Xai Foundation, the organization supporting the Xai Layer 3 gaming network built using Arbitrum 's scaling technology on Ethereum, has announced the launch of a new Staking Pool system designed to reward user participation into the ecosystem.
Xai's Staking Pool allows eligible XAI token holders to stake tokens into the pool and earn rewards for their participation. The update introduces a new token, esXAI, which Vai as an escrow Token representing Stake XAI tokens. Users can convert their XAI to esXAI, then stake the tokens to participate and earn staking rewards.
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Staking Pool can be created by Sentry Key holders, who must complete KYC protocols and operate network validation nodes. Pool operators can then determine the distribution of network rewards, specifying the percentages allocated to themselves, Sentry Key stakers, and esXAI stakers.
The higher the level of the Staking Pool , based on the number of esXAI staked, the larger the reward coefficient for the staked Sentry Key.
With this new system, Xai Foundation hopes, to encourage cooperation and competition between groups to attract Stake and upgrade reward levels.
Xai Foundation first introduced the Staking mechanism in February, with expanded groups and functionality being added to today's offering.
Xai Staking pools live. These pools will create the bedrock for coordination across the ecosystem between key stakeholders and third party rewards. More below 1/2 pic.twitter.com/QB7da7LMqo
— XAI (@XAI_GAMES) April 16, 2024
The Xai network launched its Primary Network earlier this year along with an Airdrop of XAI Token for individual node miners and owners of several Xai-related Non-Fungible Token collections.
Upcoming projects include the card battler Final Form, the multiplayer action game LAMOverse from Ex Populus, the Crypto Unicorns franchise porting from the Ethereum Polygon extension network, and dozens of other indie games in the pipeline. adapted to the crypto space in partnership with The Media Indie Exchange (The MIX).
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