Solana-based distributed storage solution Xandeum has shared all the details of its forthcoming token launch and liquid staking program. Today, Oct. 29, the XAND token officially goes live, offering the Xandeum community a way to support the network and earn rewards.
Solana’s Xandeum launches token, XAND airdrop kicks off
According to the official statement by its team, Xandeum, a Solana-centric data storage solution, releases XAND token, a core governance and utility asset. The airdrop of XAND kicks off today, Oct. 29 at 4:00 p.m. (UTC), to be followed by a liquid staking solution.
In total, 60 million XAND tokens will be airdropped to the community. A number of major CEXes and DEXes, including the likes of MEXC Global and Raydium, have already confirmed their decisions to list XAND for trading.
The Xandeum DAO is the vehicle that powers both the Xandeum scalable storage layer that is currently being built, as well as the storage-enabled liquid staking solution launching Oct. 29. The DAO captures both of these, which is a unique feature among such platforms. The XAND token offers complete governance over that DAO, which makes XAND one of the most utility-rich tokens on Solana.
Xandeum’s upcoming storage solution will allow Solana’s (SOL) smart contracts to scale through enabling dApps to access exabytes of data. This will enable new use cases, like porting data-rich Web2 apps to fully decentralized Web3 versions.
Xandeum is attempting to address the blockchain storage trilemma, being scalable, random-access and smart contract native at the same time.
LST mechanism goes live with rewards for SOL stakers
Wikipedia’s fully decentralized clone on Xandeum, Xandipedia, is set to showcase the opportunities of Solana’s new scaling product.
As the SOL liquid staking program for the Xandeum community enthusiasts kicks off, XAND rewards for early stakers will be boosted 10x.
The team stresses that the enhanced rewards offer is only valid for the Hyperdrive Stage, defined as the stage when the pool has less than 30,000 SOL staked.
Xandeum’s product is promoted as the first multi-validator LST on Solana that programmatically shares block rewards.
