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Meet Binance’s new Launchpool, the $XAI – A gaming Arbitrum Layer 3 Chain

TL;DR

  • Xai is the Arbitrum ecosystem’s first layer3, designed to onboard traditional gamers to web3 gaming and housed by Binance.
  • From January 5th at 00:00 UTC, users can stake BNB, FDUSD, and TUSD assets for four days. Stakers will receive XAI tokens for participating in Launchpool.
  • Following the initial listing on January 9th, XAI tokens will be available in six trading pairs.

Welcome to the future of decentralized gaming innovation with Binance‘s groundbreaking Launchpool initiative, featuring the eagerly anticipated $XAI – a gaming Arbitrum Layer 3 Chain. In an era where blockchain technology is rapidly transforming various industries, Binance has set its sights on revolutionizing the gaming landscape by introducing an advanced Layer 3 solution built on the Arbitrum protocol.

Binance goes all in in the latest expansion

Xai is the arbitrum ecosystem’s first layer3, designed to transition traditional gamers to web3 gaming. This innovative concept from Binance has solved numerous challenges in the gaming sector. 

First, it has addressed the issue of scalability: Layer3 technology allows for scaling to hundreds of millions of users while maintaining interoperability, composability, and security.

Gas Fees: Xai addresses the issue of gas fees in blockchain gaming by using a novel gas subsidy contract, entirely removing gas prices and making in-game actions low friction for players, hence supporting the growth of the blockchain gaming ecosystem.

Wallet Interaction Difficulties: Xai reduces friction for traditional gamers by seamlessly integrating crypto wallets into the backend of the gaming experience and managing them on the player’s behalf to streamline onboarding and usage.

Reliability: Xai ensures the reliability of its blockchain network by deploying strong AnyTrust technology and optimizing smart contract execution, resulting in a stable gaming environment.

What can XAI be used for in the Binance Ecosystem?

Xai has raised $10MM in three rounds of financing at $0.01, $0.032, and $0.035 per XAI, respectively.

According to the Binance report, as of January 3rd, 2023, the maximum supply of XAI is 2,500,000,000, and the circulating supply upon listing stands at about 277,118,150 (11.08% of the maximum token supply). 

Xai works as an Arbitrum Orbit chain, using Anytrust technology to achieve maximum speed and minimal costs. Unlike most Orbit chains that are “self-managed,” Xai receives direct technical support from Offchain Labs.

The Sentry Node is an observation node that observes the Xai rollup protocol and, if an invalid block is suggested, raises an alarm (using whatever means its operator chooses) so that others can intervene. Sentry nodes’ aim is to solve the verifier’s quandary.

XAI is Xai’s native gas token; users can exchange XAI for esXAI, which can then be staked for the following utilities:

Yield Account: Staking esXAI in the yield account enhances the yield of esXAI for node operators.

Culture Account: Operators can stake esXAI to gain access to special events and NFTs related to gaming on the Xai Blockchain.

Governance Account: Staking esXAI offers governance rights, allowing participation in the DAO/Foundation treasury suggestions.

Arbitrum Orbit’s Layer 3 networks can now charge transaction fees with ERC-20 tokens

Arbitrum Orbit, which enables developers to build Layer 3 blockchains on top of the Ethereum Layer 2 network Arbitrum, has added support for bespoke gas tokens, or tokens used to pay for blockchain transaction fees.

Arbitrum announced Thursday that the development now allows Orbit blockchains to employ chosen ERC-20 tokens (that match the technical specifications) to handle gas or transaction fees on their networks. Until recently, Orbit chains could only use ether as a gas token.

The ability to use ERC-20 tokens as gas tokens will allow Orbit chains to provide utility for their own tokens and build their ecosystem. 

Arbitrum Orbit was introduced in March 2023 to encourage more developers to the Arbitrum ecosystem. Arbitrum One and Arbitrum Nova, the two Layer 2 networks of Arbitrum, can be used to create orbit chains. Custom petrol tokens will only be supported on Orbit AnyTrust chains.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Florence Muchai

Florence is a crypto enthusiast and writer who loves to travel. As a digital nomad, she explores the transformative power of blockchain technology. Her writing reflects the limitless possibilities for humanity to connect and grow.

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