The official toconomies for Xyo Layer One (XL1) have been released and show a great step forward as the network prepares for its mainnet debut in the third quarter.
Locking XYO into the upcoming Layer 1 blockchain will generate XL1 rewards and encourage early participation. A significant portion of the total XYO supply is expected to be piled down, effectively removing it from active circulation and strengthening its long-term commitment to the ecosystem.
XL1 acts as a native utility token for the Xyo Layer 1 chain. It acts as a gas for smart contract execution, transactions, and rewards L1 nodes that maintain and protect the network. Continuous network activity triggers consecutive XL1 token burns, contributing to a sustainable token economy.
At the heart of the broader Xyo ecosystem remains the Xyo tokens that promote the contributor economy by rewarding depin nodes that collect and validate data. It also plays an important role in governance and serves as a gateway for participation in a broader ecosystem.
The complete technical documentation is now available on the official Xyo Layer One GitBook. We provide details on ecosystem mechanics and how to wager XYO to begin earning XL1 rewards upon activation of the mainnet.
Staking is opened at the launch of the mainnet, offering early participation where XL1 emissions increase before the system reaches long-term equilibrium. Participants are encouraged to prepare, maintain and prepare to lock XYO to earn future protocol rewards.
More updates will continue for lead-up to the mainnet. stay tuned.
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Xyo’s Post announced one toconomies ahead of the launch of the Q3 Q3 Mainnet.
