STAKE (xDai Chain) Introduction

1. Brief Introduction 

The xDai chain is a stable-payments L2 sidechain, providing fast, secure transactions with full interoperability and compatibility to the Ethereum Mainnet. It features a dual token model, where xDai is the native and stable transactional token bridged from a stable token (Dai) on Ethereum, and STAKE is the underlying Ethereum mainnet asset providing security and governance capabilities.

2. Detailed Introduction

xDai stable chain was created in October 2018 with its xDai stable coin. The idea was to build a stable blockchain with a native stable coin that could be bridged directly to a sidechain, eliminating high transaction costs and volatile prices and remove the additional gas token.

More than 2 years later, the xDai chain is currently secured by 16 nominated validators, consisting of known and respected projects within the Ethereum ecosystem including Giveth, Gnosis, Shapeshift, Protofire, and others. These validators are participating in a delegated Proof-of-Stake consensus where they provide STAKE to secure the chain, but do not currently have delegators and are not subject to a rotating validator set. This will change when public POSDAO (Proof of Stake Decentralized Autonomous Organization), a new consensus algorithm, gives all STAKE holders an equal opportunity to participate and benefit from the consensus process.

The xDai chain has seen rapid adoption from projects throughout the Ethereum ecosystem as recent high gas fees and congestion have made it difficult to transact on Ethereum. As a compatible L2 solution, developers can quickly deploy their infrastructure to xDai with minimal changes. While some projects have migrated completely, others have chosen a hybrid approach, moving some resource-intensive operations to xDai while keeping others on Ethereum.

The result is an interoperable infrastructure where xDai extends and augments the Ethereum operating space with a low-cost, stable transactional environment.

With Eth2 on the horizon, xDai has plans to continue providing scalability during the multi-year transition. Once realized, xDai will be prepared to be integrated into the Eth2 infrastructure. STAKE will continue to have a valuable role as a governance token with plans to incorporate transactional sequencing capabilities and more.

3. Token Allocation

All information about token allocation can be found directly on the xDai website https://www.xdaichain.com/for-stakers/stake-token/stake-token-distribution

4. Token information and release schedule ( Only provide when available)

Total Token Supply - 8,537,500 + staking rewards

Circulating Supply - 5,056,117

Private Round Price - $0.40

Public Round Price - $0.55

Token Lock-up plan and release plan

Token release schedule can be found https://www.xdaichain.com/for-stakers/stake-token/stake-token-distribution/token-release-schedule

5. Related links

Official website: https://www.xdaichain.com/

White paper: https://forum.poa.network/t/posdao-white-paper/2208

Telegram Community Chat: https://t.me/xdaistable

Telegram Announcement Channel: https://t.me/xdai_official

Twitter: https://twitter.com/xdaichain

Discord: https://discord.gg/mPJ9zkq

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.