Xai, The First L3 Chain on Arbitrum

What is Xai

Its website describes Xai as a blockchain "built to enable open trade in the next generation of video games."¹ Accordingly, it is the world's first L3 solution for AAA gaming. It is developed by Offchain Labs using Arbitrum Technology. The chain allows anyone to run a Sentry Node to earn rewards and vote in the governance of the ecosystem.

Xai is an open and decentralized network that empowers potentially billions of traditional gamers to participate in open trade, allowing them to trade in-game items in their favorite games without the necessity of interacting with crypto wallets.²

Games are being built by ExPopulus on the Xai Blockchain and they are expected to launch within 2024. They include Final Form, Lamoverse, Carnivale, Tarochi and Kashi.

Xai has its own foundation (Xai Foundation) which was established for certain roles, i.e. to serve as a custodian of the blockchain and its token (XAI), to attract 3rd party developers and games to the ecosystem, facilitate marketing strategies for game applications that are deployed on Xai, and to offer financial support or opportunities to them. ³

XAI Token

$XAI is the native gas token to facilitate transactions in the Xai network. Additionally, it is used to reward validators and also as a payment token within the gaming ecosystem - for games and in-game items.⁴

XAI is redeemable for escrowed XAI (esXAI), which in turn can be used as follows:

• Stake esXAI in the Yield Account to increase the yield for node operators.

• Stake esXAI and access special events and NFTs related to games on the Xai blockchain.

• Stakeholders of esXAI have governance rights. They are allowed to vote for proposals for the DAO/Foundation treasury.⁵

Tokenomics⁶

• Ticker: $XAI
• Token Type: ERC 20 (Arbitrum One)
• Initial Circulating Supply: 11.08% of total supply (277,118,150 XAI)
• Maximum Token Supply: 2.5 billion XAI

Allocation⁷

• Binance Launchpool: 3% of the total token supply (75 million XAI)
• Team: 20% of the TTS (500 million XAI)
• Investors: 20.79% of the TTS (519.75 million XAI)
• Reserve: 1.62% of the TTS (40.5 million XAI)
• Ecosystem: 7.50% of the TTS (187.5 million XAI)
• Community: 5% of the TTS (125 million XAI)
• DAC and Nodes: 42.09% of the TTS (1.052 billion XAI)

Note: The project raised $10MM from three rounds of fundraising and over $20 million through node sales in December 2023. The token's release schedule is until 2029.
Source

Farming XAI

XAI is the 43rd project introduced on Binance Launchpool. Eligible Binance users can farm the token by staking in any of the supported pools.

Details:

• Farming Period: 4 days starting on the 5th of January 2024 at 00:00 (UTC).
• 75 million XAI (3% of the total token supply) is allocated as Launchpool rewards.
• Only verified users are eligible to participate.
  Residents of certain countries like Belarus, Canada, Cuba, Crimea Region, Democratic Republic of Congo, etc are not allowed to participate in the Launchpool.⁸
  
  

Supported Pools

1️⃣ BNB

• Total Rewards: 60 million XAI
• Max cap per user: 62,500 XAI per hour
• Daily Rewards: 15 million

2️⃣ FDUSD

• Total Rewards Allotted: 7.5 million XAI (10% of Launchpool rewards)
• Max cap per user: 7,812.5 XAI per hour
• Daily Rewards: 1.875 million XAI

3️⃣ TUSD

• Total Rewards Allotted: 7.5 million XAI (10% of Launchpool rewards)
• Max cap per user: 7,812.5 XAI per hour
• Daily Rewards: 1.875 million XAI
  
  

Token Listing⁹

The exchange will list the token (XAI) on the 9th of January at 10:00 (UTC), with the following trading pairs:

• XAI/BTC
• XAI/USDT
• XAI/BNB
• XAI/FDUSD
• XAI/TUSD
• XAI/TRY

Other Info

Xai is in its Testnet phase and the Mainnet is expected to launch within the first quarter of this year, enabling XAI Redemptions, esXAI staking, etc.¹⁰ The Xai Odyssey campaign is on Galxe. There's also one on Zealy. They are keen on raising awareness of the project and stress-testing the network too.

For more details about the project, check out the following sources:

• Website
• X Account
• Discord
• Xai Gitbook
• Bridging Stage
• Minting Stage
• Binance / Research / Whitepaper

_{[NFA. For infotainment only. DYOR.]}

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_{Lead image edited on Canva. Photo/logo from Xai Gitbook. No copyright infringement intended. 04012023/19:35ph}

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