Xandeum confirms the October 29 XAND token launch and xandSOL liquid staking

Xandeum, Solana (SOL) based storage scaling project, has confirmed the upcoming XAND token launch and liquid staking program (LST), as reported to Finbold on Tuesday, October 29.

Launching on October 29 at 16:00 UTC, the XAND token will empower members to earn rewards while engaging with the Xandeum’s ecosystem.

Both centralized and decentralized exchanges (DEXs), such as Raydium and MEXC, have already expressed support for the token.

Picks for you

$119 billion VanEck predicts Bitcoin to hit $3m and become a global reserve asset 16 hours ago
Bitcoin is ‘under Vampire attacks’ warns crypto analyst 18 hours ago
Robinhood enters election trading, launches $1 payout contracts 18 hours ago
Bitcoin bull cycle ‘didn't even start yet’, says analyst 18 hours ago

XAND token airdrop

This launch entails a 60 million XAND token airdrop for eligible users. 

Through DAO governance, the XAND token offers substantial utility as one of Solana’s most versatile assets.

Early SOL stakers within Xandeum’s liquid staking system will receive a 10x boost in XAND rewards during the “hyperdrive” phase, active until the staking pool reaches 30,000 SOL.

Additionally, the LST introduces a first for Solana as a multi-validator liquid staking token that programmatically distributes block rewards.

Driving the initiatives is the Xandeum DAO, which manages the scalable storage layer and the newly developed storage-enabled liquid staking solution debuting on October 29. 

Xandeum storage layer

Xandeum’s groundbreaking storage layer helps decentralized applications (dApps) on Solana handle exabytes of data.

As such, this technology is expected to pave the way for dApps capable of managing data-intensive tasks (for example, integrating data-rich Web2 apps within decentralized Web3 frameworks). 

The project is also developing “Xandipedia,” a decentralized version of Wikipedia, as a proof of concept demonstrating the potential of the new storage layer.

Capable of integrating with Solana’s Remote Procedure Call (RPC) nodes directly, the storage layer will delegate data management to a decentralized network of storage provider nodes (pNodes) overseen by Solana validator nodes. 

This approach offers seemingly unlimited, rapid-query storage for Solana dApps while also preserving decentralization and expanding the potential of the SOL ecosystem.

Comments

Post a Comment

Popular posts from this blog

Barry Silbert deletes old tweets amid GBTC selloff

Under-fire Digital Currency Group founder Barry Silbert has apparently deleted a raft of his old tweets . According to his X (formerly Twitter) account, Silbert signed up in October 2011, however, at the time of writing, his timeline shows no tweets or replies older than January 5 this year. Luckily for die-hard Silbert fans, X user Pledditor has screenshotted some of his “greatest hits.” Looks like @BarrySilbert has deleted all his old tweets The good news? I have screenshotted some of his greatest hits pic.twitter.com/GLWPbCf5mN — Pledditor #FixTheFilters (@Pledditor) January 15, 2024 Read more: Former DCG advisor Larry Summers on list of Jeffrey Epstein’s ‘Harvard friends’ Among the messages saved by Pledditor is a classic in which Silbert brands himself a “ complete and total professional failure ,” and one in which he advises Dogecoin holders to convert it to bitcoin. It’s not clear what prompted Silbert’s Social Media cull but he’s currently taking Social Media flak
Read more

Trader Issues Warning on Solana Rival That’s Up 247% in One Month, Updates Outlook on LDO and One Other Altcoin

Image
A widely followed crypto strategist warns that a Solana (SOL) competitor that’s up more than 3x in the last 30 days is flashing signals that it may have printed a short-term top. The pseudonymous analyst known as Altcoin Sherpa tells his 205,700 followers on the social media platform X that while layer-1 blockchain Sei (SEI) is still in an uptrend, it starting to show signs of bullish exhaustion. “Why it looks good: -consolidation and highly bullish high time frame market structure -still bullish on all time frames -EMAs (exponential moving averages) all catching up + other alts looking strong Why it doesn’t: -could be an exhaustion pump here and last big move up -could be rotation from others (SOL/SEI/etc/) to ETH season also known as ARB/LDO/OP -dying volume/some signs of distribution here.”  Source: Altcoin Sherpa/X At time of writing, SEI is trading for $0.785, up over 247% from its 30-day low of $0.226. The trader is also keeping an eye on the price
Read more

Nuant becomes a member of the OpenWealth Association

On January 18, Nuant joined the OpenWealth Association, contributing to advancing digital assets risk management within Swiss banking, WealthTech, and traditional finance, per the information shared with Finbold. In doing so, Nuant recently joined traditional finance entities such as Credit Suisse, LGT, VP Bank, and WealthTech firms like Assetmax and InvestSuite. This strategic partnership represents a noteworthy progression in crypto investment risk management within Switzerland’s financial sector. The OpenWealth Association aims to establish, uphold, and implement open Application Programming Interface (API) standards within the global wealth management community. This commitment aims to facilitate seamless financial data exchange among institutions. Nuant as representative of the CeDeFi sector Cryptocurrency Anthony Scaramucci says Bitcoin to skyrocket to $170,000 by 2025 Cryptocurrency Donald Trump says he’ll ‘never allow a CBDC’ if elected
Read more