XYO has introduced XYO Layer 1, a blockchain tailored for high-volume, real-time data applications, featuring a dual-token model with XYO for governance and XL1 for network utility.
Summary
- XYO Layer 1 is a new blockchain crafted to manage large-scale, real-time data for AI, logistics, cloud services, and tokenized assets, addressing inefficiencies in current networks.
- The launch unveils a dual-token framework, with the new XL1 token facilitating network utility alongside the original XYO token, which continues to play a role in governance and the ecosystem’s long-term sustainability.
XYO, recognized as the first and one of the largest DePIN projects with over 10 million nodes globally, has launched XYO Layer 1.
This blockchain is engineered to support sectors dependent on extensive, real-time data, such as AI, logistics, cloud services, and tokenized RWAs, providing accurate, verifiable data at scale for developers, businesses, and everyday users. AI companies, for example, can leverage XYO Layer 1 to gain access to continuous streams of validated data for model training, while logistics firms can monitor shipments in real time with confirmed location and environmental data, enhancing efficiency and decision-making.
According to a press release shared with crypto.news, XYO opted to launch its own blockchain after over 7 years in the industry, as existing networks failed to meet the requirements of high-efficiency, data-centric applications.
“Having developed on blockchain for years, I’ve seen firsthand where current systems fall short. The community is ready for a system that can handle both high volumes of data and maintain true decentralization,” stated Arie Trouw, XYO Co-Founder and CEO.
XL1 launches as XYO layer 1’s native token
In conjunction with the Layer 1 launch, XYO has rolled out a dual-token system to supplement its original XYO token, launched in 2018, which serves as the primary token for DePIN rewards, governance, payment, security, and staking functions.
The new XL1 token functions as the native token of XYO Layer 1, facilitating essential network operations such as gas fee payments, transaction processing, blockchain activities, priority fees, and rewards for node operators.
XL1 is obtained by staking XYO, which locks the original token within the XYO Layer 1 ecosystem. This staking and rewards system is expected to retain a significant portion of XYO’s circulating supply locked long-term, ensuring ongoing network security, stability, and alignment of incentives for participants in the ecosystem.
XYO will first transition its own products to the new Layer One, followed by significant partners.
