Announcing the XTK Launch Challenge

Regan Bozman
xToken
Published in
2 min readFeb 25, 2021
Who are they? Where did they come from? How did they become the xToken mascot?

The xToken Community Rises

We’re incredibly excited that xToken’s native token XTK is finally live (read more here). The XTK distribution model was designed to make sure that our community has shared upside in the network. That’s why we set aside 50% of the supply for the community, including 2% distributed to early xToken users retroactively and 8% of supply to people providing liquidity during the initial period.

As we decentralize the project, we know that XTK will prosper or perish based on community engagement. xToken wants to reward its community for all of the work it has contributed — and will continue to contribute — to the network. Hence, we’re committing to distribute at least 1% of XTK tokens to current and future community contributions. Not all community members can or want to participate in our liquidity incentives, so we’re offering another avenue to earn XTK.

Launch competition for the xToken Community

As part of our Community Vesting program, we’re excited to announce the XTK Launch Challenge, a competition focused on growing the XTK ecosystem. The challenge will start on March 1st and run for four weeks.

Join the #launch-challenge channel in our discord to stay in the loop

We’ll be running two tracks and giving out up to 1 million XTK in prizes. There will be a Competition Track for free-form work like educational content. There will also be a Bounty Track for specific tasks that contribute meaningfully to the network.

While we’ll be sharing more details in the coming week, here is a preview of the Launch Challenge:

Competition

  • Mascot origin story — naming and explaining the origin of the xToken mascot
  • Educational videos about the benefits of xAssets and how to use them
  • Merchandise — xToken has no merch. xToken needs merch
  • Content marketing — explainers on the xToken vision, how each xAsset works, onboarding guides, etc

Bounties

  • Dune Analytics dashboards for xToken products
  • Staking returns dashboard that shows expected staking returns of underlying protocols (eg SNX, KNC)
  • Subgraphs for each xToken contract

We’d love community feedback on the Launch Challenge — post feedback and pitch your idea in the #launch-challenge channel in our Discord. We’ll be announcing more details there as well.

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Regan Bozman
xToken
Writer for

Business Ops @CoinList. Past lives @AngelList @Handy.📍San Francisco. 🏠 New York.