Xandeum, a blockchain storage layer platform built on Solana, is set to unveil its scaling solution, liquid staking program, and the native token XAND on September 20, 2024, during the Solana Breakpoint 2024 conference in Singapore.
Enhancing Solana’s Storage Model
The upcoming announcements are highly anticipated, following previous significant updates in the Solana ecosystem, including the Firedance testnet in 2023. Xandeum aims to enhance Solana’s current storage model by providing decentralized applications with “virtually unlimited storage” through its innovative technology.
According to a press release, Xandeum’s platform integrates directly into Solana’s remote procedure call nodes, thereby extending decentralization with a network of storage provider nodes, referred to as pNodes. The solution features a dynamic fee market that incentivizes pNodes, validators, and liquid stakers to maintain an efficient and decentralized storage network. Participants in this ecosystem will earn rewards in SOL, potentially creating a new revenue stream and bolstering Solana’s overall ecosystem.
Upcoming Launches
The XAND token will debut on October 29, 2024, alongside the launch of Xandeum’s liquid staking platform, allowing SOL stakers to earn from future Xandeum storage fees through a liquid staking token called xandSOL. Furthermore, Xandeum Labs, the lead developer behind Xandeum, plans to introduce its pNodes network in early 2025, backed by $2.8 million in funding for development and deployment.
Despite being one of the leading blockchain networks with a robust ecosystem focused on decentralized finance and other sectors, Solana has faced challenges, including network outages due to rapid expansion since its mainnet beta launch in March 2020. The Xandeum initiative represents a strategic effort to address these scalability issues and enhance Solana’s infrastructure.
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