Introducing the Balance Adjustment xApp: Unlocking the Possibilities of Xahau
In our commitment to making the Xahau ecosystem accessible to our users, we’re happy to announce our latest xApp: the Balance Adjustment xApp, making Xahau Balance Claims accessible. This new addition to our collection of xApps is designed to help you access a Monthly Balance Adjustment feature native to the Xahau network on its mainnet and testnet.
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Understanding the Balance Adjustment xApp
The Balance Adjustment xApp grants users access to a core feature of the Xahau network. By utilizing this xApp, Xaman users can seamlessly participate in the Xahau network and claim balance adjustments.
This integration taps into the functionality of the Xahau native asset, XAH, which puts back into circulation some of the XAH burned from transaction fees, allowing each active user to claim an increase in their account balance.
How the Balance Adjustment xApp Works:
- Opt-In Mechanism: Users must opt-in to participate. This is a simple yet crucial step to start benefiting from the Balance Adjustment feature.
- Claiming Balance Adjustment: On the Xahau mainnet, you can claim your balance adjustment every ~30 days (2600000 seconds to be exact). The testnet offers a faster cycle for testing purposes with a period of just 100 seconds.
- Opting-Out and History Tracking: If you decide not to participate or wish to stop, potentially due to possible tax implications applicable in your jurisdiction, opting-out is straightforward. Additionally, a history page is available to track previously claimed balance adjustments.
- Flexibility and Control: With the ability to opt-in, claim, and opt-out at your discretion, you have complete control over your engagement with this feature.
For a detailed understanding of how Balance Adjustments work within the Xahau network, please refer to the Xahau Whitepaper.
Sustainable Smart Contracts with Xahau
Xahau's unique approach to managing the expenses associated with smart contracts sets it apart in the digital asset landscape.
The Balance Adjustment xApp helps combat the challenges posed by the higher fee costs of Hook transactions.
By introducing a protocol-level mechanism for putting burned tokens back into circulation, Xahau ensures a balanced and user-focused ecosystem.
Join Us on This Journey
The introduction of the Balance Adjustment xApp marks another step forward in our commitment to providing you with cutting-edge tools and features when using Xaman. This xApp offers an opportunity to utilize the functionality that Xahau has to offer.
Please note that engaging with the Balance Adjustment xApp and its features may have financial, tax, or legal implications.
We strongly advise you to consult with a local tax attorney or a licensed professional to understand how claiming balance adjustments on the Xahau network may affect your circumstances. Xaman does not provide tax, legal, or accounting advice. This content is for informational purposes only and should not be considered tax, legal, or financial advice.