PR Newswire
Addition of Pool Ownership set to inspire the launch of new businesses and ventures within the Xai ecosystem
GEORGE TOWN, Cayman Islands , April 16, 2024 /PRNewswire/ -- The Xai Foundation, core contributor to the gaming-centric blockchain network, Xai, today announced the launch of Staking Pools, a significant upgrade to its staking system designed to enhance user involvement and network health. This update marks a significant milestone for the Xai ecosystem, offering new opportunities for XAI token holders to earn rewards and contribute to the growth of the network. Xai Sentry Key operators also gain the capability to create and manage their own pools, opening the door for a new wave of network-led ventures and innovations. As Staking pools are rolled out, the Foundation will closely monitor and analyze real usage data, making necessary adjustments to the rewards system to optimize value for all participants.
Staking pools permit XAI token holders in qualified regions to convert their tokens and stake in a pool, earning rewards for their participation. This inclusive approach aims to encourage widespread engagement within the Xai community, allowing all users to benefit from the network's growth. The update introduces the concept of esXAI, which is the staking representation of the XAI token. Users can easily convert their XAI to esXAI and stake it to participate in the rewards system.
"We are thrilled to introduce Staking Pools to the Xai community," added Soby, a core contributor to Xai. "This upgrade represents our commitment to delivering the best value and rewards to our users while ensuring the long-term health and success of the Xai network. We look forward to seeing how our community embraces this new staking system and the innovative projects that will emerge as a result."
Staking pools, created by KYC-approved Sentry Key owners, enable esXAI holders and Key holders to combine their holdings and stake collectively, achieving higher reward tiers. Pool owners determine the distribution of pooled network rewards, specifying the percentages allocated to themselves, Sentry Key stakers, and esXAI stakers. This approach places reward allocations in the hands of the community, allowing users to join pools that align with their preferences or create their own pools with custom reward scenarios.
By participating in these pools, users become eligible for rewards based on the pool's tier, which is determined by the amount of esXAI staked in the pool. The higher the tier, the greater the reward multiplier for the staked Sentry Keys. This system creates a more diverse and attractive incentive structure, encouraging collaboration and competition among pools to attract stakers and climb the reward tiers.
Pool ownership presents a unique opportunity for entrepreneurs and project leaders to launch new businesses or ventures within the Xai ecosystem. For example, a gaming project leveraging the Xai platform can establish a pool to pre-launch their game, conduct airdrops to participants, and gauge community interest. This innovative approach fosters community involvement, serves as a litmus test for product/market fit, and provides projects with a dedicated community of supporters.
The Xai Foundation recognizes the positive impact that staking has on network health and user involvement, as evidenced by the success of staking systems across the blockchain industry. By implementing Staking v2, Xai aims to foster a more active and engaged community, driving the adoption and growth of its gaming-focused blockchain network.
For more information on Staking v2 and how to participate, please visit: https://medium.com/@xaifoundation/xai-announces-staking-pools-1d303995c921
About Xai Foundation
The primary objective of the XAI Foundation is to foster the growth of developers and games within the XAI blockchain ecosystem. This encompasses attracting third-party developers, implementing effective marketing strategies, and offering financing opportunities to web3 game developers. As the custodian of the blockchain and its associated token, the Xai Foundation plays a pivotal role in supporting the integrity of the platform.
For media inquiries, please contact:
marketing@xai.games
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SOURCE Xai Foundation
