🌎 Xandeum to Launch XAND Token and Scaling Solution at Solana Event

Xandeum, a blockchain storage layer platform on Solana, plans to unveil a scaling solution, liquid staking program, and the native token XAND on September 20, 2024.

According to a press release, Xandeum will introduce these features and the XAND token at the Solana Breakpoint 2024 conference in Singapore.

Scaling Solana’s Storage Model

Some of the most significant announcements in the Solana ecosystem have come during its Breakpoint conference. The community eagerly anticipates more updates at Breakpoint 2024 Singapore.

Xandeum states that its storage layer will scale Solana’s current storage model. This technology is designed to help decentralized applications access “virtually unlimited storage.”

The platform’s tech integrates directly into Solana’s remote procedure call nodes, extending decentralization through a network of storage provider nodes, or pNodes.

At the core of this system is a dynamic fee market that ensures pNodes, validators, and liquid stakers remain incentivized. These key players earn rewards in SOL, offering a new revenue stream and significantly boosting Solana’s ecosystem.

XAND Token Launch Date

Xandeum will launch its liquid staking platform on October 29, 2024, providing SOL stakers an opportunity to earn from future Xandeum storage fees via the liquid staking token xandSOL. The XAND token will also launch on October 29.

Web3 startup Xandeum Labs, the lead developer of Xandeum, plans to debut its pNodes network in early 2025. The startup has secured $2.8 million to develop and deploy its scaling solution.

While Solana remains one of the top blockchain networks with a vast ecosystem around decentralized finance and other crypto sectors, it has faced challenges, notably network outages as the ecosystem expanded rapidly following its mainnet beta launch in March 2020.