Tiny Sentry Key FAQ
Tiny Sentry Key FAQ
Contract Address: https://arbiscan.io/token/0xbc14d8563b248B79689ECbc43bBa53290e0b6b66
What is the Tiny Sentry Key Update?
Recently there was a community proposal created in our Discord. The proposal outlined problems in that the current Key sale price of 1.43 ETH created a barrier to entry and resulted in key holders not matching with the target market of games on Xai. Game devs chimed in to echo this sentiment. The proposal suggested to do a 1:100 key split to reduce the price.
How did the community react to this proposal?
The community was supportive. Multiple game devs have indicated that if this were to take effect and the Sentry Key holder base would better align with their target market they would airdrop to Sentry Key holders. The result was that the Xai Foundation is going to execute on this proposal after it received community support.
What is the 1:100 Key Split for Xai Sentry Keys?
The 1:100 Key Split involves increasing the max key supply by 100 times, from 50,000 to 5,000,000 keys, and reducing the price of each key by 100 times to make Sentry Keys more affordable and accessible.
Why are we proposing a 1:100 Key Split?
The split aims to lower the entry cost for Sentry Keys, making them accessible to a broader range of participants, and to reignite the growth of the Xai gaming community by allowing more gamers to become Sentry Key holders.
I already own a key, why is this good for me?
We’ve had a number of games want to create airdrops but had concerns about not being able to connect to their target market given the price of keys. With this change, we have been able to get 12+ projects to commit to airdrops for key holders.
How will the 1:100 Key Split affect current Sentry Key holders?
Existing holders will receive an airdrop of 99 additional keys for every key they currently own, ensuring their percentage ownership of the total supply remains the same.
Will the 1:100 Key Split change the value of my existing Sentry Keys?
The split will reduce the individual price per key by 100 times, but since you will receive 99 additional keys for each one you hold, your overall value and percentage of the total supply will remain unchanged.
How will the additional keys be distributed to current holders?
The additional 99 keys per existing key will be airdropped directly to current holders. If your keys are staked in pools, the airdropped keys will be automatically staked in the same pools.
Is this going to increase my gas costs for operating keys?
No, with this release we are implementing optimizations for both assertions and claims that will actually reduce the gas costs to operate keys compared to before the split
Can you explain in more detail what the technical changes are?
Yes, you can read about how we accomplish these savings here in our gitbook page here.
What will be the new price for a Sentry Key after the split?
After the split, the price of each Sentry Key will be 100 times lower than its current price. For example, if the current price is 1.43 ETH, the new price will be 0.0143 ETH.
How will the bonding curve be adjusted to reflect the key split?
The key supply for each bonding curve tier will increase by 100 times, and the price for each tier will decrease by 100 times, maintaining the bonding curve's structure but at a lower price point.
How will the esXAI staking capacity per key change after the split?
The esXAI staking capacity per key will decrease by 100 times. For example, if the current capacity is 20,000 esXAI per staked key, it will be 200 esXAI per staked key after the split.
What will happen to the base win percentage of keys after the split?
The base win percentage of keys will change from 1% to 0.01%, ensuring that existing holders maintain the same reward rate after the split.
How will the 1:100 Key Split benefit the Xai gaming community?
By reducing the price barrier and increasing the availability of Sentry Keys, the split will enable more gamers to participate as Sentry Node holders, fostering greater growth and engagement within the Xai gaming community.
How can I mint more Keys?
At Friday Dec 13th, 6pm PST, you can mint at https://sentry.xai.games
Are there any new payment options?
Acceptable payment options on our mint page at https://sentry.xai.games now include
Arbitrum One: XAI, esXAI, and ETH
Ethereum: ETH and USDC
Solana: SOL and USDC (note: you will still need to connect an Arbitrum One wallet to mint your key to)
Polygon: SUPER
Fiat: Credit and Debit
How can I stake my key?
Once you mint your key you can go to https://app.xai.games to stake your key
Do I need to KYC?
You do not need to KYC to mint a key, stake your key, or claim staking rewards. However rewards are in non-transferable esXAI which have a redemption claim. To claim to transferable XAI, you must pass KYC. Also note, there are restricted jurisdictions that are IP blocked and will fail KYC, namely the United States.
Why are you having me do KYC at the end of the flow?
While we strive to provide the best service possible for KYC, depending on jurisdiction and how easy it is for our provider to access supporting documents, it can take days. We wanted to enable you to stake and start earning rewards immediately without having to wait for this process. You can initiate the KYC process at any time.
How do I get these airdrops?
Each game will announce how to get their airdrop and will have an allocation set aside for Sentry Key holders to claim. We will also announce all of these airdrops on our channels and link to instructions on how to claim. So mint some keys and stay tuned to our social channels for when the airdrops go live!
Have any airdrops been announced yet?
Valeria
10+ more