What is Xai Network? Information about XAI Token?

Table of Contents

What is Xai Network?

Xai Network is a layer 3 blockchain built on the Arbitrum network. The Xai team aims to develop a dedicated layer 3 blockchain for the gaming sector, with the goal of providing a smooth and user-friendly gaming experience on the blockchain. Additionally, they aim to attract traditional gamers to participate in Xai.

As part of the project, the Xai team has been developing four initial games for release on the Xai network: Final Form – a card game, LAMOverse – an action game, Tarochi Game – an RPG, and Web3 Warriors – a survival game.

Binance has also announced Xai Network as its 43rd Launchpool project and the first Launchpool project in 2024.

Xai Network’s Products

The Xai team is currently developing two main products: Xai blockchain and Sentry Node, and has already released two games:

Xai blockchain

Xai blockchain is a layer 3 blockchain that went live on January 9, 2024. It is one of the first layer 3 projects launched for the community, with a focus on gaming. Therefore, Xai blockchain is optimized for gaming, making it a suitable platform for developers intending to build game products on Arbitrum.

Before the mainnet launch, Xai’s testnet had relatively stable statistics with an average of 4 million transactions per day and over 500,000 wallets on the network. Additionally, Xai blockchain allows users to use XAI tokens as gas fees for transactions, similar to sidechain models.

Xai Sentry Node

Xai Sentry Node serves as nodes on the Xai network, authenticating transactions on the Xai network and transferring them to Layer 2 and Layer 1 to complete transactions. Currently, users only need to purchase a Sentry License Key and undergo KYC to run nodes for the Xai blockchain.

Final Form

Final Form is the first game developed by Ex Populus, scheduled to launch on the Xai Blockchain in April 2024.

Ex Populus is a renowned game development studio led by seasoned experts who have worked at prestigious companies such as Pixar, Ubisoft, Activision, Blizzard, etc.

In Final Form, players will build decks and engage in automatic battles with a combination of Rogue-Lite style gameplay, which includes character role-playing, traversing maps like dungeons, turn-based play, and leveling systems.

LAMOverse

LAMOverse is the second game developed by Ex Populus, also set to launch on the Xai Blockchain. In the chaotic world of LAMO, everything, including the world itself, can be destroyed.

Players must survive and defeat opponents by controlling a flying vehicle. The game is expected to launch in the fourth quarter of 2024.

Key Highlights of Xai Network

Xai Network 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. This includes:

Arbitrum Rollup: Allows Xai blockchain to inherit security features from Arbitrum.
Arbitrum AnyTrust: Enables Xai blockchain users to transact with very low gas fees.

Additionally, Xai blockchain integrates Web3 wallets within the network, allowing users to experience the ecosystem without worrying about wallet actions or interactions. Furthermore, Xai blockchain is specifically designed for gaming, allowing developers to build and develop games without worrying about performance issues.

XAI Token

After understanding what Xai Network is, let’s dive into the project’s token, XAI.

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: Updating

XAI Token Use Case

Holders of XAI tokens enjoy the following benefits:

Participate in governance and voting.
Pay transaction fees on the Xai network.
Participate in staking activities.

XAI Token Allocation

The allocation of XAI tokens is 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:

Roadmap

Here is the Xai Network team’s roadmap for 2024:

Q1/2024:

Conduct airdrops for the community.
Launch mainnet.
Introduce Staking feature.

Q2/2024:

Integrate games such as Final Form, MIX games, and others into the Xai network.

Q3/2024:

Integrate additional games like LAMOverse.

Development Team

The Xai Network project is the product of two teams: Xai Foundation and Offchain Labs. While the Xai Foundation team remains anonymous, the following are members of Offchain Labs:

Steven Goldfeder: Co-Founder and CEO at Offchain Labs, with prior experience at major multinational companies like Microsoft and Google.
Harry Kalodner: Co-Founder and CTO at Offchain Labs, previously an engineer at Apple and various universities in New England.

Investors

Xai Network has raised $10 million from three rounds of funding. The prices ranged from $0.01 to $0.035 per token in the seed and private rounds. However, the timing and identities of the investors have not been disclosed.

Partners

Currently, Xai Network has partnered with major players in the gaming industry, ranging from Web3 to Web2. Some notable partners include Team Secret, Thirdweb, and Paima Studios.

In addition, Xai has collaborated with various entities, including Offchain Labs, Team Secret, Camelot, Rarible, LayerZero, etc.

Project Information

Now that you understand what Xai Network is, stay updated on the project through the following social media platforms:

Follow AZC.News to stay updated with daily news, participate in airdrops, and analyze potential projects for investment opportunities in the future.