Xandeum, Solana (SOL) based storage scaling project, has confirmed the upcoming XAND token launch and liquid staking program (LST), as reported to Finbold on Tuesday, October 29.
Launching on October 29 at 16:00 UTC, the XAND token will empower members to earn rewards while engaging with the Xandeum’s ecosystem.
Both centralized and decentralized exchanges (DEXs), such as Raydium and MEXC, have already expressed support for the token.
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XAND token airdrop
This launch entails a 60 million XAND token airdrop for eligible users.
Through DAO governance, the XAND token offers substantial utility as one of Solana’s most versatile assets.
Early SOL stakers within Xandeum’s liquid staking system will receive a 10x boost in XAND rewards during the “hyperdrive” phase, active until the staking pool reaches 30,000 SOL.
Additionally, the LST introduces a first for Solana as a multi-validator liquid staking token that programmatically distributes block rewards.
Driving the initiatives is the Xandeum DAO, which manages the scalable storage layer and the newly developed storage-enabled liquid staking solution debuting on October 29.
Xandeum storage layer
Xandeum’s groundbreaking storage layer helps decentralized applications (dApps) on Solana handle exabytes of data.
As such, this technology is expected to pave the way for dApps capable of managing data-intensive tasks (for example, integrating data-rich Web2 apps within decentralized Web3 frameworks).
The project is also developing “Xandipedia,” a decentralized version of Wikipedia, as a proof of concept demonstrating the potential of the new storage layer.
Capable of integrating with Solana’s Remote Procedure Call (RPC) nodes directly, the storage layer will delegate data management to a decentralized network of storage provider nodes (pNodes) overseen by Solana validator nodes.
This approach offers seemingly unlimited, rapid-query storage for Solana dApps while also preserving decentralization and expanding the potential of the SOL ecosystem.
