xDai Gateway
After successfully launching the Genesis Vision Gateway on the Binance Smart Chain, we are ready for the next pillar of our DeFi infrastructure. We are pleased to reveal our next step into the world of DeFi, on the xDai chain!
Firstly, let’s dive into the xDai blockchain itself, and look at its main advantages.
xDai Native Stable Coin
A stable coin does not only mean peace of mind, but also allows buyers and sellers to exchange value without the risks of volatility. In the xDai Stable Chain implementation, transactions are conducted using XDAI, a stable coin with 1:1 value ratio to DAI. Because transactions occur on a bridged sidechain, they are extremely fast and inexpensive. In addition, transactions and fees are paid with a single coin.
STAKE Multi-Chain Staking & GovernanceToken
The STAKE token on xDai is used by validators and delegators to secure the xDai chain. Users may participate in chain consensus, either as validators running xDai nodes, or delegators placing stake on those nodes. Participants place STAKE to secure the chain, and receive rewards in both STAKE and xDai (for validators.
STAKE also serves in a governance capacity. Community members can create and vote on proposals to change or update the protocol. These changes are then taken into consideration by the xDai validators and team.
Additional side chains will also have the opportunity to use STAKE to secure their chains, making this the first multi-chain enabled staking token.
A Neutral Network
The xDai chain provides a vital public utility for users — the ability to transfer stable value free of speculative concerns, volatility, or FUD (fear, uncertainty & doubt). xDai is an independent network, built to support transactions that hold value. When DAI is bridged to xDai, it moves to a platform with a clear, transparent purpose; secure & stable transactions on a fast, neutral network.
Open governance, open access, and token stability create a trusted environment for users as well as applications built on top of xDai.
Scalability
xDai supports low cost, stable transactions for projects and users. high Ethereum gas prices and congestion have made it difficult for the ecosystem to function efficiently. xDai provides a compatible chain for projects requiring nano-transactions or complex transactions that may be prohibitively expensive on Ethereum. xDai can scale both vertically (infrastructure and chain parameter optimization) and horizontally (additional chain deployments) to meet capacity requirements.
Bridges to Ethereum
Two bridges connect the xDai Stable Chain to the Ethereum mainnet, supporting seamless two-way asset transfer between chains. Tokens are acquired on the mainnet, then bridged to the xDai Stable Chain sidechain using either the Dai-xDai bridge for transactional tokens, or the OmniBridge for any cross-chain transfers. Once a user is finished transacting or staking, tokens can be bridged back to the mainnet with ease.
L2 Chain Bridges
Additional bridges exist to move tokens between xDai and other L2 sidechains, including moving assets between Binance Smart Chain and Polygon (using a Connext state channel bridge).
It’s always one of our favourite moments, when we reveal our newest updates! We are pleased to announce the successful deployment of our new Gateway on the xDai chain! Invest in centralized assets by interacting with a smart contract using your very own MetaMask Wallet!
How to connect the xDai Chain
If you are using MetaMask, connecting to the xDai chain is simple!
To do this, you just need to add a Custom RPC.
And fill in the fields as follows:
Network Name
xDai
New RPC URL
https://rpc.xdaichain.com/
Chain ID
0x64
Currency Symbol
xDai
Block Explorer URL
https://blockscout.com/xdai/mainnet
Once connected, you will be able to see the balance of your xDai wallet.
Investment
Funds and Programs now have an ‘Invest via xDai’ button.
This will now allow you to invest in Genesis Vision Programs and Funds directly from your xDai Wallet!
After entering your investment amount and confirming the transaction in Metamask, the smart contract will be processed by the Gateway. From there your funds will go straight to the balance of your desired Fund or Program.
DAI Wallet
DAI is now also available in the wallet. Deposits and withdrawals will be available soon.
Updated roadmap schedule
Due to observations, market conditions, development and time required for testing, we have decided to revise our release schedule:
̶1̶4̶t̶h̶ ̶o̶f̶ ̶A̶p̶r̶i̶l̶ ̶-̶ ̶G̶e̶n̶e̶s̶i̶s̶ ̶V̶i̶s̶i̶o̶n̶ ̶G̶a̶t̶e̶w̶a̶y̶ ̶l̶a̶u̶n̶c̶h̶ ̶o̶n̶ ̶t̶h̶e̶ ̶B̶i̶n̶a̶n̶c̶e̶ ̶S̶m̶a̶r̶t̶ ̶C̶h̶a̶i̶n̶.̶
̶1̶9̶t̶h̶ ̶o̶f̶ ̶A̶p̶r̶i̶l̶ ̶ — ̶ ̶G̶e̶n̶e̶s̶i̶s̶ ̶V̶i̶s̶i̶o̶n̶ ̶G̶a̶t̶e̶w̶a̶y̶ ̶l̶a̶u̶n̶c̶h̶ ̶o̶n̶ ̶t̶h̶e̶ ̶X̶D̶A̶I̶
10th of May — Genesis Vision Protocol: The launch of Programs with GV Liquidity on Ethereum
13th of May— Genesis Vision Protocol: The launch of Funds with GV Liquidity on Ethereum
20th of May — Genesis Vision Protocol: The launch of Programs with GV Liquidity on BSC (Binance Smart Chain)
21st of May — Genesis Vision Protocol: The launch of Funds with GV Liquidity on BSC (Binance Smart Chain)
25th of May — Launch of the first 10 GV funds and 10 programs from top GV managers in the Genesis Vision Protocol
9th of June — First Trading Competition on Genesis Vision Protocol with a prize fund of $25,000
Genesis Vision is looking forward to complete exposure to DeFi. We are obsessed with the idea of a truly decentralized social trading platform. Keep an eye out for future news, as we have a lot of great stuff coming soon. This is just the beginning!
Thank you for all the continued support!
