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Phil Hall
Phil Hall
Mar 20, 2021
News

Xaya Bridges Native Token to Ethereum

Xaya is bringing its native cryptocurrency CHI into the Ethereum DeFi ecosystem. Next month wCHI will be available on Uniswap.
Xaya Bridges Native Token to Ethereum

Xaya is bringing its native cryptocurrency CHI into the Ethereum DeFi ecosystem. Gamers earning CHI through gameplay, will be able to move their CHI earnings as Wrapped CHI to the Ethereum blockchain. Those are the latest developments shared by the blockchain company in a newsletter.

Xaya has completed the development of their blockchain ecosystem, and everything is set in place for products to start using the player-governed blockchain. Building a bridge between their Xaya blockchain and Ethereum is the next big step. This bridge will allow CHI to exist on Ethereum, but also on sidechains.

They will launch Wrapped CHI (wCHI) next month. The smart contract have been written and security audits will be done soon. The swap from CHI to wCHI will be one on one, and will be done by Autonomous World Ltd. The wCHI token will launch on Uniswap with an ETH-pairing.

CHI is the native currency for the Xaya blockchain, a user-powered blockchain network that hosts multiple games. Among those games are Soccer Manager Elite and Taurion.

What is decentralized gaming?

The text above is quite heavy focused on DeFi, but DeFi sure is important for gaming. Especially when we're talking about gaming project that have their own economy. Soccer Manager Elite and Taurion are games that have their entire economy and tactical gameplay moves stored on-chain. As a result the game is provably fair, and cheating is impossible. However, this also means that it's very important for game designers to launch their products in the right way.

Last year during a treasure hunt Xaya had to do a hard fork, which introduced new gameplay mechanics. Similar to how blockchain developers need to be on the same page, gamers and game designers also need agree on a hard fork. If they don't, two version of the game will exist, and only one has continued support from the developer.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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