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Staking pools are a new feature that the Xai network has introduced in a significant effort to secure its place within the Ethereum gaming sector. This most recent improvement enables XAI token holders at all levels to actively contribute to the network’s stability and growth by earning incentives through token staking.
Xai is an advanced initiative recognized for its dedication to decentralization and user engagement. It is built on Ethereum’s layer-3 Arbitrum technology.
The introduction of staking pools marks a strategic step forward. The network hopes to reward its users further and establish itself as a significant force in the emerging Ethereum-based gaming industry.
Enhancing User Participation Through Staking
The main objective of Xai’s staking pool feature is to promote greater community and user involvement. The Xai Foundation wants to incentivize users and improve the network’s security and general decentralization by giving holders of XAI tokens a smooth way to collectively stake their assets.
Staking pools have been introduced, enabling users to lock up their XAI tokens in certain pools and get incentives based on their involvement level. In addition to providing token holders with passive income, this project gives them direct control over the management and functioning of the Xai network.
Introducing esXAI Token
Xai has introduced a new token called esXAI to streamline the staking process. This token represents the XAI tokens held in escrow by users participating in the staking pools.
With this new token, XAI holders can easily convert their assets and actively participate in the staking ecosystem, improving the network’s functionality and enhancing user experience.
The esXAI token is a bridge, enabling users to convert their XAI holdings and seamlessly stake them in the designated pools. This innovative approach ensures a structured and transparent management of staking rewards, promoting network security and incentivizing continued user engagement.
Tiers & Reward Structures
The Xai staking pools operate on a tiered structure, with the reward multiplier for staked Sentry Keys increasing as the pool’s tier rises. This tiering system is determined by the total amount of esXAI tokens staked within each pool, encouraging a collaborative and competitive environment among pool operators.
The Xai Foundation’s strategy is to foster a dynamic ecosystem where different staking pools compete and collaborate to attract more participants and climb the reward tiers.
As the number of esXAI tokens staked in a pool increases, the corresponding tier and reward multiplier also increase, incentivizing users to engage and support the network actively.
This tiered structure drives user participation and promotes network decentralization as more individuals and entities become involved in the staking process and the overall governance of the Xai ecosystem.
Conclusion
The Xai Foundation’s commitment to creating a thriving, decentralized ecosystem is demonstrated by the launch of staking pools in the Xai network, representing a significant project milestone.
Enabling holders of XAI tokens to receive incentives through staking is expected to boost network security, promote broader adoption, and increase user engagement. The Xai team has demonstrated its dedication to openness and encouraging participation by implementing a tiered staking pool structure and strategically rolling out the esXAI token.
The staking pool functionality is expected to be extremely important in guaranteeing the long-term viability and prosperity of the Xai gaming ecosystem within the Ethereum framework as the network grows and develops.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
