We held a live AMA with CEO, Monica Durga from xHashtag on 17th November 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Serene | Shin Chan: Hi Monica, A very warm welcome to you
Monica | xHashtag: I’m Monica, Founder & CEO of xHashtag. I have been in the crypto space for more than 4 years now. I have extensive experience building CEX and DEX. 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 that is building a decentralized finance network for the secure, fast, and transparent trading of cryptocurrency assets.
We currently a team of 10 at xHashtag located across India, Singapore & the US. Our product lead is an ex-US Airforce personnel with over 10 years of experience in building precision software, while our marketing head co-founded Trendrr, a platform that was taken over by Twitter. Our technical team has equally good experience in building products in Rust and Solidity
Serene | Shin Chan: Any latest/ update news about xHashtag you would like to share with our community?
Monica | xHashtag: Absolutely! Our IDO is coming up on 23rd, November on Solrazr, followed by an exchange listing on 25th November. We are also offering 1 whitelist spot to a lucky winner from our ShinChan Community.
We have recently onboarded Tamar (Ecosystem Growth, Solana) and TheMoonCarl as one of our advisors who would help us grow further.
In terms of launch, staking, other cool features and campaigns are launching on our platform soon and are yet to be announced. So please stay tuned on our social media to know them first!
We will also open a Fusion Pool on Raydium so xTaggers can mine more $XTAG through liquidity mining
Twitter Section Begins:
Q1. You mention that users would be able to “Obtain cryptocurrency by performing basic marketing, chain, and creative goals with xHashtag.” This sounds easy, but will getting rewards with xHashtag be that simple? Is it going to be a lot easier and more fun than playing NFT games?
Monica | xHashtag: One would usually participate in a crypto airdrop via a gleam campaign or some other centralized means. The problem with this is that somebody will still have to send rewards to you, and you are trusting them that they will. In case of xHashtag, the reward will be locked in a smart contract, so if you do the task, you’ll get guaranteed reward, as long as you truly complete the task. We are gamifying the interface to make it a fun experience.
Q2. Which of your project’s objectives is the most empowering? What is the main objective of your project in the cryptocurrency industry?
Monica | xHashtag: Other than growing our own community, we are building a tool to help other web3 projects to accelerate their community growth. Not just one time growth, but we want daily engagement because that’s what really matters. Our users at the same time will be able to earn native tokens of various projects while completing tasks that help these projects grow.
Q3. Can we get it fully about PoS reward multiplier , how it will took for the staking.
What are the benefits will get by the trader’s.
Monica | xHashtag: At xHashtag, we give rewards to users for completing tasks in project’s native tokens, however, a Web3 Project can also drive users to purchase their tokens (or not sell their rewards) by asking them to stake it. In return, the projects can offer a multiplier on the rewards, which means a staked user may receive more rewards for completing the same task when compared to a user who hasn’t staked.
Q4. As play to earn DAO platforms what points that make xHashtag most fit to build on Solana network, are there considering to build on other networks option
Monica | xHashtag: We are building on Solana as its the fastest growing layer-1 solution with amazing developer activity, and this means a lot of new projects who would be needing our support. At the same time, Solana also offers us very cheap tx which is perfect for our activities which mainly involves micro transactions. The storage is also cheap on Solana.
But, we have architected our system in such a way that while our core system still sits on Solana, we can process transactions across multiple blockchains including BSC, Polygon, Avalanche and Cardano.
Q5. At xHastag they are building an economy that is by being provided by projects that want to complete user tasks and are willing to pay for it.So, Are tasks and other Earning Opportunities on your platform reduced? What about users who are not qualified for the task?
Monica | xHashtag: No. In a typical blockchain project, rewards are provided by inflating the token supply which leads to reduction in the token value, but in our case, our economy is designed to be very sustainable, and that’s because the rewards are coming from other projects who are willing to pay a fair value for the value our users will provide to them, in their own tokens.
I’m confident that our platform is something that the current market needs as there is no shortage of new projects, and all have one common need, and that’s a strong community.
XTAG on the other hand will be used for governance of the DAO. Users can stake XTAG in order to increase their earning potential by receiving tasks earlier than others.
XTAG stakers can also review tasks from other users and earn more rewards in XTAG.
Telegram Live AMA Begins:
Q6. What do I need to start working inside xHastag? Do I require any kind of experience to start? Will there be any kind of country restriction (problem seen very often in similar online jobs)? Will it be necessary to have some $XTAG to gain some kind of priority when qualifying for tasks?
Monica | xHashtag: In order to start working on xHashtag, you will need nothing but time. There are no restrictions as such from the platform, but campaign creators are free to choose the eligibility criteria for their campaign, and if they choose to block certain countries, the platform won’t display the task to the users from such restricted countries. While there is no requirement for you to hold XTAG in order to start earning, but if you hold XTAG, you are in a unique position to receive tasks before others, and this also means the best paying tasks will be picked up by the XTAG holders, and if the campaign still has any funds left, it can be completed by free users.
Q7. As far as I know the Solana network is trending at the moment. Is Xhashtag just following trends on Solana or maybe there is an important purpose for xhashtag to use the Solana network?
Monica | xHashtag: Well, Solana network is trending because there is a lot of developer activity on the platform, but we didn’t choose Solana because it is trending. We chose it because it fits the requirements of our platform as we will be processing a lot of micro transactions, and Solana is best known for that. Additionally, there are many new projects on Solana who could use our help.
Q8. If I have $XTAG and I want to stake $XTAG , how does Staking work? what is the minimum amount of $XTAG I should bet? what are the annual return prospects and other information i need to know ?and where can we bet ? besides staking is there a mining feature too?
Monica | xHashtag: I would recommend you to purchase at least $20 worth of XTAG in order to start receiving faster than others, and that way you can maximize your earnings. Regarding liquidity mining, we are starting a fusion pool on raydium.io followed by our IDO, and early users will be able to earn more XTAG by providing liquidity.
Q9. If I am whitelisted what should I do?
Monica | xHashtag: The winners for whitelist will be announced shortly, in the meantime, checkout this guide for next steps
xHashtag IDO Participation Status and KYC Guide
Here is a handy guide to understanding how to check your status and participate in the xHashtag IDO.
Q10. Do you have opened Ido or Airdrop? or own token?how can I participate?and where can I get letest update do you have any social link?
Monica | xHashtag: IDO is upcoming on 23rd November on solrazr.com. We will be listed on gate.io shortly after that.
Regarding airdrop, yes, we have a Mega Airdrop of $10000 reward currently running and today is the last day to participate. You can participate by going to -> @xhashtagairdropbot
once you join our community, the earning begins
Q11. What kind of problems does xHashtag offer projects that they don’t have to worry about?
Monica | xHashtag: Major requirement for any project is building a community. Most of the engineers are not great marketers, so we offer them a solution that can solve this problem.
Q12. xHashtag platform is build on Solana. So could perhaps tell us why have you chosen Solana to build your project? Why not BSC, ETH or other chains? What advantage of Solana did xHashtag appreciate the most?
I notice that xHashtag will also feature play to earn. So can you please tell us more about how can we earn in xHashtag? How will be xHashtag play to earn will be different with other platforms?
Monica | xHashtag: Yes, we are building on Solana for various reasons, but most importantly, we will be supporting every other blockchain out there so that our members have maximum exposure to projects from all the blockchains.
Q13. You say that xHashtag tokens can be used as collateral while enjoying additional rewards for community microtasks. Can you comment on exactly what kind of “microtasks” users must perform to earn these rewards? what do they consist of?
Monica | xHashtag: Microtasks could be onchain task or an offchain task. In case of on-chain microtask, it could be as simple as making a transaction on a dex, or it could be registering on a Play2Earn game. In case of off-chain task, it could be something as simple as a tweet to as complex as making a professional video.
Q14. What is xHashtag’s revenue model? How do you generate that revenue and profit?
Monica | xHashtag: xHashtag generates revenue by charging a 2% fee (subject to change as per DAO consensus) on every transaction, which will be converted to XTAG and sent to the DAO treasury that can be claimed by developers or the community, again based on the DAOs wishes.
Q15. I read that xHashtag users will have access to a virtual reality room accessible exclusively to XTAG token holders. That sounds awesome! Where did this idea come from? and do we need to have a minimum of tokens to be able to access this?
Monica | xHashtag: Once you stake a project token while participating in the campaign for a reward multiplier, staking project tokens gives you PoS tokens (#project tokens) that are fully backed by the actual token. Your stake now is a proof that you are a part of the project’s community, so you should well be given access to any exclusive metaverses the project has. And there is no minimum number of tokens as such to have access to these metaverse /VR Rooms