By Michael Scott
The Arbitrum-based layer-3 gaming network Xai confirmed plans to unveil the staking rewards with the potential to expand in March. Xai is a layer-3 network that runs on the Arbitrum technology for gaming.
Xai is set to unveil the flagship staking rewards in a follow-up to the XAI token airdrop launched in January. The phase targets rewarding the stakers alongside the early supporters. Xai tentatively considers the rollout beginning on Tuesday.
Reflection on Xai Staking Rewards
Xai Foundation is set to generate staking capabilities to reward the Sentry Keys owners considered the non-fungible token (NFT)–based nodes run by the network supporters.
The Foundation is edging closer to selling nearly 35,000 of the observer nodes to over 6,300 unique owners. The Foundation profiles the Sentry Key operators as the primary beneficiaries of the XAI airdrop concluded in January.
The unveiling of staking alongside the escrowed XAI token (esXAI) will enable the Xai network to offer additional incentives to the owners. The Foundation indicated that each Sentry Key will pair with 25,000 esXAI representing XAI tokens.
The Foundation indicated that owners of multiple keys could stack the tally, implying that one holding five Sentry Keys in a wallet can stake 125,000 esXAI.
Xai Foundation Unveils Multiple Tiers
Xai Foundation is planning to implement reward tiers that feature a bonus to ascertain whether each Sentry Key owner benefits from the boosted esXAI staking rewards. In particular, the Bronze Tier comprises those whose staked esXAI are capped below 1,000 and lack a multiplier.
The Silver tier is within 1,000 to 9,999 esXAI, while the Gold is capped below 100,000 esXAI. The Platinum tier attracts the range of 100,000 – 999,999 esXAI, while the Diamond level is above 1 million of staked esXAI. The multipliers vary up to the maximum of 16X.
Xai clarifies that the more the individual stakes and invests, the higher the chances of receiving rewards at the network. Such is tied to the nodes.
Xai Foundation is set to accommodate individuals who do not own the Sentry Key and those who forego staking enormous XAI amounts. The Xai Foundation targets a broader scope in March that will pool the staking rewards.
The broader scope will enable the Sentry Key node owners to run the pools, allowing the general XAI token holders to stake the esXAI.
Xai Network Governance Pool
The Xai Foundation acknowledges the ongoing development of mechanisms on how staking rewards within the pools will run. The Foundation targets increased tier thresholds by March relative to the outcome from the pioneer staking.
Xai Foundation targets imposing mandatory staking for both Sentry Key owners and individual stakers using them.
The Xai Foundation illustrates that the pools will facilitate the Xai games and similar projects to attract audiences to the airdrop NFTs and tokens. The pools will enable the XAI token holders to delegate governance voting rights to the pool.
The unveiling of the staking rewards and governance pools precedes the launch of several game series. The Xai network is lining up several titles, such as the card battler Final Form. Also in the pipeline is the metaverse-based action game identified as LAMOverse, created by Ex Populus, the studio behind the Sentry Key software and collaborating with the Xai Foundation.
Xai network is set to witness inflow with the NFT game Crypto Unicorns confirming its migration from the Polygon blockchain.
Xai Token Market Activity
A review of the Xai token activity shows that it rallied to an all-time high of $1.59 on Sunday, February 25, as speculators awaited positive movement following the staking launch. The token has since plunged to record over 8% decline in the past 24 hours to exchange hands at $1.35 as per CoinGecko.
The decline has eroded the fortnight rally to 29%, with Xai’s monthly run at 58.7%. The Xai token registered a $102 million daily trade volume, with its market capitalization at $375 million.