Decentralized autonomous organization (DAO) service provider xHashtag has announced its community accelerator program for Web 3.0 projects on the Solana network. An upsurge in activity within the crypto ecosystem has led to a rise in Web 3.0 projects. Many of these projects are useful and have great potential. However, market visibility and sustenance are major challenges. This often dwarfs the growth potential of the projects.
It is this exact problem that xHashtag seeks to solve. Using its community bootstrapping tool that accelerates project growth, xHashtag offers Web 3.0 projects a platform to actively curate and build their community. With xHashtag, Tech developers don’t have to worry about community building anymore. Instead, they can focus on building the product.
xHashtag will help these projects grow their user base by offering incentivized microtasks to the users. These tasks can help convert the users into long-term supporters of the project.
“Blockchain technology, as we know today, is democratized, and building great products is not difficult, but getting users is the most difficult challenge that is faced by any blockchain project, in fact, any product in the world. At the same time, there are a lot of people on this planet who have access to the internet and are actively looking for new avenues to earn crypto, not by investing capital but by time. That’s the reason why we are building xHashtag, a win-win solution for both projects and users,” said the CEO of xHashtag Monica Durga in an interview.
Users interested in a Web 3.0 project can complete simple on-chain/off-chain tasks that contribute towards the project’s success. In exchange, members of the community receive the target project’s tokens as rewards. Users can also stake the project tokens and earn a reward multiplier, creating a demand and brand new utility for the project tokens. The result is a win-win situation for everyone.
xHashtag has experienced tremendous success. In just a little while, they have built a strong community by running their proof-of-concept (over 100k members on Telegram and Twitter). After raising $2.6 million through a private seed round in order to develop the infrastructure to support projects across multiple blockchains, xHashtag completed its initial DEX offering (IDO) on Nov. 27 on SolRazr. Moreover, the XTAG token will start trading on Nov. 30.
The first community accelerator DAO on Solana has partnered with several investors including KuCoin Labs, Gate.io Labs, Exnetwork Capital, 18 Ventures, ZBS Capital, Chain Capital, Panda Capital, CSP DAO and Titans Ventures, to mention a few. Its native token XTAG, is expected to trade on well-known cryptocurrency exchanges including kucoin.com and gate.io.
xHashtag believes in the concept of future-of-work where digital platforms play a major role in shaping how work is executed. This digitization would cause most traditionally established structures such as fixed work location, fixed work hours and organizational hierarchies to become redundant and obsolete. The xHashtag DAO is designed in such a way that users can add new task levels ensuring scalability.
About xHashtag
xHashtag.io is a decentralized valuable infrastructure for projects to grow their community and user base. It is built on the Solana network and can help projects increase the number of on-chain and off-chain activities taking place with regard to the platform. By completing these tasks, users earn crypto rewards in the form of project tokens.
Projects can leverage community talent to accelerate community growth by rewarding valuable actions in their own tokens with optional vesting to balance sell pressure. xHashtag offers unique benefits to both the user and the project owners. For the user, xHashtag offers a way to earn rewards for completing tasks. For the project, it presents a way to effectively achieve a wide token distribution with a high return on investment by building a community that constantly propels the project’s on-chain and off-chain activities.
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