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This technical founder tells us why she chose to build a play-to-earn DAO on Solana

2021-11-22
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This technical founder tells us why she chose to build a play-to-earn DAO on Solana
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Crypto just lately had the chance to talk 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 crew.

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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 trade on 0x protocol (first secure coin dex at the moment) for which our crew has additionally obtained a grant from them. Later, I additionally bought publicity in constructing a crypto derivatives centralized trade.

My current expertise has been with Router Protocol and Dfyn Network the place I used to be their Chief Technical Architect in addition to the founding member of the crew 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 neighborhood expertise to speed up neighborhood development by rewarding helpful actions in their very own $tokens with non-compulsory vesting to stability promote stress.

As I began constructing and researching numerous use circumstances of blockchain expertise, I spotted that all of it boils all the way down to the neighborhood. Blockchain expertise as we all know it at present is democratized and constructing nice merchandise isn’t tough, however getting customers is probably the most tough problem that’s confronted by any blockchain venture, in reality, any product on the planet.

On the similar 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 crew situated?

The xHashtag crew at the moment has 10 members situated throughout India, Singapore and the US. Our product lead is ex-US Air Drive personnel with over 10 years of expertise in constructing precision software program, whereas our advertising head co-founded Trendrr, a platform that was taken over by Twitter.

Our technical crew has equally good expertise in constructing merchandise in blockchain expertise.

What applied sciences had been used to construct the xHashtag platform and why did the crew 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 properly suited to tasks within the early levels, that are loads on Solana.

Moreover, Solana’s low transaction charge makes it properly suited to micro-transactions like we have to make on our platform, nonetheless, 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’ve got struck partnerships with just a few identified tasks (but to be introduced) and several other notable influencers like TheMoonCarl, CryptoBanter, Evan Luthra and extra.

We’re getting into a long-term partnership with our IDO accomplice, SolRazr, a premium launchpad on Solana, as we might have the ability to cater to the neighborhood development wants of tasks within the pre-IDO part. We shall 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’ve got 3 consumer teams on xHashtag — the Web3 tasks (Marketing campaign Creators) and customers (Marketing campaign Contributors) and Reviewers (Marketing campaign Reviewers).

  • Web3 Tasks which are in pre-IDO part/ IDO/ post-IDO would have the ability to easily launch their neighborhood campaigns and fund them on the blockchain in a decentralized and trustless method. xHashtag presents them a approach to successfully market their product and likewise assist them obtain clean token distribution.
  • Customers who could be the marketing campaign individuals and can have the ability to flick through these campaigns on our platform with out having to modify tabs /gleam campaigns and may earn crypto rewards by finishing these on-chain/off-chain duties.
  • Reviewers are the $XTAG stakeholders who may evaluation the duties made by different customers on the platform and earn $XTAG tokens in rewards.

What’s the largest ache level on the planet of Play-2-Earn? 

The most important ache level could be to maintain the financial system secure and balanced. We’ve solved it by designing a secure financial system the place the rewards should not depending on inflation of our token (XTAG), however is coming from our shopper tasks (in their very own $tokens), in trade 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 imagine 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 most likely can not think about proper now, and such jobs would require a brand new sort of market, and we’re constructing decentralized infrastructure for it proper now. We’re beginning with easy duties, however our DAO can accommodate any sort of duties so long as there are eligible reviewers for a similar! 

We anticipate to assist at the least 1000 tasks within the subsequent 3 years, and xHashtag may most likely turn 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, Job Eligibility Prioritization, and Reviewer Standing Upgrades. The perfect half about xHashtag is that customers can earn cash with zero funding.

Nonetheless, in the event that they wish to earn extra, they will stake $XTAG and obtain duties on precedence earlier than the marketing campaign runs out of funds. Additionally, a charge of two%  shall be charged when the marketing campaign is initiated.

This charge shall be transformed to XTAG and is shipped to the DAO treasury and can both be used for additional growth or burnt, a choice taken by the DAO.

What are you able to inform us in regards to the milestones already achieved and the long run roadmap?

We’ve got just lately launched our MVP and our neighborhood 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 area in order that they are often benefited, and customers obtain a steady stream of duties and rewards.

We’ve got raised $2.6 Million throughout two rounds by nice backers, and our IDO is arising on twenty sixth November 2021 on SolRazr, adopted by an trade itemizing on twenty ninth.

We’ve got already partnered with 3 tasks and we shall be revealing them shortly whereas we Beta model of our platform. This implies our neighborhood shall be continually incentivized each day to spend a while on properties of accomplice tasks. 

Other than that, we’re structuring our structure in such a approach that whereas nonetheless constructing on Solana, we shall be supporting transactions throughout BSC, Polygon, Avalanche, Polkadot and extra. This implies extra rewards for our neighborhood, and we can assist extra tasks.

What’s one of the simplest ways for these to study extra about xHashtag?

One of the best ways to find out about xHashtag could be by our web site www.xhashtag.io and our official social hyperlinks:

Join with Monica Durga

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