Binance Launchpool officially launches its first sale of 2024 with Xai, a layer-3 project specializing in gaming. So what is Xai?
What is Xai?
Xai is a layer-3 blockchain built on the Arbitrum network. The Xai team aims to develop a layer-3 blockchain specifically for gaming, with the goal of providing a smooth and easy blockchain gaming experience for users. At the same time, they aim to attract traditional gamers to Xai.
According to the project, the Xai team has been developing four initial games to be released on the Xai network, including Final Form – a card game, LAMOverse – an action game, Tarochi Game – an RPG, and Web3 Warriors – a survival game.
Read more: What is GameFi? Is GameFi the Metaverse?
Xai’s Products
The Xai team is currently developing two main products: Xai blockchain and Sentry Node:
Xai Blockchain
Xai blockchain is a layer-3 blockchain that launched its mainnet on January 9th, 2024. It is also one of the first layer-3 projects to be released to the community, with a focus on gaming. Therefore, Xai blockchain is a network optimized for gaming, which can be a suitable playground for developers who intend to build game products on Arbitrum.
Before the mainnet launch, the testnet version of Xai had relatively stable metrics with an average of 4 million transactions per day, with over 500,000 wallets on the network. In addition, Xai blockchain allows users to use XAI tokens to pay for gas fees for transactions, similar to sidechain models.
Xai Sentry Node
Xai Sentry Nodes are nodes on the Xai network that validate transactions on the Xai network and relay them down to Layer 2 and Layer 1 to finalize the transactions. Currently, users only need to purchase a Sentry License Key and complete KYC to run a node for the Xai blockchain.
At the time of writing, the Xai team has successfully sold over 30,000 keys with each key priced at nearly $2,000, equivalent to approximately $60 million in revenue from key sales.
In addition to the two products above, the Xai team also collaborates with studios to develop game projects on the network, bringing diversity to the Xai ecosystem. Specifically, the game projects Xai supports include:
- Final Form: A card game developed by Ex Populus and Xai.
- LAMOverse: A third-person action shooter game. The project is being built by Ex Populus and Xai Foundation.
Highlights of Xai Blockchain
Xai is a layer-3 blockchain in the form of an Orbit Chain, allowing developers to freely design and adjust the structure of the Xai blockchain according to Arbitrum Rollup and Arbitrum AnyTrust. Where:
- Arbitrum Rollup: Allows Xai blockchain to inherit security from Arbitrum.
- Arbitrum AnyTrust: Allows Xai blockchain users to transact with very low gas fees.
In addition, Xai blockchain integrates a built-in Web3 wallet, allowing users to experience the ecosystem without worrying about actions and interactions with the wallet. Moreover, Xai blockchain is specifically designed for gaming, so developers can freely build and develop games without worrying about performance and efficiency issues.
What is Xai Token?
XAI Token Key Metrics
- Token name: Xai.
- Ticker: XAI.
- Blockchain: Arbitrum One.
- Contract: 0x4Cb9a7AE498CEDcBb5EAe9f25736aE7d428C9D66.
- Token type: Utility, Governance.
- Total Supply: 2,500,000,000 XAI.
- Circulating Supply: 277,118,150 XAI.
XAI Token Use Cases
XAI token holders have the following benefits:
- Participate in governance and voting.
- Pay transaction fees on the Xai network.
- Participate in staking activities.
XAI Token Allocation
The number of XAI tokens is allocated as follows:
- DAC and nodes: 42.09%.
- Investors: 20.79%.
- Team: 20%.
- Ecosystem: 7.5%.
- Community: 5%.
- Binance Launchpool: 3%.
- Reserve: 1.62%.
XAI Token Release Schedule
Below is the XAI token release schedule:
XAI Token Sale
On January 5th, 2024, Binance Launchpool will list its first token of the year, XAI. Specifically, users can stake BNB, FDUSD, and TUSD to farm XAI (for a maximum of 4 days).
The amount of XAI allocated to each pool is as follows:
- BNB pool: 60,000,000 XAI.
- FDUSD pool: 7,500,000 XAI.
- TUSD pool: 7,500,000 XAI.
Roadmap and Updates
Below is the Xai team’s roadmap for 2024:
Q1/2024
- Conduct an airdrop for the community.
- Launch the mainnet.
- Launch staking on the Xai platform.
Q2/2024
- Integrate other game genres, including Final Form and MIX games, into the Xai network.
Q3/2024
- Integrate the LAMOverse game.
Project Team, Investors, and Partners
Project Team
The Xai project is a product of two teams: Xai Foundation and Offchain Labs. Currently, the Xai Foundation team is anonymous, so below are the members of Offchain Labs:
- Steven Goldfeder: Co-founder and CEO of Offchain Labs, he has worked at many large multinational companies such as Microsoft, Google, etc.
- Harry Kalodner: Co-founder and CTO of Offchain Labs, before joining Offchain Labs, he was an engineer at Apple and several universities in New England.
Investors
Xai has raised $10 million through three private sale rounds, with prices of $0.01, $0.032, and $0.035, respectively. However, the timing and investors participating in the private sale rounds have not been disclosed.
Partners
Currently, the Xai project has many major partners in the gaming sector from Web3 to Web2, including Team Secret – a leading global esports organization, Thirdweb, Paima Studios, and others.
