Xi, the popular Ethereum layer 3 gaming network built with Arbitrum, has announced that it will launch a new staking pool on April 16, 2024.
This pool will strengthen collaboration between key stakeholders and lay the foundation to enable third-party rewards within the Xai ecosystem.
Sentry Keys and esXAI: The Heart of the XAI Staking Pool
Staking pools often become hubs of innovation, driving the creation of games, non-fungible token (NFT) drops, and other exciting projects. XAI aims to leverage staking for continued growth and a more robust gaming environment .
“The design of the staking mechanism within the Xi ecosystem focuses on fostering collaboration,” Xi Foundation, the team behindXi’s development, said in an official statement.
Sentry keys are the basis of the staking process in the Xai ecosystem. You will need staked Sentry Keys to create a pool. Owners of Sentry Keys can stake their keys in multiple pools to increase reward tiers and maximize profits.
Staked keys form the basis of the pool and directly affect potential rewards.
Read more: 9 Cryptocurrencies with the Highest Return on Staking (APY) in 2024
In addition to sentry keys, esXAI's pool capacity also plays an important role in the XAI staking pool. esXAI is a new token representing XAI staked in escrow.
KYC-verified Sentry Key owners have exclusive rights to create pools and directly set network reward rates . An effective pool owner must actively lead the pool, recruit members, and market the pool. Failure to do so may result in stakers moving to more successful pools.
Additionally, esXAI holders have the possibility of receiving network rewards based on a percentage set by the pool creator. Since most esXAI is likely to be owned by sentry key holders, we expect them to be the largest stakeholders in esXAI.
XAI's immediate redemption is intended to strengthen ecosystem support from existing members, attract new investors, and promote overall network health.
Despite these developments, initial market reaction was minimal. According to data from BeInCrypto, XAI is trading at $0.68, up 0.71% over the last 24 hours.
Read more: What is Cryptocurrency Staking ? A Guide to Earning Passive Income
Xi's move is one of several recent developments that are fueling the resurgence of Web 3.0 gaming in 2024. Initiatives such as Saga’s “Power Level 9000+” campaign and a16z’s new gaming fund demonstrate widespread investor confidence in the sector.
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