Breaking: XYO World is Here
It’s a good time to be an XYO Token holder. If you’re not one of the lucky ones, now is a good time to become one.
August 25, 2020 — The long-awaited day is finally here. You can now stake your XYO Tokens on real places, bidding against other users live, in real time, and see your holdings in a global simulation of XYO stake.
Here’s where. And here’s how.
And the most exciting thing? We’re formally announcing that XY’s hit app, COIN, is integrating XYO World.
What is XYO World?
XYO World is a new kind of staking platform. XYO World allows anyone, anywhere, to stake locations. It’s an accessible, fun, and useful way to add weight and absolute location data to XYO Network.
In most blockchain staking paradigms, the user chooses to stake a network, or an element of the network, such as a node, as a vote of confidence within a decentralized system. In return, the user’s stake accrues rewards as the network or node is utilized.
XYO used this paradigm in our first staking system, and XYO devotees took part enthusiastically. But staking in this sense is abstract — how do you foster mass adoption among casual users?
For XYO, the answer is clear. XYO Network exists to provide Proof of Location, and some locations should demonstrate more activity than others. By allowing users to stake these locations, predicting the volume of activity in those places, XYO World creates meaningful network consensus.
How does it work?
If you’d like to read a full walk-through of how to use XYO World, you’ll find one here.
In a nutshell, XYO World automatically divides the real world into quadtiles, beginning with four global quadrants, which are then subdivided into four more quadtiles, and so on. Each quadtile is sold at auction in the form of a geotoken — a unique, non-fungible token (ERC-721) that can be purchased with XYO Tokens (ERC-20) at auction.
The users whose parent quadtiles are subdivided are paid when the child geotokens are sold, and the stake in the area represented by the quadtile is also divided.
This stake is then available to any application built using the XYO World platform. Which brings us to the first killer use case for XYO World.
COIN + XYO World
XYO World is a natural fit for XY’s hit geomining app, COIN. The fastest-growing product in XY’s eight-year history, COIN is the most popular software ever created by the company that brought you XYO.
If you’re a COIN player, then XYO World is about to become part of your world. Just what is XYO World going to do for you?
Don’t wait until we release more details to find out. You can join in with XYO World today.
