The Xseed native token is primarily associated with the Radix Public Network, a decentralized network that aims to provide a scalable and secure infrastructure for various applications and ecosystems. Xseed tokens hold utility within the Radix ecosystem and the MetaXSeed Games platform.
Overview
The XSEED native token, also known as $XSEED, is a digital token associated with the Radix Public Network. It was established in 2021 and serves various purposes within the Radix ecosystem. Holding $XSEED ong-term allows users to earn staking rewards in the form of Radix tokens ($XRD), contributing to the network's security and decentralization. $XSEED has also been utilized as an ecosystem currency, streamlining transactions and fostering a seamless, decentralized economy.
Additionally, the $XSEED token has been distributed to delegators of the Radix network, providing them with an opportunity to participate in the long-term economic success of the network.
Mission
The mission of $XSEED within the context of the Radix ecosystem, is to promote the "RadixDLT Staking" Validator Node and other projects in the Radix ecosystem1. By holding XSEED tokens, participants can contribute to the long-term economic success of the node and the overall network. The XSEED token distribution among delegators allows them to share in the rewards and benefits of participating in the Radix network. Additionally, the XSEED token serves as a medium of exchange within a gaming NFT marketplace, facilitating transactions within the marketplace.
Token Economics
All 10 million $XSEED tokens will be transferred to a trust and distributed in accordance with the following timetable:
5,000,000 (50%) Staking Reward: For each new stake we receive when using our RadixDLT Staking Validator Node, you will receive XSE (1:20).
600,000 (6%) Long-term Staking Rewards - To further encourage long-term staking on our Node, XSE-token will be regularly given out to our long-term delegators.
700,000 (7%) Used to pay for marketing efforts.
500'000 (5%) Team and Development - Until the Xi'an Release is put into effect (2024) these tokens will be frozen.
3,200,000 (32%) Future Projects Reserved - Although the purpose of these tokens is not yet clear, they will be used to increase the value of the XSE token.
Benefits
Joining the Xseed native token ecosystem can offer several benefits :
Staking Rewards
By holding and staking $XSEED, you can earn staking rewards in the form of Radix tokens ($XRD). The more Xseed tokens you stake, the higher your potential rewards. This provides an opportunity for passive income generation within the Radix ecosystem.
Network Participation
By joining the Xseed native token ecosystem, you become an active participant in the Radix Public Network. This allows you to contribute to the network's security and decentralization by staking your $XSEED. Active participation helps strengthen the network and its capabilities.
Ecosystem Currency
$XSEED serve as an ecosystem currency within the MetaXSeed Games platform. By joining, you can utilize $XSEED for in-game purchases, transactions, and interactions within the decentralized economy of the platform. This fosters a more seamless and efficient gaming experience.
Utility within the Platform
Being a part of the $XSEED ecosystem may provide additional utility within the MetaXSeed Games platform. This could include exclusive in-game benefits, community governance rights, or participation in platform development decisions. These added benefits enhance the overall user experience and engagement.
Token Utility
$XSEED has various utility and use cases within the Radix ecosystem and the MetaXSeed Games platform. Here are some of the token utilities associated with $XSEED:
Staking
$XSEED can be staked on the Radix Public Network, allowing token holders to contribute to the network's security and decentralization. By staking $XSEED, users can earn staking rewards in the form of Radix tokens ($XRD).
Rewards
Holding $XSEED long-term enables users to earn staking rewards. The more $XSEED a user holds and stakes, the higher their potential rewards.
Ecosystem Currency
$XSEED serve as an ecosystem currency within the MetaXSeed Games platform. They streamline transactions within the decentralized economy of the platform. This allows for seamless and efficient in-game purchases and interactions.
Additional Value Propositions
$XSEED holders may get access to other value propositions within the MetaXSeed Games platform. These could include exclusive in-game benefits, community governance rights, or participation in platform development decisions.
Staking Process
To stake $XSEED on the Radix Public Network, here's a general process to follow:
Obtain $XSEED
You must first obtain $XSEED through a reputable exchange that supports its trading. Alternatively, you can receive Xseed tokens as a reward for participating in the Radix ecosystem or by delegating to a node that rewards $XSEED to their delegators.
Connect Wallet
Next, you must connect to a compatible wallet that supports $XSEED staking. The Radix wallets currently supporting $XSEED staking are the Radix Desktop Wallet and Ledger Nano S hardware wallet.
Stake $XSEED tokens
Once you have connected your wallet, you can delegate $XSEED to a validator node. This can be done through a staking dashboard in your wallet or through a validator's dedicated staking portal.
Wait for Rewards
Upon successful staking, you will begin to earn staking rewards in Radix tokens ($XRD). The rewards are proportional to the number of $XSEED you stake and can be claimed at regular intervals.