XQuake Platform Litepaper v1.0
What is the XQuake Platform?
-XQuake platform is a gateway for global decentralized humanitarian work. In the long term, XQuake Platform aims to become a hub for decentralized humanitarian events.
-It’s main goal is to provide direct aid to wherever it is needed, with a clear feedback and transparent transactions, leveraging the XRPL as a low-fee, near-instant way of transferring funds.
-XQuake is establishing a global network spanning over multiple countries where XQuake ambassadors (who undergo a thorough vetting process before being listed) as people from suffering communities, provide aid to their respective regions.
-By choosing to contribute directly to a specific region, user of the platform gets feedback about the donation progress, and is constantly updated on the progress. Database of interviews, report leters, media and statistics from the events will be available to the public at all times.
-XQK token holders have a say in where, and how much is donated. Platform will also provide multiple ways to accumulate funds for donations aside from the Donation Wallet.
-XQK token holders will have a direct say in how the donations are managed. Voting mechanics will use a voter to log in with their XUMM wallet and, according to their XQK holdings, pledge a vote. Their vote will have a higher value depending on how much XQK they hold.
-Cost of a vote is purely a transaction cost, and amounts to 13 drops.
-The launch of the platform will start with a series of votes which will decide the allocations of the current Donation Wallet holdings.
-After this event, more community-driven events will be held and will focus on giving users of the platform a say in how it progresses.
Platform points of impact
-With XQuake expanding their reach worldwide and establishing presence in multiple countries that require aid, the donation wallet will be fractured into multiple, regional wallets. Each wallet will be used to fund aid in specific regions.
-Instead of one Donation Wallet, each region that is in need of help will have its own dedicated wallet. For example, there will be a Regional Nigerian Wallet.
-At the launch of the platform, part of the Original Donation Wallet funds will be allocated to the Regional Wallets, in accordance to the results of the XQK Holder vote, which will decide how to allocate the funds.
-This will allow for a more decentralized way of making donations and holding events, as the Regional Embassies will act more and more autonomous as the platform progresses.
-All information about the wallets, as well as their holdings will be publicly displayed and present on the platform.
-These regional wallets will belong to a respective XQuake embassy.
-XQuake is constantly growing, expanding the number of XQuake ambassadors all over the world, wherever help is needed.
-Ambassadors are a solutions to decentralizing humanitarian work. A big process of choosing ambassadors is the vetting process where the applicants are background checked and interviewed.
-After they pass the background check, a series of small events is done to test the applicants, after which they are given a place on the XQuake platform.
-By featuring the ambassador on the platform, they will be appointed to an XQuake embassy, where everyone who visits the platform will be able to check their bio, their previous work with XQuake and check media from the events that they held.
-An important part of choosing an ambassador is for them to be part of the community they are helping. This ensures a global reach, by acting locally, and wholeheartedly, and with compassion.
-People closely connected with their communities will leverage the XRP Ledger and XQK to help those around them in a transparent way. This is how XQuake embassies will function.
-There will be extensive databases of all events held by each embassy and users will have a clear insight in how all of the events will be held through interviews, photos, podcasts, and more.
The NFT Gallery
-XQuake Platform will feature an NFT gallery, which will contribute to the donation ecosystem with every sale.
-NFT gallery will provide a way for artists and projects to promote their NFTs, whilst making a humanitarian contribution.
-Artists who want to submit their NFTs to the XQK NFT Gallery will have their NFTs featured on the site. A pre requisite for the NFT’s to be featured on the XQuake platform is for a part of their selling price to be attributed to humanitarian purposes.
-A lot of projects already decided to allocate part of their NFT sales to humanitarian causes. This feature will make this process more streamlined and easier, while providing exposure and audience to their NFTs !
The Partnership Programme
-All of the projects that contribute to the XQuake donation ecosystem in a direct donation or some other way will get featured on the platform and will recieve promotion and advertisement from XQuake social platform in campaigns, both online and in real life donation rollouts as XQuake partners.
– Projects and NFTs which contribute to humanitarian purposes the most, will have their NFTs and/or project logos made into banners and street art in the places that they helped.
-At the platform launch, the current token supply at ~86.3B XQK Tokens. In the best interest of the investors, as well as the platform’s interest, XQK token will become a deflationary token.
-A deflationary token is a token designed to reduce supply over time. The main goal of deflationary cryptocurrencies is to increase the scarcity of the token over time, which leads to increasing the value of the individual token.
-This will be accomplished by utilizing the buy-back-and-burn method, where, from each donation made, total 4% of it’s amount will be used to buy XQK tokens, and then burn them, permanently reducing the tokens supply whilst increasing the price of the token.
-This will ensure that the XQK tokens supply continually reduces, providing stability and value increase for the investors, as well as for the donation wallet holdings.