Monthly Update and Our Strategy For a Bear Market
Hey Xillionaires, here is a new article where you can find our platform development update, and some highlights regarding our bear market strategy.
First of all, the development has been moving on schedule (even ahead of pace) because we have extended our team with the hiring of new developers and product managers with great blockchain experience. We have now been able to complete some of the features 2 weeks faster than initially planned.
Fully-automated DAO Drag & Drop editor:
We consider Xillion as a two-sided marketplace, where people launch high quality DAOs and others can support them by funding those DAOs. We see ourselves as a convenient and efficient platform where those parties meet and collaborate.
The success of this kind of product depends on two factors. The first is the quality of the DAOs, and the second one is the scalability of the platform. This means the quantity of quality DAOs, as well as the quantity of the users which the platform is able to accommodate. We as a platform want to keep our platform as accessible as possible, and let the community of XIL holders decide which DAOs should be launched. To achieve this, we need to provide all of the DAO founders with an opportunity to easily launch and manage their DAOs.
With this feature, everybody will be able to go to the Xillion.one website and easily launch their DAO without any specific technical skills. Only after this, the DAO will be sent to the voting stage where XIL token holders will make the final decision on whether this DAO will be launched or not. Regarding an important remark - to launch a DAO you need to stake at least 10,000 XIL, and to vote you will need to have XIL on your balance as well. This feature not only makes the platform better, but also drives the adoption of XIL.
Previous update status (June): In progress. Currently developing the backend for this feature (around 40-50% done).
Current update status (July): Completed. Testing starts this week.
So as you can see, we have finalized the code, completed the integration with the platform, and are currently ready to enter a testing phase.
In-house voting platform:
Currently, we have a Voting Governance System, but we received it via integration with Snapshot. This is a good thing to have, but this solution isn’t flexible and isn’t easily adjustable. There are some major features we want to have, but aren’t able to add currently due to the Snapshot platform’s limitations (mostly regarding implementation of XIL token as an essential part of the system, which we need in order to boost the utility of the token). Therefore, we have decided to launch our own proprietary voting system, which will be based on the XIL token. We are already developing this and aim to release it within the next 2 months.
Previous update status (June): In progress, currently we are actively working on the Smart Contract development. (30% completion)
Current update status (July): Completed. Testing starts at the end of this week.
One more task that we have completed faster than expected (same as DAO editor). Currently, we are preparing for the testing phase.
This is an all-in-one platform where XIL holders can become ambassadors and earn rewards for completing different tasks. Additionally, it is a platform where XIL holders can receive airdrops and bonuses from the platform. It is a community where all XIL holders can interact with each other, vote for DAOs to be launched, and much more. As you can see, there are a lot of features included, so it is basically a stand alone product (in terms of complexity and development difficulty level). We also expect to release this in 3 months.
Status: In progress.
Current status: Airdrop platform is in progress (30% developed), access via NFT is fully-developed, members-only staking smart contract is developed. It’s quite hard to estimate the % of completion, because there’s still quite a lot of complex mechanisms and features in the scope, and all of them would take around 3 months to fully develop and integrate. However, we can say that it’s roughly around 25-30% completion.
New DAO for XIL holders only:
We appreciate every XIL holder, so we want to make sure you guys have more and more utility for your XIL tokens. So, please welcome our new initiative - Education DAO. We believe that education is one of the most important aspects in the market, so we want to provide all of the XIL holders with the opportunity to get access to a brand new Learn2Earn platform where all of the DAO members will be able to learn more about the market and earn rewards for their actions. You all have probably noticed that we’ve been actively posting educational content about the DAO market since the beginning of June, and some of you might have also watched our interview with Chris Lee of DAO Maker about the importance of education and the current market state. All of those steps are also part of this initiative.
- The sale will only be in $XIL.
- FCFS principle, only first 150 users will be allowed to get access to this DAO.
- No tradable token. Only access NFTs.
- Users will be getting rewards for every piece of content they consume on this platform.
- Only $XIL token holders are allowed to join from the beginning.
The DAO will be released in July, so stay tuned to get more info about this!
And last but not least, to protect our token price and all of the token holders during this crazy time in the market, we’ve changed the vesting schedule and will resume token distribution to private sale investors (no earlier than 31st of August). The unlock size will be 4 times less than it used to be before, to reduce potential sales pressure.
Our Bear Market strategy:
As we mentioned in the previous update, we are entering the bear market and now it’s absolutely clear that we are in this bear market. We can see in real time how multi-billion crypto empires are going bankrupt and losing billions within a few days. Additionally, some of the market leaders are actively preparing to bail them out and get more market share.
Picking only one “perfect” strategy and never changing it is quite difficult, and an almost impossible task during this kind of market. However, there are some principles that we have formulated recently after having many conversations with our advisors and investors who represent large VCs and Top market companies. We will be using those principles to navigate through the bear market, and constantly adjusting the strategy to eventually get through it and build up a successful company.
These are the Principles:
- Double down your investments on the product(s) to provide users with the best possible experience.
- Use only cost-efficient marketing channels, don’t focus on hype, focus on cost-effective user acquisition. In our case it’s partnerships with other market players where we can easily get access to the new audience, meaningful relationships with existing KOLs, and onboarding new high-quality KOLs at reasonable costs (cost-efficiency is a key).
- Constantly add utility to the token to make it essential for using the product. Then, when your token is an essential part of the platform and the platform is growing its user base, it will drive the demand for the token.
To summarize, our strategy is quite simple, but we believe it is well adjusted and efficient. We will keep increasing the investments into the development of the platform to achieve the best level of UX. At the same time, we will be actively onboarding new high quality DAOs and users through new partnerships and our marketing channels. We will be adding consistent utility (like we already did with the Education DAO, our new voting system, etc.) to the XIL token to make it an absolutely essential part of the platform. Additionally, we will be doing all the best to attract talented DAO founders who will be launching and managing their amazing ideas on our platform.
A combination of a product with a great UX, sufficient amount of interesting DAOs, and a fast growing user base will boost the demand for the XIL token, and eventually increase the value of the entire Xillion ecosystem.
Xillion.One - a fully-fledged ecosystem for DAOs. All of the essential tools for building a successful DAO included in one convenient and easy-to-use platform.
Launch your DAO with no coding required in just a few clicks, raise funds easily, manage your DAO, and automate all governance in our all-in-one platform.
Buy and hold the XIL token to gain access to the exclusive Xillionaires club. Here, you will be able to unlock amazing benefits and privileges such as lucrative staking, exclusive airdrops, and more by simply holding the token.