BlockTalks x X Protocol AMA Transcript!
We recently hosted an AMA with X Protocol , on November 17th at 1PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Jessie Chua, CMO at X Protocol So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Please tell the community about X Protocol in detail?
Ans —X Protocol is built in RUST language, featured with cross-chain bridge, privacy computing and data analysis pallets.
It provides a decentralized, safe and fast bridging solution. Initially deployed on Polkadot, the preparations for the deployment on public chains such as Solana, Polygon, ETH, BSC, etc. have been completed and will proceed in an orderly manner.
X Protocol aims to build the first Metaverse + application portal on Polkadot and Solana, integrating source gameplay and land economic model, providing cost-efficient access to Metaverse for DApps on heterogeneous chains, sharing user group of X Protocol as well as enriching the X ecology.
X Protocol aims to build the first Metaverse + application portal on Polkadot and Solana, integrating source gameplay and land economic model, providing cost-efficient access to Metaverse for DApps on heterogeneous chains, sharing user group of X Protocol as well as enriching the X ecology.
Here are our contact :
Twitter : https://twitter.com/X_Protocol_
Telegram : https://t.me/XPredictMarket
Q2. What do you think is X protocol advantage over its competitors?
Ans —The metaverse is an immersive virtual world close to reality and an open network world of the future.
This straddling of the physical and digital worlds naturally lends itself to blockchain technology. Because digital objects, content and intellectual property can flow through the metaverse, blockchain technology can be used not only for user data, but also to allow users and companies to create content and goods, which in turn can flourish.
More importantly, blockchain technology can also create a fully functioning economic system in the metaverse that is connected to the real world.
Therefore, we decided to create a metaverse with blockchain technology as the base protocol, and the X Metaverse was born.
People can benefit from the DID system and economic model to achieve the freedom of self-defined finance.
Q3. Could you please tell us about $POT,its total supply, its features?
Ans —$POT will be the only governance token for X Protocol in our X Metaverse，users can stake the POT token to become a governance node.
Ecosystem growth: 15% of the total circulation; For marketing, cooperation and Pr.Linear release after TGE every quarter within 3 years.
Team & Advisor: 10% of the total circulation. Reserved for team and advisor as incentive.6 months lockup after CEX listing, then monthly release within 36 months.
Liquidity Pool: 15% of the total circulation. Liquidity for uniswap and other exchanges.Quarterly release on CEX listing, 3 year linear unlock.
Pool reserved for Yield-Farming: 35% of the total circulation. For network incentive after the main-net launch.
Fundraising: 25% of the total circulation. Support the initial development of the project.Release according to investment term.
Q4. Can you tell us about your recent activities and progress?
Ans —The IDO we held on DuckDAO, FLY, and Dao starter platforms received a lot of interest from the community. DuckDAO had 484 seats and received over 1,400 whitelisted successful registrations, not counting the number of applications prior to overrides.
FLY had a target amount of 50,000U, and received 398,991 USDT, over-subscribed by nearly 800%.
200 seats on Dao Stater platform sold out in one minute.
The kickstarter /IEO activities on Gate.io and MEXC at 11/10 with a maximum gain of 1,238%.
Most importantly, we have also recently launched our very X-metaverse platform successfully and are holding community testing events. Users can follow the community guidelines to participate in the X-metaverse beta test and get 1000$ POT reward: https://medium.com/x-predict-market/share-1000-pot-in-x-metaverse-airdrop-event-f4dd85458a7e
Questions Asked on Twitter For X Protocol Team!
Q1. As a regular user, how do I participate in the X-Metaverse? Or how do I get something out of the X-Metaverse?
Ans — Ordinary users can enter the metaiverse without any threshold and just need to access the official website to participate.
Of course, if you want to participate in the Dapp you need to hold a POT to participate and profit according to the rules of the third party Dapp. And, we will also regularly hold airdrops for the whole metaverse, just play and socialize in the meta-universe according to the rules and you will have a chance to get the reward：https://medium.com/x-predict-market/share-1000-pot-in-x-metaverse-airdrop-event-f4dd85458a7e
Q2. Can you explain a little about the X Market Prediction? Last month they had a series of championship predictions with the acclaimed game LOL, so will these prediction events be sporadic and game-only? What can be gained by the user who succeeds in his prediction?
Ans —X predict market is a decentralized cross chain prediction platform. The new fixed product market maker (FPMM) conducts automatic market maker. Users can get governance token POT rewards by creating predictions, participating in predictions, successfully predicting, and providing liquidity. Users can stake to be qualified as a governance node, to participate in community governance voting and other important events.
Currently, 11,000+ access addresses have been accumulated under the no-reward mechanism, and at least 50k+ USDT per day can be achieved by maintaining the current activity after the main network goes online. Twitter 27.2K followers, telegraph group 39,577 people, community communication is active and positive.
Q3. Security is definitely the most important thing in the cryptocurrency world, releasing the “X Protocol SRC HACK CHALLENGE” earlier to encourage hackers to identify potential loopholes to ensure our protocol is secure. What is “X Protocol SRC HACK CHALLENGE”? How does it work?
Ans —We are the 10th team in the world to complete all milestone development tasks and the 2nd team in the world to complete all milestone tasks at once. The team updated an average of 800 lines of code per day for the past 3 months.
In order to deal with the problem that auditing agencies cannot audit the RUST code, the team took the initiative to launch a global SRC attack invitational competition with a prize of $500,000. After a month, the project’s cross-chain bridge core and other business cores were not found any vulnerabilities by white hats.
Q4. NFT is in top trends in crypto world rightnow. What do you think about this? Does POT have any plans to add NFT to your ecosystem?
Ans — Recently, metaverse is very popular because it is an immersive virtual world in which people can enjoy themselves. I don’t think this is limited to some circles because we know some traditional tech companies like Facebook are also trying to build metaverse products.
So it is a predictable fact that the metaverse circuit is becoming popular. For the mainstream market, as long as the product is user-friendly, people will easily get on board, especially in NFT. NFT enables art and data to be connected and digital technology to be expressed through beauty, making it possible for digital technology to gain wider attention, which is definitely a boon for the whole market. And metaverse, the best way to showcase and land NFT at present or even in the future, its potential speaks for itself.
We have already signed NFT artists and will continue to provide creative NFT to the meta-universe, and we will also launch a first-party NFT trading market as part of the ecology.
Q5. They recently announced that the X protocol core team is looking into developing a staking NFT so I would like to know if the community will be able to vote to ask for this important feature to give even more value to the protocol NFTs? Do you plan to have your own marketplace?
Ans — Yes, we will move towards DAO and gradually make the community a core component of the meta-universe. Currently, we have expanded the community to the world. We have formed communities in multiple languages. Also, we are working on an ambassador program. Anyone can be a representative of your region and become a leader in the metaverse, leading your region to get more benefits in the metaverse. If you want to be a part of us, remember to join our group.
Questions Asked by our BlockTalks Community Members during live Session to X Protocol Team!!
Q1. Projects that aim to create a metaverse should be focused on global markets so I would like to know what plans you have for regions such as Europe, Latin America or Southeast Asia? What plans do you have to create communities on a regional level? How global is the X protocol?
Ans — There are already communities in Japan, Vietnam, and Spain, and each community maintains a high level of activity. Since then, we have also been selecting loyal users from our users to become our ambassadors and become part of X Protocol to manage their regions.
Q2. Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relatiionships?
Ans — Of course,Here are some of the collaborations with other projects.
Peri Finance
https://twitter.com/XPredictMarket/status/1432946629380698112
Crust Network
https://twitter.com/CrustNetwork/status/1425027562544123905
Black Ocean
https://twitter.com/FrankLinYield/status/1422172992688300034
ParamiProtocol
https://twitter.com/XPredictMarket/status/1420632940992622597
Also We have received investment from
HuobiVentures
https://twitter.com/X_Protocol_/status/1456516124791623680
OKEx ventures
https://twitter.com/X_Protocol_/status/1456591883438739464
Gate.io
Q3.As for your native token, could you tell us what the utility will be across your entire ecosystem? And if it is really necessary to have the to enjoy its services, where can I exchange its tokens? or has not yet made its official launch?
Ans — Currently $POT is live on MEXC and Gate.io. $POT will serve as the only token of Meta Universe and will be the only requirement for Meta Universe to participate in the Dapp. Users can participate in activities held by Dapp, such as prediction and NFT trading, by holding and pledging them, and get more benefits by doing so. Therefore, the value of $POT lies in holding, not selling.
