porkchop315
commented
5 months ago I like this idea for the mobile wallets but it does not need a token just a p2p communication as an added service
Open XMECATRONX opened 7 months ago
porkchop315
commented
5 months ago I like this idea for the mobile wallets but it does not need a token just a p2p communication as an added service
Proposal Due Date
31-12-2024
Proposal Overview
XORCHAT on Sora Network
tis a decentralized communication protocol based on privacy and communication encryption, connected on the SORA parachain on POLKADOT and KUSAMA, a powerful combination of messaging and business capabilities for WEB 3.0, eliminating the need for a database and avoiding leaks. Privacy is our top priority and every interaction with the Dapp is encrypted.
CHARACTERISTICS
Users can create individual or collective chat rooms using the XCHAT token to communicate with each other through a decentralized system incorporating messaging, video calls, voice messages, group meetings, sending and receiving documents privately and other features such as sending / receive payments and increase your storage. all this on the SORA blockchain with low transaction fees.
VALIDATION VIA WEB WALLET 3 By entering through your wallet you will be 100% secure, without phone accounts, emails or social networks, you provide the data you want and interact with the Dapp in milliseconds.
CHANNELS AND SPACES Create and interact with public or private community channels or content creators while earning money from maintaining XCHAT.
EMAIL Receive and send emails with all the features of a Web 2 email and the privacy and anonymity of Web 3.0.
INTEGRATED EXCHANGE Users will be able to easily exchange XCHAT tokens to other tokens on the SORA network or connected bridges.
P2P TRADE Exchange NFTs with other users on the Dapp
FAIR AND BALANCED TOKENOMICS
XORCHAT has a tokenomics mechanism designed to ensure fairness and justice in the distribution of rewards.
40% Liquidity Provision
20% Private Sale
15% Sora Builders
10% Ecosystem Fund
15% Staking Rewards
BASIC INFORMATION
Token name: XORCHAT
Token symbol: XCHAT
Total Offer: 10,000,000
DISTRIBUTION OF THE XCHAT TOKEN
Liquidity Provision: 40% ($4,000,000 $XORCHAT) Cliff Vesting according to participation round and Vesting for a maximum of 8 months with daily linear releases.
Private Sale: 20% ($2,000,000 $XORCHAT) Acquisition according to % TGE. and % of remaining investment according to participation round with daily linear releases.
Sora Builders: 15% ($1,500,000 $XORCHAT) Acquisition without unlocking TGE, 100% for 24 months with monthly releases.
Ecosystem Fund: 10% ($1,000,000 $XORCHAT) Unfunded, used for marketing initiatives and partnerships.
Staking Rewards: 15% ($1,500,000 $XORCHAT) Gradually allocated to rethink the rewards pool.
UTILITY AND FUNCTIONALITY OF XORCHAT
The XCHAT token is the main currency of the XORCHAT ecosystem and covers several functions, acting as a form of collateral for users to interact with all the functionalities of the Dapp.
Users will be able to pay the costs generated by interacting in the Dapp with the XCHAT token at the same time that the transaction costs are paid through the SORA token, accelerating its usefulness and burning.
Rewards users for providing nodes to the network, improving the security and speed of decentralized communication while gaining voting power within the protocol, generating profits from holding the token, and receiving staking payments.
Allows you to monetize any content provided anonymously through your channels or private transactions.
Pay for premium services provided by the XORCHAT application such as: (Hidden Chats, Emojis, real-time location sending, storage, custom domain, among other updates proposed by XCHAT or the community.
Receive rewards for using the app and creating content, custom channels and streams in addition to paying for services/subscriptions via XCHAT token.
DEFLATIONARY ECONOMY XORCHAT
DISTRIBUTION BY SWAPS
DISTRIBUTION OF PAYMENTS FOR SERVICES IN THE DAPP
With each transaction generated in the XORCHAT Dapp, 100% will be distributed as follows.
DISTRIBUTION BY PAYMENT OF SUBSCRIPTION TO PRIVATE CHAT ROOM OR SALE OF CONTENT
LIQUIDITY PROVISION
1st Round: $150,000 (1,000,000 $XCHAT), $0.150 for 1 $XCHAT (Cliff vesting for 8 months and Vesting for 8 months with daily linear releases)
2nd Round: $84,000 (500,000 $XCHAT), $0.168 for 1 $XCHAT (Cliff vesting for 7 months and Vesting for 7 months with daily linear releases)
3th Round: $193,000 (1,000,000 $XCHAT), $0.193 for 1 $XCHAT (Cliff vesting for 6 months and Vesting for 6 months with daily linear releases)
4th Round : $110,500 (500,000 $XCHAT), $0.221 for 1 $XCHAT (Cliff vesting for 5 months and Vesting for 5 months with daily linear releases)
5th Round : $287,000 (1,000,000 $XCHAT), $0.287 for 1 $XCHAT (Cliff vesting for 4 months and Vesting for 4 months with daily linear releases)
PRIVATE SALE
1st Round: $215,500 (500,000 $XCHAT), $0.431 for 1 $XCHAT Vesting: 10% TGE, 90% of remaining investment for 4 months with daily linear releases.
2nd Round: $323,000 (500,000 $XCHAT), $0.646 for 1 $XCHAT Vesting: 30% TGE, 70% of remaining investment for 3 months with daily linear releases.
3rd Round: $485,000 (500,000 $XCHAT), $0.970 for 1 $XCHAT Vesting: 50% TGE, 50% of remaining investment for 2 month with daily linear releases.
4th Round: $550,000 (500,000 $XCHAT), $1.1 for 1 $XCHAT - Vesting: 100% TGE.
TERMS AND CONDITIONS OF SALE
Leftover tokens in each round will be permanently burned from the XCHAT contract.
The minimum purchase per wallet is 100 USD with a maximum limit of 5 thousand USD per round.
Transaction fees will be paid with the SORA token, allocating a percentage for accelerated burning.
XORCHAT by MECATRON
Proposal Goals
Position XORCHAT on SORA as a leading project in decentralized communications.
Scope of Work
To implement my proposal in the SORA ecosystem, we would first need to analyze the specific features and capabilities of SORA. Then, we would design a decentralized communications protocol that can be seamlessly integrated with SORA. This involves developing smart contracts, user interfaces and transaction management tools compatible with the SORA infrastructure. Additionally, an exhaustive testing and auditing process would be required to ensure the security and efficiency of the system. The work would also include creating detailed documentation and conducting training sessions for end users. In summary, implementation would require meticulous planning, technical development, integration with SORA, extensive testing, and ongoing support.
Current Roadblocks and Barriers to Success
Current barriers to success could include the technical complexity of integrating our proposal with existing SORA infrastructure, the need to ensure scalability, and interoperability with other services within the SORA ecosystem. Additionally, user adoption and regulatory acceptance could be significant challenges. As for the ideal plan, it is crucial to pay special attention to the security, privacy, and efficiency of transactions on the SORA blockchain. We must also consider the user experience and ease of use of the platform to ensure successful adoption.
Evaluation Metrics and Criteria
This definitely depends 100% on the development team.
Submission Requirements
For your submission to be reviewed and considered a success, it must meet the following criteria:
Clarity and consistency in the communication of the proposal, including a detailed explanation of the proposed solution and its benefits.
Demonstration of understanding and analysis of the SORA ecosystem, highlighting how our proposal integrates and improves its functionality.
Evidence of technical and economic feasibility, showing how challenges are addressed and long-term sustainability is ensured.
Visually attractive and professional presentation, with graphs, diagrams and other resources that facilitate the understanding and engagement of the audience.
Growth and scalability outlook, showing how the proposal can evolve and adapt as the SORA ecosystem grows and changes.
Meeting these criteria will help ensure that the presentation is reviewed positively and considered a success.
Submission Method
Blockchain: Mainnet
Project Due Date
31122024
Budget Amount
This depends on the Development team.