The latest Weekly Update from the XCAD team showcased the many projects currently in the works for the project and expressed they were “confident and optimistic about the future”. Projecting they will have millions of users in 2022, all of which will need an XCAD token, the situation looks to be bullish also for the Zilliqa platform on which the XCAD DEX is built. The team also mentioned an imminent release of a ZIL/XCAD pairing to trade XCAD to ZIL and back again on their DEX.
XCAD Network Update — 28th January 2022
Intro:
The market is in a rough state, there’s a lot of fear, the XCAD team understands the pain of this current market correction, however we remain incredibly confident and optimistic about the future. We cannot have good times, without the bad times, yet fundamentally XCAD as a project could not be stronger right now, the companies and creators approaching us we could not have dreamed of before launch. We have a lot of surprises up our sleeves for the community. We know we will have millions of users using our product this year, all requiring XCAD token. Besides market conditions, absolutely nothing has changed for us fundamentally, in fact we’re making huge strides forward.
Let’s remember, the XCAD Plug-In will be promoted by every YouTuber that is having a fan token, therefore unlike most projects, we do not rely on speculation, our biggest strength is real world utility and demand. We’ve had the tip of the iceberg with the DEX release, however the majority is yet to come, but is coming soon.
Please also note, most projects are JUST focused on ONE product for their token, the XCAD ecosystem consists of many. All of which creates demand for the XCAD token.
Burn
We announced last week we would do a burn due to a lot of the circulating supply not being required. While we still aim to reduce the supply, we are taking legal advice on how to do this as we are talking to US exchanges, a burn from the team could impact listings. So we will have an update on how we will tackle this shortly upon further clarification from legal in the US! Expected Mid Feb — Please note users burning tokens is a different concept and in theory the DEX is owned by another entity.
Growth campaign
Similar to the monster campaign we had in December, we are gearing up towards having another growth campaign in February, full of surprises. Stay tuned.
DEX:
The XCAD DEX is going strong, the leading Zilliqa DEX with over a $65m TVL. We’ve had great suggestions from the community, which we appreciate.
- ZIL/XCAD Pairing — As requested by the community, with the team very keen on it too, we have been busy working away at an XCAD/ZIL pair, it’s in the final stages of testing, and is likely to be deployed to mainnet next week. This means you can trade ZIL to XCAD directly on our DEX.
- Multi Claim — One click claim for all rewards is in progress development wise as suggested by the community.
- dXCAD Utility — This is coming very soon, for updates please follow the dXCAD twitter : https://twitter.com/dxcadofficial?s=21
- CG Listing– The XCAD DEX & dXCAD will be soon featured on Coingecko, we’re just making some API adjustments.
- More listings — More listings are on the way, both for single asset and LP
- If you’d like to leave feedback regarding the DEX please use the following form: https://forms.gle/suNNs6Ld1McCS6Kq5
CLO Pad
We launched the creator launch pad on the 16th of January, we have 5000+ sign ups. Most KYCs are approved, a few are under manual review.
The first CLO offering is due to be released soon including staking tiers, just finalising with the first creator + partners.
If you want to leave feedback on the CLO please use the following form : https://forms.gle/suNNs6Ld1McCS6Kq5
If you have had any issues with KYC, please contact us. Our Telegram can be found at the bottom of this article.
The Plug-In
The final part of the puzzle. Although we feel we could launch the Plug-In in its current state, there are a few reasons why you haven’t seen it yet:
- We feel if we get it right the first time, it’ll be absolutely game over so we want to be spot on, and we feel we are almost there. Imagine millions of users using the plugin smoothly, earning fan tokens and not even really knowing they are interacting with crypto. However, in order to claim Creator tokens that have been earned, you need XCAD! Which you can get via a fiat gateway.
- Working with certain creators on marketing plans, creator token utility for said creators. This takes time, especially from a legal perspective.
- A few points below, regarding changes we wish to make before the public roll out.
- Unannounced partnerships, we wish we could say more right now.
For those that participated in the golden ticket round, thank you for the detailed feedback, we have reviewed all of it and are making a few changes, some of them are listed below.
- Private keys & wallet — Due to our business nature of targeting the non crypto community and more the retail user, we have understood we need better key management. For retail users managing private keys is…well…scary. As a result, we have decided when a user creates an account, we will create their wallet for them and manage their keys (Optional) One less scary crypto step for a user, their wallet will be tied to their username.
- Fiat gateway — Deal secured, (More to follow) we’re just working out regional support and integration currently.
- XCAD is now used as Gas– ZIL is in the backend, however purchasing two different assets to use the platform is confusing for a user that has never used cryptocurrency before. (A small bit of XCAD will be converted to ZIL to cover the transaction, a user will not be aware of the conversion only the fee)
- UX/UI Changes — We’re constantly looking to optimize the user experience.
- Trading in the Plugin — Users can now swap fiat for creator tokens and creator tokens for stable coins.
- To obtain further feedback while we implement & test the above changes, we may release a build in the forthcoming days to gather further feedback from the community one final time before releasing to the retail market.
Exchanges
XCAD is in advanced discussions with a wide number of exchanges around the world, you can expect to see many more exchanges exchange listings very soon!
Updated roadmap
We’re internally working on a new roadmap which should be published to the public next week (1st week of Feb)
Summary
In summary, despite the choppy market conditions the XCAD team is still pushing forward, developing our vision, the XCAD community thinks long term and so does the team. Fundamentally nothing has changed, we’re developing products and exceeding expectations at a frightening rate. We haven’t even announced our biggest Creators yet. We know we will have millions of users using our product this year, all requiring the XCAD token. Markets will fluctuate, however our goal and resolve remain the same, mass adoption for XCAD and cryptocurrency.
Need help? Join us on telegram and one of our friendly admins will assist you — https://t.me/xcademy
