The crypto industry has been offering methods of earning a profit ever since Bitcoin trading first started over a decade ago. However, trading carries risk, and crypto volatility is certainly not helping matters either. Of course, it can be very useful if you know how to use it, but it can also be very damaging for the capital of those who do not.
This is why the DeFi sector’s explosion in mid-2020 was such an important thing for the crypto industry as well as the crypto community. DeFi brought ways to earn money while keeping your cryptocurrencies locked up and safe, which attracted people massively.
Among the projects that emerged over the last year and a half is also xHashtag, which has a special offer for the crypto community.
What is xHashtag about?
xHashtag is a project based on Solana’s blockchain that allows users to earn cryptocurrencies while helping shape the future of decentralized Web, or Web 3.0. The project describes itself as a DAO for Future of Work, or a Work 4.0 DAO.
The project’s CEO, Monica Durga, commented on the project’s goals by saying that "There are new types of jobs incoming that we probably cannot imagine right now, and such jobs would require a new type of marketplace, and we are building decentralized infrastructure for it right now."
xHashtag was designed to allow users to register and earn cryptocurrency by choosing from a number of simple on-chain, off-chain, and creative tasks that are available. The tasks could range from very simple things, such as retweeting a certain tweet, or making an on-chain transaction, to more and more complex requests.
The exercise is, of course, very rewarding for the user, especially as they don’t have to pay fees in order to participate in these tasks. Plus, it opens up a new marketing vehicle for Web3 projects.
The project has a number of features offered, including the ability to create a community and leverage its talent to increase its own growth. It also offers vested token rewards that make it attractive and thwart immediate sell pressure. Next, there is a PoS reward multiplier that encourages users to indulge in liquid staking of tokens, which allows them to multiply rewards.
Finally, it has automated reviews as well, with the DAO verifying all the completed tasks on its own.
About xHashtag token
Naturally, the project also has its native cryptocurrency, known as $XTAG. It is a utility token that has several use cases within the project’s ecosystem. For example, the token can be used for staking which, in turn, offers 3 purposes — Reviewer Status Upgrades, Governance, and Task Eligibility Prioritization.
The project points out that staking is not mandatory for casual users of the platform, as they will still be able to participate in campaigns, even without investing. However, for those who decide to participate, it will offer a wide range of benefits in exchange for supporting the project and staking the tokens.
There are also plenty of roles within the project’s ecosystem, including:
- 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.
- 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.
- 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.
The token will be available for trading on two leading exchanges including Gate.io starting 29th of November, 2021 onwards.
The XTAG token acts as a core utility cryptocurrency on the xHashtag DAO. Staking of the token is its primary use case. The project itself aims to shape the future of Web3, while simultaneously allowing users to benefit by earning a profit in exchange for staking or contributions in ensuring that the decentralized internet will become a reality.