Live Q&A with the Community 02/15/22
Welcome to the recap of our second Open Q&A with the Community. First and foremost, we’d like to thank everyone who submitted their questions via form and those who participated live in the event. This time around, we enjoyed 2 hours of interesting questions, proposals and ideas, and helped clear out many doubts the community had in regards to our present and future plans. Please find the highlights of the conversation below along with the responses to the list of questions raised by our community.
We will be hosting more live Q&A sessions on a regular basis. So please come join us in telegram to keep up to date - https://t.me/Official_ProjectX
Community Q&A Talk 02/15/2022
- Could you talk about the ultimate version of the platform and also the polygon integration. I’m very interested in the actual product and learning where we are at, what we need to build and what is going well and not so well? What features will it have and also some words on the Xillionaires Club platform?
So, regarding the ultimate version, we call it this way, but of course it’s not the final version of the product. In a road map we can see that the vast majority of DAO management features would be released later (since they have been added to the Road Map in late January).
So in this version we’d have several super important features which makes this version ultimate from our pov. (But not the final or the best)
- DAOs available for XIL. (So, users will be able to invest in DAOs they like by using XIL as a payment currency, at a lower price than with BNB) - which is super important if not the most important feature to boost the utility of XIL.
- Staking for access. Since that release, everybody will need to stake XIL for the allocations = access to the platform. If you don’t stake XIL you can’t participate in launches.
- Payments. The mechanism that allows everybody to spend DAO tokens and XIL in real life. For example imagine we have a DAO of a singer, so you can use the tokens to buy a ticket / merchandise / music / course / etc.
- Dashboard of your investments. (What DAO tokens you hold / their performance, etc.)
- Submit your DAO. Since that version we will open an opportunity for anyone to become a curator. So you can submit the DAO and Xillionaires Club members will vote for that.
Then regarding Xillionaires Club:
- First voting procedures for some DAOs to launch, and some other questions.
- Guaranteed allocations to all the DAOs. For example for Metaverse DAO.
- And of course there would be special pools with NFTs as prizes.
- One of the most important things is that soon we’ll roll out an Ambassadors Program which will be a part of Xillionaires Club.
- Even though we invested in the NFT project, why hasn't even 1 NFT been issued yet?
If you are invested in any of those two launches we did so far (DJ SODA or Wolves of Crypto), then you should have received your portion of DJSD or WOLFC tokens respectively. You can use your tokens to get NFTs from those pools as some of the users already did.
*Reach out to one of our moderators, and they will assist you with the process.
**Note: To claim NFTs from the pool, you need to burn your tokens (DJSD or WOLFC).
- Why are the circulating supply and aggregate supply still nowhere to be seen?
That has already been added to the Coingecko website last week.
- Why do you insist on a launchpad?
Our platform is not only a launchpad, as we are building an entire ecosystem of different NFT-related DAOs. The launchpad is the first step and a necessary part of the ecosystem alongside with the governance tools, staking mechanism, and other features we mentioned before. Our launchpad is different from the regular launchpads, for example from Polka Starter, because the NFT DAOs we launch are quite different from games or DeFi projects. They are fractionalized NFTs, not like companies, platforms, games, or something of this type. By buying tokens on our launchpad, users will mostly use them to claim underlying NFTs (fractionalized NFTs) from the pool. This is why the performance of the tokens isn't the same as some of the other gaming projects show. This is currently the most efficient way to discover the real value of the NFTs.
- DAO management system
- Trading Platform
- Loan Platform (p2p)
- Payment Platform
- Tokenization solution (NFT issuance)
- Doesn't it bother you at all that the price is falling steadily?
Of course, one of our main priorities is to improve the price performance. Our token had different periods, where the token was trading at 10x, 7x, 5x, 3x, etc. In this period, many people made excellent returns and profit from XIL.
Now, it is trading below our expectations and we are doing all our best to improve this situation. This being said, we note that we rely heavily on our community.
We are the biggest investors in the project, and as you all have seen recently, we extended our own lock up period for 12 more months. So yes, we are committed, and yes, we definitely want to make this project super successful.
We have already discussed the exact steps and plans during the previous Q&A, so you can check all of the info in those medium articles.
And BTW, one more super important thing.
We changed the private sale vesting earlier this week. As you guys know, we had some huge dumps made by some of the private sale investors. These kinds of things are slowing down the growth and really make it way more complicated to onboard new holders. At least 3 of our bull runs were stopped by things like this. So we have made a decision to change the vesting and since this month, private investors are receiving 4 times less tokens per month than what they used to. (Total lifetime allocation remains the same). We have discussed it with all the advisors and largest investors who hold XIL. They all agree that it’s the best possible tactic.
We did this in order to reduce the sales pressure and to slow down the growth of the circulating supply.
- You say that you are doing marketing, but we have no doubt that it was unsuccessful. Do you plan to change anything?
We are improving our marketing strategy currently, and there are key aspects we want to mostly rely on:
-Expanding our KOLs network, and attracting more new KOLs from different regions. We want to focus the attention on mid-size KOLs with a highly-engaged audience, so that we can make sure our message will be delivered to potentially interested people.
-We are rolling out an Ambassadors Program. This program will allow everybody who has at least 100 followers to join and start distributing our content / bringing new people to the community. This way we can reach out thousands of people through their friends and onboard more new members to the community, which eventually will boost the token.
-Partnerships with solid blockchain projects (games, metaverses, gaming guilds, DAOs, NFT projects, DeFi projects). By utilizing our extensive network of projects we want to start doing cross promo activities and reaching our more new users, who are not familiar with our project, but who potentially might be interested in using our products.
-Media exposure. We are working with some media outlets regarding getting publications with our product mentions as well.
-New fractionalized NFT drops with celebrities or influential people. By working with this kind of people we open a door to their multi million followers base, so that’s a great marketing channel that allows us to onboard many new users.
And of course, we will be actively developing our existing community engagement activities to make them more convenient and beneficial to our loyal token holders.
- What about BIG partnerships, I mean partnerships with big names in Crypto (Axie Infinity, Solana, etc)?
First of all, that's a good idea. We have established an ecosystem-level partnership with Polygon and now our technical team is working on the migration to their blockchain. We already did an announcement about it, as well as Polygon did. But after we complete the migration, we will make a more detailed announcement with all the ways we will be collaborating with them. (Mostly it’s regarding tech, access to their ecosystem of projects, and NFTs).
- What about integrating DeFi to the project?
That’s a great idea. We are working on the payment mechanism, so that all of the token holders of different DAOs will be able to use their tokens as a payment method. Also, we have an idea to integrate a possibility to get loans using your NFTs as a collateral. We believe that might be a good way to bring more utility to the project.
Please check out the details in our recently-published ‘Strategic Vision’ article on medium.
And of course, If you have any other ideas, feel free to share.
- How do you plan to improve the liquidity of the XIL token?
Mostly we rely on marketing activities (see the questions above). So by attracting new holders, we will be able to increase a buy side demand which will eventually improve the liquidity. At the same time, it's very important to control the sell side. We have changed the amount of tokens Private investors receive on a monthly basis, and from February and onwards, it will be 4-times less than what it used to be.
- Do you plan to list on some new exchanges? I think that Gate.io did its purpose and we need new CEXs?
Yes we want to get listed on one more Tier-1 exchange (scheduled for Q3 22)
But before that we have to significantly increase our liquidity and make the project more popular.
- Is there any plan to join NFT marketplaces to provide liquidity to already issued NFTs from DJSD and Wolves of Crypto?
We launched those projects, but now their teams are responsible for their future progress. Like all of the IDO projects: launchpads launch them, and after that the teams keep developing them.
We don’t have a plan to add additional liquidity to the third-party marketplaces, because we believe those pools’ curators have to promote them more actively, and attract more organic demand so that liquidity will be improved.
- I was wondering, will you do DAOs for groups of people who want to chip in and buy a certain NFT together?
i.e. I want to buy a Tier 4 Illuvium land and it costs $80,000. Say I don’t have that much but don’t mind splitting it with 1000+ people. Would something like that be possible where you’d do like an IDO and raise that much and buy the asset. Any profits generated from the land’s revenue Xillion gets a % the rest goes back to token holders.
Yes, that’s exactly what we plan for single-purpose DAOs, so you wanna buy something (ideally NFTs), you team up, raise funds on Xillion, buy NFT, we fractionalize it and you’re all set. And these small cap DAOs might be a good driver for the platform's adoption.
So again the example with the land. Will the DAO manager be able to use the land and carry out daily activities directed by the DAO token holders?
Yes, the DAO manager (Curator) will be able to manage it, and if there’s a profit then he will need to distribute it among DAO token holders in a form of airdrop for example.
- How do you plan to regain momentum? The Telegram channel lost 30k users, the main channel isn't active as expected and just a few users are talking, not to mention the trading group which is literally dead. Price is below IDO and more and more people give negative feedback that will be difficult to challenge if the price keeps on dropping.
Yes, currently we are experiencing quite a tough period, but we are confident that the quality of our product is high, and the only thing we need to improve is marketing, which will help us improve the price performance.
We are improving our marketing strategy currently, and there are key aspects we want to mostly rely on:
- Expanding our KOLs network, attracting more new KOLs from different regions. We want to focus the attention on mid-size KOLs with a highly-engaged audience, so we can make sure our message will be delivered to potentially interested people.
- We are rolling out an Ambassadors Program. This program will allow everybody who has at least 100 followers to join and start distributing our content / bringing new people to the community. This way, we can reach out thousands of people through their friends and onboard more new members to the community, which eventually will boost the token.
- Partnerships with solid blockchain projects (Games, metaverses, gaming guilds, DAOs, NFT projects, DeFi projects). By utilizing our extensive network of projects we want to start doing cross promo activities and reaching our more new users, who are not familiar with our project, but who potentially might be interested in using our products.
- Media exposure. We are working with some media outlets regarding getting publications with our product mentions as well.
- New fractionalized NFT drops with celebrities or influential people. By working with this kind of people we open a door to their multi million followers base, so that’s a great marketing channel that allows us to onboard many new users.
*Talking about followers who unsubscribed, that's a normal situation for all the projects, a lot of people joining the groups only to get some airdrops / rewards etc. So we do not rely on users like that at all.
- Hello a good idea, I think never done before, is to have an utility for token $XIL, BUT IN OTHERS PROJECTS TOO. I explain, let's imagine you could use $XIL to reduce the fee in some exchanges or to buy new things in Axie Infinity. The buying pressure of $XIL would be amazing, what do you think about it?
Hey, that’s an awesome idea by the way. We are working with some gaming projects to make this kind of partnership happen. Regarding Axie’s NFTs, we want to launch a cool test activity for our token holders where they will be able to buy some Axie’s NFTs with a discount by using $XIL as a payment method.
- What are your future plans to maintain and improve the value of $XIL?
That’s a great question. So the brief answer is that, now we are adding a lot of new utilities to the token to make it an essential part of the ecosystem. We published a detailed article about it last week, but I can give a sneak peak of that.
As you know we are positioning Xillion as a home for DAO, which means we are gonna be having a lot of different DAOs launched on our platform. For example, Instagram bloggers DAO, Metaverse and Gaming DAO (YGG style), NFT DAO (Whale style), TalentX (Celebrity DAO) and others.
So, each DAO will allocate 20% of its token supply to Xillion treasury and $XIL will be pegged directly to this treasury. This means if you are buying $XIL you automatically get exposure to each DAO we launch. This way, it looks like an ETF that’s pegged to a diversified portfolio of DAOs. We believe that it would be a huge value for all of the token holders, plus that would peg $XIL to a value of the treasury, so it will be supporting it below certain levels.
Also, starting next month you will be able to use $XIL for claiming some NFTs from the pools. For example DJSD NFTs, WOLFC NFTs, and some others.
Additionally, holding $XIL will be a key condition to get access to the platform and to get allocation to any of the DAOs we launch.
- Will you further promote the tokens that you issue?
We will be promoting tokens we issue, but currently we have only one we issued (XIL), where all of the other tokens (DJSD & WOLFC) belong to their teams. Therefore, they are responsible for the promotion. We, of course, will help them whenever they ask for support.
- Is it possible for us to have more frequent announcements, big or small, to let the community know that there is progress or that the team is facing a roadblock? For instance, the staking pool should have rewards every 10 days as per the announcement but we have missed it for more than a week now. And yet there is no news or warning about there being a delay.
- Will the team explore using bonding mechanisms, like Olympus Pro, to build a treasury and allow scalable financing of staking rewards via protocol owned liquidity?
Yes, we love the idea, and currently exploring the technical side. So on a concept level, we are interested to try it.
- Will the team consider publishing a dashboard where coin holders can check updated metrics like market cap?
Yes, that will be released when our Devs complete the current key tasks from the pipeline.
- Hello, would you explore the next generation DAO 3.0?
- By assisting in the selection of a team and partners.
- Team acceleration.
- Testing and formation of the sales market.
- Provides an environment for testing the product under development.
- Providing access to the technological resources of the TG Ecosystem.
- Assistance in developing a marketing campaign and providing access to promotion channels.
- Enterprise-grade data protection.
- Collection of investments in different blockchains.
- Token listing.
- Assistance in raising funds from various types of funds (including state ones).
- Support system for startups after receiving investment
That’s quite close to what we want to eventually build up in our DAO management system, not all of those things but a part of them.