Proof-of-Stake Blockchain XION Launches Native Utility Token
Web3 Foundry Burnt has announced the establishment of the XION Foundation, a non-profit organization that will be responsible for overseeing the development and expansion of the proof-of-stake blockchain XION. The venture-backed platform has also launched the native token $XION for its first-layer blockchain. The XION Foundation is dedicated to democratizing access to Web3 in financial services, the digital economy, and ownership. $XION will help achieve these goals and provide utility within the L1 blockchain ecosystem. In addition to network security, the token will also drive platform governance and decentralization, community incentives (including airdrops), and funding for projects built on XION.
