Binance’s Launchpool Set to Debut New Gaming Altcoin
Top crypto exchange Binance is gearing up to introduce a novel gaming altcoin through its Launchpool platform.
The latest addition to the platform will be Xai (XAI), a gaming blockchain slated for inclusion on January 9th.
Commencing from January 5th through the 9th, Binance users can partake in staking BNB alongside stablecoins like First Digital USD (FDUSD) and TrueUSD (TUSD) in segregated pools to cultivate XAI tokens.
A unique feature of XAI is its ‘seed tag’ assigned by Binance, a marker indicative of projects with potentially higher volatility owing to lower liquidity. Traders dealing with tokens carrying these tags are required to pass quizzes every 90 days, a safeguarding measure to ensure they comprehend associated risks.
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As detailed in Binance’s research report on the project, XAI is a pioneering layer-3 initiative within the Arbitrum (ARB) ecosystem.
The XAI Network operates as an open and decentralized platform, aiming to empower gamers with a streamlined avenue for trading in-game items across their favorite titles, eliminating the need for direct interaction with cryptocurrency wallets.
In terms of token distribution, the project outlines a maximum supply of 2.5 billion XAI tokens, with over 11% set to form the initial circulating supply.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
