The staking vault token, svXAI, represents a user's share in the SideShift Staking Vault. When a user chooses to stake they deposit XAI into the vault and get svXAI in return. Users can unstake/withdraw svXAI at any time and receive XAI back from the vault.
svXAI is held on a users paired MetaMask wallet. Your svXAI balance and the amount of XAI that you can withdraw from the on-chain staking vault is shown on the SideShift staking page as the “redeemable XAI” for your svXAI balance.
The value of 1 XAI and 1 svXAI will differ. The amount of svXAI you will receive when staking is based on the total XAI in the staking vault. If the XAI that you deposit equates to 1% of the XAI in the pool then you would receive the equivalent of 1% in svXAI shares.
Learn more about svXAI position/size: HERE
The value of svXAI will continually increase to be worth more XAI as staking distributions are paid into the vault. Any new stakers will need to add more XAI to the vault to receive same amount of svXAI compared to previous stakers.
Learn more about staking rewards compounding: HERE.