CryptoSlate just lately had the chance to talk with Monica Durga, the founding father of xHashtag, a play-to-earn protocol constructed on Solana.
Monica led a number of blockchain initiatives together with constructing DEXs and CEX (derivatives). Her current work consists of positions at Router Protocol and Dfyn Community the place she was their Chief Technical Architect in addition to the founding member of the workforce.
What’s the skilled background of the xHashtag founders and what’s their earlier expertise in crypto or DeFi?
Whats up. I’m Monica Durga, Founder & CEO of xHashtag. Again in 2017, I began my journey in crypto by researching Ethereum and decentralized protocols and constructed a decentralized alternate on 0x protocol (first secure coin dex at the moment) for which our workforce has additionally obtained a grant from them. Later, I additionally received publicity in constructing a crypto derivatives centralized alternate.
My current expertise has been with Router Protocol and Dfyn Community the place I used to be their Chief Technical Architect in addition to the founding member of the workforce serving to to design and construct cross-chain liquidity protocol and its integration with DEXs.
What drawback is xHashtag fixing?
xHashtag is a Play2Earn DAO for the “future of labor” the place customers can earn crypto by finishing easy on-chain / off-chain duties. Initiatives can leverage neighborhood expertise to speed up neighborhood progress by rewarding invaluable actions in their very own $tokens with non-obligatory vesting to stability promote strain.
As I began constructing and researching varied use instances of blockchain expertise, I spotted that all of it boils all the way down to the neighborhood. Blockchain expertise as we all know it at the moment is democratized and constructing nice merchandise just isn’t tough, however getting customers is essentially the most tough problem that’s confronted by any blockchain mission, the truth is, any product on the earth.
On the identical time, there are lots of people on this planet who’ve entry to the web and are actively in search of new avenues to earn crypto, not by investing capital, however by time. That’s the rationale why we’re constructing xHashtag, a win-win resolution for each initiatives and customers.
How many individuals are engaged on xHashtag and the place is the workforce positioned?
The xHashtag workforce presently has 10 members positioned throughout India, Singapore and the US. Our product lead is ex-US Air Drive personnel with over 10 years of expertise in constructing precision software program, whereas our advertising and marketing head co-founded Trendrr, a platform that was taken over by Twitter.
Our technical workforce has equally good expertise in constructing merchandise in blockchain expertise.
What applied sciences had been used to construct the xHashtag platform and why did the workforce select to construct on Solana?
xHashtag is being constructed on Solana. We selected Solana as a result of it is without doubt one of the fastest-growing layer-1 blockchains when it comes to velocity in addition to developer exercise, and our product is properly suited to initiatives within the early phases, that are loads on Solana.
Moreover, Solana’s low transaction payment makes it properly suited to micro-transactions like we have to make on our platform, nevertheless, our revolutionary infrastructure design permits us to course of rewards throughout a number of blockchains together with Cardano, Binance Good Chain, Polygon, Avalanche and some parachains on Polkadot.
Does xHashtag have any notable partnerships?
We’ve got struck partnerships with just a few recognized initiatives (but to be introduced) and several other notable influencers like TheMoonCarl, CryptoBanter, Evan Luthra and extra.
We’re getting into a long-term partnership with our IDO associate, SolRazr, a premium launchpad on Solana, as we’d be capable to cater to the neighborhood progress wants of initiatives within the pre-IDO part. We will likely be making extra bulletins within the coming weeks with the beta launch of our platform.
Which forms of crypto customers would profit from utilizing the xHashtag platform?
We’ve got 3 consumer teams on xHashtag — the Web3 initiatives (Marketing campaign Creators) and customers (Marketing campaign Contributors) and Reviewers (Marketing campaign Reviewers).
- Web3 Initiatives which might be in pre-IDO part/ IDO/ post-IDO would be capable to easily launch their neighborhood campaigns and fund them on the blockchain in a decentralized and trustless method. xHashtag presents them a method to successfully market their product and likewise assist them obtain clean token distribution.
- Customers who could be the marketing campaign members and can be capable to flick through these campaigns on our platform with out having to change tabs /gleam campaigns and may earn crypto rewards by finishing these on-chain/off-chain duties.
- Reviewers are the $XTAG stakeholders who may assessment the duties made by different customers on the platform and earn $XTAG tokens in rewards.
What’s the greatest ache level on the earth of Play-2-Earn?
The largest ache level could be to maintain the economic system secure and balanced. We’ve solved it by designing a secure economic system the place the rewards usually are not depending on inflation of our token (XTAG), however is coming from our consumer initiatives (in their very own $tokens), in alternate for actual worth add from our customers on their off-chain and on-chain properties.
The place do you see the xHashtag ecosystem over the following few years? What would be the main milestones?
xHashtag is being designed as a DAO for Future Of Work. The Future Of Work continues to be a debate, however we at xHashtag imagine that working sooner or later wouldn’t want staff to go to workplace as location wouldn’t matter anymore nor would time. There are new forms of jobs incoming that we in all probability can’t think about proper now, and such jobs would require a brand new sort of market, and we’re constructing decentralized infrastructure for it proper now. We’re beginning with easy duties, however our DAO can accommodate any sort of duties so long as there are eligible reviewers for a similar!
We anticipate to assist at the least 1000 initiatives within the subsequent 3 years, and xHashtag may in all probability grow to be a vacation spot to earn full-time earnings for lots of people and a platform with decentralized liquid workforce that’s out there to any entrepreneur on-demand with none commitments.
What’s the utility of the xHashtag token?
Staking $XTAG tokens on the platform serve three main functions – Governance, Job Eligibility Prioritization, and Reviewer Standing Upgrades. The very best half about xHashtag is that customers can earn cash with zero funding.
Nonetheless, in the event that they wish to earn extra, they’ll stake $XTAG and obtain duties on precedence earlier than the marketing campaign runs out of finances. Additionally, a payment of two% will likely be charged when the marketing campaign is initiated.
This payment will likely be transformed to XTAG and is shipped to the DAO treasury and can both be used for additional improvement or burnt, a choice taken by the DAO.
What are you able to inform us concerning the milestones already achieved and the longer term roadmap?
We’ve got just lately launched our MVP and our neighborhood grew very quickly, and we’re presently have over 100k members in our Telegram channel and over 97k followers in Twitter. We intend to develop our incentivization program to assist on-chain participation and share the identical expertise with different initiatives within the crypto area in order that they are often benefited, and customers obtain a steady stream of duties and rewards.
We’ve got raised $2.6 Million throughout two rounds by means of nice backers, and our IDO is arising on twenty sixth November 2021 on SolRazr, adopted by an alternate itemizing on twenty ninth.
We’ve got already partnered with 3 initiatives and we will likely be revealing them shortly whereas we Beta model of our platform. This implies our neighborhood will likely be always incentivized each day to spend a while on properties of associate initiatives.
Other than that, we’re structuring our structure in such a manner that whereas nonetheless constructing on Solana, we will likely be supporting transactions throughout BSC, Polygon, Avalanche, Polkadot and extra. This implies extra rewards for our neighborhood, and we can assist extra initiatives.
What’s one of the best ways for these to study extra about xHashtag?
The easiest way to study xHashtag could be by means of our web site www.xhashtag.io and our official social hyperlinks:
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Disclaimer: CryptoSlate holds a monetary place in xHashtag and was given the chance to take part within the presale of this mission in alternate for information, evaluation, and different forms of protection. CryptoSlate was NOT paid to publish this text.
