X1 Labs has opened yield farming on XDEX, and the target is liquidity depth. Four pools are live, and every one of them pays liquidity providers a second time for leaving their capital in place — on top of the trading fees they already earn.
This is the direct answer to the constraint that has shaped trading on X1 all year. A young chain's pools are thin, thin pools mean slippage, slippage discourages size, and the absence of size keeps the pools thin. Farming attacks that loop at the only point where it can be broken: paying providers more to show up first.
The four farms
All four pair XNT against something else, and each is quoted with an XP APR and a Depth Boost multiplier. Figures observed on 14 September:
| Pool | XP APR | Depth Boost | TVL |
|---|---|---|---|
| XNT / PEPE | 100.17% | 1.00× | $2.26K |
| XNT / USDC.X | 6.50% | 2.24× | $5.37K |
| XNT / XNM | 4.02% | 1.00× | $1.51K |
| XNT / DGN | ~14.5% | 1.00× | $1.66K |
The pool selection is deliberate. USDC.X is the bridged stablecoin — the pair that anchors price discovery for everything else on the exchange — and it is the one carrying a Depth Boost above 1×, at 2.24×. DGN is the Degen launchpad token, the venue every new X1 project graduates through. XNM is Xenium, and PEPE is the meme pair carrying the headline triple-digit rate.
That is coverage of the four books that matter most to the rest of the ecosystem, not a scattergun across 1,206 pairs.
Depth Boost: the mechanic that does the work
The Depth Boost multiplier is the part worth understanding, because it is where the design stops being a generic points program and starts being liquidity policy.
A flat farm pays the same rate whatever the pool needs. A boosted farm pays more into the books whose depth carries the most weight for everyone else — and USDC.X, at 2.24×, is currently being paid more than twice the base rate to get deeper. Providers chasing the highest score are steered toward the pools where an extra dollar of depth does the most good, rather than toward whichever pool happens to be emptiest.
The scoring stack reinforces it. CORE publishes its formulas, and liquidity is rewarded at two separate layers:
Provide liquidity: XP = 2.0 × log(1 + amt / 25)
Farm (stake LP): XP = 1.5 × log(1 + farmingStake / 50)Depositing into a pool scores once. Staking the resulting LP token into the farm scores again. A provider who deposits and then farms is paid on both legs, and the second leg is explicitly a commitment bonus — CORE's documentation describes it as rewarding "long-term liquidity commitment," with micro-stakes and rapid unstakes ignored outright. The system pays for liquidity that stays.
The logarithm matters too. A linear points program pays a whale exactly a hundred times what it pays someone with a hundredth of the capital, which concentrates a pool into a handful of addresses that can all leave at once. A log curve does not: tenfold more staked LP buys well under tenfold the XP. That broadens the base of providers, and a book held up by many independent providers is more durable than one held up by two.
Why deeper books change what X1 can do
Liquidity depth is not a vanity metric on this chain — several things X1 shipped this month only reach their full value on top of it.
Multi-hop smart routing, live since 8 September, splits a swap across up to six hops and multiple venues to find a better price. A router is only as good as the books it routes through: every dollar of new depth widens the set of routes that beat a direct swap. Farming and routing were built to compound.
The same applies to tokenized equities, which arrived the day before the farms opened. TSLA.X needs a deep XNT/USDC.X leg for anyone to price it sensibly against dollars — and that is precisely the pool drawing the 2.24× boost. It applies to Degen graduations, which seed an XDEX pool on the way out, and to every bridged asset that has landed since the summer.
Deeper books also feed back into the reward pool itself. The CORE vault that pays out XP is funded automatically by 5% of XDEX trading fees, 5% of Degen graduation fees and 5% of wallet routing fees. Deeper liquidity means lower slippage, lower slippage means more volume, and more volume means a larger vault behind every point earned. The incentive is designed to pay for itself as it works.
This is one layer of a much bigger build
Farming is not a standalone promotion. CORE is a single XP layer spanning XDEX, the Degen launchpad, Warp Bridge, the X1 Wallet and Vero prediction markets, with published formulas for each — swaps, bridging, staking, token launches, prediction trades — and Degen Skull multipliers of 1.10× to 1.50× layered on top. XP is soul-bound: it cannot be bought, sold or transferred, so it can only be earned by doing the thing.
The cadence behind it is the real story. Limit orders landed in July. TWAP followed. The routing engine was deployed as its own on-chain program on 8 September and announced two days later. Farming opened on the 14th. That is four structural upgrades to the same exchange inside ten weeks, shipped alongside the Warp bridge listings, the Tachyon v4.0.3 release and the first tokenized stock on the chain.
CORE itself still carries a test-mode banner while the vault is funded on its weekly schedule — the accounting is running ahead of the payouts, which is the normal order for a system that has to prove its scoring before it distributes against it. Early participants are accruing against a rate that is set per cycle, and points earned in the quiet early cycles convert at a better rate than points earned in a crowded one.
"What's coming down the road"
Jason, the lead developer behind both XDEX and CORE and part of the X1 Labs core dev team, posted in Telegram after the farms opened:
What's coming down the road is really interesting....
He has a record of shipping what he trails — the limit orders he confirmed in July arrived, and multi-hop routing followed. An XP ledger that already tracks swaps, bridges, stake, launches, prediction trades and now farms across five applications is infrastructure, and infrastructure of that shape gets built ahead of something, not after it.
For providers, the practical position today is straightforward: liquidity on X1 is being paid for at two layers, weighted toward the books the ecosystem most needs deep, on a curve that favours committed capital over large capital. Standard LP risk still applies — an XNT/PEPE position can hand back a worse token split than simply holding, which is the trade-off the Depth Boost is pricing when it pays USDC.X more and PEPE less.
The farms are at app.xdex.xyz/farming; balances are at core.x1.xyz.