Bittime - Xai, an Arbitrum-based Ethereum layer-3 gaming network, has launched a staking pool, allowing XAI token holders to earn rewards regardless of the amount of their holdings.
Xai Foundation Encourages User Engagement Through Staking
The Xai Foundation, backer of the Xai layer-3 gaming network built on Arbitrum scaling technology on Ethereum, announced the launch of its latest staking pool system. This system is designed to reward users who are involved in the Xai ecosystem.
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Xai staking pools allow XAI token holders in eligible regions to stake their tokens in the pool, thereby earning rewards for their participation. This update introduces a new token, esXAI, which serves as an escrowed staking representation of the XAI token. Users can convert their XAI to esXAI and then stake those tokens to participate and earn staking rewards.
Sentry Key Owners Who Meet KYC Can Create a Staking Pool
Staking pools can be created by Sentry Key owners, who must complete know-your-customer (KYC) protocols and operate the network's supporting nodes. Pool operators can then determine the distribution of collected network rewards, with a breakdown of the percentages allocated to themselves, Sentry Key stakers, and esXAI stakers.
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The Xai Foundation hopes that the higher the staking pool level based on the amount of esXAI staked, the greater the reward multiplier for staked Sentry Keys. According to the official release, this will encourage "collaboration and competition between pools to attract stakers and climb the reward tiers."
Staking is Planned Long Term
The Xai Foundation first launched staking rewards in February, with staking pools and additional functionality recently added.
"We are excited to introduce staking pools to the Xai community," added Soby, a pseudonymous Xai core contributor. "This upgrade demonstrates our commitment to providing the best value and rewards to our users while ensuring the long-term health and success of the Xai network."
The Xai Network and the Future of Blockchain Gaming
The Xai Network launched their mainnet earlier this year alongside an airdrop of XAI tokens for node operators and owners of certain Xai-related NFT collections. Games are starting to appear on this network, such as the on-chain role-playing game Tarochi.
Additional upcoming projects include card battle game Final Form and multiplayer action game LAMOverse from Ex Populus, the Crypto Unicorns franchise migrating from Ethereum scaling network Polygon, and potentially dozens of indie games being adapted for crypto gaming in partnership with The Media Indie Exchange (The MIX).
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Also read:
XAI Token Rises Dramatically: Analysis of Causes and Future Price Predictions
What is Xai (XAI): Gaming Innovation On Blockchain Arbitrum
What is XAI(X)? The Future of Digital Finance
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