Chorus One announces staking support for XPLA

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November 24, 2022
5 min read
November 24, 2022
5 min read

Why we join XPLA

We are excited to announce that we have onboarded XPLA network as validators. XPLA (“Explore and Play”) is a proof-of-stake, Cosmos-based, gaming-specific L1 developed by Metamagnet in collaboration with its primary partner, the Com2uS Group, one of Korea’s leading public gaming companies. C2X, a blockchain gaming platform, was also created by Metamagnet. While C2X will remain as a gaming platform, XPLA intends to be a gaming mainnet that serves as a center for any third-party studio to make games and create media content. Game developers can quickly transition their Web2 creations to Web3 using the XPLA SDK.

With the advent of the Blockchain industry, applications that use NFTs have taken over the planet, some of which are money grabs and, in the worst instances, frauds. Because of these uses, the NFT market may pose significant dangers to both users and investors. The XPLA chain was created to address these issues and to establish the benchmark for the long-term, sustainable development of blockchain applications. XPLA chain is designed to be a platform that may embrace the blockchain media content ecosystem, with a focus on gaming, content, and entertainment that will continue to progress in the future.

Tendermint serves as the basis for XPLA, also powered by the Cosmos SDK and a PoS algorithm. The XPLA chain is designed to support not just the Cosmos ecosystem but also the Ethereum Virtual Machine (EVM), which will boost XPLA chain ecosystem usage by enabling Ethereum-based blockchain and dApps. Validators like Chorus One operate full nodes, contribute to consensus via vote broadcasting, validate new blocks on the blockchain, and participate in blockchain governance. Validators may vote on behalf of delegators, and their voting power is weighted according to the total amount staked. The validators and delegators will earn a portion of the transaction fee as compensation for new block verification and will participate in the mainnet operation with the shared objective of developing the ecosystem by managing the mainnet node. The top 130 validators enter the active set.

About staking on Teritori Network

Block Explorer

Chorus One node

Validating Rights: The weight of validators is determined by the amount of staking tokens bonded as collateral.

Token distribution: The maximum supply is $2Bn XPLA tokens. Refer to the whitepaper for a detailed overview of the tokenomics.

Inflation rate: 0%

Slashing: Pledged tokens can be slashed.

Chorus One Commission: 7.5%

Re-Staking: You need to withdraw rewards and re-stake them with some frequency if you want to make use of compounding returns hence additional delegation is needed for compounding.

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