Xai, an innovative layer-3 gaming network built on the Ethereum blockchain and utilizing Arbitrum technology, is poised to introduce the initial phase of its staking rewards program this week, closely following the airdrop of its XAI tokens in January. The rollout, scheduled for Tuesday, aims to reward stakers and further support its early adopters, showcasing a significant step forward for the platform.
At the core of this initiative is the establishment of staking capabilities for the holders of Sentry Keys, a series of NFT-based nodes that play a crucial role in the network’s support system. The Xai Foundation, having sold approximately 35,000 of these observer nodes, thereby engaging over 6,300 distinct supporters, highlights the strong community foundation the network boasts. Remarkably, these Sentry Key operators were among the primary beneficiaries of the January XAI token airdrop, underscoring the network’s commitment to its proponents.
With the upcoming activation of staking and the introduction of the escrowed XAI (esXAI) token, Xai is extending an even more compelling incentive structure for Sentry Key owners. The configuration permits each key to be associated with up to 25,000 staked esXAI, which represent the stakable XAI tokens. For owners of multiple keys, this provision allows for a significantly higher stake, enabling a consolidation of up to 125,000 esXAI for a holder of five keys, for example.
The network is further differentiating its staking rewards through the implementation of tiered rewards. These tiers introduce a bonus mechanism that amplifies the staking rewards for Sentry Key owners, based on the amount staked. The tiers range from Bronze, which includes stakes of under 1,000 esXAI without a multiplier bonus, to Diamond, which encompasses stakes of 1 million esXAI or more, with a reward success multiplier of up to 16x. This tiered system incentivizes deeper investment into the network, aligning the interests of the stakeholders with the network’s success.
Moreover, for those not in possession of a Sentry Key or those who choose not to stake large sums of XAI, the Xai Foundation is developing plans to expand its staking rewards program to include pools in March. These pools, which Sentry Key node owners will operate, are designed to broaden participation in the staking ecosystem, offering compelling opportunities for general XAI token holders. This expansion reflects the inclusive approach of the network, catering to a diverse set of participants.
In addition to providing financial incentives, these staking pools are envisioned as channels for deeper engagement within the Xai ecosystem. Future plans include utilizing these pools to facilitate the airdrop of NFTs and tokens to engage audiences for Xai games and other projects, in addition to enabling XAI token holders to delegate governance voting rights to a pool.
The Xai network has several exciting games on its horizon, including notable projects such as the card battler Final Form and the metaverse action game LAMOverse, developed in collaboration with Ex Populus, the creators behind the Sentry Key software. Further highlighting its growing appeal, the NFT game Crypto Unicorns has announced its migration from Polygon to the Xai network.
In light of these developments, the Xai token witnessed a significant surge in value, reaching an all-time high of $1.59 on Sunday, ahead of this week’s staking launch. This represents a notable increase from its market debut in January, with the token’s value currently standing at $1.51, according to data from CoinGecko.
As Xai continues to evolve, its strategic initiatives underline the network’s commitment to rewarding its community and broadening participation, while also laying the groundwork for its burgeoning gaming and NFT ecosystem.