In this interview, we chat with Dragonix, a core contributor at XProtocol and co-founder at Gotrade, the ‘Robinhood of Asia.’ Among other things, we discuss XProtocol’s potential, competition, and upcoming node sale.
Also read: 30 Questions and Answers About Layer-2 Blockchain | Cryptopolitan
XProtocol is a Layer 3 decentralized protocol built on the Base Layer 2 and Ethereum Layer 1 blockchains. By leveraging the benefits of the two layers, it is capable of offering high transaction speeds—over 1,000 transactions per second—and near-zero transaction fees. These features make the protocol suitable for building and hosting decentralized applications that require high scalability and performance.
Motivation behind XProtocol
Can you tell us about your background and how you became involved with XProtocol?
Before founding XProtocol, I co-founded Gotrade, a Y Combinator-backed, commission-free stock trading platform dubbed the “Robinhood of Asia.” My prior experiences include co-launching on-chain prediction markets, a cryptocurrency exchange, and a mobile gaming studio, providing me invaluable insights into the gaming industry’s potential. Since 2017, I have been actively engaged in crypto, exploring decentralized technologies’ transformative potential through various projects. My unique blend of experience in fintech, gaming, and blockchain naturally led me to create XProtocol, where I identified an opportunity to innovate, drive mainstream adoption, and bring Web3 to a broader audience.
What draws you to XProtocol, and what excites you most about working on this project?
What excites me most about XProtocol is its potential to bridge the gap between blockchain technology and the mainstream. Our focus on scalability and low transaction costs makes creating a seamless user experience easier, which is crucial for mass adoption. The opportunity to innovate and bring Web3 to a wider audience through gaming and AI applications drives me daily. Working with a passionate team that shares this vision is incredibly rewarding.
Why did XProtocol choose to build a Layer 3 instead of Layer 2 or create its own chain?
We built a Layer 3 solution to leverage the existing infrastructure and security of Layer 1 and Layer 2 networks while providing unparalleled scalability and functionality. Layer 3 allows us to optimize the user experience by achieving the potential to surpass 1,000 TPS and reduce gas fees to mere millionths of a cent. These benefits are crucial for attracting mainstream users and ensuring a smooth, engaging experience. By focusing on Layer 3, we can offer enhanced performance and cost-efficiency without the limitations that typically come with Layer 2 solutions or the complexities of building an entirely new chain.
What advantages does using Base provide for XProtocol?
Using Base as our foundational layer provides several key advantages. Base offers a robust and secure environment that we can build upon, ensuring the integrity and reliability of the Superchain. It also benefits us from its established infrastructure and ecosystem, accelerating our development process. Base’s EVM compatibility also enables easier integration and collaboration with other projects and services in the space, enhancing the overall user experience and expanding our reach.
Project funding and partnerships
Can you tell us about the project’s funding? How have you secured financial support for XProtocol?
We’ve been fortunate to secure financial support from several prominent investors and venture capital firms, including Saison Capital, Dragonfly, Cogitent Ventures, CoinFund, Caballeros Capital, Founder Heads, Zephyrus Capital, and more. These partnerships have provided the resources we need to develop and expand XProtocol. Our funding strategy focuses on aligning with investors who share our vision and can offer strategic support beyond just financial backing, helping us scale our operations and achieve our ambitious goals.
Has XProtocol partnered with any gaming and AI providers? If so, can you share some details about these collaborations?
We have partnered with several leading gaming, AI, and entertainment entities. In gaming, we are collaborating with Wonderverse, a studio building a multichain IP to onboard the next billion gamers into web3 through innovative social engagement mechanics. In AI, we have teamed up with Aethir Cloud for GPU solutions, providing the necessary computational power for our applications, including content generation. Additionally, we are working with Bluwhale, an AI-powered on-chain wallet insights platform that connects DApps to target audiences and helps web3 communities monetize their data.
Coping with competition
Considering that Web2 games are quite advanced, how does XProtocol plan to compete and attract gamers from these platforms?
To compete with advanced Web2 games, we offer unique features that traditional games can’t provide. This includes true ownership of in-game assets through digital assets, play-and-earn social engagement mechanics, and transparent and fair game economies powered by healthy token economics. Additionally, we prioritize high-quality and engaging games that can stand toe-to-toe with their Web2 counterparts in terms of gameplay and graphics. Our goal is to provide a seamless transition for gamers from Web2 to Web3, offering them added value and new opportunities supported by our chain’s scalability and cost-efficiency.
Who is your main competitor in the space?
Our main competitors are other blockchain platforms focused on gaming and entertainment, such as Enjin and Gala Games. However, we believe in a growth mindset and see competition as a way to grow the entire ecosystem rather than just our slice of the pie. By focusing on unparalleled scalability and a superior user experience, we aim to attract new users to blockchain technology, expanding the market for everyone. We’re also keeping an eye on traditional gaming companies starting to explore blockchain technology, as they could become significant competitors in the future.
Upcoming node sale and community airdrop
Tell us about the node sale and why it is important for the XProtocol.
The node sale is a critical component of our strategy to decentralize the network and ensure its security and robustness. We call XProtocol nodes “Xardian Nodes,” a name derived from combining “XProtocol” and “Guardian Nodes.” By distributing nodes to a broad range of participants, we can enhance the network’s resilience and trustworthiness. The node sale also helps to align the community’s interests with the platform’s success, as node operators have a vested interest in maintaining the network’s integrity and performance.
Tell us about the platform’s native token, $KICK, and TGE. Will you conduct a community airdrop?
$KICK is the native token of the XProtocol ecosystem, used as a gas token for the XProtocol Superchain, with value accrual also derived from sequencer fees and other participating ecosystem projects. Our Token Generation Event (TGE) will be a significant milestone, which we are planning for shortly after the node sale. We are also planning a community airdrop to reward our early adopters and active participants in our testnet and through our participating launchpad partners like Intract and DestinyX. This airdrop will help distribute tokens more broadly and encourage greater engagement with the ecosystem we are building.
Community engagement is critical for any blockchain project. How do you plan to engage players and actively participate even after the mainnet launch?
At XProtocol, we’re committed to building a vibrant community deeply invested in our success. To achieve this, we will implement various engagement initiatives, including interactive events, reward programs, and feedback channels to ensure our development aligns with user needs and preferences. We’ll also connect with our community in person at conferences. After our mainnet launch, we plan to introduce new partnerships, infrastructure enhancements, and incubated projects to keep our community engaged and excited about XProtocol’s future. With our cutting-edge scalability, ultra-low gas fees, and compelling content, we’re confident in building and sustaining a passionate community. Through continuous innovation and active involvement, we aim to solidify XProtocol’s position as a leader in Web3 community building.
