Get ready to dive into the electrifying highlights of the groundbreaking XPerks and Node NFTs Pre-launch event that took place on March 20, 2024!
We've distilled the essence of the event into easily digestible sections, so you can join us on this exciting journey without any hassle.
As we uncover the intricacies of the coveted XPerks club Tiers, you'll discover the pathway to actively engaging in securing the network and validating transactions—a role crucial in the evolution of decentralized finance.
So, without further ado, let's embark on this exhilarating journey together! Join us as we navigate the ever-evolving landscape of innovation and unlock unparalleled opportunities within the realms of XPerks and Node NFTs.
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Section 1. The Evolution of Crypto and Blockchain
The team discuss the evolution of the crypto and blockchain space, focusing on the rise of meme coins, NFTs, and the cultural significance of certain digital assets like Dogecoin. They highlight how memes and low-cost entry points have become gateways for people to enter the crypto world and experiment with different projects. They also delve into the importance of interoperability in blockchain technology, emphasizing the need for seamless communication between different ecosystems to enable broader adoption and innovation. The discussion touches on the challenges faced by users, such as security issues and transaction fees, and the role of layer one solutions like Layer One X in addressing these issues and promoting decentralization, and stress the significance of user-driven decisions in shaping the future of blockchain technology and the importance of creating a more interconnected and user-friendly ecosystem.
Section 2. Interoperability Challenges and Airdrop Excitement
Efe, Chief Ecosystem Officer discusses the current lack of interoperability between blockchains like Ethereum and Solana, emphasizing the need for users to easily switch between platforms. He highlights the importance of interoperability across various sectors and mention their experience in different roles within the industry. The conversation then shifts to upcoming events, such as an airdrop program and the launch date of April 2, 2024. Matiu touches upon partnerships and additional bonuses for the airdrop campaign with Intract. Matiu shares details about tasks involved in the Intract campaign for the Airdrop and mentions the availability of more information in upcoming blogs and on the L1X App.
Section 3. Earn XP, Win Prizes, and Build the Future of L1X
The airdrop campaign for Intract is based on earning experience points (XP) by completing various tasks. Participants can earn 50 XP for a swap between two non-Ethereum blockchains and 200 XP for a swap involving Ethereum. Social activities also earn 10 XP each. The campaign ends on March 25th, and XP points will determine the share of L1X coins a participant receives, which will be airdropped and vested daily over four months. A major prize draw of 250,000 L1X coins is available for those who purchase a username or contribute $500 or more to the multi-chain balancer pool. Daily prizes of 1,000 L1X coins (5 x 200 L1X coins) are also rewarded for swap activity. Another airdrop bonus involves hosting nodes, with different requirements for full validator and event listener nodes. If users purchase a FVN they go into a major draw of 200k L1X Coins drawn on the 2nd of April and also a daily draw of 10k L1X coins for 1 winner. If users purchase a ELN, they go into a major draw of 50k L1X Coins, also drawn on 2nd of April and a daily draw of 1k L1X coins for 1 winner. Participants can purchase nodes with the required amount of L1X coins and receive an NFT. Lastly, participants can earn XP points through swaps and earn airdrop rewards.
Section 4. The Intract Platform's Exciting Features and Campaign
Matiu discusses the upcoming features and campaigns related to the Intract platform, and that users will be able to earn XP from multiple recurring swaps on the platform, leading to the accumulation of airdrop points. The Intract campaign will allow users to participate in daily draws for L1X coins based on their swap activities. Additionally, there are bonus airdrop campaigns where users can earn rewards by participating in various activities such as opting into the balance pool, purchasing ELN (Event Listener Nodes) or FVN (Full Validator Nodes). Major prize draws for significant amounts of L1X coins are also mentioned. Matiu emphasizes the importance of getting involved in these campaigns and exploring the different opportunities available on the platform. The XPerks and L1X Nodes feature is set to go live soon, with specific instructions provided for users to participate and unlock Node NFTs. The timeline for the launch of these features is detailed, and Matiu and Joe encourage viewers to engage with the platform and take advantage of the evolving ecosystem.
Section 5. Unlocking Node NFTs: XPerks Flow and Participant Tiers
Matiu talks through the XPerks flow for participants who have contributed to public, private, or seed round, term sheet contributions. For Seed, Term Sheet and Private investors, will need to go through one of the XPerks tiers (Silver, Gold, or Platinum). However, to unlock a node NFT, it has to be Gold or Platinum. The first 100 people to enter XPerks will get to have a go into the process and will be closely monitored by Kevin and the dev team to ensure a smooth process i.e. everything is working properly, everyone is getting exactly what they need to get. After the 100, more spots will be opened. As a prerequisite, participants need to confirm their L1X coin allocations through a data sanitization process, providing evidence if there are discrepancies. Once confirmed, there is no retracing, participants can then proceed to XPerks vesting to select their tier.
Section 6. Unlocking Node NFTs: Coin Allocation, Vesting Schedules, and Step-by-Step Guidance
In this part of the AMA, Matiu explains the process of unlocking a node NFT by allocating the required amount of coins. He mentions changes in the coin requirements for unlocking different node NFTs and how users can top up their coins if they are short. He also discusses the concept of cliffs and vesting periods for token distribution schedules. He further emphasizes that new users who want to purchase a node NFT can easily do so by topping up their coins through the Node page and going through the unlocking process. Once users top-up, they have to make sure they go into the same tier as their other allocation, so they have the correct total amount (previous allocation + current top-up). The top coins are automatically vested into the Platinum tier. Additionally, Matiu mentions that all vesting schedules and coin distributions will be visible on the L1X App for users to track. He provides step-by-step guidance on data sanitization, opting into tiers, and unlocking node NFTs. He also mentions that additional materials and a full video guide will be provided to assist users through the process.
Section 7. Ensuring Data Accuracy: A Step-by-Step Guide to Data Sanitization in the L1X App
The section discusses the process of data sanitization within the L1X App. To begin, you access the L1X App on your desktop by visiting l1xapp.com. Once on L1X App, connect to XWallet then navigate to the data sanitization option under XPerks page. Ensure you have the latest version of the Chrome extension i.e. V1.0.12. Confirm your allotment and check your current and actual balances for any discrepancies. If everything is correct, complete the sanitization process. If there are any issues, raise a query using the L1X App. Once sanitization is complete, you can proceed to the XPerks Vesting section. If there are any inaccuracies, do not complete the process until the query is resolved. The blog and video will provide further guidance on navigating through these steps.
Section 8. Data Sanitization, XPerks Vesting, and Node Unlocking
They discuss the process of data sanitization and XPerks vesting on the L1X App. It explains how to allocate L1X coins to different XPerks tiers, sign transactions, and view your XPerks stake portfolio. They walk through how to unlock a node using L1X coins and provide instructions on how to do so, whether you have enough coins or need to top up.
Section 9. Unlocking Extra Node NFTs and Topping Up with L1X Coins
Matiu discusses the process of unlocking extra node NFTs by topping up with additional coins. He highlights the importance of limiting the number of nodes one person can own to avoid centralization and promote decentralization. Users are allowed to unlock a maximum of 5 node NFTs per wallet to distribute ownership and ensure decentralization. The process involves selecting node NFTs, acquiring enough coins, and then purchasing the node. If users don't have enough coins, they can top up by purchasing more L1X coins. It's crucial to ensure the correct wallet address when topping up to avoid issues. The video also explains the process of purchasing nodes with crypto and using the L1X Coin top-up feature via Metamask for a seamless experience.
Section 10. Prioritizing Hosting Spots and Addressing Airdrop Eligibility
Node hosting will start when launched, with 80 node spots being released every month. The priority for node hosting will be determined by the tier of the Node NFT unlocked, with the first priority given to the Platinum tier, again on a first come, first serve basis, so first person who vests on Platinum will get the priority. Additionally, users can unlock a Node NFT to sell it after launch. The users who participated in the airdrop have their activities recorded and L1X will be allocating airdrops to those users. He explains the eligibility criteria for the airdrop campaigns and how activities will be recorded for the new campaign.
Section 11. Ensuring Data Accuracy and Navigating NFT Unlocking
Matiu discusses various campaigns and promotions related to purchasing usernames, nodes, and participating in airdrop bonus campaigns. There are different prizes and rewards for different actions, such as daily draws, major prizes, and entry into a major prize draw. The major draws will be conducted on April 2nd, while daily coins will be distributed to daily winners within 24 hours. Participants must go through the XPerks process to unlock the distributed coins and can choose to opt in or opt-out, triggering different vesting periods. Efe explains that the airdrop campaign aims to reward 'OG' transaction owners who have been part of the ecosystem for a long time. The process is wallet by wallet, and rewards and referrals are recorded up to a certain date. Participants may not be able to easily verify the accuracy of their referrals against the recorded data due to privacy concerns.
Section 12. Ensuring Data Accuracy and Navigating NFT Unlocking
Matiu discusses the importance of accuracy in recorded data and encourages viewers to raise queries if they notice any inaccuracies, and emphasizes providing evidence to expedite the resolution process. The discussion also touches on the process of unlocking an NFT and hosting a node, mentioning the use of bonus coins and the need to meet certain requirements. Additionally, Matiu addresses a question about the vesting of nodes and the eligibility to continue hosting if the staked amount drops below a certain threshold.
Section 13. Simultaneous Feature Rollout, Node Distribution, and Marketing Campaigns
The team discuss some key points include the intention to roll out features simultaneously, the ability for users to have thousands of nodes, the importance of distributing nodes to secure the system, upcoming marketing campaigns and launch plans, the process of claiming coins, and the availability of usernames for purchase. They also mention the involvement in a multi-chain balancer pool, the claimability of earned coins and tokens post-TGE, and clarifications on data sanitization and XPerks vesting.
Section 14. Marketing Strategies and Community Engagement
The team is working on marketing efforts with input from various angles, including using Twitter and key opinion leaders (KOLs). The conversation shifts to addressing questions about node hosting and coin vesting, and the importance of adoption and innovation in building a strong ecosystem, with a focus on developing unique features rather than simply forking existing projects.
Section 15. Interoperability at the Core
Matiu discusses the importance of building interoperability solutions from the core idea at the bottom layer. They emphasize the value of showcasing what can be done across multiple chains, attracting builders from various industries. Matiu highlights the benefits of building on Layer One X, including quicker and cheaper transactions. They stress the importance of adoption and the development of use cases to judge the value of a project. Matiu mentions upcoming projects in a vibrant ecosystem and hints at exciting developments using the technology. The video concludes with announcements about airdrops, Intract registration, and the opening of XPerks and Nodes, leading up to the TGE on April 2nd.
Questions from the Community
Q: Is sanitisation Wallet by Wallet?
A: Yes. You have to go through the process for each Wallet that you have L1X Coins on.
Q: Can you combine coins from each individual Wallets?
A: No, but you can top up each individual address.
Q: Does the balance include all coins, rewards, referral bonuses etc?
A: All referrals and competitions are recorded up to a certain date.
Q: If someone raises a query of incorrect, and if they are delayed due to that, how will this work?
A: Provide as much evidence as possible for it to be resolved quickly.
Q: If we go to platinum with 20,000 L1X Coins, will be able to use the 20% Bonus coins towards unlocking the Node?
A: No. Those bonus coins won't be received to you until month 4.
Q: Can I top up more than required, basically acquiring L1X Coins at Public Sale price?
A: No, because when you top up, you automatically go into platinum.
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Summaries provided are brief overviews of associated YouTube videos. While we aim for accuracy, they may lack full context. For comprehensive understanding, watch the complete videos.
Check out the Sum-up from the 13-03-2024 AMA, with Kevin and the L1X Team
L1X Team
