What is the purpose of XDomain Services?
– We plan to revolutionize the process of domain acquisition and ownership through the use of blockchain technology and non-fungible tokens (NFTs). In traditional web systems, there are often many hidden fees and barriers to maintaining and managing your domain. By registering domains as NFTs and utilizing blockchain-based tools to govern your website, we aim to make the entire process more cost-effective and user-friendly.
With our innovative approach, ownership of a domain is as simple as holding the corresponding NFT in your digital wallet. No more complicated fees or paywalls – if you own the domain NFT, it is yours to use as you see fit. We believe this will greatly enhance the user experience and democratize the process of domains and their utilization.
When will the Hosting Site be ready?
– As of now, a specific date for our hosting site going live has not yet been determined. However, the progress we have made thus far has been impressive and we are eager to share what we have in store with you. We have a plethora of exciting updates and developments planned for you this year, stay tuned for more information.
Why do we need a domain when we have herotags?
– Herotags, a feature of the Maiar Wallet, serve as a convenient identifier or search tool for transactions within your network. While they were not originally intended to function as external domains, Herotags will eventually integrate with social features. But the only purpose in how they will function as a web domain is that they are categorized on the explorer such as, “herotag.multiversx”. Even if they did function as your own domain in the future you’d be stuck with only holding one per wallet that has a “locked” name. However, the primary focus of our services is to provide users with the freedom to create and customize their own blockchain-based web pages no matter the amount desired.
Our platform will offer the opportunity to purchase and claim unique, tokenized domains which will enable users to have complete control over the content they publish. The integration of domains with Herotags and wallets will create an easily searchable system that enables seamless interactions. At XDS, we believe that Maiar and our platform are designed to work together in harmony, making the overall online experience more efficient.
Will you be selling trademarked/copyrighted names or phrases?
– To protect ourselves and our users from potential legal issues, we have implemented a policy of blacklisting any trademarked or copyrighted names or phrases belonging to some of worlds largest companies.
Will these domains be searchable in the internet URL search bar?
– No, we will be hosting all domains on private, decentralized servers where users will be hosting their curated content. This will all be accessible via a browser extension that we build. This is in order to ensure users are provided with the most free and streamlined blockchain web experience while not being tied down by traditional web functions. Tokenized domains will offer a much more owner friendly experience on MultiversX as the asset is directly owned by the holder rather than it being registered to a smart contract or domain name service provider.
What if someone else claimed the TLD we chose to take public before we submit the application?
– To ensure a wide range of options for our community and provide backup plans for the future, we have secured four Top Level Domains (TLDs). Currently, there are no known applications filed for any of these TLDs. Acquiring TLDs can be a costly endeavor, so we feel confident that we will be able to go public before any competitors. However, claiming a public TLD is not the sole purpose of our project but rather providing a more decentralized and fair web building experience. Submitting a public TLD will be a secondary matter that is handled when the project is in the position to pursue it.
If I purchase a domain on one TLD will I also get the other TLD versions?
– If you choose to register the domain “12345.egld,” the domains “12345.mvx”, “12345.erd”. and “12345.ape” will still be available for registration. This allows for flexibility in domain selection and the ability to secure multiple variations of a desired domain name, catering to many preferences.
What are the vouchers for?
– The 3,000 vouchers currently being offered represent a limited round of fundraising for this project. Prior to launching any crowdfunding efforts, we had already begun development on the hosting site. These funds will be used to ensure that our team of developers can continue working on and expanding the capabilities of the site.
Each voucher can be redeemed for a single domain, with no restrictions on character length. The available domain options include .mvx, .egld, .erd, and .ape. These vouchers do not expire, allowing users the flexibility to redeem them for a domain at their convenience, whether it be immediately or at a later time.
What will the pricing be for when domains go live?
– The pricing of our domains will be based on a “number of characters” system, with shorter domains commanding higher prices and longer domains being more affordable. The most expensive domains available will be on par with other minted assets within the MultiversX ecosystem, as we believe the value of these should be recognized by those who have the foresight to acquire them.
What is step 3?
– At XDS, we strive to be a premier domain name service, with a focus on delivering exceptional service to our customers. In the near future, we plan to drop our Whitepaper that will reflect this commitment. Rest assured, this process will not be drawn out indefinitely. We are dedicated to staying on track and bringing our product to market in a timely manner.
Do you need to sell out all the vouchers to have a completed Hosting Site and finish Step 1?
– We have thoughtfully calculated the number of vouchers available for purchase at a cost of 0.5 $eGLD each. The successful sale of these vouchers will not only further our progress, but also help us to initiate the next stage of development. By prioritizing the completion of the first phase of the project, we can ensure that we are providing our customers with a reliable and high-quality product from the outset. Our focus on delivering exceptional service and value to our customers is at the forefront of our business plan.
What will be done with the treasury?
– As part of our financial planning, we have set aside a portion of the funds raised through this project, approximately 20% of the total amount, for investment in a diverse range of assets. The primary objective of our treasury is to provide a secure hedge against market fluctuations by focusing on lower risk investments that offer consistent, reliable yields. While a small percentage of our treasury may be allocated towards higher risk opportunities, our team at XDS generally adopts a conservative approach, prioritizing steady, long-term returns over potentially lucrative but uncertain rewards.
Will there be an ESDT token?
– While we do have plans to offer token options in the future, we are committed to taking the necessary steps to ensure that our offerings do not fall under the classification of a security. We have a thorough strategy in place to mitigate any potential risks and ensure compliance with relevant regulations. It is important to note that our token offerings will be designed solely for use on our site and will not be intended as a means of generating capital for the project or its investors.
What are the benefits to being an OG Member?
– We airdropped OG Members the inaugural batch of vouchers. OGs will also be eligible for exclusive perks, including early access to certain features and resources. Additionally, they will be granted the opportunity to reserve a free domain of their choice before they are made available to the general voucher claimant pool. Stay tuned for more information about these special offers and how you can take advantage of them as an OG.
Why so quick?
– We are making steady progress on a variety of fronts and are confident in our ability to achieve sustainable, organic growth over time. The release of our vouchers represents an important milestone, as it allows us to focus on marketing and development efforts while also giving potential investors the opportunity to get involved right away. By having vouchers readily available, we can be prepared for any sudden influx of interest in our project and ensure that there is sufficient supply to meet demand. With the dynamic and rapidly evolving landscape of the NFT market, it is important for us to be agile and ready to adapt to new developments as they arise.
Do you plan on having partnerships?
– We welcome the opportunity to partner with other organizations that share our vision of improving the NFT ecosystem. Collaboration can be a powerful force for driving progress and innovation, and we believe that by working together with like-minded teams, we can achieve more than we could alone. We are always open to exploring new ways in which we can join forces and leverage our collective strengths to make a positive impact on the ecosystem.
How many people do you currently have on the team?
– Our team is comprised of seven skilled and experienced individuals, including co-founders Derek and Trevor (NFT artists, builders, seasoned community members/investors) and a team of developers including Rostyslav (project manager and front-end developer), Andrii (backend developer), and Yurii (backend developer). We also have a dedicated team responsible for community relations, including and Beniamin Gaidaci (discord moderator & community relations). Each member of our team brings a unique perspective to the table, and we are confident in our ability to deliver exceptional results for our customers and holders.
Please reach us at [email protected] if you cannot find an answer to your question.