[Announcement]Xeno roadmap progress

Dear Xeno Community,

The Xeno team is happy to announce that it has released its Xeno Substrate Testnet repository on Github!

This release is the first step in Xeno’s journey towards achieving a cross-chain NFT creation application and NFT marketplace. The repository contains the first testnet version of the Substrate-based Xeno NFT Hub. The project explains how to deploy the test network and outlines the ongoing steps before the Xeno NFT Hub mainnet is ready for launch.

This outline maps out several key advancements and development items that are being worked on by the Xeno team for testnest advancement:

Staking and Block Rewards

Xeno NFT Hub will implement a normal bonded staking mechanism following the pattern of other parachain networks. However, Xeno is implementing the following changes:

Governance

Following in the footsteps of the Kusama and Polkadot networks, Xeno governance will initially use the Sudo Module, giving the development team elevated permissions. However, once the mainnet implementation launches and the network becomes stable, we will phase in the Collective, Treasury, and Democracy modules for a more decentralized network and protocol upgrading process.

Generalized NFT Support

Xeno NFT Hub is creating an extensible and generalized NFT layer that supports various popular NFT standards such as the Ethereum standards ERC721, ERC1155, and Tezos FA2 NFT

Along with this support, Xeno is creating a generalized Metadata schema specification for a JSON-based Metadata structure similar to TZIP-21. Our goal is to create a metadata standard that will serve as the de facto protocol for NFT metadata compatibility and integration across different blockchains.

Off-Chain Interaction

Xeno NFT Hub is tracking many parts of the Xeno Market application state in an off-chain manner for speed and efficiency. This Off-Chain Interaction will bridge the gap between the marketplace application and blockchain settlement layer giving both the security of blockchain and the speed of off-chain operations.

Parachain Integration

This is the first version of the Xeno NFT Hub testnet which runs as a single node or as an independent blockchain. The next version will adopt a live network codebase by integrating with the Substrate Parachain Implementation to get ready for cross-chain operations with the wider ecosystem.

Xeno is also happy to announce other areas of ongoing progress. We have reprioritized some of our roadmap goals to capitalize on recent trends in the fast-paced NFT industry. This reprioritization includes small adjustments to the roadmap along with a few new development additions and improvements mentioned here:

We will continue to provide more information on Xeno Cube developments, Xeno Gallery launches, testnet progress, and Xeno Market updates as they come, so please continue watching our official channels!

The Xeno Team

The marketplace and ecosystem for creating and trading Non-Fungible Tokens (NFTs) — https://xno.live