Layer 1 public chain Xion officially launches its mainnet

ChainCatcher news, according to The Block, the Layer 1 public chain Xion, focused on chain abstraction, has officially launched its mainnet and introduced an innovative "Double or Nothing" token airdrop mechanism. The project completed a $25 million Series A funding round in April this year and previously received $11 million in investments from institutions such as Circle Ventures, Animoca Brands, and Multicoin.

Xion is developed based on the Cosmos SDK, pioneering the use of USDC as the primary trading currency, with plans to issue a total of 200 million XION tokens, and the first round of airdrop will allocate 10 million tokens.