What is STAKE
xDai is a USD stable chain implementation and multi-chain token staking ecosystem using STAKE governance token available for Ethereum ERC-20 token standard and native xDai stable chain, used to support the underlying Proof-of-Stake consensus algorithm. Transactions on stable chain are conducted using xDai, a stable coin with 1:1 value ratio to Dai. Because transactions occur using a bridged chain, there are improvements to speed and cost effectiveness, with transactions and fees paid using a single coin. To interact with xDai blockchain, Dai is locked into a smart contract on Ethereum, to remain in this contract and cannot be moved until the contract receives a verified signal to unlock it. Using a bridge mechanism called TokenBridge, data about the locked Dai is transmitted to a smart contract on the xDai chain that will create (mint) the exact same amount of xDai. This xDai is then usable on the xDai chain. xDai can also be purchased directly from AscendEx (formerly Bitmax) exchange.