💰 Borrow

As a completely free-to-join platform, XSaiyan pioneers a strategic approach to ownership by allowing users to collateralize Wrapped Bitcoin ( WBTC ) to acquire XSaiyan tokens ($SAIX). This not only enhances accessibility for users but also establishes a tangible connection between the crypto and gaming realms.

Step-by-Step Collateralization Process:

1. Wallet Setup:

For a hassle-free experience, your personal wallet is auto-generated upon XSaiyan login. Easily monitor, deposit, or withdraw WBTC/$SAIX right from the intuitive wallet interface.

Hint: You should prepare ETH as Network fee also

2. Deposit WBTC:

Once authenticated, users can instantly deposit WBTC within the XSaiyan interface. This step is crucial as it determines the amount of WBTC available for collateralization and subsequent acquisition of $SAIX.

3. Selection of Collateral Amount:

Users then decide on the amount of WBTC they wish to collateralize. The collateralization amount directly correlates to the number of $SAIX tokens they intend to acquire. XSaiyan employs a transparent and real-time exchange rate mechanism to facilitate this conversion, ensuring fairness and accuracy.

4. Confirmation of Collateralization:

After selecting the collateralization amount, users confirm the transaction within their wallets. This action triggers the smart contract on the XSaiyan platform, locking the specified amount of WBTC as collateral against the $SAIX tokens.

5. Smart Contract Execution:

The smart contract autonomously executes the collateralization process, verifying the authenticity of the transaction and securing the user's ownership of $SAIX tokens. This decentralized and trustless mechanism eliminates the need for intermediaries, enhancing the security and efficiency of the collateralization process.

6. Ownership Confirmation and $SAIX Allocation:

Upon successful execution of the smart contract, users receive a confirmation notification within the XSaiyan platform. Simultaneously, the allocated $SAIX tokens are credited to their wallets, signifying the completion of the collateralization process.

7. Monitoring and Management:

Users can monitor their collateralized assets in real-time through the XSaiyan waller. The platform provides detailed insights into collateralization status, $SAIX token holdings, and relevant transaction history. Additionally, users have the flexibility to manage and adjust their collateralization based on their evolving preferences.

8. Collateral Release and Withdrawal:

Should users wish to release their collateral and withdraw their WBTC, XSaiyan enforces a secure mechanism. Users can choose to get back their collateralized WBTC by settling any outstanding balances, adhering to the platform's predefined terms and conditions.