This technical founder tells us why she selected to construct a play-to-earn DAO on Solana

CryptoSlate not too long ago 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 initiatives 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 workforce.

What’s the skilled background of the xHashtag founders and what’s their earlier expertise in crypto or DeFi?

Howdy. 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 change on 0x protocol (first steady coin dex at the moment) for which our workforce has additionally obtained a grant from them. Later, I additionally received publicity in constructing a crypto derivatives centralized change.

My current expertise has been with Router Protocol and Dfyn Community the place I used to be their Chief Technical Architect in addition to the founding member of the workforce 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 group expertise to speed up group progress by rewarding precious actions in their very own $tokens with elective vesting to stability promote strain.

As I began constructing and researching numerous use instances of blockchain expertise, I noticed that all of it boils right down to the group. Blockchain expertise as we all know it right now is democratized and constructing nice merchandise is just not tough, however getting customers is probably the most tough problem that’s confronted by any blockchain challenge, the truth is, any product on the earth.

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 answer for each initiatives and customers. 

How many individuals are engaged on xHashtag and the place is the workforce positioned?

The xHashtag workforce at the moment has 10 members positioned 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 workforce has equally good expertise in constructing merchandise in blockchain expertise.

What applied sciences have been used to construct the xHashtag platform and why did the workforce 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 pace in addition to developer exercise, and our product is effectively suited to initiatives within the early phases, that are a lot on Solana.

Moreover, Solana’s low transaction charge makes it effectively suited to micro-transactions like we have to make on our platform, nevertheless, 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 have now struck partnerships with a couple of recognized initiatives (but to be introduced) and several other notable influencers like TheMoonCarl, CryptoBanter, Evan Luthra and extra.

We’re coming into a long-term partnership with our IDO companion, SolRazr, a premium launchpad on Solana, as we might be capable of cater to the group progress wants of initiatives within the pre-IDO section. We will probably be making extra bulletins within the coming weeks with the beta launch of our platform.

Which sorts of crypto customers would profit from utilizing the xHashtag platform?

We have now 3 consumer teams on xHashtag — the Web3 initiatives (Marketing campaign Creators) and customers (Marketing campaign Contributors) and Reviewers (Marketing campaign Reviewers).

  • Web3 Tasks which might be in pre-IDO section/ IDO/ post-IDO would be capable of easily launch their group 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 easy token distribution.
  • Customers who can be the marketing campaign members and can be capable of flick through these campaigns on our platform with out having to change tabs /gleam campaigns and might earn crypto rewards by finishing these on-chain/off-chain duties.
  • Reviewers are the $XTAG stakeholders who might evaluation the duties made by different customers on the platform and earn $XTAG tokens in rewards.

What’s the greatest ache level on the earth of Play-2-Earn? 

The most important ache level can be to maintain the financial system steady and balanced. We’ve solved it by designing a steady financial system the place the rewards usually are not depending on inflation of our token (XTAG), however is coming from our consumer initiatives (in their very own $tokens), in change 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 subsequent few years? What would be the main milestones?

xHashtag is being designed as a DAO for Future Of Work. The Future Of Work continues 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 sorts of jobs incoming that we in all probability can’t think about proper now, and such jobs would require a brand new kind of market, and we’re constructing decentralized infrastructure for it proper now. We’re beginning with easy duties, however our DAO can accommodate any kind of duties so long as there are eligible reviewers for a similar! 

We anticipate to assist at the least 1000 initiatives within the subsequent 3 years, and xHashtag might in all probability turn out to be a vacation spot to earn full-time earnings for lots of people and a platform with decentralized liquid workforce that’s out there 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 finances. Additionally, a charge of two%  will probably be charged when the marketing campaign is initiated.

This charge will probably be transformed to XTAG and is distributed 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 concerning the milestones already achieved and the longer term roadmap?

We have now not too long ago launched our MVP and our group 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 develop our incentivization program to assist on-chain participation and share the identical expertise with different initiatives within the crypto area in order that they are often benefited, and customers obtain a steady stream of duties and rewards.

We have now raised $2.6 Million throughout two rounds by way of nice backers, and our IDO is developing on twenty sixth November 2021 on SolRazr, adopted by an change itemizing on twenty ninth.

We have now already partnered with 3 initiatives and we will probably be revealing them shortly whereas we Beta model of our platform. This implies our group will probably be continually incentivized every day to spend a while on properties of companion initiatives. 

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

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

One of the best ways to study xHashtag can be by way of our web site and our official social hyperlinks:

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