Back to collectionThe Redemption Curve Makes Waiting a Cost
Staking had yet to open, but the argument around it had moved from design inspiration to the cost of leaving. Today, the price climbed back above USD 0.80. The question shifted from whether people could stake to how long they were willing to lock their assets.
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Staking had yet to open, but the argument around it had moved from design inspiration to the cost of leaving. Node operators holding esXAI wanted to know how long redemption would take and how much they would receive if they later needed liquidity.
Today, the price climbed back above USD 0.80. The Chinese community worked through each point on the redemption curve: converting esXAI back to XAI required a lockup. The shortest option, 15 days, returned only one quarter; 90 days returned 62.5%; a one-to-one return required the full 180 days. One reader called it “a penalty for patience,” rather than an unlock.
The question shifted from whether people could stake to how long they were willing to lock their assets. The Night Watchman chose no term for anyone else. He urged operators he knew to consider when they might need the funds before comparing the return at each term. When the feature would open, and what each person would choose, remained unsettled.