PoX Phase

Mainnet Beta will be rolled into a PoX (Proof of X) phase, which will be in early February. L1X coin Token Generation Event (TGE) event is projected for May 2024. PoX Phase is aligned to increase the number of nodes and transactions on the network for a healthy Consensus Mechanism and TGE.

The PoX Phase has been introduced as feedback from exchanges, strategic partners, and advisors has recommended to strengthen the consensus and more traction with on-chain transactions on the protocol. To align with the objective of a healthy TGE; as requested by the community, the number of nodes will be increased along with allowing for a certain number of gasless transactions on the network, the Tokenomics have been aligned to support all of these objectives. All of these measures are designed to help preserve the short and long-term success of the protocol.

PoX phase Objectives:

• Increase on-chain transactions and node hosting

• Alignment of the tokenomics to allow for growth of on-chain transactions pre/ post TGE

Components of PoX Phase

Developer:

Developer L1X Gitbook (Wiki and Development Environment):

The Developer documentation has been aligned with existing and audited contracts which include contemporary and X-Talk cross chain contracts that will allow the developers to seamlessly build by cloning the contracts or building custom contracts.

Multi-Node Architecture:

Introduction of Multiple different types of node categories and introducing multiple number of nodes in the types to accommodate the increasing number of network activity.

L1X Wallet Library:

The L1X Wallet Library has been updated to accommodate L1X VM and L1X EVM based web integrations making it a more seamless developer experience to build on the protocol.

Consensus, L1X VM and L1X EVM Binary Release:

Binaries to allow developers to build on their local system, dev environment or Mainnet. The developers will be able to install these binaries on their system and get started with the development.

Open-Source Contracts to allow seamless development of X-Talk:

Open-sourcing of contemporary and X-Talk contracts for the developers that can be cloned or built from scratch allowing for a seamless and faster developer build process.

Developer GitHub Issues and Correspondence to increase Developer Activity and Communications:

Developers will be able to invite L1X Core developers into their GitHub Issues where the team at L1X will be able to comment and assist on issues directly.

Update for Localnet, Devnet, and Mainnet to provide a seamless developer environment for projects and developers:

Developers and Projects will be able to host their projects on the local system, and developer test network and then deploy them on Mainnet.

Marketing:

Airdrop:

A new Airdrop campaign will be announced in early February 2024, and will focus on users utilising key L1X features such as swaps. The previous airdrop campaign will now end 31st January 2024. All airdrop participants and winners from December 2023 to 31 January 2024 are still eligible for their airdrop rewards.

KOL Campaign:

A KOL campaign will be activated in February to promote the airdrop, usage of the features such as swaps, and to convey to power of the L1X technology.

Colab Marketing:

Collaborative marketing initiatives through existing and new partners will also occur during the PoX phase to help raise awareness of L1X and its capabilities.

AMAs:

More AMAs will run during the PoX phase where L1X team members can educate new users and explain the benefits of L1X.

PR Campaign:

L1X will work with press release partners to help spread awareness of Layer One X and the benefits to users and developers

Partnerships:

L1X will work with existing and new partners to help achieve the objectives outlined for the PoX phase. Partners include but are not restricted to, Centralised Exchanges, KOL and Strategic Partners, L1DeX for Liquidity Bootstrapping, Gaming Arcade with Diga Labs and Decentralised Identity with Omchain

Alignment of Layer One X Tokenomics

Layer One X tokenomics have been aligned to allow for the growth of on-chain transactions and an increase in node operations to preserve the long-term value of the protocol for all users, partners, builders, and investors.

Details of the tokenomics can be viewed here

Changes to the XPerks Club Program

The updates to the XPerks program are highlighted below. It is mandatory for Private and Seed round contributors to Opt-in to XPerks. Public Sale round contributors have the choice to Opt-in to XPerks.

The Xperks program is being streamlined to optimize for long-term sustainability and support a wider range of market conditions, hence the changes implemented such as the removal of Bronze tier, adding a cliff, and vesting of bonus coins.

As mentioned previously the PoX Phase has been introduced to align with the objective of a healthy TGE. All of the measures implemented are designed to help preserve the short and long-term success of the protocol.

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