Key highlights:
- Xandeum’s new XAND token launch and storage-based staking go live on October 29, supported by Raydium and MEXC.
- Early XAND stakers gain 10x reward boosts in a multi-validator system that distributes block rewards.
- Xandeum’s scalable storage model enables Solana dapps to access extensive decentralized data storage for web3 growth.
XAND token empowers storage and staking capabilities on Solana
Xandeum, a blockchain project focused on advancing Solana’s scalability, is set to launch its XAND token and introduce a storage-enabled liquid staking solution on October 29. Supported by exchanges like Raydium and MEXC, the launch also marks an airdrop of 60 million tokens to eligible community members. The XAND token will grant holders governance power over the Xandeum DAO, enabling them to guide both the project’s decentralized storage development and staking rewards program.
The innovative liquid staking token, xandSOL, offers early stakers on Xandeum’s platform a significant reward boost. Stakers earn rewards with a 10x multiplier while the staking pool remains below 30,000 SOL in the initial “hyperdrive stage.” Additionally, the platform introduces Solana’s first multi-validator staking token, allowing for programmatic distribution of rewards across validators to further decentralize the staking ecosystem.
Solving the blockchain storage trilemma for decentralized applications
Xandeum’s upcoming storage infrastructure aims to address blockchain’s long-standing storage trilemma, allowing scalable, random-access, and smart contract-integrated data storage. The platform’s storage system operates through a network of decentralized “pNodes,” working in conjunction with Solana validator nodes. This integration promises to enable Solana dapps to scale by accessing extensive data storage capabilities directly through Solana’s RPC nodes, potentially supporting large-scale web2 applications transitioning to decentralized web3 alternatives.
To showcase the new storage capabilities, Xandeum is developing “Xandipedia,” a fully decentralized platform that mirrors Wikipedia’s functionality, highlighting the platform’s potential to handle high-volume, data-rich applications.
The bottom line
With its XAND token and multi-validator liquid staking solution, Xandeum is positioning itself as a key player in the Solana ecosystem by advancing both decentralized storage and staking functionality. The Xandeum DAO, powered by XAND governance, promises a high-utility platform designed to support the growth of data-intensive decentralized applications and drive broader adoption of Solana-based web3 technology.
See our Solana sector to find more Solana projects. If you’re looking for a more curated list, here are the best Solana meme coins to buy.
Source: https://coincodex.com/article/51360/xandeum-token-launch/