XFUEL Bounty campaign
April 10th, 2018
During our monthly On the Pulse announcement last Sunday, we introduced an XFUEL giveaway in an effort to increase the circulating supply of XFUEL. However, concerns were raised that this was a giveaway without any actionable requirements. For that reason we will be modifying it to be more in accord with our goals and aspirations.
Thus, we’re proposing an alternative approach that will:
- Increase the supply of XFUEL in small increments over a longer period of time.
- Promote marketing initiatives of various types.
- Allow new investors into the XFUEL ecosystem.
- Prepare the XTRABYTES community for node registration.
That initiative is our redesigned XFUEL bounty campaign.
This campaign will reward users with XFUEL for completing specific tasks. In turn, this will also increase the circulating supply of XFUEL. Whether it’s creating Youtube videos, writing quality blog posts, or posting on Twitter, our goal is to organically increase awareness about XTRABYTES. As such, we will be providing each member with additional opportunities to register an XBY / XFUEL mixed node.
Why is this so important?
Node registration will begin soon after the patent pending status is achieved. However, the circulating supply of XFUEL needed to fill these nodes is currently too low.
- There are currently 413 registered Level 1 STATIC nodes. If each of these nodes were converted to blended nodes, the demand would be more than 70 million XFUEL.
- We anticipate that considerably more STATIC nodes will be registered and that this will dramatically increase XFUEL demand.
- Having over 41 million XFUEL in circulation leaves us with an unhealthy deficit. Our goal is to have as many STATIC nodes as possible, not a runaway coin price.
In response to this, our overall solution is to increase the XFUEL emission rate through the above mentioned initiatives.
Why would people want blended nodes?
STATIC nodes blended with both XFUEL and XBY will produce a higher pool percentage than STATICs containing only XBY. In addition, blended nodes will carry a higher voting weight than non-blended nodes when voting commences (more information in this regard is forthcoming).
Why do blended nodes get special privilege?
Since XFUEL is our development token, everyone who is helping to make XTRABYTES a bigger, better and stronger project is being paid in XFUEL. By purchasing XFUEL (for whatever reason), you are directly contributing to our success. Although not mandatory, we would like everyone to buy XFUEL and create blended nodes. And if you do buy XFUEL, you will be rewarded with various benefits as a result.
On a different note, we greatly appreciate the comments given in our #community-suggestions discord channel. Many great ideas were discussed about future-use cases of XFUEL and how we can expand its reach. If you have any ideas related to XFUEL, we highly encourage you to share your thoughts!
A big thank you for the ongoing support,
The XTRABYTES Team
NOTE: Percentages and breakdowns regarding how XFUEL will be paid out will be stated live on the new website.