Xion Team Launches Mainnet and Introduces Gamified Airdrop
Date: 2024-12-06 Author: Henry Casey Categories: BUSINESS, AIRDROPS
The Double or Nothing mechanism is included in the Believe in Something launch campaign, where users who actively interacted with the testnet and partner communities were eligible to participate. The developers allocated 5% of the total number of XION tokens for the first stage of the airdrop - 10 million out of 200 million. At the pre-trade stage, the value of this volume is estimated at more than $ 50 million.
Of the allocated tokens, 69% were sent to the community, and the rest were distributed among active participants of the Berachain, Injective, Pyth, Monad, Milady, Brett and SPX6900 projects. These platforms have provided significant support to the Xion ecosystem.
Token distribution for the airdrop:
23% — ecosystem development;
15% — protocol and Xion Foundation;
15% — community and launch;
27% — strategic partners;
20% — core team.
Xion is built on the Comet BFT consensus platform and the Cosmos SDK, which is also used in the Injective, Osmosis, and dYdX Chain projects. The network integrates USDC as the primary currency for payments, and the XION token is used for transaction fees, network governance, and security within the PoS model.
A special feature of Xion is the use of “generalized abstraction” — a technology that simplifies interaction with Web3. Instead of traditional accounts and signatures, users can interact with the network through standard Web 2.0 tools such as email and Passkey.
Key areas of application for the platform include payments, social networks, games, and web subscriptions.
In April, Xion raised $25 million in funding from Animoca Brands and other venture capital firms. Before the mainnet launch, the project went through a testing phase that began in December 2023.
