BXP Program

The Blackwing XP (BXP) program is designed to reward early adopters and participants in the initial development stage of Blackwing. Accumulated BXP, along with other factors, will be used to determine airdrop rankings.

note

The XP program will expire one week before mainnet launch. Keep checking back on this page to see the latest updates.

Earning XP

To be eligible for any BXP, you must first complete the Blackwing onboarding.

The initial amount of BXP earned varies from 0-50 BXP and is determined by how many steps of the onboarding process are completed and activity of accounts connected to Blackwing. This help gaurd the system and protect users from bots.

Once onboarded, there are multiple ways to earn BXP:

Action	BXP Reward	Notes
Initial Bonus	0-50 BXP	Earned when you complete your first deposit
Completed Invites	10 BXP	Only earned if the invited person deposits at least 10 USD. Invited accounts are subject to sybil checks.
1st Degree Invite BXP Share	10% of the BXP earned by connection
2nd Degree Invite BXP Share	5% of the BXP earned by connection
Testnet Trades	BXP will be rewarded to users that trade on testnet - more details will be announced soon.
Deposit Yield	Yield on BXP earned from deposits	Yield percentage is determined by bonding curve.
Galxe Missions	Varies	Check the Blackwing page for more info

BXP Share

As described above, you earn a percentage of BXP earned by people you invite, limited to 2nd degree connections.

BXP Yield Rate

To encourage the earliest depositors, users automatically earn yield on assets deposited. The yearly rate is determined by an inverse bonding curve based on the total BXP accumulated by all users, described by the below formula:

$$\begin{cases} \frac{10^{11}}{99x+10^{8}} & 0\leq x\lt 10^{8} \\ 10 & 10^{8} \leq x \end{cases}$$

The yearly rate starts at 1000% and decreases to a min of 10% as cumulative BXP reaches 100m. BXP yield is distributed daily, using the following formula:

$$r_{daily} = \frac{r_{yearly}}{365}$$

$$yield_{daily} = r_{daily} * deposits_{usd}$$

The value of assets deposited is determined as the average of various price APIs (coingecko, exchange feeds, etc).

BXP Trade

With Tomcat-1, Blackwing's first testnet, you're able to convert all your BXP into BUSD, Blackwing's Tesnet USD currency, and start trading. 1 BXP converts to BUSD at 1:100 ratio — for example, if you have 10 BXP, you will be able to convert all of it to $1000 BUSD.

Any positive BUSD from successful trades can be converted back into BXP. Similarly, any negative PNL means you have lost equivalent BXP.

You can convert back and forth between BXP and BUSD at any time.

Withdrawal Penalty

If you withdraw, only your initial bonus and non-time weighted BXP is forfeited. If an invitee withdraws, the invite bonus BXP earned by the inviter is forfeited.

Non-time weighted BXP included initial BXP bonus, invite BXP bonus and other BXP not earned from deposit yield.

If you have converted your BXP into BUSD, instead of forfeiting BXP, your account's BXP value will go negative.

Most importantly, BXP earned from Deposit Yield is never forfeited.