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One of Xai’s key features is that it is built on an open and decentralized network. This allows anyone to participate in node operation, earn network rewards, and participate in governance processes. Through its decentralized structure, it enables direct value transfer between users and allows them to safely exchange in-game assets.

Xai was developed using Arbitrum technology by Offchain Labs. Arbitrum is an Ethereum-based solution designed to increase scalability and transaction speed. This means that Xai can provide its users with fast and low-cost transactions, making it easier to interact in in-game economies.

This platform offers traditional gamers the opportunity to benefit from the potential advantages of in-game economies without requiring them to integrate with the crypto world. It both expands the possibilities of open trading and provides users with more control and security through its decentralized structure.

Xai Blockchain

Developed by Offchain Labs and overseen by the Xai Foundation, Xai Blockchain is purpose-built to meet the needs of web3 gaming at scale. Designed with gaming in mind, the blockchain offers traditional gamers a simplified wallet and account experience, while providing developers with increased gas and contract limits.

It supports an environment of trust and transparency for all participants by creating a fully decentralized ecosystem. By leveraging Ethereum’s robust security measures, Xai Blockchain ensures its resilience against potential hacks and other security vulnerabilities.

Xai Token

The Xai token will be used for dual purposes on the Xai blockchain. First, it will serve as a designated gas token to facilitate transactions within the network. Additionally, Xai tokens will be awarded to validator nodes that play a role in verifying transactions. In addition, the Xai token will function as the primary token within the gaming ecosystem and will be accepted in games and in-game payments.

Roadmap

Phase 2 will focus on the Token Generation Event (TGE), the launch of the Mainnet, the upgrade of nodes for staking and redemptions, and the distribution of primitives to the chain.

TGE – January

The XAI Token Generation Event (TGE) will coincide with the token listing on a Centralized Exchange (CEX) or Decentralized Exchange (DEX). This date is tentative as it is dependent on a third-party exchange for listing.

Mainnet Launch – January

Following the TGE, the mainnet will open and lay the groundwork for XAI Redemptions, esXAI staking, and the release of the network’s first game, Final Form.

XAI Use Cases – January

After the TGE, esXAI will be convertible to fully-transferable XAI, allowing owners to use their assets.

Staking – January

After the TGE, staking will be possible for esXAI, allowing owners to stake their tokens for various benefits.

DEX Partner – February

One of the largest DEX projects in the industry will go live on Xai, providing network participants with a productive environment for liquidity growth.

Infrastructure Partner – February

An industry-leading partner will deploy fully isolated wallets, on-ramps/off-ramps, and various foundational utilities to Xai. This bridge partner, combining Arb One’s leading liquidity with Xai’s industry-leading transaction speeds, will develop and implement a groundbreaking solution that supports potentially billions of gamers worldwide.

Marketplace Partner – March

Trade, swap, or hold in-game items, NFTs, and collectibles on one of the best marketplaces in the industry.

Token Tokenomics

The Xai network and ecosystem leverage XAI and esXAI (escrowed XAI) to bring balance and integrity to the ecosystem.

• Ecosystem: 7.5%
• Team: 20.0%
• For Node Setup and Community: 50.1%
• Investors: 22.4%

Initial Allocation

• Team: 20% of the total supply was allocated to the core team and early contributors. This will unlock over a 6-month period starting from the TGE. The allocation will unlock over a 36-month period. Total 42 months.
• Investors: 22.41% of the total supply was purchased by investors in the first rounds. This will unlock over a 6-month period starting from the TGE. The allocation will unlock over a 24-month period. Total 30 months.
• Ecosystem: 2% of the total supply was allocated to market makers. This allocation will be unlocked immediately at the TGE. 5.5% of the total supply was allocated to the ecosystem. This allocation will unlock over a 6-month period starting from the TGE and will be unlocked over a 36-month period. Total 42 months.

Benefit and Purpose of the XAI Token

• XAI is the registration token of the Xai blockchain. Its benefits are aligned with traditional token benefits on popular L1s and L2s, and XAI is fully transferable.
• It is the gas fee token on the Xai L3.
• It can be used for esXAI.

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Y00TS said, “We still love Polygon. The DeGods and y00ts community tweeted that it’s time for a merger. They added that the transition date will be announced shortly.

Once the NFT collection is successfully transferred, it will join the DeGods collection on Ethereum. The two NFT projects were created on Solana in October 2021 by someone known as Frank. In April, the team moved DeGods to Ethereum.

After the announcement of the NFT collection’s transition, Frank said, “We tried our best to make it work, but we just need to bring our two communities together.”

In the spirit of transparency, we want to be clear that Season 3 will be entirely about DeGods. We would be happy if the Y00TS community joins us. In return, we will go even harder on y00ts 2. We are all one big family.” He added these words.

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Y00ts’s Floor Price Increased

According to Coin Engineer data, the floor price increased by 7.2% in the last 24 hours to 1.88 Eth. However, Degods’s floor price decreased by 4.9% to 8.9 Eth. Additionally, DeGods is currently the 3rd most traded NFT collection in terms of 24-hour volume, and the NFT is the 8th most traded collection.

The article Polygon-based Y00TS NFTs to Move to Ethereum first appeared on Coin Engineer.

The post Polygon-based Y00TS NFTs to Move to Ethereum appeared first on Coin Engineer.