How xHashtag Can Accelerate Community Growth and Token Value- Part 2

Published on: 01.11.2021

xHashtag releases the second part of the two-part series, How Web3 projects can make the most out of the xHashtag platform to build strong communities.

One of the major issues that Web3 projects face is stunted community growth and lack of awareness, brought on by multiple factors. xHashtag solves this problem by offering a platform where projects can connect with micro task workers to accelerate community and token value.

In this article, they will walk you through how to fund your campaign.

Funding campaigns and rewarding #communities

Once the project has set the campaign objectives, guidelines, and eligibility criteria, they are now ready to launch the campaign by depositing the required funds (which include the planned incentives or rewards) into the smart contract. These rewards can be in the denomination of either stable coins such as USDT/ USDC or the project’s native $token.

The smart contract will ensure the automatic distribution of funds to the participants of the campaign based on the reward structure set by the project in the smart contract once the campaign is successfully completed. The project is completely free to choose how much or how little they want to reward a user for the tasks they complete. However, we recommend setting the rewards on the higher side to ensure maximum participation and faster results.

The project can also choose to offer a reward multiplier on the pre-defined rewards for the project’s #community users who have staked the project’s $tokens. Doing so will cyclically improve the chances of xTaggers staking your project $tokens to join your community and receive the multiplier bonus on the tasks they complete. This, in turn, helps the project level up through enhanced on-chain participation and off-chain buzz.

Participants and Reviewers

Campaigns can be executed by two kinds of users on the platform:

  • Reviewers

Any regular user who registers on the xHashtag platform to be a part of our liquid workforce without any investment is called an xTagger. xTaggers are the first level of our workforce. On staking a fixed amount of $XTAG, these xTaggers are upgraded to Reviewer status. Reviewers are individuals who check user-submitted tasks for compliance with the campaign specifications.

  • Users

Users would be the xTaggers or the project’s #community members participating in the project’s campaign. Any user can become a part of a project’s #community by staking the project’s $tokens, thus being eligible for accelerated rewards as defined by the project.

How are projects benefited through xHashtag?

– xHashtag serves as a decentralized valuable infrastructure for projects to grow their user base as well as increase the number of on-chain and off-chain activities taking place with regard to their platform.

– In the modern era, workplaces are transforming and liquid teams are now more relevant than ever. Utilizing the collective power of xHashtag’s #communities and xTaggers, projects can accelerate their user and token growth in a highly cost-effective manner.

– Every task performed and submitted by our users is verified and reviewed by our Reviewers. In case of any rare discrepancy in the output, reviewers can raise a dispute, which would be resolved through decentralized voting)

– Projects can create an infinite number of campaigns on xHashtag, each to achieve a specific goal. Every aspect of the campaign is controllable by the project, thus giving them the upper hand.

– By repeatedly offering incentivized micro tasks to users, there is a chance of converting those users into long-standing customers of your platform through behavioral transformation. The more people use your product or services, the better they will be at using them. Eventually, users may come to like what you offer and want it even without an incentive.

About xHashtag

Building on Solana, xHashtag is a Play2Earn DAO for Future Of Work where users can earn crypto by completing simple on-chain / off-chain tasks.

Projects can leverage community talent to accelerate community growth by rewarding valuable actions in their own $tokens with optional vesting to balance sell pressure. From a user’s perspective, xHashtag offers a way to earn rewards for completing tasks, while for the project, it presents a way to effectively achieve a wide token distribution with high ROI by building a community that constantly propels the project’s on-chain and off-chain activities

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