This article was first published on Genesis Vision Blog - Medium
After successfully launching the Genesis Vision Gateway on the Binance Smart Chain, we are ready for the next pillar of our DeFi infrastructure. We are pleased to reveal our next step into the world of DeFi, on the xDai chain!
Firstly, let’s dive into the xDai blockchain itself, and look at its main advantages.
xDai Native Stable Coin
A stable coin does not only mean peace of mind, but also allows buyers and sellers to exchange value without the risks of volatility. In the xDai Stable Chain implementation, transactions are conducted using XDAI, a stable coin with 1:1 value ratio to DAI. Because transactions occur on a bridged sidechain, they are extremely fast and inexpensive. In addition, transactions and fees are paid with a single coin.
STAKE Multi-Chain Staking & GovernanceToken
The STAKE token on xDai is used by validators and delegators to secure the xDai chain. Users may participate in chain consensus, either as validators running xDai nodes, or delegators placing stake on those nodes. Participants place STAKE to secure the chain, and receive rewards in both STAKE and xDai (for validators.
STAKE also serves in a governance capacity. Community members can create and vote on proposals to change or update the protocol. These changes are then taken into consideration by the xDai validators and team.
Additional side chains will also have the opportunity to use STAKE to secure their chains, making this the first multi-chain enabled staking token.
A Neutral Network
The xDai chain provides a vital public utility for users — the ability to transfer stable value free of speculative concerns, volatility, or FUD (fear, uncertainty & doubt). xDai is an independent network, built to support transactions that hold value. When DAI is bridged to xDai, it moves to a platform with a clear, transparent purpose; secure & stable transactions on ...
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Genesis Vision Blog - Medium