Solana's Xandeum Launches Token, XAND Airdrop Kicks Off

According to the official statement by its team, Xandeum, a Solana-centric data storage solution, releases XAND token, a core governance and utility asset.

Solana-based distributed storage solution Xandeum has shared full details of its upcoming token launch and liquid staking program. Today, Oct. 29, the XAND token officially goes live, giving the Xandeum community a way to support the network and earn rewards.

Solana's Xandeum launches token, XAND airdrop begins

A statement from the team now reveals that Xandeum, a Solana-centric data storage solution, is launching the XAND token, a core governance and utility asset. The airdrop of XAND begins today, Oct. 29 at 4:00 p.m. (UTC), which will be followed by a liquid staking solution.

A total of 60 million XAND tokens will be airdropped to the community. Several major CEXes and DEXes have already confirmed that they will be listing XAND for trading, including the likes of MEXC Global and Raydium.

The Xandeum DAO governs both the scalable storage layer that Xandeum is building and the storage-enabled liquid staking solution that is launching Oct. 29. The DAO encapsulates both of these, which is a unique feature among such platforms. The XAND token provides full governance over this DAO, making XAND one of the most utility-rich tokens on Solana.

Xandeum's upcoming storage solution will enable Solana's (SOL) smart contracts to scale by allowing dApps to access exabytes of data. This will enable new use cases, such as porting data-rich Web2 apps to fully decentralized Web3 versions.

Xandeum is attempting to solve the blockchain storage trilemma by being scalable, random-access and smart contract native at the same time.

LST mechanism goes live with rewards for SOL stakers

Wikipedia's fully decentralized clone on Xandeum, Xandipedia, will showcase the possibilities of Solana's new scaling product.

As the SOL liquid staking program for the Xandeum community begins, early stakers will be rewarded with a 10x boost in XAND rewards.

The team highlights that the enhanced rewards are only available during the Hyperdrive Stage, which is defined as the stage when the pool has less than 30,000 SOL staked.

Xandeum's product is touted as the first multi-validator LST on Solana that programmatically shares block rewards.

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