Xandeum to unveil Solana scaling solution, XAND token

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

According to a press release shared with Crypto.news, Xandeum will launch these features and its XAND token at the Solana (SOL) Breakpoint 2024 conference in Singapore.

Scaling Solana’s storage model

Some of the biggest announcements in the Solana ecosystem came during the Breakpoint conference, including the Firedance testnet in 2023. The community expects more at Breakpoint 2024 Singapore.

Xandeum says its storage layer will scale Solana’s existing storage model, and that the technology is designed to help decentralized applications access “nearly unlimited storage.”

According to details shared with Crypto.news, the platform’s technology integrates directly with Solana’s remote procedure call nodes, further expanding decentralization through a network of storage provider nodes, or pNodes.

At the core of this is a dynamic fee market that ensures pNodes, validators, and liquid stakeholders continue to be incentivized to support an efficient and decentralized storage network. These key players earn rewards in SOL, which could be a new revenue stream and significantly boost Solana’s ecosystem.

XAND token launch date

Xandeum will launch its liquid staking platform on October 29, 2024, offering SOL participants the opportunity to earn future Xandeum storage fees through its liquid staking token xandSOL. Meanwhile, the XAND token will be launched on October 29.

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

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