Recent Binance Launchpool projects have been released one after another, from $ACE to the recently unlocked $AI, with almost weekly activities for participants. The current Launchpool project is Xai (Xai), a game blockchain built on Arbitrum L3. This article will provide a detailed explanation of the project’s background and its applications.
Table of Contents:
Xai Project Overview
Project Background
Development Background
Token and Mining Details
Token Economics
Launchpool Information
Token Valuation
On January 3rd, Binance announced the launch of the 43rd project on the new coin mining platform, Xai (XAI). This is the first game blockchain built on Arbitrum L3. Users can participate in XAI mining on the Launchpad website by depositing BNB, FDUSD, and TUSD after 8:00 AM on January 5th, 2024 (UTC+8), and it will last for 4 days.
Binance will list Xai (XAI) on January 9th, 2024, at 6:00 PM (UTC+8), and open trading markets for XAI/BTC, XAI/USDT, XAI/BNB, XAI/FDUSD, XAI/TUSD, and XAI/TRY, following the seed label trading rules.
Xai is the first L3 blockchain in the Arbitrum ecosystem and aims to bring traditional gamers into Web3 games. Xai empowers traditional gamers to participate in open trading, allowing them to engage in in-game item transactions without interacting with crypto wallets. According to the official Xai statement, the Xai network is open and decentralized, allowing anyone to operate nodes, receive network rewards, and participate in governance.
The features of Xai and the existing blockchain game problems it aims to solve include:
Scalability: L3 technology enables the scalability of hundreds of millions of users without sacrificing interoperability, composability, and security.
Gas cost: Xai addresses the gas cost issue in blockchain games by subsidizing gas fees through contracts, minimizing the impact of in-game operation costs on players.
Wallet interaction barrier: Xai seamlessly integrates crypto wallet management into the game experience, simplifying usage for traditional gamers and solving their usability barriers.
Stability: Xai ensures the stability of its blockchain network through the use of AnyTrust technology and optimized smart contract execution, providing a stable gaming environment.
XAI is the native gas token of Xai, and users can stake XAI to obtain esXAI for the following use cases:
Revenue Account: Staking esXAI in the revenue account can increase esXAI earnings for node operators.
Activity Account: Operators can stake esXAI to gain access to special game-related activities and NFTs on the Xai blockchain.
Governance Account: Staking esXAI provides governance rights, allowing participation in DAO/foundation treasury proposals.
Xai is led by the Xai Foundation and developed in collaboration with Offchain Labs, the developer of Arbitrum, and Ex Populus, a Web3 game developer. Ex Populus is a Web3 game company that raised $3 million and $8.5 million in funding in 2021, with a valuation of $80 million, led by industry veterans from renowned companies such as Pixar, Ubisoft, Activision, and Blizzard.
In June 2023, Xai, the Arbitrum game L3, announced the introduction of the Xai Token. This ecosystem token will play multiple roles, including serving as transaction gas, providing incentives for network validators, and motivating active participants and contributors. The data for this Launchpool is as follows:
Token Max Supply: 2,500,000,000 XAI
Initial Circulating Supply: 277,118,150 XAI (approximately 11.08% of the total token supply)
Mining Supply: 75,000,000 XAI (3% of the total token supply)
On December 22, 2023, Xai announced the first season airdrop on the X platform, stating that the Xai token airdrop would be distributed to the following groups on December 27th: Xai Odyssey Legendaries & Vanguard had been snapshot; Xai Sentry Keys had not been snapshot; information on exchange listings will be announced after the airdrop starts. However, on December 27th, Xai announced a delay in the XAI airdrop until the following week, as the team was working to confirm the specific date. This change may be related to the launch of Binance Launchpool.
According to Binance’s announcement, the XAI data for Launchpool is as follows:
BNB Mining Pool: A total of 60,000,000 XAI can be mined (80% of the total), with a personal hourly cap of 62,500 XAI.
FDUSD Mining Pool: A total of 7,500,000 XAI can be mined (10% of the total), with a personal hourly cap of 7,812.5 XAI.
TUSD Mining Pool: A total of 7,500,000 XAI can be mined (10% of the total), with a personal hourly cap of 7,812.5 XAI.
Mining will take place from 8:00 AM on January 5th, 2024 (UTC+8) and continue until 7:59 AM on January 9th, 2024.
According to Binance’s disclosure, Xai has raised approximately $10 million through three rounds of fundraising at prices of $0.01, $0.032, and $0.035 per XAI. Based on a price of $0.035, the initial circulating market value of the project is approximately $9.7 million with a fully diluted valuation of $87.5 million.
Comparing valuations with competitor projects, the corresponding data is as follows:
MAGIC (Treasure DAO) circulating market value is $297 million, which would correspond to an XAI token price of $1.07 if the circulating market value is the same.
MAGIC fully diluted valuation is $393 million, corresponding to an XAI token price of $0.157.
GALA circulating market value is $953 million, corresponding to an XAI token price of $3.44.
GALA fully diluted valuation is $1.58 billion, corresponding to an XAI token price of $0.63.
Related Reports:
Analyzing Binance Launchpad’s new model: Locking project chips to secure profit opportunities for retail investors.
Binance Launchpool Project: What is NFPrompt? AI-generated art combined with NFTs can unlock new wealth codes.
Binance Launchpool Wealth Code: Estimated price for this session’s $ACE (Fusionist) token?