$100k XIO Flashstaking Competition | Internal Development and Strategy Call #3XIOsocial

We are ridiculously excited to release this video for a few reasons.

First, this is the first-ever inside look at one of our twice a week dev calls. Most people see the external or finished product but don’t know all the crazy amounts of time and energy needed to bring these products to life. While Zachary Dash is mostly the public-facing voice of XIO, there are dozens of ridiculously talented people working endless nights and days to make this happen. Hopefully, this is a nice intro to a few of them and the crazy diverse accents of the group!

Second, this video shares some never before released insight and information on the $100k Flashstaking Competition with some strategy behind it. Not only will this give the world their first hands-on use of the XIO Dapp with real money on the line, but we also anticipate the protocol will get battle-tested beyond belief. While an audit is awesome, we feel this is the safest way to test how people try to manipulate the protocol in real-time.

#XIOsocial: Below are just some questions to jog some conversation and areas we would like input on, but feel free to expand into any topic or ways you think we can make the competition a success!

How can we make the competition better or fairer?

Can you think of any ways we can prevent people from “cheating”?

Are there any specific altcoins we should use? How should rewards be allocated? In what proportions? ie Should only one person win or should the top 10 people on the leaderboard?

From a marketing perspective, how can we spread the word around for the competition outside the XIO community? What questions do you have about the competition?


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Maybe as an additional reward/incentive, how about awarding a certain amount of XIO social credit for all active participants to both encourage more existing XIO members to try it as well as to encourage newcomers to XIO to become engaged in XIO social.

XID-0012c

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Congratulations to you @ZacharyDash and to the dozens of ridiculous talented people for the hard work you are doing.:pray:

I will just give answer about the proportions for now. I think the top 10 on the leaderboard should receive the reward. I’ll come back later

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Thanks for sharing this - felt like I was part of the decision making process. Glad to see how well things are working internally.

I think a scoreboard is a pretty good idea and maybe the top 10 should get the awards? I think it’s also a good idea to reward those who participate.

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Hi Dash and citizens

How amazing to sit in my home late at night and listen to you guys on the video.
It will be hard to compete against players that build their own bots, imagine if a human can outperform a bot.
Sounds like the team are from all over the world!
Learning lots!

XID-f56A0
#XIOsocial

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Absolutely this was great to listen to

Scorebord is obviously cool.

If all participants that achieve at least a specified amount of XIO also get a small share of the price it would be fair, since some of us actually work on a daily basis.

Top 10 also not a bad idee, winner takes it all is a bit against the community feeling we already have.

Good luck with all the hard work!
DrLuke onCall

XID-f56A0

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Here are my thoughts on the questions:

  1. I think the intent is to get as many people battle test it as possible and hence, we should keep the rewards more distributed. (Ex. First 10 get 50%, next 10 get 25% , next 10 get 12.5%, next 20 get 12.5%). This encourages more participation and more robust testing.

  2. We should have one or two stable coins (dai/usdt) and a couple of major coins ETH/link . Don’t make it more than 5 coins in my opinion to avoid clutter.

  3. Regarding cheating, I feel the best way to avoid it is to a) don’t allow transfers from address out of XIO b) before getting reward, the person should have an XID and some minimum XIO(maybe 250) in wallet

  4. We need to market the hell out of this so allow maybe a referral system for two weeks , the more people get an XID through your referral, you get a % of their reward if they win.

XID-6CCb5

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It‘s really cool and exciting to see new stuff coming along. I really liked the idea of scoreboard and getting testnet tokens via tweet. Again if people are creating multiple accounts to get tokens, it wont matter because as you said they will non-transferable which will make pooling them together to earn more reward useless.
Creating the bot to do the work will be one way to do it, but again people who cannot code will be disadvantaged, but again this is testing.
From marketing point of view getting credit for participating based on active participation will be one way to go.
Attracting new people other than xio citizens will be a challenge, maybe welcome xio credits to encourage them.

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he mentioned in the video that tokens will not be transferable.

Prevent cheating: Is there any way to code the Transfer function on these testnet tokens to not allow testers to send tokens to other testers? that they can only be sent by the testnet main address to give them their test tokens and from there they can only use them on the Dapp? My concern is: what prevents a malicious person from sending me their XIO test tokens and that disqualifies me from the competition? How can I prove that wasn’t an alt account I had access to to try to fudge my numbers?

Fairness: if the dapp is changed so that Days = Minutes instead, bots will win the top positions, a few people who never sleep will win a few of the other top 10 positions, everyone else won’t have a chance. I think the Days should = 1/10th Hours instead. 360 days = 36 hours. 240 days = 24 hours. This way the humans wanting to win this by actually using the dapp (not bots) actually have a real chance of winning it, the bots wont have much of an edge. Example: I can stake for 260 days = 26 hours because it is 4pm right now and I know I will have time tomorrow at 6pm to play/compete again tomorrow. I think this math could also help encourage daily playing by everyone.

Reward allocation: If there are 4 different weeks of competitions, each week gets 25% of the full prize amount. Top 10 positions each week get: 6,5,4,3,2,1,1,1,1,1 % each = 25% total each week. This means if the same person won all 4 weeks, they would get (#1 position wins 6% x 4 weeks) 24% of the total prize money. This way the top participants all have something to be excited to try to earn and the top 5 spots each win more, but not so much that the 2nd or 3rd place feel terrible about not being the best that week, more friendly fairer distribution winning model.

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My understanding from the video is that tokens can be transferred but the team would monitor it and anyone who did transfer would be disqualified. If there is a way to actually implement whitelisting on testnet to prevent transfers between participants, it would remove accidents, hassles, and support headaches. And prevent malicious people sending you XIO to disqualify you. Just prevent that whole problem with code would be my suggestion

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LINK is always used in examples so we gotta use that!

Previous XIO staking is what exposed me to SNX , use that.

So my top 5 choices would be: DAI, USDC, LINK, SNX, and ETH.

Should we add some YFI or other super popular hyped tokens right now to help attract those communities of people to hear about this competition? May help with the marketing angle?

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the rewards could be following the same principle as XSI, not just for a few.
1st - 15%
2nd - 10%
3rd - 10%
4 to 10 - 5%
11 to 23 - 2,5%

Altcoins I would go for stable coin like DAI, some big players, like ETH, LINK, MKR, and two coins with mid/low market cap to make it more fun like $PICKLE

not sure if something related with XID can be done to prevent cheating.
XID-8154

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Ok, I have a little suggestion not regarding the competition itself, but the video. I hope this doesn’t offend anyone: I think you should get a better microphone to record xio videos because the audio doesn’t sound too professional. Content is great, but I think we can improve the audio quality a bit, and that would increase the overall quality.

Regarding comeption; any top 40 tokens would be a great add.
XID 5D95B

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Glad you made the connection to crypto leagues - that was what first came to mind as far as what this competition would look like. That extends to the coins they have available for “trading”, barring some weird ones I think that’d be a great lineup to start with.

Incentives are everything in crypto right now; yield farming - nuff said. People love getting stuff for free. That being said I think as many people as possible should be eligible for rewards. I’d say top 10 receive 90% of the rewards total (weighing TBD, unsure as to gauge fairness in that sense) and the remaining 10% could perhaps be split among the top 25, 50 or 100 participants. Even though that 100th spot may not be receiving the most monumental amount, it would still leverage the real money aspect of this competition to the max.

I think this can absolutely attract non-current XIO citizens. Question remains about retention; perhaps lining up another annoucement/release/anything to bridge the gap after/during the competition to satisfy the squirrel-like attention span of what seems like the majority of DeFi/Crypto peoples atm.

XID-7A5E5 ---- will brainstorm on a tighter list of alts to include and a few other thoughts on youtube & twitter.

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The more I think about this the more I really like it. It’s a super clever way to stress test the system while engaging with the community AND creating significant marketing opportunities.

I think the altcoins you pick should have two main characteristics: 1) Volatility - this makes the trading competition much more interesting for obvious reasons. You want big swings as much as possible to get people to pay as much attention as possible. 2) Well known, hyped up coins - this helps with engagement as well, as people are likely already following the price action of some of these coins and so are more likely to participate.

In that light, the two that come to mind are LINK and UNI. I think UNI especially fits the bill because of new it is and well known. I’m sure there are a bunch of technical details that might make this not possible, but those are my two cents.

In terms of marketing, that’s generally not something I have a lot of experience in. But, for what’s its worth, I can at least help spread it to the various telegram groups I’m in that are interested in these types of things.

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So excited for this to start off and be a part of it. The dapp looks amazing. The hard work of the team has really paid off. So impressed. Love the behind the scene call too. Relationships mean a lot, and you can tell there is a strong one among the team…so not to business.

I would take the approach of awarding the most people as possible. This is a time that everyone and everything can benefit from the work aforementioned. I’m not just taking about rewards, but even other incentives. I know members of the community would love some merchandise. So beyond reward as much, and as many people as possible. This would of course cause excitement within the community, but it is also the best possible marketing campaign we could have leading up to release of the mainnet. I would recommend sending this competition to as many possible channels as we can ethically do without shilling. We do truly believe in what we are “selling” though.

I think this is also a benefit for the team. The most amount people cause the most amount of stress. Dash mentioned in the last video how an audit is not perfect. We will have a giant bug bounty. You will have those that find ways to cheat (even if things are put in place to try to prevent it) and manipulate the system. The longer the competition, the better.

Thanks for giving me a way to beat you Steve:) I think you bring up a crucial point about gaming the system, but isn’t this the right time to find those flaws? Planning for those foreseeable problems makes sense. Maybe we develop a protocol for this like disqualifying the sending addresses and or even expecting the incoming tokens to be reported? My point is that finding these loopholes out now on testnet is what we want, we should just plan on how to address it in the competition.

Love the spread rewards system and by week. I think the winner should get a fairly large price and rewards should be as spread as possible (while still making the top spots extremely desirable. This could be the beginning of a pretty major marketing push for the dapp.

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From a-personal-gain-point-of-view, it would be good to have some sort of requirement of XSI or XLP points, but in all honesty best way forward is to just open the flood gates and let everybody have a fair shot and hopefully get quite a few new dedicated citizens onboard.

I look forward to this for sure!

absolutely agree on 90% for first 10 and than 10% for others…

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