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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 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.

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

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 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. Initiatives can leverage group expertise to speed up group development by rewarding priceless actions in their very own $tokens with optionally available vesting to stability promote stress.

As I began constructing and researching varied use circumstances of blockchain know-how, I spotted that all of it boils right down to the group. Blockchain know-how as we all know it right this moment is democratized and constructing nice merchandise shouldn’t be troublesome, however getting customers is essentially the most troublesome 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 explanation why we’re constructing xHashtag, a win-win answer for each tasks and customers. 

How many individuals are engaged on xHashtag and the place is the crew situated?

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

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

What applied sciences have 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 among the fastest-growing layer-1 blockchains when it comes to pace in addition to developer exercise, and our product is properly fitted to tasks within the early levels, that are a lot on Solana.

Moreover, Solana’s low transaction charge makes it properly fitted to micro-transactions like we have to make on our platform, nonetheless, our modern 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 companion, SolRazr, a premium launchpad on Solana, as we’d have the ability to cater to the group development wants of tasks within the pre-IDO part. We might 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 Initiatives which might be in pre-IDO part/ IDO/ post-IDO would have the ability to easily launch their group campaigns and fund them on the blockchain in a decentralized and trustless method. xHashtag presents them a technique to successfully market their product and likewise assist them obtain clean token distribution.
  • Customers who could be the marketing campaign contributors and can have the ability to flick thru these campaigns on our platform with out having to modify tabs /gleam campaigns and might earn crypto rewards by finishing these on-chain/off-chain duties.
  • Reviewers are the $XTAG stakeholders who might evaluate 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 largest ache level could be to maintain the financial system steady and balanced. We’ve solved it by designing a steady financial system the place the rewards aren’t depending on inflation of our token (XTAG), however is coming from our consumer tasks (in their very own $tokens), in alternate 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 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 varieties 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 count on to assist at the least 1000 tasks within the subsequent 3 years, and xHashtag might in all probability 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, Process 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 need to earn extra, they will stake $XTAG and obtain duties on precedence earlier than the marketing campaign runs out of price range. Additionally, a charge of two%  might be charged when the marketing campaign is initiated.

This charge might 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 concerning the milestones already achieved and the long run roadmap?

We’ve got not too long ago launched our MVP and our group grew very quickly, and we’re at present have over 100k members in our Telegram channel and over 97k followers in Twitter. We intend to develop our incentivization program to help on-chain participation and share the identical know-how with different tasks within the crypto house 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 means of nice backers, and our IDO is arising on twenty sixth November 2021 on SolRazr, adopted by an alternate itemizing on twenty ninth.

We’ve got already partnered with 3 tasks and we might be revealing them shortly whereas we Beta model of our platform. This implies our group might be always incentivized every day to spend a while on properties of companion tasks. 

Aside from that, we’re structuring our structure in such a means that whereas nonetheless constructing on Solana, we might be supporting transactions throughout BSC, Polygon, Avalanche, Polkadot and extra. This implies extra rewards for our group, and we can assist extra tasks.

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

The easiest way to study xHashtag could be by means of our web site www.xhashtag.io and our official social hyperlinks:

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