Building on Solana, xHashtag is a Play2Earn DAO for Future Of Work.
Frumps | OIG: Greetings everyone!
Welcome back to our AMA Series today with xHashtag! The Play2Earn DAO for Future Of Work! We have with us today, Monica (CEO)
Monica, welcome to the OIG Main Stage, Could you introduce yourself, tell us a little about who you are and what you do at xHashtag?
Monica | xHashtag (Will never DM first): Thank you Frumps
It’s a pleasure to be here and share our project xHashtag with you all at OIG, our partners!
I’m Monica, Founder & CEO of xHashtag. I have over 4 years of experience in crypto and have built various interesting products including 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.
At xHashtag, we are building a DAO for Future of Work where Communities can grow by engaging in a Play2Earn system.
We are building a one-stop shop where projects can meet their community needs while users can find a continuous stream of daily tasks from several projects without having to switch between websites or perhaps gleam campaigns. A platform where projects can leverage talent available on xHashtag to grow off-chain and on-chain activity while rewarding in their own $tokens, achieving smooth distribution of tokens and decentralization with high ROI.
Frumps | OIG: Wow, you personally have a very interesting and impressive history.
What an amazing concept you have! Could you summarize for our community the mission and vision of your project?
Monica | xHashtag (Will never DM first): Thank you Frumps😀
Of course. Our mission and vision are to develop xHashtag into a platform for a decentralized liquid workforce that is available to any entrepreneur on-demand without any commitments. The best-case scenario is where xHashtag uberizes all skillsets, including development, and is the go-to marketplace for getting any kind of work done. We also would want our users to have fun while they complete these tasks, and that’s where Play2Earn would come into play.
Frumps | OIG: Amazing, everyone wins! there are so many possibilities with this concept!
Can you tell us about the core team of xHashtag, what experience and qualifications do they bring that will help your project fulfil its mission and vision?
Monica | xHashtag (Will never DM first): Yes! I come from a core engineering background with expertise in blockchain and systems architecture. Apart from me, there are 10 members located across India, Singapore and the USA. 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 scalable products that can gain adoption.
Frumps | OIG: This is incredible! This is a large international team! With experienced members like this, your grand and ambitious vision isdefinitely possible.
Can you tell why xHashtag is needed? and give us some real life examples of who would use it and how it might work?
Monica | xHashtag (Will never DM first): Sure, let me give you some background that pushes us to build what we are building.
I’m from India, and people here in our country have access to high-speed data for a very cheap price. To give you an idea, a 4G connection costs only $1.5 a month. India is also one of those countries which have a large user base in crypto. Even though they have access to the latest technologies, average people here struggle to make their ends meet. Not just India, but it is true for many other countries like Nigeria, Venezuela, Indonesia and several other SouthEast Asian countries.
On the other hand, there is a massive growth in the number of crypto projects coming into the market, and all have one common need, and that’s the community. Community is the backbone for every project, and we are not talking about the number of twitter followers or telegram members which can be achieved by airdrops. It’s the daily engagement that counts, not just off-chain, but on-chain as well.
Therefore, we believe xHashtag is a platform where everybody wins, the projects as well as the users.
Frumps | OIG: I love the idea that your project empowers communities from all over the world and gives them the chance to earn no matter where they are from. You have cleverly matched the demand from the ever-growing number of projects with the needs of people, this is a recipe for success!
Tell us what role your token $XTAG is? What are its main purposes and benefits of it?
Monica | xHashtag (Will never DM first): Our token $XTAG is a utility token for DAO governance on our platform. The main utilities include governance of the DAO and the ability to receive more tasks when XTAG tokens are staked. $XTAG stakers can also review tasks submitted by other users and earn more.
Here’s a detailed article to know more about $XTAG token’s utility:
Please check it out
Frumps | OIG: Excellent, we definitely recommend our community take a look at this and learn more.
We read your excellent two-part series on how xHashtag can be leveraged to drive community and token value, can you summarise the main points for our community of this important use case of xHashtag?
Monica | xHashtag (Will never DM first): I hope you enjoyed reading it. We are basically incentivizing people to complete tasks on a daily basis, and these tasks can be on-chain as well as off-chain.
By repeatedly offering incentivized micro tasks to users, there is a good chance of converting such users into actual users of the platform through behavioural transformation. The more people use the product or services, the better they will be at using them. Eventually, users may not need any incentives to use the target platform. Additionally, we are also baking in a staking mechanism where users can stake a target project’s native tokens in order to receive higher rewards, leading to a buy pressure for those $tokens.
Frumps | OIG: This is very clever, the mechanics you had designed will drive demand!
Can you outline any key and exciting milestones we should know about coming up in your roadmap?
Monica | xHashtag (Will never DM first): Absolutely. We have already launched an MVP through which our community grew very rapidly, and we currently have over 100k members on our telegram and 96.3k on Twitter.
We are going to be giving away something special to everybody present in our community on Twitter & telegram when we hit 100k on Twitter!
We have already partnered with 3 projects and we will be revealing them shortly along with a beta version of our platform. This means our community will be constantly incentivized on a daily basis to spend some time on properties of partner projects.
Apart from that, we are structuring our architecture in such a way that while still building on Solana, we will be supporting transactions across BSC, Polygon, Avalanche and more. This means more rewards for our community, and we will be able to help with more projects.
Frumps | OIG: Wow, so many exciting things to digest there! You have a huge following! Anyone who has not yet joined from OIG should go now before you hit 100k on Twitter!
I am excited to find out which partners you have!
very exciting times ahead
Frumps | OIG: Well Monica, at this point I’d like to turn it over to our community questions on Twitter.
Monica | xHashtag (Will never DM first):
Community Twitter Questions:
Twitter Question 1)
Monica | xHashtag (Will never DM first): Future Of Work is a broad topic and the debate is still in progress, but my belief is that we won’t have to go to offices. location won’t matter anymore and time zones don’t matter either. This is why we are creating xHashtag, which is completely upgradable by the DAO, and will support any task, not just simple social media tasks.
There is a new type of jobs coming into the market, and we may not be able to predict it right now, but it’s coming, and our platform will support those jobs.
We will be gamifying the experience to make it more fun
Frumps | OIG: We have seen that location and its importance has reduced drastically due to the pandemic. There are many new types of jobs and ways of doing them popping up always and it sounds like xHashtag has the vision and flexibility to cater for them all, brilliant stuff
Monica | xHashtag (Will never DM first):Thanks Frumps
Twitter Question 2)
Monica | xHashtag (Will never DM first): We will be eliminating fake accounts via the DAO’s staked reviewer mechanism as well as other techniques such as binding social accounts with the wallet as well as CAPTCHA. We will be beta testing for some time and figure out all the tricks users play and address solutions accordingly. We will automate verifiable ones, and summon the XTAG Stakers from the DAO to verify the rest.
Frumps | OIG: This sounds very meticulous and will element that problem!
Twitter question 3)
Monica | xHashtag (Will never DM first): Yes, at xHashtag, we are launching Selena Liquid NFTs, a women-themed NFT where 70% of the raised amount is added as liquidity, and 30% goes to a DAO controlled fund which can be used to help women with grants on a case to case basis. The grants will be decided through the consensus of the Selena DAO, which is a consortium of high achieving women in the crypto space. Some of the members include:
Tamar (Ecosystem Growth, Solana)
Ling Zhang (ex-binance)
Sheryl (CropBytes CMO)
Priyanka (WazirX, Binance India)
Remya (Tegro Capital)
Vishakha (VP, Wazirx NFT)
Beryl (co-founder Yield Guild)
Priyanka (Chief Growth Officer, SyncDAO)
Kim Naree (CEO, Pixelverse)
Once the IDO is concluded, we will open minting for the Selena Liquid NFT collection.
Frumps | OIG: 😍 I love this idea and there are some incredible names you threw in there!
Well, Monica that about sums up our time here at OIG, xHashtag sounds incredible, a truly innovative game changer! Are there any final words you would like to leave with us and our community?
Monica | xHashtag (Will never DM first): Thank you Frumps for hosting the AMA today with OIG. OIG has been a great supporter for xHashtag and you guys are the best.
Our IDO is coming up on 23rd November on solrazr.com, followed by an exchange listing on gate.io on 25th. We will also be opening a liquidity mining program on exclusive Fusion pool on Raydium.
Stay tuned on our social media links to keep yourself updated on the latest news -> linktr.ee/xhashtag
Additionally, don’t miss our airdrop running at -> @xhashtagairdropbot
once you join our community @xhashtagio, everybody earns something by investing time, not money.
Frumps | OIG:
Awesome thank you so much, it has been our pleasure to hear about this incredible concept!! We are excited to follow along xHashtags journey and we are here to support the entire way! Guys go and join all their socials!
Well OIG thank you again for coming out here to join us for our AMA Series! We have another one coming today, so stay tuned and as always stay blessed!! ✨