What Makes xHashtag Token ($XTAG) A Utility Token

xHashtag is a DAO for the #FutureOfWork, based on the concept of #Communities engaging in #Play2Earn. The platform offers users a new paradigm of working, modeled on Liquid Micro Teams. This enables users from across the globe to participate in an array of on-chain and off-chain activities set by a campaign creator, usually a Web3 project. xHashtag functions as a platform that connects individuals with Web3 projects, providing individuals an earning opportunity for completing tasks and helping these projects to accelerate their growth.

For the smooth functioning of our platform, we have introduced $XTAG, our native token with a supply of 100 million. The Token Generation Event (TGE) is in the final planning stages, and you should see an update on our social channels in the coming weeks. Meanwhile, here’s a quick guide on what you can do with our $XTAG tokens.

The utility of the $XTAG token

Staking $XTAG tokens on the platform serve three major purposes — Governance, Task Eligibility Prioritization, and Reviewer Status Upgrades. While staking isn’t mandatory for a casual user of the platform who simply wants to participate in campaigns without investing (Yes, that’s possible!), it does offer a host of utilitarian benefits for the ones who show their support to our project by staking tokens.

  1. Participatory Governance

On the xHashtag DAO, our native $XTAG token assumes the role of a governance token. This means that staked users on the platform would have a say on every major decision taken concerning the furtherance of the project. Naturally, users with a higher amount of $XTAG staked would have a stronger influence on the voting power for any proposals for the development of the platform.

Staking $XTAG allows users to initiate and participate in what we term an XDP — xHashtag Development Proposal. Through this proposal, users can vote in favour of, or against decisions that shape the outcome of the DAO. A majority approval in terms of voting would be required for a proposal to be accepted and implemented.

2. Task eligibility prioritization

As a free user on the platform who hasn’t staked $XTAG, eligible tasks would show up only after a fixed number of hours. However, by staking $XTAG, users receive tasks on priority, thus ensuring that they are more likely to receive tasks before the campaign’s fund runs out.

Currently, the task delay for free (non-staked) users is set at 3 hours of the campaign going live. For prioritization based on staking, we propose to have 3 staking categories — xWhale, xShark, and xDolph, in the decreasing order of their staking power.

xWhales are the users with the highest stake, currently set at 900 $XTAG. They are eligible to receive tasks without any delay, as soon as a project creates a campaign, subject to these xWhales fulfilling the campaign participation criteria.

xSharks are the mid-level stakers, with a staking value currently set at 600 $XTAG. They are eligible to receive tasks with a delay of 1 hour from campaign set-live, subject to these xSharks fulfilling the campaign participation criteria.

xDolphs receive eligible tasks after 2 hours of the campaign being initiated, and the current staking value to become an xDolph is set at 300 $XTAG.

However, it is important to note that all the above-mentioned staking values and delay durations can be changed by the DAO through a community-approved XDP.

3. Upgradation to task reviewer status

Although certain simple on-chain tasks are automatically approved by the DAO, other complex tasks including off-chain tasks or procedural tasks would need to be manually verified post user submission to ensure that the campaign creator who is funding the campaign is not delivered an unacceptable quality of work, either by omission, oversight or willfully.

By staking $XTAG tokens, users are granted access to a reviewer role. The reviewers, as an integral part of the DAO perform the task review, thus generating consensus regarding task completion. In case of an incorrect or incomplete submission, the reviewer rejects the submission through the DAO, and in the process gets rewarded with $XTAG for every valid review.

For every incorrect review, the reviewer loses a portion of his/her staked $XTAG tokens, which will be used to compensate the project for the incorrect submission. This form of reward and penalty system will ensure that the reviewer is attentive, prudent, and dedicated to the task.

Every user on the platform has the opportunity to become a reviewer, provided they stake a minimum amount of $XTAG that is required. This required amount of $XTAG to be staked can vary depending on the DAO’s decision made through a community-approved XDP.

Summary

The $XTAG token is a core utility token on the xHashtag DAO, with staking being the primary use-case. Through staking, users on the platform can benefit from:

  • Participatory access to XDPs, which essentially facilitates governance on the platform
  • Priority access to tasks made available by the Web3 projects on the platform, based on the level of staking
  • Reviewer access to conduct performance checks on completed tasks submitted by the users, in exchange for rewards

The future is massive at xHashtag. Don’t miss out on being an early adopter of this exciting new DAO which is set to revolutionize the #FutureOfWork and help shape the #FutureOfWeb3.

About xHashtag

Building on  is a Play2Earn DAO for Future Of Work where users can earn crypto by completing simple on-chain / off-chain tasks.

Projects can leverage community talent to accelerate community growth by rewarding valuable actions in their own $tokens with optional vesting to balance sell pressure. From a user’s perspective, xHashtag offers a way to earn rewards for completing tasks, while for the project, it presents a way to effectively achieve a wide token distribution with high ROI by building a community that constantly propels project’s on-chain and off-chain activities.

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