Do you have what it takes to think of the next viral token idea?
We are giving away $5000 to XIO Citizens who help come up with unique, innovative, and unorthodox token ideas. Each participant will submit their “Token Idea” to the XIO Social Forum for entry.
After submitting, eight members of the XIO Foundation will vote on which ideas are best. The Top Four token ideas (possibly eight, depending on the quality of entries) will earn entrance into the official Token Idea Tournament starting December 13th. There will then be a Two Round Tournament (possibly Three Round) bracket to see who comes out on top.
Round One: 1 vs. 4 Seed
Round One: 2 vs. 3 Seed
Round Two: Winners of Round One
XIO Citizens will then use their tokens on our official Snapshot Page to vote which Token Idea they like more. The person who wins 1st place will receive $3000 + be included in the official XIO Token Reveal on December 22nd for a chance to be one of the tokens we launch in 2021.
1st Place = $3000
2nd Place = $1500
3rd + 4th Place = $250
Applications start December 8th.
Deadline is December 12th.
Voting begins December 13th.
Winner announced December 22nd.
Uniqueness – Is this idea creative and new or has it been done before? The more unique and original, the higher the score.
Clarity – Is your proposal clear and easy to follow? From beginning to end, is it structured in a cohesive manner? The more clear, the higher the score.
Feasibility – While we love great ideas, we need to know what you’re presenting on is feasible. Any supporting statements that can help articulate the feasibilty of your idea, the higher the score.
Passion – Ideas are cool, but are you passionate about what you’re presenting? Submitting your idea with a video of you introducing yourself, explaining the idea, and painting the vision is incredibly powerful.
Impact – Is your idea solving a real problem in the industry? If we build it, will it positively impact the industry? How? The better you explain this, the higher the score.
Simplicity – The less complex the better. An idea doesn’t need to have a massive system to be efficient. Let’s start simple, and go from there.
There will be eight individuals from the XIO Foundation that will give each of the above criteria a score from 0 to 3. The total score will be tallied and divided by six to give your token an XIO Token Score. These are the individuals who will be judging the tokens.
Today, the XIO Foundation is submitting our official mainnet launch proposal to the community:
Use $FLASH as the fundamental flashstaking token while elevating $XIO to be the primary staking, community, and token studio asset of the network.
The remainder of this proposal will outline a brief history of XIO, why we believe the future of flashstaking is $FLASH, what the proposed tokenomics are, and how the $XIO token would fuel crypto’s first ever token studio.
Since day one, the core mission of XIO has been the same: Launch ideas into the decentralized world.
As time passed and as we continued to listen to our community, the path to achieving this mission has become an adventurous road of exploration and experimentation.
Era One | The Incubator
The first concept to achieve our mission was to create an incubator for blockchain startups. We envisioned a model similar to that of YCombinator. Crypto projects would bring their ideas to us and we would provide them with the community, resources, and capital to grow.
Our first pilot of this incubator model was incredibly well received as over 2,000,000 XIO tokens and 1000 XIO Citizens joined in on the incubator. Although we received over 75 startup applications to the XIO Incubator, we kept coming to the same realizations. The model couldn’t scale. It needed to be automated.
As we began tinkering with ways to automate the XIO Incubator, several internal development breakthroughs began to happen. One concept in particular caught the imagination of our community and thousands of new individuals around the industry: flashstaking
Era Two | The Flashstaking Protocol
Similar to flashloans where anyone can borrow any amount of capital as long as they pay it back within one ethereum transaction, flashstaking works in a similar way. However, instead of borrowing money, you stake capital for a predetermined amount of time and earn the entire reward.
Instant, upfront, all in one ethereum transaction.
When your stake duration is completed, you can unstake and retain 100% of your original capital. We believe this innovation can be a crucial building block that provides startups with the needed resources to get off the ground.
$FLASH to the Future
So why use $FLASH as the flashstaking token and not $XIO? This is a very fair question and one we have not taken lightly during our research. We have identified eight primary benefits to using $FLASH as the flashstaking token while reserving $XIO to be the primary staking, startup, and token distribution mechanism of the network.
1 | Value Independence
Startups are hard. Most of them fail. Especially when you’re trying to do something that has never been done before.
To us, XIO is more than flashstaking. XIO is a community, and one we have put an endless amount of energy into building. Over the last year, we have slowly connected and collaborated with some of the highest quality crypto connoisseurs from all around the world.
As flashstaking was born directly out of the minds of our Citizens, it showed the power of crowdsourcing ideas at scale. We believe our community will be the inspiration of many more ideas to come.
Using $FLASH the primary flashstaking token allows us to separate the value proposition for $XIO to be independent of the success or failure of an experimental protocol.
2 | Simplified Token Architecture
As we began building out the flashstaking features, the entire architecture began to get extremely complex and strayed away from what we value most: simplicity. With each new problem we wanted to fix, the XIO flashstaking protocol began to get clunky and vulnerable to feature creep.
Creating a flashstaking specific token allows us to extrapolate the complexities of the protocol and let it focus on doing one thing better than anyone else: flashstaking.
3 | Expedite Development Timeline
While new protocols are always under attack from potential hackers, rarely does a new protocol launch with $2M+ behind it.
Given the new protocol is experimenting with a never before built technology and an internal mint/burn functionality, it became clear that the $2M+ XIO Liquidity Pool (XLP) would be given an extraordinary amount of attention from bad actors on day one.
To protect the protocol while getting to market with flashstaking before anyone else, we felt using $FLASH as the original flashstaking token would expedite the launch to mainnet and help provide additional security/peace of mind to the members of the XLP.
4 | Mainstream Branding
Although many Citizens have become extremely integrated and comfortable with the XIO brand, the naming does not have much inherent connection to flashstaking.
We believe to dominate the flashstaking market, we need to be first of mind and first to rank on google when people search for us. For this reason, $FLASH allows us to immediately resonate and connect with new/future token holders while increasing our chances to optimize SEO and rank on google for decades to come.
To jumpstart the creative process, we have developed two conceptual branding designs for $FLASH.
5 | Defensibility + Composability
Much like when we created the world’s first deflationary currency, we expect and anticipate many people to copy our token design. Rather than fighting it, we have created $FLASH in a way that any other flashstaking concepts or ideas can build on it.
With the $FLASH token design, anyone who believes they can create a better flashstaking mechanism can plug their smart contract logic into our protocol. For example, the very complex “v3” token architecture and blackpaper design we previously released now sits on top of the $FLASH protocol instead of inside it.
Similar to the YFI model, if people choose to use an externally created smart contract design, the creator of this smart contract can take a fee when people use their design.
This moves $FLASH away from competing with others projects to providing the core protocol for inspired individuals to build on.
6 | Four Times the Ownership
With XIO, there are several programs needed to sustain the day-to-day operations and growth of the Network. With $FLASH, however, the reserve funds we control as the Foundation (XLP, XFO, XSI) and Founders will not claim any $FLASH.
This means there will likely be less than 25M $FLASH, giving Citizens 4x the amount of ownership.
7 | Aligned Incentives with Founders
Rather than reserving any tokens for the team, the only way for the Foundation to earn any $FLASH is through the staking activity of the protocol. When any person stakes $FLASH, a portion of the stake will be “matched” and sent to a wallet controlled by the XIO Foundation.
We believe this model 100% aligns the incentives, motivations, and economic opportunities of the Citizens and the creators. We don’t succeed unless the protocol does.
8 | Flashminting
While flashstaking allows you to earn instant upfront yield on your crypto, flashminting allows you to mint an infinite amount of $FLASH as long as you burn an equal amount in the same ethereum block transaction.
Using $FLASH as the primary flashstaking token gave us the safest, fastest, and easiest transition for the protocol.
Instead of migrating your XIO, we are proposing a flashshot taken on December 31st of all existing XIO holders. Based on how much a Citizen has in their wallet, they will be able to redeem an equal amount of $FLASH at a 1:1 ratio.
Mainnet Token| $FLASH
Flashshot Date| December 31st
Dapp Launch| January 1st
Liquidity Mining| January 1st
XIO:FLASH Claim Ratio| 1:1
Initial Liquidity Pool| $100,000
Initial Price| Same as $XIO
Estimated Token Supply| < 25M
If you have funds in the XLP, you do not need to move these. In fact, if you keep your tokens in the XLP, you will automatically begin liquidity mining the next token that comes through the token studio starting January 1st.
The snapshot will take into consideration how many XIO are in your UNI-v2 token at the time of the snapshot. A follow up article will be released with a step-by-step walkthrough on how to claim your $FLASH. What we can tell you is it will be as easy as the $UNI claim system was. One click claims!
While we have intentionally never requested listing on a centralized exchange, it is possible you may have tokens on a centralized wallet like Hotbit or ParJar. The most important thing to know right now is you need to get your $XIO off any centralized exchanges. Only wallets with $XIO at the time of snapshot will be able to claim XIO. If you don’t control your wallet, you can’t claim $FLASH.
The Future of $XIO: Token Studio
Over the last year, we have built one of the highest quality, most engaged, and extremely curious communities in crypto. We continue to rediscover how many people in the industry are as fascinated as we were to explore new concepts and token architectures.
At the core of XIO, we like to explore. We like to try and do things that have never been done before. We love building things that other people don’t think to be possible. We love showing the world new visions of reality.
This is what gets us out of bed in the morning. It is in our DNA.
In addition to the upcoming release of $FLASH, the last few months of recruiting new team members and building out the protocol has shown us how much overwhelming opportunity there is in this extremely early industry.
Endless problems to be solved. Infinite ideas to be explored. Massive markets to be dominated.
In a progressive movement to put the community first, incentivize a natural state of curiosity, and encourage a culture of experimentation, $XIO will remain the primary token of the XIO Network and fuel blockchain’s first ever token studio.
What is a Token Studio?
From logo to launch, our mission is to explore and build experimental tokens with our community. For providing feedback, liquidity and marketing support – we give 100% of any tokens we develop away to the XIO Citizens who help bring them to life.
In short, this means if you hold $XIO, you will receive 100% of all future tokens we develop through the XIO Network. A list of the current tokens we are exploring will be listed later.
Incubator vs. Token Studio
As opposed to a traditional incubator model where the creative process and idea stage is outsourced to existing startup, the token studio allows us to build and launch projects from within our own community. Instead of only earning a small portion from a startup, we retain 100% of the tokens and give them away to our Citizens.
One of the reasons it has taken us a year to build XIO is the unforgiving nature of immutable code and fear of failure. The token studio model allows us to explore and iterate on new ideas at an exponentially faster pace than before. To help us accomplish our mission, we follow this four step process.
Step One: Explore.
Is this an idea worth exploring? Does it give us goosebumps to think about? Has anyone done this before or are we just reinventing the wheel? Does this have the chance to make an impact on the world? If no, we don’t explore it. If yes, we start building immediately.
Step Two: Build.
If we believe the idea is worth exploring, our first step is to build a Minimal Viable Token. In other words, what is the simplest token architecture and application we can build to test the viability of the idea? XIO is built on rapid prototyping and interaction. If it takes more than three months, we don’t build it.
Step Three: Launch.
After we explore the idea and we build the MVT, we need to launch it and test the demand for the solution. On launch day, we create a $50,000+ liquidity pool using $XIO/$ALT and give the newly created tokens away for free to our XIO Citizens.
Step Four: Scale.
If there is clear evidence that the product has no interest, we stop building entirely. If there is, however, evidence that the idea is gaining interest from the community, we recruit and compensate a token founder to lead the project further.
More information on our Token Founder Program below.
Token Studio Nominees
While $FLASH is the first token we are going to release through the token studio, we have several experimental tokens in our pipeline set to be distributed exclusively to $XIO holders.
Here are just a few of the current token models and ideas in the Explore stage of the token studio that are set to be released in the coming months.
All of these names and logos are yet to be decided. To join us in the discussion on which token to launch first and how to brand it, join us here in the XSI Forum.
The future is at stake.
$XIO is the primary token of the XIO Network. All future tokens developed by the token studio are distributed directly to $XIO holders.
On the day that $FLASH is released, we will announce the next token to come out of the XIO token studio. Immediately, Citizens will be able to stake their XIO + XLP assets and begin earning rights to the next token.
For the following months after $FLASH is launched, we will observe the interest from the market and provide the necessary liquidity, development, and marketing as needed.
Token Founders Program
Zachary Dash, the founder of XIO, is not a developer by trade. We believe there are endless amounts of smart, passionate, and talented Citizens in our community who may not be programmers, but have the ability and lead crypto projects.
To help us scale multiple projects into existence at the same time, we need to scale our talent of founders. The Token Founders Program is an initiative to find and appoint talented Citizens from our community to lead projects of their own.
If appointed, creative and strategic decision making will be given to the chosen founder.
To get involved with the conversation and help us make important decisions before launch, please join the XSI Forum and provide feedback. We are looking for SWOT analysis (strengths, weaknesses, opportunities, and threats) of the given $FLASH launch proposal.
For anyone uncertain of our commitment or focus to the XIO token, we would like to remind our Citizens that the entire operational ability of the Foundation and economic activity for our founders is still 100% in the $XIO token itself.
Without $XIO and without the $2M+ liquidity pool, future development will not be possible. Maintaining this asset in a sustainable manner is our priority above anything else.
$XIO is and will always be the primary token of the XIO Network.
We are a community of entrepreneurs, innovators, and problem solvers from all over the world.
We build and launch experimental tokens and protocols into the decentralized world.
We believe innovation is born out of the consistent collaboration of positive people from all over the world.
We believe opportunity is discovered through the rapid experimentation and exploration of unorthodox ideas.
We believe in building passionate communities at scale.
More than six months ago, we launched the XIO Social Initiative (XSI) as a way to reinvest in our amazing community. Since launch, over $500,000 of rewards have been paid to Citizens for providing much needed feedback, insight, and engagement to our development process.
Today, we are welcoming the new leader of the XSI program, Jörno, to help us restructure and re-imagine our social initiatives. There will be four changes that will be implemented effective immediately (October 15th, 2020).
0:02 Who is Jörno? 3:10 Why did Jörno want to get involved with XIO 6:00 What is Jörno’s background with psychology? 10:21 What items about XSI is Jörno most passionate about changing? 16:00 More Ways to Earn with Sponsored Posts 22:52 Different Hashtags for Different Goals 33:13 Adjusted Snapshot Timeline 35:30 Clear Grading System and Expectations 37:48 The future of XSI 41:00 Closing remarks
For those that have been involved with XIO, you definitely recognize Jörno, an always consistent voice of perspective with the community and telegram group.
With over 10 years of higher level education in social and organizational psychology, it came as no surprise as to why he was consistently a top ranker within the XSI Leaderboard. While Jörno could have just focused on himself and how to protect his 10% per month earnings, he began to think of ways to step up and give back to XIO.
Two months ago, Jorno noticed a need for a central hub of communication and led the creation of the XSI Forum. Given his experience of designing/organizing team buildings and learning workshops of different kinds, his background in work and organizational psychology and noticing his passion for all things around XIO Social, today we are officially appointing Jorno as the Head of XSI and bringing him on-board the XIO Council.
His responsibilities will include:
– Overseeing all grading of XSI Credits
– Strategic positioning to help scale the XSI
– Help plan and create XSI discussions (moderate and facilitate these where needed)
– Assist with evaluating selected discussions and providing feedback to the community
– Focus on further development of the forum
With the recent launch of the $100,000 Flashstaking Competition, there seems to be some new intrigue on how everything works. Made this little blackboard explainer video to walk-through what’s going on behind the code when you #flashstake using $XIO. Hope this helps, let us know if you have questions!
We are ridiculously excited to release this video for a few reasons.
First, this is the first-ever inside look at one of our twice a week dev calls. Most people see the external or finished product but don’t know all the crazy amounts of time and energy needed to bring these products to life.
While Zachary Dash is mostly the public-facing voice of XIO, there are dozens of ridiculously talented people working endless nights and days to make this happen. Hopefully, this is a nice intro to a few of them and the crazy diverse accents of the group!
Second, this video shares some never before released insight and information on the $100k Flashstaking Competition with some strategy behind it. Not only will this give the world their first hands-on use of the XIO Dapp with real money on the line, but we also anticipate the protocol will get battle-tested beyond belief.
While an audit is awesome, we feel this is the safest way to test how people try to manipulate the protocol in real-time.
For XIO Social, below are just some questions to jog some conversation and areas we would like input on, but feel free to expand into any topic or ways you think we can make the competition a success!
How can we make the competition better or fairer?
Can you think of any ways we can prevent people from “cheating”?
Are there any specific altcoins we should use? How should rewards be allocated? In what proportions? ie Should only one person win or should the top 10 people on the leaderboard?
From a marketing perspective, how can we spread the word around for the competition outside the XIO community? What questions do you have about the competition?
Make sure to also join the conversation on the Youtube + XSI + Twitter to get the full amount of Credits available.
Today we are releasing the first ever look at the XIO Blackpaper, an 18 page open-source document that provides more insight and clarity to the XIO protocol than ever before.
You may notice that we have left comments available on the document. If you would like to participate in the #XIOsocial campaign, we are asking for your help to make this Blackpaper as clear, insightful, and helpful as possible. To earn XIO Social credits, make a thoughtful comment or question on any portion of the document.
Need extra clarity on something? Think a certain part sounds really cool? Is there a part of the protocol you think may leave us vulnerable to attacks? Anything and everything, let us know. We want and need your input to crowdsource this Blackpaper into reality!
xVault: Autonomous Venture Fund
Within the Blackpaper, you will see the first ever mention of the xVault: the world’s first autonomous venture fund. Built on top of the XIO protocol, there are three major differences between XIO and traditional venture funds.
Instead of being managed by a small group of VCs to source and scrounge for the next unicorns, the portfolio of assets is managed entirely by XIO Citizens.
Instead of risking capital, operators of the fund stake digital tokens into startups they believe in while retaining 100% control and custody of their money at all time.
Instead of capital being earned only when a startup exits or gets acquired, yields within the xVault are earned immediately and upfront.
The xVault vision is to support the next generation of decentralized innovation.
This is a 7-page document that expands on the decision to upgrade XIO into v3 architecture, the major development milestones ahead, and the game plan moving forward.
We hope our Citizens can see through the amount of research and thought put into the information above, we did not take this v3 decision lightly. Understanding a short term detour would set up XIO for long term sustainability and success, the decision slowly became a no brainer.
While it is not 100% possible to know exactly how much additional time this upgrade we create, deeper research showed us that it is much less than originally anticipated. To expedite the v3 architecture and reaffirm how confident we are in this direction, we brought on two new full time developers.
With the new coding brain power, the entire v3 architecture design, token model, and governance structure is on pace to be completed this week. That is the hardest and some of the most time intensive part of the process.
XIO is a proof-of-time protocol. The more time you put in, the greater the yield. Being an active and engaged Citizen is no different. The Citizens who trust in the process and are able to trade a little time to help us launch properly are the Citizens we want to attract.
We know. We get it. We understand the eagerness and anticipation for mainnet is at an all-time high and the question everyone wants to know is when when launch?
Nobody wants to hit the mainnet more than we do.
At the same time, we are here to build a project that completely changes the way humans interact with and think of money. That takes time, and we are going to do it right. We believe the future is bright for XIO and could not be more appreciative for your continuous support along the way.
To bring extra transparency to the journey of hitting mainnet, today we are launching a new public and community shared document called the XIO Dev Insider.
Within this document, you will see our current development goals, their status of completion, and short term sprint goals that will be updated on a weekly basis for anyone to view.
This Flashstaking Competition is a contest to see who can earn the most yield while using the XIO v3’s first real world application the xVault: An autonomous venture fund.
While the competition will be facilitated on the Ethereum testnet, real rewards will be earned in the process. At this time, we estimated rewards for this competition will range from $10,000 to $100,000
Why so much? For one, we believe this competition will provide a great activity to maintain energy and participation from the community without losing a beat on the original development timeline.
Second and most importantly, having this amount of people using the protocol in a financially incentivized manner will give us an extremely accurate case study for how the protocol will be used on mainnet.
While we do have a massive security audit planned from a third party firm, we believe this competition will provide real world feedback and expose possible vulnerabilities.
To participate, make sure you are an XIO Citizen and be on the lookout for updates on social and email.
Before we made any decisions for the future of XIO, we did massive research on Layer 2 scaling solutions and what this could mean for XIO.
While there are two pages in the XIO Blackpaper that show our takeaways, we are also releasing our full 14 page research paper of every option we looked at. Hopefully other projects who may be going through similar scaling issues may find this information valuable.
If you would like to earn #XIOsocial credits on this, we are asking for feedback, questions, and thoughtful comments on the Blackpaper. There are four places you can participate by responding and including your XID.