|CHI token||decentralized finance||Ethereum blockchain||Xaya blockchain||Xaya Tech|
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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Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a content manager and creator at heart, working on Play to Earn and for a variety of third party magazines and websites.