About xDAI Stake Coin
xDAI Stake price today is $17.37 with a 24-hour trading volume of $4,936,974. STAKE price is up 20.5% in the last 24 hours. It has a circulating supply of 3.9 Million STAKE coins and a max supply of 8.57 Million. Uniswap (v2) is the current most active market trading it.
What is xDai STAKE?
xDai Chain is a blockchain that is aimed to be speedy and inexpensive, with a native stable currency. As Ethereum price fluctuates from time to time, it makes gas fees and transactions on the Etheruem chain unstable and users will have to take in the exchange rate risks. The native stable currency is xDai which is used to pay for transactions, fees, and smart contract executions. STAKE is the token that is used for Proof-of-Stake giving the blockchain a speedy consensus mechanism.
What is xDai?
As xDai is a native stable currency. 1 xDai is worth roughly around $1. Fees and transaction costs are paid in xDai which is easy to reason as compared to paying gas in ETH on Ethereum.
Who is using xDai today?
Honey, a Uniswap equivalent port on xDai is facilitating swaps at lower transaction costs. Tokens are re-issued on the xDai chain allowing high speed swaps. Other than that, another NFT related project called Proof of Attendance Protocol (POAP) is using xDai. They primarily use it to keep NFT minting and transaction costs low before bringing them to the main Etheruem chain. You can find more projects integrating it on the list of projects.