TechFlow news, December 5 — According to The Block, Xion, a Layer 1 blockchain focused on chain abstraction, has officially launched its mainnet and introduced an innovative "Double or Nothing" token airdrop mechanism. The project previously raised $25 million in a Series A round in April and had earlier secured $11 million in investments from firms including Circle Ventures, Animoca Brands, and Multicoin.
Built on the Cosmos SDK, Xion pioneers the use of USDC as its primary transaction currency. The network plans to issue a total of 200 million XION tokens, with 10 million allocated for the initial airdrop.
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