Originally published on: November 01, 2024
XYO, a pioneering decentralized physical infrastructure network, has made a significant move by launching on the Solana blockchain network. This strategic decision was driven by Solana’s impressive features, including high throughput, low transaction costs, and scalability, as stated in a recent blog post by XYO.
With the introduction of the XYO token on Solana alongside Ethereum, users now have access to a wider range of cross-chain capabilities and flexibility. The native XYO token of the DePIN can now be traded against tokens like Solana (SOL) and USD Coin (USDC) on Solana-native decentralized exchanges such as Jupiter and Raydium.
Markus Levin, co-founder of XYO, emphasized the importance of bringing XYO into the Solana decentralized finance ecosystem. This integration allows holders of Solana-based tokens to seamlessly trade into XYO and access its innovative DePIN data ecosystem through platforms like Jupiter and Raydium.
Expanding to Solana is part of XYO’s overarching mission to make its services accessible across various blockchain networks. With over 8 million nodes operating in 150 countries, XYO is a leading DePIN that focuses on verifying location and real-world data for both Web2 and Web3 projects.
DePINs, like XYO, play a crucial role in decentralizing real-world infrastructure systems, leading experts to predict that they will be a major use case for Web3. Solana’s attractive features, such as low transaction fees and efficient parallel processing architecture, make it an ideal choice for DePIN projects like XYO, Helium, io.net, and Render.
As the crypto space continues to evolve, the partnership between XYO and Solana signifies a step towards a more interconnected and versatile blockchain ecosystem. Stay updated on the latest developments in the world of decentralized finance by subscribing to the Finance Redefined newsletter. Join our community of informed investors and stay ahead of the curve on emerging financial opportunities.
