Recently, the debut of the Xai project on Binance has attracted widespread attention and heated discussions in the community. In the Chinese community, in addition to discussions on the overall development of the Xai project, the topic of the price of the Xai token is particularly hot. As a member who is deeply involved in the Xai project, I will provide you with a rational analysis and summary based on Binance's research report on the Xai project to help you understand the current situation more comprehensively.
Click to view Binance’s research report on the Xai project
It is important to emphasize that the official Xai Discord has clearly stated that community members should not over-discuss the listing price of Xai tokens. I strongly support this. The price reflects the market's assessment of the value of the project, and excessive attention to the price cannot substantially promote the development of the project. The token price of a project that lacks real value support is nothing more than a bubble of speculation. Xai, as the most anticipated game public chain on ARB, its value and price should be the natural result of the development of the entire ecosystem. We should make it clear that it is the development of the project that determines the price, not the price that drives the development of the project. A deep understanding of this causal relationship is crucial for us to correctly view the market and participate in community activities.
About the Xai Project
From Binance’s research report, we can summarize the following information:
Xai is the first Layer3 platform in the Arbitrum ecosystem, designed to help traditional gamers transition to web3 games. It enables traditional players to participate in public transactions of in-game items through an open and decentralized network without directly interacting with crypto wallets. Xai solves multiple key problems: Solving scalability issues through Layer3 technology enables serving hundreds of millions of users without sacrificing interoperability, composability, and security; Solving the Gas fee problem in blockchain games through innovative Gas subsidy contracts, eliminating Gas fees in games, reducing players' operational resistance, and promoting the development of the blockchain game ecosystem; Solving the barriers to interaction for traditional gamers by seamlessly integrating cryptocurrency wallets into the backend of the gaming experience and managing wallets on behalf of players; Ensuring the stability of its blockchain network by implementing powerful AnyTrust technology and optimized smart contract execution. XAI is Xai's native Gas token, and users can exchange XAI for esXAI and then stake it to obtain the following benefits: increase the revenue of node operator esXAI, obtain the right to access game-related special events and NFTs on the Xai blockchain, and obtain governance rights by staking esXAI to participate in voting on DAO/foundation financial proposals. The main components of Xai include: running as an Arbitrum Orbit chain, using Anytrust technology to achieve maximum speed and minimum cost. Unlike most self-managed Orbit chains, Xai has direct technical support from Offchain Labs; the sentinel node is an observation node that monitors the Xai Rollup protocol. If an erroneous block is proposed, it will issue an alarm so that others can intervene. The purpose of the sentinel node is to solve the dilemma of the validator. Xai has raised a total of approximately US$10 million through three rounds of financing, with the XAI price in each round being US$0.01, US$0.032, and US$0.035 respectively.
For details on the entire development of the Xai project, see: Game Public Chain Xai: Binance Square Database
About the circulation of Xai project tokens
From Binance’s research report, we can summarize the following key information:
As of January 3, 2023, the maximum supply of XAI is 2.5 billion, and the circulating supply at the time of listing is approximately 277 million, accounting for approximately 11.08% of the maximum token supply.
Subsequent token release curve:
Note: At the Token Generation Event (TGE), 2.08% of the total token supply will be released from the DAC and Node portions, and the rest will be released dynamically, so it is not included in the above chart. In addition, all Gas fees will be destroyed.
About the highlights of the Xai project
The test network has more than 4 million daily transactions, more than 150 million total transactions, and nearly 500,000 connected wallets.
Over $20 million was raised in about 3 weeks through the node sale.
Xai Blockchain
Xai aims to enable open trading in the next generation of video games. With Xai, billions of traditional gamers have the opportunity for the first time to own and trade valuable in-game items in their favorite games without having to interact with a crypto wallet. The mainnet will be launched on January 9, 2024.
data:
The total transaction volume on the test network exceeded 150 million times.
500,000 testnet wallets created.
The average daily transaction volume exceeds 4 million times.
Website: https://xai.games/
Xai Sentinel Node
A Sentry Node is an observation node that monitors the Xai Rollup protocol. If an erroneous block is proposed, the Sentry Node will sound an alarm by whatever means its operator chooses so that others can intervene. The purpose of the Sentry Node is to solve the dilemma of the validator (see: Xai Game Public Chain Sentry Node Detailed Interpretation).
data:
Generated gross revenue of over $20 million in 3 weeks.
More than $2.5 million in rewards awarded to referring partners.
Over 30,000 keys sold.
There are over 5,000 wallets that purchased at least 1 key.
More than 5,000 nodes have been activated.
Website: https://xai.games/sentrynodes
Cooperation and ecological development that have been achieved
Offchain Labs: Best known for deploying Arbitrum, a Layer 2 blockchain solution. The collaboration with Xai has three key aspects: 1) deploying Xai, a Layer 3 chain built on Arbitrum; 2) designing Xai sentinel nodes to solve the validator’s dilemma; 3) building a bidirectional canonical bridge between Arbitrum One and Xai.
Team Secret: A well-known name in the esports and gaming community. The main goal of this collaboration is to revolutionize game distribution using blockchain technology.
Media Indie Exchange (MIX): A well-known platform in the independent game community. This collaboration aims to filter from the rich independent games and enhance their distribution through blockchain technology. MIX brings a strong resource library of more than 100 games to the collaboration, ready to be deployed on the Xai platform.
Rug Radio: An active player in the digital media and blockchain space. This partnership aims to leverage Rug Radio’s unique position in the media space to promote and distribute games on the Xai platform.
Camelot: The DEX (decentralized exchange) that will be deployed on Xai.
Rarible: The NFT marketplace to be deployed on Xai.
Thirdweb: A web3 development toolkit that allows developers to attract users through wallets, build and deploy smart contracts, accept fiat payments, and scale applications on any EVM chain.
LayerZero: An interoperability protocol to be deployed on Xai.
About the subsequent game launch of the Xai project
Final Form Game
Final Form is the first game developed by Ex Populus to be deployed to the Xai blockchain and published by the Xai Foundation. In Final Form, players will participate in high-frequency deck building and auto-battles, incorporating Rogue-Lite mechanics. The game is scheduled to be released in April 2024.
Website: https://expopulus.com/games/final-form
LAMOverse Games
LAMOverse is the second game developed by Ex Populus that will be deployed to the Xai blockchain and published by the Xai Foundation. In LAMOverse, chaos is the core feature of the game. Everything in the game, including the world itself, is destructible. Players need to drive customized hover cars, survive opponents, and cause destruction to them. The game is scheduled to be released in the fourth quarter of 2024.
Website: https://expopulus.com/games/lamoverse
Tarochi Game
Taroch is an exciting on-chain role-playing game (RPG) where every quest, every challenge, and every monster captured will become part of blockchain history. Players will travel across a vast and immersive land, interact with NPCs, unlock achievements, and uncover quests.
data:
Completed 17,000 battles.
2,500 unique players in the first month.
Over 100,000 transactions.
Website: https://twitter.com/TarochiGame
Web3 Warriors Game
Web3 Warriors is an epic on-chain survival game. Players need to escape the dungeon by fighting elemental lords, endless undead enemies, and terrifying bosses. By earning $BATTLE tokens, players can purchase NFTs in the in-game store to upgrade their characters.
data:
Total game time is approximately 164 days (about 4000 hours).
The average gaming session lasted 30 minutes, with the 90th percentile being 1.5-2 hours.
The peak number of weekly active users and monthly active users reached 22.1 thousand.
The average first-day user retention rate is 40%.
Website: https://web3warriors.thirdweb.com/
Summarize
I have deep confidence in the development and prospects of the Xai project. Xai is not only the first Layer3 platform in the Arbitrum ecosystem, it is also a revolutionary initiative dedicated to introducing traditional gamers to the world of Web3 games. Through its open and decentralized network, and innovative approaches to solving problems such as scalability, gas fees, and wallet interactions, Xai has demonstrated its leading position in the blockchain gaming field.
As a member of the community, we should pay more attention to the value and long-term development of the Xai project itself, rather than short-term price fluctuations. The Xai project has proven its strong potential and expansion capabilities through close cooperation with multiple game and technology partners. We believe that as Xai continues to develop and improve, its true value will gradually emerge, and the market will respond positively to it.
Therefore, let us focus on supporting and paying attention to the substantial progress of the Xai project, and witness together how it will open a new chapter in the field of blockchain games. Such focus is our most valuable contribution as community members.
