KuCoin AMA With xHashtag DAO (XTAG) — A 360-Degree Web3 Accelerator

2022/02/14 08:46:49

Dear KuCoin Users,

Time: February 11, 2022, 11:00-11:59 (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with xHashtag Founder and CEO Monica Durga in the KuCoin Exchange Group.

Project Introduction

xHashtag is a 360-degree DAO Accelerator that helps Web3 projects build community, liquidity, and treasury. Participants enjoy high APY by simply building liquidity and treasury for the DAO. xHashtag's unique on-chain and off-chain marketing tools help DAOs automate incentivized promotions using native tokens, thus achieving token distribution and user growth.

Official Website: https://xhashtag.io

White Paper: https://docs.xhashtag.io

Follow xHashtag on Twitter and Telegram.


Monica Durga — Founder and CEO of xHashtag

Monica Durga has been developing Web3 technologies since 2017 and has experience in building CEX and DEX. She's the former Chief Technical Architect of Router Protocol and a founding member of Dfyn.network.

Q&A from KuCoin

Q: What is xHashtag about and what problems does it aim to solve?

Monica: Sure, xHashtag is a 360° Web3 Incubator, Launchpad and Accelerator that focuses on the following aspects:

1. Community Boosting through targeted, incentivized campaigns

2. Launchpad, bootstrapping necessary liquidity and treasury

3. Discounted bond sales for existing protocols to purchase and own their liquidity.

Our vision is to provide 360-degree support to Web3 protocols. With xHashtag Community Acceleration, protocols can bootstrap their community and gather ambassadors at a scale and build long-term, highly engaged, collaborative communities. Protocols can also launch fairly so that everyone can participate on equal footing. We have created a fundamentally disruptive way to engage with protocols that protect and encourage both sides of the market: founders and users.

Q: You have recently launched your testnet. Can you tell us more about it?

Monica: Yes, we recently launched our testnet where we demonstrated discounted bonds and the single asset staking vault mechanisms, which can be used by newly launched projects to create instant utility for their tokens which would be more welcoming to the users as they won’t be facing any impermanent loss.

Q: What are your plans for the upcoming mainnet launch?

Monica: Our mainnet will be live very soon, providing Single Asset Vaults with attractive APR and discounted bond sales.

While testnet is currently live on Avalanche Fuji Test Network, you can expect the mainnet to be released on both Avalanche and Solana. Any existing project can also use these features.

Q: What other networks are you building your project around?

Monica: We started as a Solana native project, and now as part of our multichain expansion plan, we are building on Avalanche and soon will be expanding to other EVM chains:)

Q: What exactly is community bootstrapping in xHashtag terms?

Monica: Sure. Community and fans are essential for any business – and crypto is no different.

Having loyal followers and an ideal crypto community that is highly engaged can help boost the reputation of crypto projects. As your project ambassadors, fans bring in more people, thus improving the adoption of your product/service.

We currently have a significant amount of social presence with over 150k followers on Twitter and 140k members on Telegram, and since launch, we’ve bootstrapped communities of over 5 projects. The campaigns were largely successful and we were able to boost the community growth by over 3,000%.

Q: How is your Launchpad different from the ones already out there?

Monica: xHashtag is a fair & high APY launchpad. Our vision is to create an open and transparent way to bring crypto projects to the market in a more economically symbiotic and sustainable way.

In contrast to existing VC-funded protocols where a small number of large private investors own the majority of the initial supply who are incentivized to take profit at launch, projects on xHashtag will depend on the community to come together and bootstrap liquidity and make price discovery without any external token holders.

We also provide immediate utility to the new tokens through single asset staking with no impermanent loss, which is beneficial for users.

The launched projects will also benefit from xHashtag’s community growth and engagement solutions not just before the launch, but after launch as well, where our community will constantly help the projects grow by being their ambassadors.

Q: Can you tell us something about your native token $XTAG and its use cases?

Monica: Our token $XTAG is a governance token and has the following utilities:

1. Launchpad: The community will decide which project should be launched on our platform, and XTAG is used for voting. The voters also get an allocation in the pre-sale, proceeds of which are used to bootstrap the liquidity for the token.

2. Community Accelerator: The projects that launch on xHashtag will be able to tap into the xHashtag community through campaigns for incentivized on-chain and off-chain actions that will drive engagement to the project’s on-chain product and off-chain social spaces. These offers can be quite lucrative, and $XTAG holders will be prioritized for eligibility to those campaigns.

To share an example, in our recent community accelerator campaign that we launched, XTAG token holders had a 100% chance of winning from the reward pool.

Q: How can your fans stay in touch about the latest developments at xHashtag?

Monica: Yes! We are quite social and active on our handles: http://linktr.ee/xhashtag

We are constantly creating rewarding opportunities and can’t wait to share the reward pool with you.

Free-Ask from KuCoin Community

Q: What are your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?

Monica: 1) Be the go-to community accelerator for web3 projects

2) Help projects to own their liquidity through our discounted bond marketplace

3) Expand into the most happening blockchain networks

4) Grow into a truly community governed protocol

Q: I want to support your project. Tell us more about the Ambassador Program and in what ways we can participate?

Monica: xHashtag is an incentivized community accelerator. Where in which we allow projects to tap into our community and get on-chain and off-chain actions completed for a reward in their own token. In our upcoming rollout of the community accelerator, we are also enabling threshold-based reward payout, thereby allowing projects to run ambassador programs at scale without any management overhead and handle payouts automatically to the eligible ambassadors. You can subscribe to our announcement channel to stay updated on the stream of earning opportunities.

Q: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?

Monica: We will be activating our governance portal for XTAG holders very soon where the community can make a decision on subjects such as

> Projects launching on our launchpad

> Projects wanting to launch community acceleration campaigns

> Any features that relates to protocol development

> Any decisions regarding the protocol itself

Q: Do users need to do KYC to complete a range of on-chain and off-chain activities on xHashtag? What are the daily tasks?

Monica: No, it’s not required. There could be exceptional cases where the partner project might want only KYC verified participants to join. Otherwise, it’s mostly open for all.

Q: What are the benefits of XTAG for its holders on KuCoin? Is there any staking program and plan for the burning of tokens in the future?

Monica: Of course, our recent single asset staking program on Kucoin Earn has just concluded. Please expect more interesting campaigns on Kucoin in the near future. Stay updated with us on our social handles: Telegram group and Telegram channel.

Giveaway Section

KuCoin and xHashtag have prepared a total of 4,000 XTAG to give away to AMA participants.

1. Free-ask section: 150 XTAG

2. AMA activity: 3,850 XTAG

Activity 1 — Quiz: 3,000 XTAG

Activity 2 — Price Guess: 600 XTAG

Participation Rewards: 250 XTAG

. . .

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