{"data":{"id":5601,"name":"STAKE","symbol":"STAKE","slug":"xdai","category":"token","description":"## What Is xDai (STAKE)?\n\nxDai is a cryptocurrency that is pegged to the US dollar. The xDai chain is a stable payment blockchain that is designed for fast and inexpensive transactions. STAKE is secured by [proof-of-stake](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) consensus. xDai was founded on Oct. 1, 2018.\n\nSTAKE is a multi-chain staking token that is designed to secure the payment layer. Staking allows validators and delegators to provide transaction consensus and receive staking incentives for block production. It is only required for consensus providers, not everyday on-chain transactions.\n\nxDai was created by the POA Network, an open-source public side-chain of Ethereum founded in April 2017. It offers a framework for smart contracts which provides developers with an easy and effective way to code on Ethereum, while also leveraging the POA Network capabilities.\n\n\n### Who Are the Founders of xDai? \n\nThe founder of xDai (STAKE) is Igor Barinov. He is also the founder of the POA Network, an R&D company whose mission is to ensure that the Ethereum protocol is cheap, fast, secure and scalable. Barinov has developed several projects in the past, such as BlockScout and TokenBridge.\n\nIgor Barinov is also a co-founder of Block Notary, Forcera OU and is a blockchain consultant at Acronis.\n\n\n#### What Makes xDai Unique? \n\nxDai is a derivative of the DAI cryptocurrency, which is a stablecoin whose price is pegged to the US Dollar. The cost to perform a transaction with xDAI is $0.000021 USD. Such a transaction takes up to five seconds. \n\nxDai can be received or sent to another user through the usage of the Dex Wallet mobile application, or the Poketto xDai mobile wallet.\n\n\n#### Related Pages:\n\nLearn more about UNION Protocol [Governance Token](https://coinmarketcap.com/currencies/union-protocol-governance-token/).\n\nLearn more about [API3](https://coinmarketcap.com/currencies/api3/).\n\nLearn about crypto faucets on [CMC Alexandria](https://coinmarketcap.com/alexandria/article/what-is-a-crypto-faucet).\n\nLearn more about crypto news, updates and announcements on the [CoinMarketCap blog](https://coinmarketcap.com/alexandria/categories/blog).\n\n\n#### How Many xDai (STAKE) Coins Are There in Circulation? \n\nThe xDai chain uses the [ERC20](https://coinmarketcap.com/currencies/erc20/)-to-native TokenBridge functionality to provide stable, fast and inexpensive transactions.\n\nxDai’s (STAKE) circulating supply is at 4,058,408 STAKE as of February 2021, with a maximum supply of 8,537,500 STAKE.\n\n\n### How Is the xDai Network Secured?\n\nxDai provides virtual public utility for users. The xDai token is used to secure the xDai chain by validators and delegators. Users can participate in chain consensus and stake their xDai to secure the chain and receive rewards. \n\nTwo bridges connect the xDai Stable Chain to the Ethereum mainnet that supports seamless two-way asset transfer between the chains. The tokens are acquired on the mainnet and then bridged to the xDai sidechain through the usage of the DAI-xDai bridge for transaction tokens; the OmniBridge is used for cross-chain transfers. \n\nIt is important to note that xDai runs on the public POSDAO consensus and delegated proof-of-stake and anyone with enough STAKE to run a node can become a validator. Delegators help determine the validator bet by placing STAKE on candidates that they want to see become validators.\n\n\n### Where Can You Buy xDai (STAKE)?\n\nIf you want to purchase, sell or trade xDai (STAKE), you can do so at the following exchanges:\n\n\n\n*   [HBTC](https://coinmarketcap.com/exchanges/hbtc/)\n*   [Hoo](https://coinmarketcap.com/exchanges/hoo/)\n*   [Uniswap (V2)](https://coinmarketcap.com/exchanges/uniswap-v2/)\n*   [Gate.io](https://coinmarketcap.com/exchanges/gate-io/)\n*   [Bilaxy](https://coinmarketcap.com/exchanges/bilaxy/)\n\nIf you are interested in learning how to buy Bitcoin and are unfamiliar with the process, see our in-depth guide [here.](https://coinmarketcap.com/how-to-buy-bitcoin/)\n","dateAdded":"2020-05-19T00:00:00.000Z","actualTimeStart":"2020-05-19T01:00:00.000Z","status":"active","isBn":0,"subStatus":"normal","notice":"xDai Chain is being rebranded to Gnosis Chain. STAKE token holders can now swap STAKE for GNO on Ethereum Mainnet or Gnosis Chain. 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