Understanding xHashtag in One Article: The DAO Project for Future Work

Since the first Bitcoin transactions began over a decade ago, the crypto industry has never lacked ways to earn profits. However, trading carries risks, and the immense volatility of cryptocurrencies only increases those risks. Of course, it can be very useful if you know how to use it; but for those who don't know how to use it, it can be extremely harmful.

This also explains why the explosive growth of DeFi in mid-2020 was so important for the crypto industry and the crypto community. DeFi brought ways to make money while ensuring that your cryptocurrencies are locked and secure. This is highly attractive to users.

Among the projects that have emerged in the past year and a half, xHashtag is one that provides special benefits to the crypto community.

What is xHashtag about?

xHashtag is a project based on the Solana chain that allows users to earn cryptocurrencies while helping to shape the future of decentralized Web or Web 3.0. The project describes itself as the DAO of the future of work, or Work 4.0 DAO.

The project's CEO, Monica Durga, has elaborated on the project's goals: "We may not be able to imagine the new types of jobs that are coming, which will require a new type of market, and we are building the decentralized infrastructure for it."

xHashtag aims to allow users to earn cryptocurrencies by choosing from many available simple on-chain, off-chain, and creative tasks. These tasks include very simple actions, such as retweeting a tweet or making an on-chain transaction, as well as increasingly responsible tasks later on.

Of course, these tasks are highly rewarding for users, and participation is free of charge. Additionally, it opens up a new marketing tool for Web3 projects.

The project has many features, including creating communities and leveraging its talent for self-development. It also offers earned token rewards to make it more attractive and prevent sell-off pressure. Furthermore, it has a PoS reward multiplier that encourages users to provide liquidity staking for multiplied rewards.

Finally, it also has an automatic review feature, where the DAO verifies all completed tasks.

About xHashtag Token

Of course, the project has its native cryptocurrency, called $XTAG. It is a utility token with multiple use cases within the project ecosystem. For example, the token can be staked to gain three types of benefits: reviewer status upgrades, governance, and task eligibility priority.

The project points out that staking is not mandatory for temporary users of the platform; they can still participate in activities even without investment. However, for those determined to participate, the project will offer extensive benefits in exchange for user support and encourage users to stake tokens.

There are many roles within the project ecosystem, including:

xWhales are users with the highest staking, currently set at 900 $XTAG. Once the project creates an activity, they are eligible to receive tasks immediately.

xSharks are intermediate stakers, with the current staking value set at 600 $XTAG. They are eligible to receive tasks one hour after the activity is set up.

xDolphs can receive eligible tasks two hours after the activity is initiated, with the current staking value to become an xDolph set at 300 $XTAG.

The token will soon be listed on two major exchanges, one of which is Gate.io, where trading will be available starting November 29, 2021.

Conclusion

The XTAG token serves as the core utility cryptocurrency on the xHashtag DAO. Token staking is its primary use case. The project itself aims to shape the future of Web3 while allowing users to benefit by earning profits in exchange for staking or contributions, ensuring that a decentralized network becomes a reality.