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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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20949704 No.20949704 [Reply] [Original]

Since I have finished accumulating, I am going to spell it out for /biz/. For the past few weeks I've been silent on xDai (STAKE). It is now time to start spoonfeeding my favorite group of autistic white male NEETs and my least favorite shitcoin shilling pajeets the next 50x.

What is it? xDai is a layer 2 scaling solution. You can easily use their token bridge to move assets from Ethereum mainnet to the xDai chain. On the xDai chain, block times are ~5 seconds, and all tx fees are paid essentially in Dai. STAKE is the governance token.

xDai has several high profile validators helping run the network, such as MakerDao and Anyblock (Anyblock who is a part of the EEA's task force Eminent, along with Unibright and LINK).

The project has actually been being developed for several years and has been used at several events to make payments. It has been praised by people such as Joseph Lubin as seen here (watch at time stamp for a few minutes):

https://youtu.be/mHm7MECKLQU?t=2929

You can also find prominent people in the crypto space like Anthony Pompliano saying good things about it.

Also, probably the biggest breadcrumb that most of the Chico Crypto brainlets missed cause they don't actually understand crypto and they just buy the coin in his titles:

https://youtu.be/KHeKo_7JYMk?t=182

In the video, Chico mentions the "Ethereum Bridgechain", and then goes on to say he "wants to show everyone an opportunity hiding in plain sight". Guess what crypto he mentions? xDai Stake. Chico frequently mentions a project in passing or along side of the main subject in a video before he makes a full length video on it. Wouldn't surprise me if we get an xDai (STAKE) video in the next week. /biz/ likely won't listen though and will be buying the top of the next Chico Crypto pump.

>> No.20949711

Oh, and the best part about STAKE is that it has a lower mcap than fucking TENDIES. $7 million dollar mcap for a serious project talked about by nearly every relevant person in the space. Don't say you weren't warned.

>> No.20949747

>xDaiiiilmao

>> No.20949758
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20949758

>buy my shitcoin bags
no

>> No.20949788

>>20949758
>Pink ID
ngmi, I tried.

>> No.20949968

>>20949704
Shhhhh. No need to shill this one.

>> No.20950946

>>20949968
You had plenty of time to buy in, and it most likely won't go any lower. We are going up ready or not.

>> No.20951862

>>20949704
yeah we know. already made an easy 4x that first week. the reason we dumped it was because the token legit is not needed. xDai has been usable for years....long before they attached a meme token to it. STAKE was a low effort money grab.

>> No.20952919

>>20951862
You stake it to secure the xdai network. If STAKE token is not needed so is every other token used in staking. xDai's token allows it to go beyond pure PoA and become decentralized. Wouldn't be surprised if it gets used in Polkadots eco system as well, as Chico Crypto mentioned an ETH bridge was needed. Gavin Wood even talked about xDai and the only thing he didn't like was that it was pure PoA... STAKE allows others to hold a token and become a validator to provide decentralization. This allows STAKE to fill that position. This is way more than a 4x lol.

>> No.20953478

>>20949704
How big your bags?

>> No.20954287

>>20953478
1k stakies. Probably one of the easiest and most obvious moon missions. They are already being lauded by companies like Splunk, which has 30 billion mcap.

>> No.20954334

>>20949704
Been in STAKE since its BitMax listing

>> No.20954605
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20954605

>>20949704
>What is it? xDai is a layer 2 scaling solution. You can easily use their token bridge to move assets from Ethereum mainnet to the xDai chain.
I understand some of these words.

>> No.20954835

>>20949704
make it and suicide stack me, anon
if it's less than 2 grand i'll jump in

>> No.20955004

>>20949704
also is this anything like OMG?
i thought they had some sort of side-chain scaling solution as well
and does stake fit into defi?

>> No.20955684

>>20955004
Somewhat like omg. Omg is also a layer 2 scaling solution. It is a bit different though, but they both kind of work towards a similar goal (getting the number of TX down on eth to free up the network).

https://coinmarketcap.com/defi/
And yeah it does fit into defi. One of the lowest mcap projects on coinmarketcap defi list. One of the defi angles is it can be used to build decentralized exchanges for tokens. So if you are tired of paying high TX fees for uniswap, you could move your tokens to xDai chain and swap them there, which has way faster blocktimes and cheaper TX. So on Uniswap you are paying like 3 dollars a TX, on the xdai uniswap v1 fork you are paying way less. Once you are done swapping shitcoins and just want to hold you take the Ethereum bridge back to main net and just hold them there.

>> No.20955729

>>20949704
Fucking scammers my 130 eth is now 65 eth. That is the real power behind xdai blockchain it melts your eth by 50%.
Now i see you posting this i know it has another 50% to go yet.
FUCK!!!!+

>> No.20955864

>>20955684
thank you for the insights
biz can be a fucking goldmine for good projects
but what does the STAKE token do to add value, since the transactions are in dai?
also, suicide stack size?

>> No.20956278

>>20955864
Suicide stack size is about 500 I'd say. If this thing actually wins the reddit scaling competition it is going to moon hard as fuck. Reddit has more users than Eth does, hence why they need some layer 2 solutions.

As for the value of STAKE, all day deposited into the xDai bridge will earn interest as it sits there. All of that interest will be paid out to stakers in addition to earning stake tokens.

>> No.20956384

>>20956278
ohhhhh i like me some staking
sorry for all the questions but this sounds interesting
are staking payouts in dai or in stake?

>> No.20956394

>>20956278
They are not going to win. And no one wants stake its going back to 1.50 so basicly buy now to lose half your cash while eth and the rest of the market trends up.

>> No.20956417

>>20956278
god looking at it that's a small suicide stack

>> No.20956516

>>20956394
I too wish to fud to buy lower, believe me, but the price is going to be up and down as long as it's relegated to bad exchanges. So there's no need for this because nobody actually cares about a reddit competition. xdai is going to do way better things than win forum awards.

>> No.20956652

xDAI STAKE token bridge is only open for xDAI. The entire project is just a rebrand of POA, including the bridge. Pass

>> No.20956703
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20956703

>>20949704
>>20949711
>>20949747
>>20949758
>>20949788
>>20949968
>>20950946
>>20951862
>>20952919
>>20953478
>>20954287
>>20954334
>>20954605
>>20954835
>>20955004
>>20955684
>>20955729
>>20955864
>>20956278
>>20956384
>>20956394
>>20956417
>>20956516
>>20956652

>> No.20956725

I saw the praise from Splunk the other day and decided to buy. It won't stay a 6 million dollar mcap project long with 30 billion dollar companies tweeting praise at it and working with them.