xKNIGHT is an ERC20 token that you receive in exchange for staking KNIGHT tokens in our Staking pool.
You could think of xKNIGHT as a receipt that you get when you stake your KNIGHT. This xKNIGHT receipt is needed when you want to unstake your KNIGHT. When you unstake your KNIGHT, the receipt gets burned and you receive your staked KNIGHT plus rewards.
Ensure that you do not lose this receipt, if not, you will not be able to claim back your staked KNIGHT and rewards!
While holding xKNIGHT, it appreciates in value as KNIGHT rewards get deposited into the Staking pool. xKNIGHT will always be worth more than KNIGHT.
The price of xKNIGHT in terms of KNIGHT is shown on our Staking interface. This price will continue to rise over time as more KNIGHT rewards get deposited into the Staking pool. KNIGHT rewards are distributed every week.