Summary
Ethereum scaler Arbitrum’s gaming network, Xai, launched an initial airdrop of 125 million XAI tokens last week. The token has seen a significant increase in value, reaching an all-time high price of $1.12. Xai is a gaming-centric network built on top of Arbitrum and aims to become a destination for blockchain gaming. The airdrop rewarded users who held early Xai NFT collectibles and those who purchased Sentry Keys to operate validator nodes. The value of the airdrop has grown from $70 million to $140 million. Airdrops are a way to reward early users and contributors in crypto protocols and apps.
Key Points
1. The Xai gaming network launched its initial airdrop, offering 125 million XAI tokens to early users and supporters. The token saw a significant increase in value, reaching an all-time high price of $1.12.
2. Xai is a gaming-centric “layer-3” network built on top of Arbitrum, a layer-2 scaling network for Ethereum. The network aims to become a destination for blockchain gaming.
3. The value of the entire Xai airdrop has grown from $70 million shortly after the token launch to approximately $140 million. Airdrops are a way for crypto protocols to reward early users and contributors and decentralize the governance process.