Ethereum Layer-3 Gaming Network Launches Staking Pools

The Xai Foundation, which is behind the Xai layer-three gaming network created on the Arbitrum scaling network on Ethereum, has unveiled a new staking pool system.

The staking pool system seeks to reward users involved in the ecosystem. The staking pool will also ensure that those holding XAI tokens and residing in the eligible regions will have a chance to stake their tokens in a pool and generate rewards.

Xai Foundation Launches Staking Pools

Besides the launch of these staking pools, Xai has also unveiled a new token known as esXAI. This token will be used as a staking representation of the XAI token that is held in escrow. Users will have a chance to convert their XAI tokens to esXAI before staking the tokens to participate and earn rewards.

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Those holding a Sentry Key can create the staking pools. These owners will have to complete a Know-Your-Customer (KYC) protocol to be eligible to participate. The Sentry Key owners operate nodes that support the operations of the network.

Those operating network pools can also determine the distribution of the rewards from the pooled network. They also have a chance to set the percentages that they will get, as well as the rewards that will go to Sentry Key and esXAI stakers.

If a staking pool has a higher tier, the reward multiplier for staked Sentry Keys will increase depending on the amount of esXAI tokens that are staked.

Increasing User Engagement and Collaboration

According to the Xai Foundation, this setup will bolster collaboration and competition. The foundation also seeks to attract more participating stakers who want to have a higher ranking on the reward tier.

The Xai Foundation initially launched staking rewards in February. However, it is now expanding the functionality of these staking pools to give users access to more offerings that will improve their staking experience leon bet france.

A core contributor at Xai, pseudonymous Soby, opined that the expanded functionality of the staking pools will not only deliver more value to users on the platform but also support the growth of the Xai ecosystem.

“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,” Soby opined.

The expanded functionality also adds to the plans for expansion by the Xai network team. The network released its Mainnet earlier this year. The mainnet sought to support the growth of the network while supporting user functionality.

The Xai Foundation also launched the XAI token airdrop targeting node operators and those owning NFT collections linked to the Xai ecosystem. The games offered by the platform will launch on this mainnet including Tarochi, an on-chain role-playing game.