC (NOT live before that): https://socialmining.daomaker.com/sho/xend_finance

New SHO rules announced earlier become effective on February 22, 2021. They DO NOT apply to Xend Finance, which has a unique set of SHO guidelines, explained below.

In addition to the Xend Finance SHO, XEND tokens have been added to the DAO Vault, which will be shared across our members of the community later. More details on this will be released soon.

Xend Finance SHO Guidelines

Only whitelisted wallets are allowed to send funds. If you have won a ticket and contribute from a different wallet than the whitelisted wallet, your transaction will be refunded.

In order to qualify for registration, your application wallet balance must exceed 1,000 USD in tokens or in Uniswap/Balancer liquidity tokens.

There will be 2 rounds for this SHO, happening simultaneously:

75,000 USD Merit Holder Round (500 USD per participant) — The main public round where the participants sign in with their wallets and we will run chain analysis and count the final score of the wallet. The system of scoring will be uncovered in the article.
25,000 USD Social Boost Round (100 USD per participant) — Social boost round is dedicated to members of Xend Finance communities. Participants must fill this form to qualify for this specific round. The form is only applicable to the social boost round.

Participants have from 15th of February, 18:00pm UTC to February 18th, 13:00 UTC, to connect their application wallet via Metamask to the DAO Maker platform. We highly recommend using your most active wallet to register for the SHO.

Each wallet will be scanned using our chain analysis tool kit. After that, each wallet will earn a score based on the criteria detailed below.

Merit Round Criteria and Wallet Assessment

The SHO system evaluates applicants based on their onchain transactions and involvement with developments that are relevant to the hosted project. Every user is given an index based on their onchain merit.

Given that XEND is a project with elements of DeFi, qualification will be based on involvement in similar DeFi projects, along with a behavioral tendency to have a long-term mindset towards token ownership.

The total score of 30 can be obtained by each registered wallet, and the scoring will be based on the following criteria:

Active Wallet Wealth
Active liquidity (+50% if DAO liquidity)
Holding COMP, Aave, or DAO

There’s a bonus for holding past SHO tokens.

A. Total USD holding on the wallet — Tiers (6 points max):

1,000–5,000 USD (1 point)
5,000–15,000 USD (2 points)
15,000–50,000 USD (3 points)
50,000–100,000 USD (4 points)
100,000–500,000 USD (5 points)
500,000 + (6 points)

B. Liquidity Providing on Uniswap/Balancer/SushiSwap (any pairs count if LP provided more than 7 days, 6 points max) — Tiers:

1,000–2,000 USD (1 point)
2,000–5,000 USD (2 points)
5,000–7,500 USD (3 points)
7,500–15,000 USD (4 points)
15,000–30,000 USD (5 points)
30,000+ (6 points)

Community Bonus: If the same level of liquidity is provided on DAO tokens, the points will be increased by 50%.

C. Holding a DAO Maker token (DAO) will get you up to 5 points

150–500 DAO — (1 point)
500–1000 DAO — (2 points)
1000–2000 DAO — (3 points)
2000–5000 DAO — (4 points)
5000+ DAO — (5 points)

D. Holding a Compound token (COMP) for a longer period of time will get you up to 5 points

500 USD worth of COMP + holding time more than 14 days — (1 point)
1,000 USD worth of COMP + holding time more than 30 days — (2 points)
5,000 USD worth of COMP + holding time more than 90 days — (3 points)
25,000 USD worth of COMP + holding time more than 90 days — (4 points)
50,000 USD worth of COMP + holding time more than 90 days — (5 points)

E. Holding an Aave token (AAVE) for a longer period of time will get you up to 5 points

500 USD worth of AAVE + holding time more than 14 days — (1 point)
1,000 USD worth of AAVE + holding time more than 30 days — (2 points)
5,000 USD worth of AAVE + holding time more than 90 days — (3 points)
25,000 USD worth of AAVE + holding time more than 90 days — (4 points)
50,000 USD worth of AAVE + holding time more than 90 days — (5 points)

Holding previous DAO Maker SHO tokens of DeFi Projects will get you a point each

Orion Protocol — (ORN) minimum 1,000 USD worth of tokens — (1 point)
Open Predict — (OPT) minimum 1,000 USD worth of tokens — (1 point)

Holding XEND will apply for a point to future DeFi SHOs on DAO Maker.

150 People with the highest scores will get to participate in this round of SHO and will get their allocations.

Social Boost Round — Criteria for Participation

Step 1: These round participants need to fill up the questionnaire here https://forms.gle/JRTEEvTmhBczgH3m9

To qualify, you must follow:

1. Telegram Chat: https://t.me/xendFinance

2. Xend Finance Twitter: twitter.com/xendfinance

3. Project Lead: twitter.com/AronuUgochukwu

4. DAO Maker: twitter.com/thedaomaker

Step 2. Connect your wallet for registration, your application wallet balance must have a minimum of 1000 USD in tokens or in Uniswap/Balancer liquidity tokens.

Step 3. You would need to register on our social mining platform, connect your social media and collect 400 points by using your social media and posting there about Xend project and participation guidelines. On social mining go to Twitter Tab and connect your Twitter to Social Mining platform and get started.

Step 4. We will select 250 winners randomly if they have complied with the above-mentioned criteria.

Account scores and lottery tickets will be disclosed after sign-ins are closed.

KYC Limitations

Citizens and residents of the following countries are not eligible to participate in the event:

Afghanistan, American Samoa, Bahamas, Barbados, Bosnia and Herzegovina, Botswana, Cambodia, Canada, China, Ghana, Guyana, Iran, Iraq, Jamaica, North Korea, Laos, Libya, Mauritius, Mongolia, Myamnar, Nicaragua, Pakistan, Panama, Puerto Rico, Sri Lanka, Sudan, Syria, Trinidad and Tobago, Uganda, Vanuatu, United States, U.S. Virgin Islands, Yemen, and Zimbabwe.