Bittime - Xai Foundation, backer of the Ethereum layer-3 gaming network Xai, built on Arbitrum scaling technology on Ethereum, has announced the launch of a new staking pool. This is a big step towards expanding rewards for XAI token holders involved in this ecosystem.
What is Xai Staking Pool?
The Xai staking pool allows XAI token holders to put their tokens into a staking pool, where they can earn rewards in recognition of their participation in the network. The launch also introduces a new token, esXAI, which represents legally secure staking of XAI tokens. The process is simple: XAI holders convert their tokens into esXAI and then put them into a staking pool to earn staking rewards.
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How does it work?
Staking pools can be created by Sentry Key owners, who must go through KYC protocols and operate nodes that support the network. Pool operators can set reward distribution, including percentages for themselves, Sentry Key holders, and esXAI holders. The greater the amount of esXAI staked, the greater the prize that can be obtained by Sentry Keys.
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Innovation and Collaboration
The Xai Foundation hopes that the launch of this staking pool will encourage collaboration and healthy competition between groups in the network. This not only provides added value for Xai users, but also improves the long-term health and sustainability of the network.
Xai Network Development
In addition to the introduction of staking pools, the Xai network launched its mainnet earlier this year. This was accompanied by an airdrop of XAI tokens for node operators and owners of associated NFT collections. Some games have started to launch on the network, such as Tarochi, an on-chain role-playing game.
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The Future of Gaming on the Xai Network
Exciting projects are also coming to the network, such as Final Form, a card battle, and LAMOverse, a multiplayer action game from Ex Populus. Also, the Crypto Unicorns franchise will migrate from Polygon's Ethereum scaling network, while potentially dozens of indie games will be adapted for crypto gaming in collaboration with The Indie Media Exchange (MIX).
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DISCLAIMER: This article is informative and does not constitute an offer or solicitation to sell or buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in crypto asset exchange rate fluctuations.
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