XIO launched as a centralized platform in December of 2019 and will gradually transition to a 100% decentralized protocol over the next years. To accomplish this, all major decisions of the protocol will be voted on and decided by XIO token holders (Citizens).
1) How does crowdstaking actually work?
2) What will impact the supply/demand of the XIO token?
3) What are the four next developments on the horizon? More
On Febuary 15th, XIO will transition into Phase 2.0 of building a decentralized and automated staking application. On this date, Phase 1.0 portals will be closed and front-end Private Beta testing will begin.
Three announcements and updates to look forward to in the next 3 weeks. 1) Private Beta Testing Begins for the XIO Dapp Going to invite and pay Citizens for feedback. So excited to get some automation going. 2) XIO Liquidity Pool Update. Going to be adding some of our additional funds to the pool, give update […] More
XIO is an alternative crowdfunding and growth system for early-stage blockchain startups.
In 2017, over $10B was invested in and lost to early-stage blockchain startups through the form of Initial Co…
There are two ways Credits turn into XIO Tokens. First, each Credit you attain will earn you 1 XIO. Second, if you manage to reach the XSI Leaderboard, you will receive a Multiplier on your Total XIO Holdings.
Finishing in the Top 10, the amount of XIO Tokens in your wallet will earn 10% interest! Finish in the Top 25, your wallet will earn 5% interest. Finish in the Top 100, your wallet will earn 2.5% interest. Tokens must have been held for 30 days to be eligible for Multiplier.
The startup with the most amount of votes from XIO Citizens (polls open December 6th, more details in follow up article) will be accepted into the Incubator.
Based on recent events with the Binance DEX Listing Application and future development opportunities, the XIO Foundation will remain on the Ethereum blockchain for 2019.
One item we have gained the most clarity and commitment towards in the last month is turning XIO into an interest/lending token.
In simple terms, XIO cannot be a 100% decentralized incubator without the option to earn interest on the token. This moves our incentive and governance model from an external circuit (interest is paid by the foundation) to an internal circuit (interest is paid by borrowers).
Since the current DeFi options (Compound Finance, Dharma, etc) sit natively on Ethereum, we estimate remaining on the Ethereum Blockchain could expedite our development roadmap by 6–12 months and allow us to recruit developers at a faster pace.
The proposed solution is similar to how Bitcoin and other proof of work blockchains distribute their coins. However, instead of using computational power and electricity cost as your “work”, you stake alternative assets to show your faith/commitment/support of a project.
Proportional to your stake (just like mining is proportional), you’re rewarded in native tokens.
Do you think this proof of stake token distribution model is feasible? Is it more fair than the current system or can I be gamed just as easy? Do you know of any projects who have done this?