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Arbitrum facilitated the emergence of Xai, described as a popular Ethereum layer-3 gaming network, which announced the launch of new staking pools on April 16, 2024. These staking pools encourage greater collaborations among participants and pave the way for third-party rewards to become a focal point in the Xai ecosystem.
XAI’s Staking Pool
Staking pools often stand at the center of innovation and can pave the way for the creation of games, NFTs, and other exciting projects. On the Xai side, the purpose of utilizing staking is to ensure sustainable growth and establish a more robust gaming environment.
The team behind Xai, Xai Foundation, stated in their official announcement:
The design of the staking mechanism in the Xai ecosystem focuses on promoting collaboration.
Another important aspect to note is identified as the Sentry Key. The Sentry Key is fundamental to the staking process in the Xai ecosystem.
To create a staking pool, a staked Sentry Key is required. Owners of Sentry Keys can stake their keys in multiple pools to increase their reward rates and elevate their earnings to new levels.
In addition to the Sentry Key, another notable topic is identified as esXAI. esXAI represents a token that symbolizes XAI staked in trust and also holds significant capacity in XAI staking pools.
How Much is XAI Worth?
Despite the announcement of the staking pools, the market’s initial reaction was not very positive, possibly influenced by the price movements of BTC. According to data obtained, XAI has found buyers at $0.66 after a 6% drop in the last 24 hours.
During this period, XAI’s market cap fell to $184 million, ranking it 281st, while XAI’s 24-hour trading volume dropped by 15% to just $22 million.
This move by Xai has been noted as one of several new developments in 2024 that support the resurgence of Web3-based games. Initiatives like Saga’s “Power-Level Over 9000” campaign and a16z’s new Gaming Fund appear to be supporting innovations in the sector.
