XION has introduced XION Foundation and utility token XION
XION has unveiled the XION Foundation, a non-profit organization dedicated to guiding the XION ecosystem and upholding its core values. Meanwhile, XION introduced $XION, the utility token powering the XION Proof-of-Stake (PoS) network that establishes a solid foundation for a flourishing, self-sustaining ecosystem. The details on token distribution and release date will be announced soon.
XION Foundation supports teams building secure, open-source, and decentralized applications within the ecosystem, and its primary aim is to ensure that Web3 is universally accessible through XION.
XION, built by Burnt, is an L1 chain that is purpose-built for consumer adoption. Burnt has raised $36M in three funding rounds (last at a $500M valuation) backed by Multicoin Capital, Animoca Brands, Morningstar Ventures, Sfermion, HashKey Capital, Arrington Capital, Circle Ventures, GoldenTree and others.
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