Project:xDai Chain
TOKEN:STAKE
Introduction:
xDai Chain is a USD stable blockchain launched through a collaboration between the MakerDAO Foundation and POA Network. It is also a sidechain compatible to Ethereum that uses xDai (a stablecoin issued with value 1-1 pegged to Dai on Ethereum) as native token for payment and gas, and governs through a new Proof-of-Stake algorithm — POSDAO via a chain-agnostic staking token named "STAKE".
xDai Chain avoids the necessity of holding ETH to pay for gas on Ethereum, rather, transactions and fees on the sidechain are paid with a single token, allowing for fast, cheap payments. This unique feature also makes applications built for payments and DeFi easily deployable. In the future, this model will be further extended to stable coins besides Dai and blockchains other than Ethereum, whereas STAKE will continue to serve as a governance token for these initiatives.
Token Distribution:
Seed Round:$0.355,1,408,451,16.5%;
Private Round:$0.4,562,500,6.6%;
Auction:400,000,4.7%;
Ecosystem Fund:4,000,000,46.9%;
Foundation Reward:699,049,8.2%;
Advisor Reward:651,000,7.6%;
Liquidity Fund:816,500,9.6%.
Besides, STAKE token will have a certain level of inflation as rewards for staking participants, exact figure to be determined.
Token Vesting Schedule:
Seed Round: 25% released at listing, 10% at day 28, remaining 65% distributed during the next 224 days;
Private Round: 25% released at listing, 10% at day 28, remaining 65% distributed during the next 224 days;
Auction: 100% released at listing;
Ecosystem Fund: Begins 336 days post listing, continues daily for 336 days;
Foundation Reward: Begins 84 days post listing, continues daily for 252 days;
Advisors Reward: Begins 84 days post listing, continues daily for 252 days;
Liquidity Fund: (1)187,500 will be released at BitMax listing to be used for liquidity provision and community activities;
(2) besides, 260,000 has been used to onboard early stage validators and are burned:https://etherscan.io/tx/0x3f2d3f6e0aa85b5023a550b50d527e068fdf0c9a0a73d6379fd3d29e2e9395a6;
(3) remaining 369,000 will be used for liquidity provision purposes on other exchanges and markets in the future on demand.
STAKE inflationary reward will start at phase 2 of POSDAO (84 days post listing) and will be gradually released to staking participants.
Initial Supply:8,537,500
Initial Circulating Amount:1,079,487
Initial Offering price: $0.40 - $0.55
Official Website:https://www.xdaichain.com/
White Paper:https://forum.poa.network/t/posdao-white-paper/2208
Blockchain Explorer:https://blockscout.com/poa/xdai
Telegram:https://t.me/xdaistable
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