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Xai Foundation Announces Launch of Staking Pool System
The Xai Foundation, a supporter of the Xai layer-3 gaming network built with Arbitrum scaling technology on Ethereum, has revealed the introduction of a new staking pool system aimed at incentivizing user engagement within the ecosystem.
The newly unveiled Xai staking pools provide XAI token holders in select regions the opportunity to stake their tokens in a pool and subsequently receive rewards for their involvement. This update introduces esXAI, a new token that functions as an escrowed staking representation of the XAI token. Users have the option to convert their XAI tokens to esXAI and utilize them for staking purposes, thereby participating in the ecosystem and earning staking rewards.
The creation of staking pools is facilitated by Sentry Key owners, who are required to undergo know-your-customer (KYC) procedures and operate nodes that support the network. Pool operators have the authority to determine the allocation of pooled network rewards, specifying the distribution percentages assigned to themselves, Sentry Key stakers, and esXAI stakers.
By staking a certain amount of esXAI, users can access higher-tier staking pools, which offer increased reward multipliers for staked Sentry Keys. The Xai Foundation anticipates that this structure will foster collaboration and competition among pools, encouraging stakers to participate and ascend the reward tiers, as stated in a press release.
History and Future of Xai Network
Earlier this year, the Xai network launched its mainnet alongside an XAI token airdrop for node operators and individuals holding specific Xai-associated NFT collections. The network has already witnessed the release of games like the on-chain role-playing game Tarochi.
Future endeavors include projects such as Final Form, a card-battler game, and LAMOverse, a multiplayer action game developed by Ex Populus. Additionally, the Crypto Unicorns franchise is transitioning from the Ethereum scaling network Polygon to the Xai network. Furthermore, numerous indie games are currently in the process of being adapted for crypto gaming through collaborations with The Media Indie Exchange (The MIX).
The introduction of staking pools signifies a significant milestone for the Xai community, showcasing the organization’s dedication to providing optimal value and rewards to users while ensuring the long-term sustainability and prosperity of the Xai network, according to a statement by Soby, a key contributor to Xai.
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