X1 mainnet is one year old. Its genesis block is timestamped 19:13:28 UTC on October 6, 2025, the moment validator operators took to their servers and swapped a long-running testnet for the real network. Twelve months later the chain has produced more than 83.7 million blocks, is closing in on 100 billion transactions, and spent its birthday paying the people who built it. Validators received their testnet airdrop, and investors reached their first vesting unlock on the same day.
Below is the state of the network on the morning of October 7, 2026, read from the chain and from X1’s public APIs, followed by what year one built and what comes next.
Jack Levin, X1 Labs CEO, marked the day with a post on X:
X1 Community - Today is our 1st year anniversary since we launched the most ambitious SVM project after Solana.
I am proud of what we have accomplished in the last 12 months and wanted to acknowledge everyone who pushed us to go further!
This one is for dreamers, builders, investors and validator operators.
Last but not least to our core team who doesn’t spend a single weekend without thinking how to make X1 better!
Thank you!
LFG!
Jack Levin, X1 Labs CEO, on X, 6 October 2026
The birthday payouts
Validators got their airdrop. In the first hours of October 6, X1 sent 5,393,104 XNT to 467 validator addresses: the locked 90% of the incentivized testnet rewards, plus a 6% staked yield. Nothing had to be claimed. The full breakdown is in our report on the completed airdrop.
Investors got their first unlock. October 6, 2026 was the 12-month cliff in the X1 Labs vesting schedule. On that day 25% of an exercised allocation became available, and the rest follows in 36 monthly releases. Investors claim through the X1 vesting dashboard, which asks only for the wallet used at signing: “Your wallet is your login.” How the schedule works, and why a first figure can be smaller than expected, is covered in X1 Labs’ investment round and XNT vesting, explained.
The Bootstrap Bonus is next. Nick Pettas, X1 Labs core developer, told validators on airdrop day that it is “coming next month”, which means November. The Bootstrap Bonus rewards validators’ own stake. It covers the operators who came over from testnet and those who joined mainnet later and had no testnet rewards to collect.
The state of the network
These figures were read from the public mainnet RPC at about 07:05 UTC on October 7, 2026.
| Metric | Value |
|---|---|
| Epoch | 401 |
| Blocks produced since genesis | 83.7 million |
| Slots skipped since genesis | 492,071, or 0.58% |
| Transactions, validator votes included | 99.8 billion |
| Average slot time over the year | 375 ms |
| Validators voting | 573 |
| Active stake | 997.5 million XNT |
| Inflation rate | 6.73% |
- 100 billion transactions is days away. The counter stood at 99,805,178,247. The network is processing about 1,560 transactions a second, nearly all of them validator votes and about six a second from users and apps. At that rate it passes 100 billion in roughly a day and a half.
- Block production has been steady. Fewer than six slots in every thousand were skipped across the whole year. In the last three complete epochs the skip rate was between 0.03% and 0.06%.
- Votes are still free. X1 validators pay no fee to vote. We measured the difference in our comparison with Solana’s vote costs.
- The client is current. The network runs Tachyon v4.0.3, the minimum version the Foundation’s delegation program now accepts.
Where the stake sits
Of a total supply of 1,077.9 million XNT, 997.5 million is actively staked. That is a high share, and most of it is treasury and Foundation stake, not public holders. Twelve nodes run by X1 Labs carry 683 million XNT, or 68.5% of active stake. The Foundation’s delegation pool spreads another 336.2 million XNT across 330 validators, about 907,000 XNT each at the median, with a cap of 1% of the network per validator.
Moving stake into more hands is the work of year two, and the birthday payouts are where it starts. Circulating supply was 14.05 million XNT on September 10. On October 7 it is 42.50 million XNT, or 3.94% of supply. The airdrop and the first investor unlock both fall inside that window.
XNT traded at $0.1948 when we read it on our live XNT price page. That gives a market cap of $8.28 million and a fully diluted valuation of $209.99 million. The two numbers belong together, because only 3.94% of supply is circulating.
Capybara: the self-stake bar is rising
The payouts have already changed how much validators stake into their own nodes. Project Capybara, the Foundation’s delegation upgrade, sets the minimum self-stake a validator needs to receive delegation, and it takes its bearing from P85, the 85th percentile of validator self-stake. The floor has been raised three times in a year:
| When | Minimum self-stake, XNT |
|---|---|
| Before Capybara | 2 |
| Around April 2026 | 1,000 |
| June 24, 2026 | 3,000 |
| September 2026 | 5,000 |
With the airdrop paid and the unlock open, P85 has risen to 11,709.72 XNT. Our own reading of the delegation program’s public API on October 7 shows how far the distribution has moved. Of 707 validators listed, 392 hold 5,000 XNT or more of self-stake, 166 hold 10,000 or more, and 108 are at or above 11,709.72. Another 259 validators miss delegation on self-stake alone.
X1 Report expects Capybara to raise the minimum towards that level. Nothing has been announced, and the number is not final. P85 moves every time a validator stakes, and the exact figure depends on which validators are counted: our API reading gave between about 10,800 and 12,100 XNT. The base for the new P85 will be set only once the next epoch begins and the last investors have staked what they unlocked. Epoch 402 was about nine hours away at the time of writing.
For operators the practical reading is simple. The current floor is 5,000 XNT, the Bootstrap Bonus counts self-stake up to 10,000 XNT, and the percentile that guides the floor is already above both. Our delegation program guide explains what clearing the floor is worth, and the original Capybara explainer covers the mechanism.
What year one built
A chain’s first year is judged by what runs on it. Here is what shipped on X1 mainnet.
- The client. Two major Tachyon releases reached mainnet: v3.1.14 in July and v4.0.3 in September, the second with twelve feature gates behind it.
- The bridge. The Warp Bridge added SOL and then BTC and ETH. In September XNT itself crossed over, and can now leave X1 for Solana as wXNT.
- Stocks. Tokenized shares arrived in September, starting with Tesla and followed by META, SPY, GOOGL and more. Our stocks page tracks their prices against the US market.
- Trading. XDEX added smart routing, limit and TWAP orders and farms that pay liquidity providers twice. On October 2 X1 got its first listing on a DEX tracker, GeckoTerminal.
- Privacy. Confidential payments went live in August, with the transfer amount hidden from the transaction.
- Names and apps. The X1 Name Service has registered 2,899 domains across .x1, .xnt and .xen. Around it grew a token launchpad, a games portal, encrypted storage and a farm that pays in stocks.
The full map is on our X1 projects and official links page, which lists more than 80 projects and tools running on or around the chain: explorers, wallets, DEXs, bridges, games and community sites.
What comes next
- The new P85. The next epoch boundary and the last investor stakes will show where the self-stake percentile settles, and whether Capybara follows it.
- The Bootstrap Bonus in November, for testnet veterans and for validators who joined later.
- Monthly investor releases. After the cliff, the remaining 75% of each exercised allocation releases over 36 months.
- The 100 billionth transaction, due within days.
A year ago X1 was a testnet. Today it is a mainnet with 573 validators voting, a bridge that carries XNT to Solana, tokenized stocks, a name service and a growing list of apps. Happy birthday, X1, and thank you to everyone who kept a node running through year one.
Network figures read from rpc.mainnet.x1.xyz, validator and delegation figures from api.delegation.mainnet.x1.xyz, operator names from x1val.online, supply and price from X1 Report’s live XNT page and domain counts from api.x1ns.xyz, all on October 7, 2026 at about 07:05 UTC.