Xillion Monthly Update: August
Here’s our August monthly update. In this article, you will find all of the recent updates and tasks which are in progress.
Key takeaways / highlights
1. The Xillion platform has been updated significantly. With this new version we have:
1.1 Fully functional DAO editor.
1.2 Voting system where Xillion users can vote for DAOs to be launched.
1.3 Updated staking functionality to stake for allocations.
2. The Learn2Earn DAO platform has been developed. And in the V1 it will have the following features:
2.1 Access to the platform via NFT.
2.2 Exclusive Discord channel only via NFT as well.
2.3 Quizzes where only DAO members will be able to make real rewards.
In this section, I would like to explain our current strategy to help everyone to better understand our approach. During the last 4 months or so, we have done a large scope of work to add many necessary features to the Xillion platform.
As you all know, we aim to become a fully-fledged platform for managing DAOs. To achieve that, we have to add certain features to accommodate all of the DAO managers. This is exactly what we have been busy with, and what we will be busy with for the next few months. Our strategy is relatively simple and I already mentioned it in the previous monthly updates, so let me quickly repeat it.
- We want to make sure that all of the necessary features are built and ready for use.
- Launch 1-2 successful DAOs by ourselves to show to the market how the platform works and why it’s a good idea to launch their DAOs on Xillion.
- Start onboarding quality DAOs.
It sounds simple, but in reality it takes a lot of resources and time to make it work. Good news is that we are making good progress with the first step, and have already started the second step.
There’s never enough features, so we will keep developing them and making them better and more stable, so all the DAO managers can enjoy it.
We’re focused on the Learn2Earn DAO now to make sure it will be a good example of how the platform works. We’ve fully developed a technical platform from scratch for this DAO, and thus, it’s a significant development.
When we pushed this news through all of the KOLs we work with, the XIL price had touched 0.025+ from 0.01, which was more than 100% growth, with other good news that more than $450k was traded, so new investors came and bought tokens from those who decided to sell them, further attracting new investors who believe in the project.
After this impressive trajectory, token price had corrected to the levels that are anyway 10%+ higher than several days before. Volatility is a usual thing for micro cap projects (especially after 100%+ rallies).
Summarizing this part, currently we are focused on the product rather than on short term price actions, but we anyway keep doing our marketing and KOLs campaign to promote the platform and DAOs we launch. Check out the previous article where we highlighted all the principles we use for managing the project.
About the market
Even having this good momentum for BTC and other major coins, the market is still uncertain, which is obvious for the vast majority of investors. That means volatility is gonna be here for some time.
Here are our principles for dealing with the bear market that I wrote a month ago for our previous monthly update, which probably some of you might have missed:
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 one. 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 Educational 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.
So now that we have discussed all of those points, let me present to you more details regarding our technical updates.
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.
Current update status (August): Completed.
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.
Current update status (August): Completed.
The concept is quite simple. It is going to be an Educational DAO where when you get on the platform, read educational content, and complete quizzes to earn real rewards in different tokens. The DAO will be making partnerships with different projects and giving their tokens as a reward to the DAO members.
How to become a DAO member?
- Buy an NFT to gain access to the platform. The first batch of NFTs is available for purchase only in XIL token (Xillion’s native token). Quantity is limited, and at the first batch there will only be 150 NFTs where 100 of them are available for sale. 1 NFT will be sold for 20,000 XIL (around $200 at the moment of writing). So if you want to join this DAO, make sure you have at least 40,000 XIL on your balance to participate and that you staked 20,000 XIL out of that amount, for the allocation.
- It will be conducted on a FCFS principle (first come first serve), so only the first 100 users will be able to get those NFTs.
- But, as a bonus for all of the Xillionaires who don’t want to sell $XIL but want to join the DAO, we have decided to open one more opportunity to get NFTs. 30 NFTs will be given as a reward for a special staking program. Conditions are super simple - you stake 100,000 (no more, no less) $XIL for 30 days and get 1 NFT as a reward. Here we will apply the first come first serve basis as well. The first 30 people who join the staking will get 1 NFT each. What’s the difference? Those who will buy NFTs will be able to start getting rewards from day one, but those who choose staking will need to wait 28 days before getting NFTs.
Existing features (already built and ready):
- Access to the platform / all the education content via NFT.
- Exclusive Discord channel only via NFT as well.
- Quizzes where only DAO members will be able to make real rewards.
All developed and done. This DAO wasn’t in scope even 2 months ago, but we have quickly accumulated our resources and developed it all from scratch, so now all the smart contracts, UX and UI are built and ready.
Future features (V2-V3) if the product succeeds:
- In-built closed-door chat for DAO members only (access via NFT).
- Leaderboard for the most active DAO members.
- NFT breeding. You’ll be able to grow your NFT by adding boost factors. So the higher level your NFT the higher your rewards will be.
- Voting for the next project the DAO needs to partner with via your NFT.
- Platform for creators, where all users will be able to submit their content. If DAO members vote for them to join the platform, then they will receive rewards for each content piece.
Next features we will be working on in the next 2-3 scopes (the scopes might have been changed):
- Voting System as a service for all of the DAOs.
- In-built Ambassadors Program as a service.
- In-built Communication Platform as a service.
Xillionaires, thanks for reading this update. Stay tuned for more good news about L2E DAO, and feel free to join it.
Have a great day.
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.