TechFlow news, on August 14, Layer1 project XION and its foundation announced the launch of their official token $XION, confirming it as the governance token for the XION Proof-of-Stake (PoS) network. The XION Foundation will continue to support the community with various initiatives including airdrop programs and developer grants.
XION is the first Layer 1 blockchain built specifically for consumer adoption through chain abstraction, created by the renowned Burnt Banksy. To date, the XION project has raised over $36 million from top investors including Multicoin, Circle, Animoca, Hashkey, and Spartan.
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