Live-X Community AMA 6-6-2024

Live-X Community AMA from the 6th of June 2024 with the latest answered questions.

Missed the latest Live-X Community AMA? As a summary recap of the last Live-X Community AMA, you can find all the questions that were solved on stage.


Q: Do L1X has an updated L1X Roadmap?

A: Yes, you can find it here.

Q: What is the current ETA on release of the mobile App for L1X?

A: ~Q4 this year.

Q: What is the path ( from here 0.12 USD coin price ) for L1X to achieve 1B USB market cap?

A: To continuously improve the value of the L1X Coin, utility is the key. Our focus will be on onboarding and supporting new projects while nurturing our ecosystem's growth. We’re excited to share that our DEX is currently in development, and we're eagerly anticipating its launch once the final testing phase is complete.

The development has been progressing smoothly, and we’re confident that our DEX will offer unique features not found on any other platform. Our dedicated developers are committed to continuously enhancing and adding more capabilities. Let’s look forward to this exciting milestone and continue working together towards our goals.

Q: How do we attract the significant and loyal investors that we need?

A: Our goal is to cultivate a loyal community by supporting and partnering with projects built on L1X. We’re committed to onboarding and collaborating with these projects to help them reach users and gain broader visibility.

As we bring more projects into our ecosystem, the utility of the L1X coin will naturally grow. The stronger our project base, the more value we can collectively create. Together, we can build a vibrant and robust ecosystem that benefits everyone involved.

Q: What is the clear plan to achieve the utility that we need to demonstrate? Is 2 projects per month enough for us to head to 1 B Market Cap Do we have the resources (financial and human ) to achieve the project on-boarding that we need?

A: We are excited to share our focused approach for the next 12 months, which involves partnering with projects across eight key categories to strengthen our ecosystem.

  1. DeFi: We’re developing user-friendly protocols for lending, borrowing, trading, and yield generation that work seamlessly across different blockchains.
  2. Marketplace(s) Blockchain-based markets: We aim to enhance asset trading by building efficient decentralized exchanges (DEXs) and NFT marketplaces that improve the experience of buying, selling, and managing digital assets across chains.
  3. Launchpad: Exciting projects are in the works, including a cross-chain launchpad and another focused on university-led projects, which have an impressive 95% success rate.
  4. Real-World Asset Tokenisation: By creating secure and transparent tokenization solutions, we aim to bridge traditional assets with the blockchain economy.
  5. Games: We’re supporting the development of innovative games featuring unique elements like tradable in-game assets and cross-chain functionality.
  6. Cross-chain Governance solutions: We’re building tools that enable users to participate in governance processes across multiple blockchains, making decentralized decision-making more accessible.
  7. Identity Management - Prioritize User Privacy: Our goal is to design secure, omnichain identity solutions that prioritize user privacy, giving users control over their data while simplifying interactions with decentralized applications (dApps).
  8. Cross-Chain Computation and Communication: We’re working on applications that leverage the combined resources of multiple blockchains for complex computations and utilizing our unique X-Talk technology for seamless data exchange across networks, aiming for a unified blockchain ecosystem.

    As we continue to integrate new chains and support these core projects, we believe they will contribute significantly to L1X's stability and infrastructure growth. These efforts will help us establish a stronger presence and scale our ecosystem effectively.

Q: In the interest of transparency and understanding the challenges that often arise in complex projects, could you share if there have been any significant issues or roadblocks that have slowed down the development of L1X? If so, could you provide an honest explanation of these issues, how the team is addressing them, the expected timeframe for resolution, and whether these challenges might impact the long-term vision and goals of the project?

A: One of the challenges we face at L1X is how X-Talk, our unique cross-chain communication technology, is perceived by others. When we engage with other projects about our core technologies and capabilities, we often encounter two types of responses:

  1. Generalization: Some people tend to group us with other projects and Layer 1s that claim to offer interoperability, without recognizing our distinct approach.
  2. Skepticism: Others may initially be skeptical about our innovations. However, once they experience that "Ah-ha" moment, they quickly become convinced of our technology’s value.

Communicating our distinctiveness in a crowded and often noisy space can be challenging. It's an ongoing effort to convey clearly what sets us apart, why our approach is unique, and how it benefits those who use our technology.

We need to continue these conversations and persistently showcase the value of what we do. By doing so, we can help more people understand the exceptional capabilities of X-Talk and the broader L1X ecosystem.


Q: Do you have plans to reassess or reduce these activities to ensure the long-term stability and value of the project?

A: We're shifting our focus towards the Ecosystem Grants Pool to better support projects and users building on L1X. This new direction aims to provide more targeted incentives, fostering growth and innovation within our community.

Q: When will the Coin Distribution Platform be built so we can see where all these coins are coming from and what Total Allocation amount we are getting from every event, airdrop, competition, Zealy, Gleam, and Vesting Unlocks we are getting? 

A: The design is complete, and it will be released soon. We're currently in the testing phase to ensure everything works smoothly before the launch.


Q: On Coingecko L1X, there is no circulating supply data and hence no Current MC is shown. L1X is the only coin on Coingecko that I look up that is missing this data. Why is this and when can it be fixed?

A: Yes, we are aware of this data error. We have been in contact with CG on many separate occasions to resolve this data issue.

Q: What is the % vested into Xperks

A: As of our last check before the launch, approximately 74% of all Seed and Private Coins were staked. Within that, roughly 47% is staked in Platinum, 13% in Gold, and 40% in Silver. The remaining portion will need to be staked into XPerks.

Q: Why are the tokenomics release schedule graphs no longer viewable in the white paper? And when will the new chart be released? 

A: It is pending.

Q: Why is the team vesting period so short (only 24 months, same as platinum vesting). Should be prolonged to at least 60 months if the team still believes in their project.

A: The team vesting period was initially set at 15 months from TGE but has been extended to 24 months with a 6-month cliff. Platinum vesting has a 3-month cliff, with a 20% bonus delivered from August to November, along with Node Hosting NFTs. While the team 6-month cliff and vesting are mandatory, participation in the platinum vesting is optional.


Q: There are various people on the L1X discord saying that the Hashlock audit was not complete as it has not audited all of L1X and that this is an impediment to our growth? Is this correct?

A: The Hashlock audit is a cycle, of Hashlock releasing a report on a specific product or capability e.g. VM’s or Smart Contracts, with most being low or medium issues, there have been a couple of highs but these have been worked through and Hashlock will release updated reports for each.

Q: Is the reason we are not on more exchanges and coinmarketcap because of the explorer and now it’s done should we see more listings 

A: Absolutely, each exchange has its own criteria for evaluation. They consider various factors, including volume, demand, and sentiment. Sentiment is often gauged by the size and engagement of the community. I understand that many are eager to know "WEN T1s?" It's crucial to recognize that reaching a Tier 1 exchange listing requires us to maintain a daily trading volume of around $500K on a single CEX.

While expressing frustration is natural, it's important to channel our energy positively. Constructive questions and discussions can significantly impact our evaluation by exchanges. Exchanges often review community interactions, and a positive, supportive atmosphere can enhance our appeal. Let’s focus on boosting our volume and fostering a positive dialogue to help achieve our goals together.

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