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AMA Recap XProtocol!

AMA Recap XProtocol!

Hallooo genks! Buat kalian yang ketinggalan AMA XProtocol x Cryptoiz, Jangan lupa di baca ya!

Segment 1 

1. What is X Protocol Project ?

X Protocol is built in RUST language, featured with cross-chain bridge, privacy computing and data analysis pallets. It provides a decentralized, safe and fast bridging solution. Initially deployed on Polkadot, the preparations for the deployment on public chains such as Solana, Polygon, ETH, BSC, etc. have been completed and will proceed in an orderly manner.

X Protocol aims to build the first Metaverse + application portal on Polkadot and Solana, integrating source gameplay and land economic model, providing cost-efficient access to Metaverse for DApps on heterogeneous chains, sharing user group of X Protocol as well as enriching the X ecology.

2. I realize that the XProtocol team has experience in the metaverse +  application portal field. Can you go over a bit of that experience, and also maybe which country the team is based in?

Most of our team members have extensive experience in the blockchain industry. Just about a year ago, we thought that it could be fun to build our own chain with self-designed DApps, just like playing lego, instead of one thing that we have enabled the economic feature in this ‘universe’. Back then the concept of metaverse suddenly took off. It’s a beautiful coincidence to X Protocol, this wave of metaverse made X Protocol more accessible to the masses, more easy to understand.

About our team members, We have 22 members in total. And out of the 16 engineers, 7 are Rust coders. And we are a decentralized team with members mainly in HongKong, Singapore, and Canada.

3. On your whitepaper you explain the overview about X Metaverse, Can you explain it to our community ?

In the future, as the ecosystem matures, our ultimate vision is to build a complete metaverse. The metaverse is the source and ultimate solution of the Internet problem.

X Protocol builds protocol layer through the bidirectional token bridge of relay chain based on Web3.0 concept, new encryption technology MMR, Optimistic whistleblower system and SPV simple payment verification.

Based on the protocol layer, we also designed built-in infrastructure like X Cross Chain bridge, NFT marketplace, X Predict Market etc. Also we will invite DApps on heterogeneous chains to develop in X Metaverse by renting or bidding for lands, which is cost- effective. 

4. Can you tell us more about all the functions of X Application?

Take an example of our first testnet launched application X predict market, it is a decentralized cross chain prediction platform. The new fixed product market maker (FPMM) conducts automatic market maker. Users can get governance token POT rewards by creating predictions, participating in predictions, successfully predicting, and providing liquidity. Users can stake to be qualified as a governance node, to participate in community governance voting and other important events.

You can read more about it from here:

https://x-protocol.com/XProtocolWhitepaperEN.pdf

Also, pls feel free to follow the guidance and try out our DAPP =): 

https://x-protocol.gitbook.io/x-protocol/

5. How the Tokenomics?

$POT will be the only governance token for X Protocol in our X Metaverse. 

Ecosystem growth: 15% of the total circulation; For marketing, cooperation and Pr.Linear release after TGE every quarter within 3 years.

Team & Advisor: 10% of the total circulation. Reserved for team and advisor as incentive.6 months lockup after CEX listing, then monthly release within 36 months.

Liquidity Pool: 15% of the total circulation. Liquidity for uniswap and other exchanges.Quarterly release on CEX listing, 3 year linear unlock.

Pool reserved for Yield-Farming: 35% of the total circulation. For network incentive after the main-net launch.

Fundraising: 25% of the total circulation. Support the initial development of the project.Release according to investment term.

Segment 2

1 @huyenthuvu7549   https://twitter.com/huyenthuvu7549/status/1457907537991200776

Q : Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can you share some of the partnerships you have formed with existing blockchain foundations recently??

Collaboration and partnerships are one of the cornerstones to making DeFi more widespread. Can you share some of the partnerships you have formed with existing blockchain foundations recently??

Of course,Here are some of the collaborations with other projects.

Peri Finance

Crust Network

Black Ocean

ParamiProtocol

Also We have received investment from 

HuobiVentures

OKEx ventures

Gate.io

There will be kickstarter and IEO activities with both Gate.io and MEXC 

Please refer to the details below

MEXC  Kickstarter 03:00 Nov 10 – 10:50 Nov 10 (UTC) | Est. trading: 13:00 Nov 10 (UTC)

Gate.io   IEO Time: Nov 9th – Nov 10th, 10:00 (UTC)

Our listing is confirmed on 10.Nov 2021, 13:00 UTC time on Gate.io and MEXC 

2 @paklatifsusanto  https://twitter.com/paklatifsusanto/status/1457724473105215492

Q: One of the core features of X protocol is its NFTs. But I couldn’t find anything about them in your website. So do you have a NFT marketplace of your own? Will it be open for all? Can users create, trade and stake NFTs in your platform? How do you plan to compete against others?

One of the core features of X protocol is its NFTs. But I couldn’t find anything about them in your website. So do you have a NFT marketplace of your own? Will it be open for all? Can users create, trade and stake NFTs in your platform? How do you plan to compete against others?

Actually the NFT is introduced in the white paper, https://www.x-protocol.com/XProtocolWhitepaperEN.pdf section 4.3.

Well, we will have our own NFT marketplace in our metaverse. Yes, it will be open for all users. Users can create, trade on our NFT marketplace. Regarding the stake part, I am happy you mentioned it, as we are still discussing this feature. If we see more users need this feature, we will be more likely to build the staking features. To compete with others, we are seeking the famous game KOL, NFT artist, to join us to co-issue NFTs. We will announce big news very soon.

3 @Fernando50921 https://twitter.com/Fernando50921/status/1457908080885186561

Q : Regulation is very important. Many projects were closed in many countries due to failure to use the correct regulations and permits. In order to go global how does XProtocol team deal with these issues?

Regulation is very important. Many projects were closed in many countries due to failure to use the correct regulations and permits. In order to go global how does XProtocol team deal with these issues? 

As a community driven community, X Protocol aims to build a diversified and globalized community, we have built communities for different language speaking users. And all information will be translated and synchronized in different channels, making more users learn about X Protocol in a convenient way.

In the future, X Metaverse will have AMA, Airdrop building as well as Assembly hall, all of these functions are programmed on-chain so that it is not limited to regulations and permits made by specific authority. The governance is determined by community voting, which demonstrates the spirit of DAO.

4 @ans_projeck  https://twitter.com/ans_projeck/status/1457738067662422017 

Q: Protocol x decided to build a metaverse with blockchain technology as the underlying protocol. Thus, the metaverse of Protocol X was created. Why did Protocol X decide to build a metaverse with blockchain technology as the underlying protocol? What benefits will this have?

Protocol x decided to build a metaverse with blockchain technology as the underlying protocol. Thus, the metaverse of Protocol X was created. Why did Protocol X decide to build a metaverse with blockchain technology as the underlying protocol? What benefits will this have?

The metaverse is an immersive virtual world close to reality and an open network world of the future. This straddling of the physical and digital worlds naturally lends itself to blockchain technology. Because digital objects, content and intellectual property can flow through the metaverse, blockchain technology can be used not only for user data, but also to allow users and companies to create content and goods, which in turn can flourish. More importantly, blockchain technology can also create a fully functioning economic system in the metaverse that is connected to the real world.

Therefore, we decided to create a metaverse with blockchain technology as the base protocol, and the X Metaverse was born.

People can benefit from the DID system and economic model to achieve the freedom of self-defined finance.

5 @AkihisaMori45   https://twitter.com/AkihisaMori45/status/1457910669127290889 

Q: We all know that security is really important and valued by users these days. What security measures does XProtocol take for its investors? How do you prefer to protect against hacking and do you have insurance for investors?

We all know that security is really important and valued by users these days. What security measures does XProtocol take for its investors?  How do you prefer to protect against hacking and do you have insurance for investors? 

Apart from the ongoing audit report, We have previously launched a SRC hack challenge where white-hat are invited to find bugs about X Protocol network. 10,000 USDT were offered as the winning prize, but no one actually found anything that qualified as a threat. https://twitter.com/X_Protocol_/status/1425399328605032449

X Protocol will Actively take countermeasures to hackers.

Segment 3

  1. @Karoceh

You mentioned about Optimistic whistleblower system. What is this about? And why does X protocol need to build it?

It ensures that the chain relayer submits the correct data, and the nodes who do evil will be detected by OWS and be punished. It ensures the stability and correctness of the network

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