xHashtag AMA Recap

Hello, everyone!😁 We are glad to meet here: Monica Durga, CEO

Hey @mykocryptodiffer, thank you for hosting our AMA. Pleasure to be here and share about what we are building at xHashtag

Thanks! it’s a pleasure for us to host this AMA! let’s start with some introduction Q1: Can you introduce yourself to our community?

Sure. I’m Monica, Founder & CEO of xHashtag. I have been in the cryptospace for over 4 years now, and have extensive experience in building DEXs and CEXs (derivatives). My recent experience is with Router Protocol and Dfyn Network, where I was their Chief Technical Architect and also a founding member of the team.

Superb experience;)

Thanks @mykocryptodiffer 😀

now let’s get to the project Q2: Can you introduce xHashtag to us?

Ofcourse! Building on Solana, xHashtag is a DAO for the #FutureOfWork that helps #Communities grow by engaging in #Play2Earn. Projects can leverage community talent to accelerate commmunity growth by rewarding valuable actions in their own $tokens with optional vesting to balance sell pressure. From a user's perspective, xHashtag offers a way to earn crypto rewards for completing an array of on-chain and off-chain activities, while for the project, it presents a way to effectively increase off-chain and on-chain engagement on a daily basis through tokenized rewards.

Great! i see let’s now focus on future plans Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

We ran our Proof Of Concept for our own project and it has been largely successful. We were able to increase our community size to more than 96k on Twitter and 115k on Telegram. Apart from that, we have concluded our fundraising with over $2.6 Million raised across 2 rounds through great backers, including ZBS capital 😀 Our IDO is coming up next week on 26th Nov on https://solrazr.com/projects/xhashtag We are also planning to extend our community accelerator tool to support other web3 projects in the space and grow their community, not just a one time growth, but also support them through daily engagement in return for incentives in their own $tokens. In 2022, we are working towards enabling a custodial wallet solution that will smoothen the onboarding process and increase user adoption. We will also be supporting multiple blockchains, including BSC, Polygon, Avalanche, in addition to Solana.

What is the role of token in the ecosystem? 🔴🔴 Where can people currently buy it?what would be its used??💯🔴💯🔴✅ Our token $XTAG is a utility token for DAO governance. Staking $XTAG tokens on the platform serve three major purposes — Governance, Task Eligibility Prioritization, and Reviewer Status Upgrades. While staking isn’t mandatory for a casual user of the platform who simply wants to participate in campaigns without investing, staking XTAG tokens in varied quantities actually reduces the delay between the campaign initiation and when the user is actually able to participate in the task. This means a staked user is able to earn more because by the time a campaign actually reaches the unstaked user, the campaign might have run out of budget. Here’s a detailed article to know more: https://medium.com/xhashtag/what-makes-xhashtag-token-xtag-a-utility-token-1cf971f442d7

xHashtag would initially support simple tasks which can be verified automatically, but we will bring in more complex tasks into the system which requires human intervention for verification, and it would be the staked members of the DAO who can verify the submission in exchange for rewards.

Built in Solana, what kind system that xHastag aplly in allowing transactions across multiple blockchains, and which networks will supported after BSC, Polygon, Avalanche and Cardano at future development

We chose Solana as it’s the fastest growing layer-1 solution with a lot of developers building on top of it, which means there will be a lot of potential partnerships to be made. In addition to this, it’s also very cheap to do micro-tx, which is critical for us, however, we are structure our DAO in such a way that which Solana would be at the core, we will be able to process transactions across other blockchains including BSC, Polygon, Avalanche and even EVM enabled parachains on Polkadot & Kusama, such as Moonbeam, MoonRiver, Karura and more.

Who is the target audience of the xHashtag project? Is xHashtag a usable project only for those who can invest large sums or for crypto enthusiasts who do not have money but have time to benefit from xHashtag and generate income?

We have 2 sets of target audience: Web3 Projects: These are the projects who are either new, in which case they can include xHashtag in their goto market strategy, or they could be established projects who are in lookout for methods to expand their community and increase on-chain and off-chain activity the second set of the target audience are the users Users could be either fans of a particular project, or it could be users who are looking to earn some crypto in their spare time. Users can spend some time completing actions that allows the target project to growth, and for their contribution, they’ll earn the project’s native tokens. This allows users to be part of the project, and participate in the governance as well. Effectively, Web3 Projects can achieve decentralization with high ROI by using xHashtag.

🎁 xHashtag will be the first Solana community accelerator project to debut. What breakthroughs will this accelerator have as the firsts, compared to those in other ecosystems?

Yes, xHashtag would be the first community accelerator on Solana that will allows projects to grow their community by incentivizing the users with their own $tokens. It will not be a one-time affair as is the case with airdrops because projects would need daily engagement, both on-chain and off-chain. Users could later adopt the product without any need for incentives.

The industry of VR Games, Virtual theme park, VR studios is currently growing at a fast pace. How is xhashtag different from other VR/XR products and how is it going to compete with them? How do you feel about play to earn being the future of work for the Crypto space? Has this worked outside the crypto space ? How do you intend on attracting users to your platform?

Yes, metaverse and game projects are growing at a fast pace, and there are a lot of gaming projects coming into the market, which means users have a lot of options too. Attracting users could become challenging, and therefore xHashtag can help them drive users to such games and metaverse projects by incentivizing them to take action. The cryptomarket is such that there are various seasons, and each season has its own topic. We had DeFi, Cross-chain and now metaverse. Irrespective of what season it is, each of these projects would need users for sure and that’s the common need for all the projects, and we will be here to support them throughout. In addition to that, our economy is designed to be completely stable with no inflation as the rewards are paid in the campaign creator’s project tokens, and reviewers would be compensated with the fee collected from every transaction. We have a long term vision for our product. Also, the owner of a project can create an optional VR room for their community for their project on xHashtag, which is restricted to users who have staked the project’s respective $tokens. This creates more utility for any project’s $tokens.

Our token $XTAG is a utility token for DAO governance. Staking $XTAG tokens on the platform serve three major purposes — Governance, Task Eligibility Prioritization, and Reviewer Status Upgrades. While staking isn’t mandatory for a casual user of the platform who simply wants to participate in campaigns without investing, staking XTAG tokens in varied quantities actually reduces the delay between the campaign initiation and when the user is actually able to participate in the task. This means a staked user is able to earn more because by the time a campaign actually reaches the unstaked user, the campaign might have run out of budget. Here’s a detailed article to know more: https://medium.com/xhashtag/what-makes-xhashtag-token-xtag-a-utility-token-1cf971f442d7

After our IDO on SolRazr.com concludes on 27th, we will be listing on a centralized exchange (gate.io & another one yet to be announced), and in case you didn’t get a chance to participate in the IDO, you can purchase it directly from the exchange. We will also be listing it on Raydium where we will enable liquidity mining. We also have an active airdrop running over here -> @xhashtagairdropbot Once you join our community @xhashtagio, you’ll surely start earning constantly through the tasks posted over there. We will also be giving away something special to every member on @xhashtagio Here are our official social links to stay updated on the exciting future Twitter - https://twitter.com/xhashtagio Telegram - t.me/xhashtagio Medium - https://medium.com/xhashtag Linkedin - https://www.linkedin.com/company/xhashtag/ Discord - https://discord.com/invite/XBvvmuCTgY Website - https://www.xhashtag.io/ thank you @mykocryptodiffer

thank you Monica you’ve did a great work!

my pleasure! 😀😀