Recap of the X-Cash AMA with Blockchain Space
On Monday, September 20th, we had the pleasure to welcome to our Telegram chat:
Guilhem Chaumont, The Co-founder of X-Cash.
We asked him questions about the development of X-Cash.
Q~ Thanks for joining us. Introduce yourself and your function in X-Cash to the blockchain space community?
A~ I am one of the cofounders of X-Cash which we launched 3 years ago.
I am currently leading the finance part of the project and notably the exchanges listings.
Prior to that, I was a trader at HSBC and I also run a market-making business at Flowdesk, one of the fastest growing company in the sector.
Q~ Tell us about X-Cash project, how does X-Cash plan to add value to the blockchain industry?
A~ X-Cash was initially a fork of the privacy coin Monero.
We believe privacy is very important, just like transparency and that’s why we developed some innovative features to help to overall ecosystem progress.
One of them is hybrid privacy and is currently live, which allows to either send a public or a private transaction.
Another one is Delegated Proof of Private Stake that we use to run the consensus of the network.
The community can stake their coins to delegate a pool of 50 delegates in charge of running the network.
Our ambition is to add our stone to the bridge by creating innovative tech and help solving the biggest challenge in the industry: scalability, resilience, privacy and compliance.
In the last three years we have run the project in the most transparent manner and we are getting further step by step everyday thanks to a strong and active community of knowledgeable users.
Q~ Can you share with us detailed information on the $XCash tokenomics and it’s usecases?
A~ Yes we have a Max Supply of 100bn token out which around 70% is in circulation.
Most of the supply has been mined while we were under proof-of-work or minted through the Delegated Proof of Private Stake consensus. The remaining coins will either come from minting in the next years or from the supply allocated to the foundation, team etc..
Over the last three years we have been very cautious about spending the coins in our possession. And we have done it with full transparency. For the team’s token, the lock is not time linked but market cap linked which helps in guaranteeing our continuous involvement in the project.
Today the token is used to vote for delegates and stake, and carry transactions.
As we are building a sidechain layer with smart contracts, it will be used tomorrow as a gas with a burn mechanism that will progressively offset and reduce the supply emission.
The token is also a key component in the rest of the ecosystem as we built a few use cases with X-Payment, a Discord P2P payment solution. And X-Bank, an online storage facility that also allows interroperability with the wrapped X-Cash on the Polygon chain.
Q~ Who are your partners in the Crypto Market , do plan to have more partnerships any time soon?
A~ As we almost developed our cryptocurrency from scratch, we took a lot of time to build the core technology before providing effective use cases.
Right now we are finalizing the layer 0 of X-Cash with the Mainnet of Delegated Proof of Private Stake.
As we release the layer 1, we will be able to provide much more use cases and partnerships.
This being said, we started a few months ago to engage with other projects. Recently we announced a partnership with Quickswap to provide dual liquidity mining for X-Cash and Quick users.
This has helped us a lot as we quickly grow into of the biggest pool in terms of TVL thanks to our community and the attraction of the Quickswap users.
We are currently in discussion with other exchanges to progressively list X-Cash on new venues and reach out to new users.
Q~ Give us an update on what the team at X-Cash has accomplished till date and your future plans for X-Cash ?
A~ Right now we are in a double battle of:
1. On the technical side, we are delivering new updates on our products and finalizing the layer 0 before the end of the year.
2. On the community side, we want to grow and deliver to our community on what we recently promised with a tier 1 exchange listing.
We are at a key milestone where the community traction is higher than ever with a good liquidity on Quickswap and increasing number of new joiners.
In the near feature we are preparing new marketing actions to keep fueling this growth while the new features will be deployed on the layer 0 and 1 of the blockchain.
Our ambition is for X-Cash to become the biggest privacy coin, while still offering a compliant way to carry public transactions. This will be done through a unified community of users and members. That’s why we strongly encourage all people interested to join our ambassadors and contributors program. A lot remain to be built and this is only the beginning.
QUESTIONS FROM TELEGRAM
Q~ With the popularization of Web 3.0 and the DeFi / Blockchain space, how does X-Cash propose to provide the toolbox for the next stage of the web, with these characteristics: Privacy when needed, Transparency to achieve compliance, and Decentralized Anonymous Governance? , to generate value for investors in the long term?
A~ We provide interoperability with Polygon Chain and Ethereum world Defi through the wrapped X-Cash and the X-bank.
The key challenge for us is to also address scalability with the sidechains solutions.
Q~ Do you have any plan for community ambassador program to reward more users and create local community channel for those users who are weak in English?
A~ Yes we already have an ambassador program with lots of users contributing from various regions.
Q~ STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them and long term. Does your GREAT PROJECT have. plan about to Staking?
A~ Yes, you can now stake and earn coins in DPOPS or provide liquidity on Quickswap and earn close to 1000% APY.
Q~ Can I buy your token right now, and if so, which wallets do you support? Can you tell me about your team’s history? How will you and your team complete this project in the midst of the current pandemic (COV-19)?
A~ Yes, we recommend buying on Quickswap and then providing liquidity or bridging through the X-Bank to get the native token.
Q~ What is the profit of Holders in your project ? Is it just to play games?
A~ In three years, we have seen a wide type of people joining the project.
Most of the people are in the same boat as us and want to increase the value of the project through the utility of the coin and the technology. The price has and will increase mechanically.
Q~ Can you List 1–3 Killer features of your PROJECT that makes it ahead of Competitors? What is the Competitive Advantanges your platform Has that you Feel most Confident about?
A~ Hybrid privacy, already live and deployed.
Delegated Proof-of-private-Stake, unique and already live and deployed.
Sidechains and smart contracts, coming soon.
Q~ NFT is really a hot topic in the cryptocurrency market now. So how is your project planning to develop NFT then how is your project planning to integrate it with DeFi?
A~ We will support NFT on mainnet along with the smart contracts.
Great pleasure to be with you guys today.
Thank you for taking the time and we hope to see you around and answer any questions you may have about the project.
Do not hesitate to join the project and particularly our Discord channel:
Join the X-Cash Community Discord Server!
Check out the X-Cash Community community on Discord - hang out with 4,914 other members and enjoy free voice and text…
We are also running a very interesting liquidity mining program on Quickswap that will help us reach 1M TVL and trigger a tier 1 listing. Right now the APY is close to 1000% :
It’s really nice having the X-Cash project in here!!!
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