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Grayscale’s Chainlink Trust Surges 65% as Major Partnerships Boost LINK

Grayscale’s Chainlink Trust ($GLNK) has soared by an impressive 65% over the past five days, driven by a sharp rise in the price of Chainlink’s LIN... coinpedia

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Xandeum wraps up Solana staking program with 205M XAND distributed in rewards

Xandeum has wrapped its six-week liquid staking program with a bunch of solid benchmarks. Distributing 205 million XAND tokens in rewards, the program saw more than 68% of available XAND staked by users, who were able to earn a 16% APY. Xandeum’s liquid staking program was able to achieve this level of APY through a quadruple rewards system that includes staking rewards, MEV rewards, block rewards, and XAND incentives. By distributing these rewards equitably, Xandeum has shown that there’s scope for liquid staking to grow on Solana and become a mainstay of its decentralized finance economy. What Xandeum does differently By sharing MEV and block rewards with its stakers, Xandeum’s staking model goes beyond traditional reward mechanisms to include features designed to maximize both user value and network resilience. Indeed, this approach has attracted over $7 million worth of SOL to its staking pool. Participants in the program also benefited from transparent governance, with all pool fees directed to the Xandeum DAO treasury, where XAND token holders have decision-making power. By making staking more accessible and rewarding, protocols like Xandeum are playing their part in strengthening the Solana network. The growth of LSTs also deepens liquidity and creates new opportunities across DeFi protocols, allowing for yield to be stacked. From staking to storage Xandeum isn’t stopping with staking. The protocol is preparing to launch its scalable storage layer in early 2025, a development poised to enhance how Solana handles data-intensive applications. Designed to integrate with Solana RPC nodes, Xandeum’s storage layer will enable decentralized storage for exabytes of data. This innovation addresses a critical challenge in blockchain infra: the storage trilemma. By offering a solution that is scalable, cost-effective, and smart contract-native, Xandeum’s storage layer will unlock new use cases for Solana dapps. This will include porting data-rich web2 applications into a decentralized web3 environment and supporting advanced functionalities like machine learning and data analytics onchain. The storage layer also introduces new revenue streams for stakers. Applications using Xandeum’s storage solution will pay fees, a portion of which will be distributed to stakers. Liquid staking as a catalyst for Solana growth Xandeum’s achievements in liquid staking are part of a broader trend within Solana’s growing LST ecosystem. Liquid staking enables greater participation in staking by eliminating the traditional trade-off between earning rewards and maintaining liquidity. For Solana, prized for its speed and efficiency, liquid staking adds another layer of utility, enhancing both user participation and network decentralization. The next step for Solana developers working within this sector is the creation of dapps and protocols that make better use of LSTs. From collateralizing stablecoins to providing liquidity for onchain perps, prediction markets, and DEXes, the possibilities are endless. The post Xandeum wraps up Solana staking program with 205M XAND distributed in rewards appeared first on Finbold . coinpedia