CryptoSlate not too long ago had the chance to speak with Monica Durga, the founding father of xHashtag, a play-to-earn protocol constructed on Solana.
Monica led a number of blockchain tasks 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 group.
What’s the skilled background of the xHashtag founders and what’s their earlier expertise in crypto or DeFi?
Hiya. 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 change on 0x protocol (first secure coin dex at the moment) for which our group has additionally acquired a grant from them. Later, I additionally acquired publicity in constructing a crypto derivatives centralized change.
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 group serving to to design and construct cross-chain liquidity protocol and its integration with DEXs.
What downside 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. Tasks can leverage group expertise to speed up group progress by rewarding invaluable actions in their very own $tokens with elective vesting to steadiness promote strain.
As I began constructing and researching varied use circumstances of blockchain expertise, I noticed that all of it boils right down to the group. Blockchain expertise as we all know it at present is democratized and constructing nice merchandise is just not troublesome, however getting customers is essentially the most troublesome problem that’s confronted by any blockchain mission, actually, any product on this planet.
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 tasks and customers.
How many individuals are engaged on xHashtag and the place is the group positioned?
The xHashtag group at the moment has 10 members positioned throughout India, Singapore and the US. Our product lead is ex-US Air Pressure 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 group has equally good expertise in constructing merchandise in blockchain expertise.
What applied sciences have been used to construct the xHashtag platform and why did the group 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 by way of velocity in addition to developer exercise, and our product is nicely suited to tasks within the early phases, that are a lot on Solana.
Moreover, Solana’s low transaction price makes it nicely suited to micro-transactions like we have to make on our platform, nevertheless, our progressive 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 have now struck partnerships with a number of recognized tasks (but to be introduced) and several other notable influencers like TheMoonCarl, CryptoBanter, Evan Luthra and extra.
We’re coming into a long-term partnership with our IDO associate, SolRazr, a premium launchpad on Solana, as we’d be capable to cater to the group progress wants of tasks within the pre-IDO section. We can be making extra bulletins within the coming weeks with the beta launch of our platform.
Which varieties of crypto customers would profit from utilizing the xHashtag platform?
We have now 3 person teams on xHashtag — the Web3 tasks (Marketing campaign Creators) and customers (Marketing campaign Members) and Reviewers (Marketing campaign Reviewers).
- Web3 Tasks which can be in pre-IDO section/ IDO/ post-IDO would be capable to easily launch their group campaigns and fund them on the blockchain in a decentralized and trustless method. xHashtag presents them a solution to successfully market their product and in addition assist them obtain clean token distribution.
- Customers who can be the marketing campaign individuals and can be capable to flick through these campaigns on our platform with out having to modify tabs /gleam campaigns and might earn crypto rewards by finishing these on-chain/off-chain duties.
- Reviewers are the $XTAG stakeholders who might evaluate the duties made by different customers on the platform and earn $XTAG tokens in rewards.
What’s the greatest ache level on this planet of Play-2-Earn?
The largest ache level can be to maintain the economic system secure and balanced. We’ve solved it by designing a secure economic system the place the rewards aren’t depending on inflation of our token (XTAG), however is coming from our consumer tasks (in their very own $tokens), in change 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 remains to be a debate, however we at xHashtag consider that working sooner or later wouldn’t want workers to go to workplace as location wouldn’t matter anymore nor would time. There are new varieties of jobs incoming that we in all probability can not think about proper now, and such jobs would require a brand new kind of market, and we’re constructing decentralized infrastructure for it proper now. We’re beginning with easy duties, however our DAO can accommodate any kind of duties so long as there are eligible reviewers for a similar!
We count on to assist a minimum of 1000 tasks within the subsequent 3 years, and xHashtag might in all probability change into a vacation spot to earn full-time earnings for lots of people and a platform with decentralized liquid workforce that’s accessible 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, Activity Eligibility Prioritization, and Reviewer Standing Upgrades. The most effective half about xHashtag is that customers can earn cash with zero funding.
Nevertheless, 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 price of two% can be charged when the marketing campaign is initiated.
This price can be transformed to XTAG and is distributed to the DAO treasury and can both be used for additional growth or burnt, a call taken by the DAO.
What are you able to inform us concerning the milestones already achieved and the longer term roadmap?
We have now not too long ago launched our MVP and our group grew very quickly, and we’re at the moment have over 100k members in our Telegram channel and over 97k followers in Twitter. We intend to broaden our incentivization program to help on-chain participation and share the identical expertise with different tasks within the crypto house in order that they are often benefited, and customers obtain a steady stream of duties and rewards.
We have now raised $2.6 Million throughout two rounds via nice backers, and our IDO is arising on twenty sixth November 2021 on SolRazr, adopted by an change itemizing on twenty ninth.
We have now already partnered with 3 tasks and we can be revealing them shortly whereas we Beta model of our platform. This implies our group can be consistently incentivized each day to spend a while on properties of associate tasks.
Other than that, we’re structuring our structure in such a manner that whereas nonetheless constructing on Solana, we can be supporting transactions throughout BSC, Polygon, Avalanche, Polkadot and extra. This implies extra rewards for our group, and we will assist extra tasks.
What’s one of the simplest ways for these to be taught extra about xHashtag?
The easiest way to find out about xHashtag can be via our web site www.xhashtag.io and our official social hyperlinks:
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