Blockchain Storage Platform Xandeum’s Expansion Plans
Xandeum, a blockchain storage layer platform on Solana, is set to introduce a scaling solution, liquid staking program, and its native token XAND on September 20, 2024. The unveiling will take place at the Solana Breakpoint 2024 conference in Singapore, as per a press release received by crypto.news.
Enhancing Solana’s Storage Model
As a leading player in the Solana ecosystem, Xandeum aims to enhance Solana’s storage model by providing decentralized applications access to virtually unlimited storage. This is achieved through the integration of their technology into Solana’s remote procedure call nodes, expanding decentralization through a network of storage provider nodes known as pNodes. Moreover, a dynamic fee market ensures the incentivization of pNodes, validators, and liquid stakers, who earn rewards in SOL, thus bolstering Solana’s ecosystem.
Xandeum’s Token Launch and Development Roadmap
The launch of Xandeum’s liquid staking platform on October 29, 2024, offers SOL stakers the opportunity to earn from future Xandeum storage fees via the xandSOL token. Simultaneously, the launch of the XAND token is scheduled for the same date. Xandeum Labs, the startup behind Xandeum, plans to introduce its pNodes network in early 2025 following securing $2.8 million for the development of its scaling solution. Despite facing challenges, Solana’s expansive ecosystem continues to drive innovation in the decentralized finance sector and beyond.
