Xai Foundation Launches New Staking Pools

The Xai Foundation, renowned for fostering the Xai layer-3 gaming network which utilizes Arbitrum’s scaling solutions on Ethereum, has unveiled an innovative staking pool system aimed at enhancing user engagement within its ecosystem.

This development introduces esXAI, a new token that represents an escrowed version of the original XAI token, designed to facilitate the staking process. Token holders in eligible regions can now convert their XAI into esXAI, enabling them to participate in staking pools and earn rewards for their active involvement.

Staking pools on the Xai network are established by Sentry Key owners, who are required to adhere to know-your-customer (KYC) protocols. These owners operate nodes that underpin the network, playing a crucial role in its stability and performance. They have the authority to set the rules for reward distribution within the pools, determining how rewards are divided among themselves, other Sentry Key stakers, and esXAI stakers.

A key feature of the new staking system is the tier-based reward structure, which increases the reward multiplier for Sentry Keys as more esXAI is staked within a pool. This tier system is designed to foster both cooperation and competition among pool operators, creating a dynamic environment where stakers are incentivized to contribute more to the network to attain higher reward tiers.

This initiative builds on the foundation’s earlier introduction of staking rewards in February, with today’s enhancement significantly expanding the functionality and appeal of the Xai staking options.

Soby, a core contributor to Xai who prefers to remain pseudonymous, expressed enthusiasm about the new system: “We are thrilled to introduce staking pools to the Xai community. 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.”

Since its mainnet launch earlier this year, the Xai network has seen the rollout of several gaming projects. The network recently hosted an XAI token airdrop for node operators and certain NFT collection owners, further integrating its ecosystem.

Upcoming projects include a variety of games such as the card-battler Final Form and the multiplayer action game LAMOverse by Ex Populus, as well as the migration of the Crypto Unicorns franchise from the Ethereum scaling network Polygon. Additionally, dozens of indie games are in the process of adaptation for crypto gaming in collaboration with The Media Indie Exchange (The MIX), promising a vibrant future for this innovative gaming network.