Binance announced its 43rd Launchpool project, Xai (XAI), which is set to be the first Layer-3 network in the blockchain space, built on the Arbitrum ecosystem. The announcement was made on January 3rd through the official Binance blog, highlighting Xai’s focus on gaming.
The Launchpool event is expected to be available within 24 hours, allowing users to participate in the XAI token farming event starting from January 5th at 03:00 AM for four days. Participants can stake their BNB, BUSD, and TUSD assets in different pools to join the event.
Binance plans to list XAI on January 9th at 13:00, with trading pairs including XAI/BTC, XAI/USDT, XAI/BNB, XAI/BUSD, XAI/TUSD, and XAI/TRY. This listing will provide investors with multiple options to trade XAI tokens.
Launchpool details revealed that the total supply of XAI tokens is 2.5 billion, with 75 million XAI tokens, which is 3% of the total supply, being offered during the event. The initial number of tokens to enter circulation on January 9th is 277,118,150 XAI, representing 11.08% of the total supply. The BNB staking pool has been allocated 60 million XAI tokens, while the BUSD and TUSD pools have been allocated 7.5 million XAI tokens each.
Investors are keen on the potential of Xai as it introduces a new layer to the blockchain technology stack, promising enhanced capabilities and a niche in the gaming industry. The allocation of tokens across different staking pools aims to ensure a wide distribution and participation in the network’s growth.
The introduction of Xai as a Layer-3 network is a significant development in the blockchain ecosystem, offering a new level of scalability and functionality. Binance’s continued support for innovative projects through Launchpool events showcases the platform’s commitment to the advancement of the cryptocurrency industry.