XDomain Services White Paper
XDomain Services (XDS)
Overview:
XDomain Services aims to capture market share in the real world, and bring the real world to open source crypto technology by offering Premium Domain Name Services for the MultiversX community and beyond. Our platform will provide users with the ability to purchase, trade, and personalize unique domain names, thereby expanding the capabilities of domain usage on the blockchain. Our goal is to provide a premium service that caters to the specific needs of builders and users and NON users of Blockchain.
Our Mission:
As early members of the MultiversX NFT community, our team has gained valuable insight into the needs and preferences of investors. Through our observations, we have identified a clear demand for a convenient, sustainable, and scalable product that effectively onboard new users through ease of use and direct output.
Despite the widespread familiarity and usage of domains in everyday life, their potential for use and development within the crypto sphere remains largely untapped. Our aim is to address this gap by providing a product that the entire community can rally behind. Rather than being limited to specific use cases, our platform will empower users to build and create whatever inspires them.
As we move into the era of web 3.0, the possibilities are endless, and we are committed to helping individuals access this vast reserve of opportunity. By providing a comprehensive and user-friendly domain name service, we aim to make the transition to web 3.0 as seamless and accessible as possible.
Why be an NFT project?
As blockchain technology continues to evolve, Non-Fungible Tokens (NFTs) have emerged as a powerful tool for enhancing user experience. Our team at XDomain Services is committed to leveraging the potential of NFTs to tighten the gap of traditional and blockchain-based assets. By utilizing domains represented by NFTs, we aim to make the transition to NFTs more intuitive for all users by making it something palatable and familiar for non-crypto and NFT enthusiasts.
Our approach of linking NFTs with domains will simplify the process of accessing and managing them. We will integrate front end for non blockchain users to utilize our services without an actual wallet. When they are more comfortable and want to receive full functions will have to utilize the blockchain. As long users have full access and ownership to their domain through 24-word wallet key phrase, they will always have control over their domains, ensuring that they maintain ownership over their intellectual property at all times. This approach allows for easy management of domains and provides users with the freedom to utilize their assets as they see fit, aligning with the principles of decentralization/centralized and ownership in blockchain technology.
Another reason why we chose NFTs is because we believe in the decentralization of opportunity for all investors. Non-Fungible tokens are an exceptional method to ensure that happens. Our mints are open to everyone as we want to grow organically with our community. Those that find the mission of XDS a favorable investment are free to join the community and become a stakeholder of the XDS platform and/or host domains as they please.
Opportunities we want to provide for users:
Our goal is to empower users to explore the limitless possibilities of digital properties and community engagement. Our platform is designed to make these opportunities accessible and affordable for everyone, regardless of their experience or budget constraints. We strive to be the go-to destination for individuals looking to establish a digital presence on the blockchain and connect with like-minded communities.
As a forward-thinking organization, XDomain Services is dedicated to fostering interoperability and promoting widespread adoption of blockchain technology. To that end, we are committed to expanding our services to enable cross-chain domains, create domains for other ecosystems, and aggregating domains from other blockchains. By providing domain services that bridge communities across different blockchain networks, it will become easier for the entire crypto community to connect and collaborate.
Our approach is designed to eliminate the need for users to rely on a specific cryptocurrency, such as $eGLD, in order to access our community and tools. This will enable us to provide a more inclusive platform for users of all backgrounds and experience levels. If we want to bring adoption to cryptocurrency, especially MultiversX, our platform must be easy to comprehend and immersive, prompting individuals to learn about the real world applications and benefits of blockchain technology. Through domains, something familiar among most today, we believe we can become a driving force in how blockchain is received and more accepted by the masses.
Why choose us to build?:
XDomain Services is a team of experienced blockchain enthusiasts who have been actively involved in the crypto space for several years. Our team members have a deep understanding of the technology, ecosystem, and challenges facing the industry. We are in constant communication with other builders and investors, which enables us to stay up to date with the latest developments and trends. Showing up on a daily basis we are here getting the necessary tasks done to deliver something of substance and value for all.
We are not a fly-by-night operation but rather a dedicated team committed to being a part of the transformative change that blockchain technology will bring to the world. Building for nine months now our goal is to contribute to the widespread adoption of blockchain and assist others in achieving success along the way. We believe that our deep roots in the crypto community and commitment to our cause will make us well-positioned to deliver on this goal.
Growth Model:
As a blockchain-based organization, XDomain Services has several key priorities that guide our operations and decision-making. Our first priority is to ensure the satisfaction of our holders and members. We recognize that the success of our platform is closely tied to the fulfillment of our users, and we are committed to providing a high-quality experience that meets their needs and exceeds their expectations.
Our second priority is to focus on sustainable growth and technology implementation. We believe in the power of blockchain technology to transform the world, and we are committed to building a platform that is built to last. This means investing in the development and utilization of cutting-edge blockchain technology that is designed to meet the needs of users today and well into the future.
Thirdly, we aim to diversify revenue streams by attracting users outside the crypto field. This will help reduce dependence on a volatile crypto market, improve operational efficiency with a more stable income, and reduce costs for businesses and individuals who use our platform. By taking market share from the traditional web-building space, we can demonstrate practical applications of blockchain technology and educate potential customers about its value. This can establish us as a leading provider of blockchain-based web-building solutions and gain competitive advantage in the market.
Finally, we are committed to fostering strong partnerships, collaborations, and relationships with other prominent projects n the MultiversX space. We understand that the crypto ecosystem is built on collaboration, and we are dedicated to building strong relationships with other organizations, projects, and thought leaders in the space and especially cross chain. By working together, we can achieve more than we ever could alone. This all will play a critical role in driving the growth and success of our platform as we want to be the binding mechanism for the many great projects and services on the blockchain. We are providing the base layer for the blockchain-based web in our community and beyond, so there will be endless opportunities to help other builders extend their reach and provide for the ecosystem.
How will we accomplish this?
It is crucial for our blockchain-based company to stay on top of the market by diversifying our revenue streams and reducing dependence on the volatility of the cryptocurrency market. One way to achieve this is by expanding into Web 2, such as traditional web building. This is where we can leverage the transparency, security, and immutability of blockchain technology to improve efficiency and minimize costs for businesses and creators. We will offer users much more power at their fingertips than the traditional domain name service provider. Having all domains tokenized (NFT in your wallet) and operations run via smart contract will be the game changer. No more paying countless yearly fees simply to uphold your ownership or being locked in a creative box due to a rudimentary UI (user interface) and lack of options to choose from when considering customization.
We aim to bridge worlds of web by creating an application that offers creators and users full freedom to express themselves and explore as they please, while also filling the gaps left by our competitors. Our company’s smaller size allows us to prioritize the needs of our customers and focus on cost-cutting measures in order to keep our development going. Web 3 and blockchain-based companies move at a quicker pace due to being directly connected with their customer base, even sharing ownership in a lot of cases. Having a smaller team also helps us capitalize on this fast paced environment by having the ability to enact adjustments in a more proactive manner because of a smaller overall company infrastructure.
By utilizing blockchain technology to automate several functions of our everyday business, we can minimize costs and reduce the need for manual processes, freeing up time and resources to focus on the bigger picture and continue to grow and improve our services. This approach allows us to stay competitive in the market and position ourselves as a leading provider of blockchain-based web-building solutions. This industry is still quite fresh as there are only a few true competitors currently building in the sector and we see the opportunity to offer users what the rest aren’t even thinking about.
Here is a step by step process of the upcoming year of development
Domain Wars
One of the perks of using NFTs is the ability to gamify the collecting experience. To display this in real time is the upcoming Domain Wars where members of NFT communities can compete to maintain “supremacy” of domains on specific TLDs. Whatever community holds the most earns bragging rights and unique benefits for their passionate community.
As we continue to implement new TLDs and expand our reach these events will only become more intense. Bringing communities from all across crypto to MultiversX so they can see what opportunities are waiting for them here. Giving us the opportunity to show what makes MVX stand among the rest.
We want our product to be a means of connection for users of all backgrounds and origins to come together for a similar cause, which is a love for domains and innovation. Friendly competition is one of many methods to ensure we achieve said goal.
As we get closer to the first Domain War more information will be released on how the event will take place.
Here to Instill Adoption
The XDS platform will be the ultimate collision of blockchain based services/ownership and one of the most utilized ecosystems in existence, the internet and domains. There is no reason for Web 2 builders to come to the next phase of the internet as the liquidity still resides with them. As awareness of blockchain technology and its useful applications grow, demand will only increase for our services. We will offer an avenue for honest acquisition, management and content display experience for you and your tokenized domains. Never having to pay a yearly fee to simply uphold “ownership” over your asset. Using MultiversX and its innovative approach to NFT ownership, we will display how they can empower the everyday individual by providing a more secure and convenient means at managing what is theirs.
The next year will be laying the foundation for builders on the traditional web to transition and find their niche in the era of domains and true asset ownership. As of when the internet started and up to this point, we have been on a long trial and error process to see how the World Wide Web will interact with humanity along with the inverse. After decades of improvement we have found the formula on what works and it’s time for the next step, automation and security enhancements. This is where blockchain can be a big help. We know with the power of MultiversX we will be a leg up compared to the rest of the competition
In the future when our services are fully operational, our site will be a seamless experience. Providing the resources and information needed for users of any background so they can get started on their journey in Web 3. The oeople have been misled to think the internet is a confusing place where a select few can effectively curate and share content. It’s time for those capabilities to be unleashed to the masses with intuitive site building tools that do not take years to master.
Here is a chronological step by step on our approach to achieve our goals
Step 1:
a.) Release Cognacs (OG members), Litepaper, and announce the start of Voucher sales ✅
– Cognac holders airdropped XDomain Voucher ✅
– Cognac holders dubbed OG members, given exclusive access to OG Chat in discord ✅
– OG members offered chance to reserve one domain of their choice ✅
b.) Create private Top Level Domains (ie .mvx, .egld, .erd) and a tool for users to log in with their wallet to access our servers (Hosting site base is established) ✅
– OG members will be given access to the dev net of the hosting site to help test ✅
– Testing will be expanded to a larger pool of people in order maximize chances of finding potential issues ✅
c.) Create a framework for claiming and purchasing domains ✅
– Burn function to exchange voucher SFTs for 1 domain each ✅
– Create payment scale based upon number of letters
d.) Create a name database for all 4 TLDs and domain tokenization function ✅
e.) Blacklist select companies and trademarks ✅
f.) Reserve domains for coordinated claimers (influencers, projects, community members) ✅
Step 2:
a.) Have domains & Hosting Site ready for distribution/claim/sale ✅
– Start creating features and implementation process
b.) Distribute domains to Coordinated Claimers ✅
c.) Open up voucher burn ✅
– Voucher claimers will have a period of time to claim before $eGLD based sales ever go live
d.) Open sales to the public ✅
– XDomains will be purchased via $eGLD to start at a standard rate based off number of letters (less characters more expensive, more characters less expensive)
– People can also continue to burn vouchers to claim XDomains after domain sales go public, or hold them…
e.) Continue to develop our application in order to have proper structure for onboarding other crypto and web 2 communities
Step 3:
a.) Reveal more partners and their domain with wallet connect for users to interact with their page.
b.) Make the first set of integrations available to the public.
– At this point users will have some options on how to interact/build upon their domains.
Step 4:
a.) Starts talks of introducing a token into our ecosystem
b.) Start expanding to other blockchains to create/aggregate domains
Step 5:
a.) Explore cross chain partnerships and building opportunities
b.) aggregation of other web2 domains
NFTs Collections & Uses:
XDomain Vouchers (3,000 SFTs)
Vouchers will be the means of securing the first available domains on our platform. For each Voucher (0.5 $eGLD) you will be able to secure one domain name, no matter the length/cost.
There is also the option of holding the Voucher and choosing to not burn it, which will generate a yield of our token by some form of staking mechanism in the future.
Vouchers will be released according to market demand, so the whole collection may never be used and whatever is left over will be burned.
For a limited time Voucher holders qualified for an Impartial Apes airdrop for each Voucher in their wallet. That event has now passed.
Link to collection: XDomain Voucher
Impartial Apes (1111 NFTs)
Introducing The Impartial Apes – the exclusive collection for the discerning crypto enthusiast. With a limited supply of only 1111 NFTs, this collection offers a unique opportunity to be a part of a select group of individuals who will shape the future of the platform.
As a holder of The Impartial Apes, you will have the privilege of being a lifetime member with free domain hosting, free upgrades on domain platform, active participant in the governance of the platform and influencing key decisions that will shape the trajectory of the ecosystem. Additionally, you will have the chance to partake in token distribution events and earn even more tokens through staking.
These apes are all hand drawn by the founder Derek himself. Taking up art as a hobby a little over a year ago, he has quickly progressed into character based NFTs with high attention to detail and endless passion being poured into his work. Countless hours of work has gone into bringing these NFTs to life along with maintaining a unique style that is not quite explored in the MultiversX space.
Impartial Apes has the trait variance of many larger 10k collections squeezed into just 1111 apes. Each one will have its own style and personality, unlike any other of the fellow primates generated along with them. Each piece will be something worth holding, even some rare traits like the coveted Alpha Apes or 11 stunning 1:1 creations. This collection will be a spectacle in MultiversX and will most certainly stand out from the rest of the apes simply from an artistic standpoint, let alone the inherent utility that backs them.
Impartial Ape Benefits
1.) Imp Ape holders will take part in governance votes on various decisions relevant to the community
2.) Holders will receive a specified amount of tokens depending on how much of the platform they own (How many Apes they hold)
3.) Future Staking for XDS token
4.) Receive platform based rewards
5.) Free mint of our Ethereum NFT collection (Coming Soon)
Bonus – Alpha Apes, ones with the Alpha trait (Banana Earring), will receive bonus benefits for their owners to enjoy.
1.) 30% rewards boost
2.) Discounted merchandise (Coming Soon)
3.) Enhanced staking rewards
4.) Lottery for different external rewards
Don’t miss out on this opportunity to be a part of the vanguard of crypto investors who will have a direct impact on the success and growth of the platform. With The Impartial Apes, you can be a leader in shaping the future of the ecosystem. Act now and secure your place in this elite collection before it’s too late.
Dinky Linkers Club (8888 Supply)
The Dinky Linkers Club is the chosen collection to represent the XDS community on the Ethereum side of our ecosystem. Our cross-chain capabilities will enable us to onboard the masses and offer our future tools and services to multiple communities.
Our Impartial Apes symbolize ownership on the platform, while the DLC provides a reasonable and affordable means for users to gain premium access to our platform, along with a few additional benefits.
Benefits of owning a Dinky Linker NFT include:
- Access to future premium web building features on our platform
- Free hosting of names, for each NFT held
- Monthly WL (Whitelist) access to claim a free name, for each NFT held
– Receive part of token distribution
With only 8888 in existence, even this collection will be stretched thin as the platform grows and more individuals want to build unconditionally on the platform along with claiming free names.
This collection was thoughtfully created to not diminish the value of the Impartial Apes, as the Apes solely represent ownership in our application. Dinky Linkers will not have any effect on Imp Ape benefits.
Both collections were created to mesh and further enable our platform to be adopted by users outside of crypto in the Web 2 space, by being part of a real platform aimed to solve current issues and bottlenecks in the current web building environment.
XDomains (Dynamic Supply)
XDomains are tokenized names that represent your hostable domains. Each name is a unique 1:1 to the Top Level Domain it is based on. The amount of possible names will be ever expanding as we create more TLDs. Unlike other collections, value of the NFTs will not be determined by the amount of supply but rather the rarity/uniqueness/brandability of the name. The shorter and more attention seeking names will be the most sought after, same as with traditional web domains.
Domains represented as NFTs help enhance security of your assets, especially with how ownership is determined on MultiversX. NFTs are owned by the wallet that possesses them rather than being bound to a smart contract. Making it more difficult to have your names seized and stolen. As long as you protect your personal information and use trusted platforms when listing them on marketplaces or exchanges it is certain your NFTs will be safe.
Owning your domains in your wallet symbolizes true ownership as only you have access to them. There is no means of confiscation or requirement of payment to maintain ownership. We want to empower those who utilize our collections and service by giving them full control over their property. Where with traditional web domains you must pay yearly if you want to maintain rights over your domain names.
This collection will be hostable on our platform where users will have the ability to build and design their own web pages based on the blockchain. Using SDKs and smart contracts to provide a fully customizable experience to the users specific liking.
The XDS platform will be privately hosted and spread across decentralized servers, creating the ultimate privatized domain hosting experience. Rather than having to adhere to the rules set by large corporations that determine the pace for less experienced web developers/creators, users will have the freedom to do what they like. Not having to operate under the thumb of those with the interest to purely profit to their heart’s content. We will display the possibilities that can be had with privately hosted domains and blockchain technology as we continue to build out our app.
In order to access these domains you will have to download our browser extension and log in via wallet connect. They will not be publicly searchable in the URL search bar from any engine. These domains will be completely separate from the current World Wide Web. Building further upon the privacy while still having the intent to give them the ability to interact with public domains. We will expand on this notion when it comes to the time this information is relevant.
Our application and XDomains collection will change the game in terms of hosting your content.
Other included collections:
Both Derek and Trevor have previous NFT collections that will be integrated into the XDS ecosystem. It is a top priority for them to acknowledge and reward their earliest supporters. While details on the integration of these collections into the platform are currently being finalized, the company is committed to keeping the community informed as development progresses. The following is a list of collections that will be included in the integration:
– Degen Souls
– Degen Souls Degenerative
– Angry Ducks
– Elrond Energy
What Top Level Domains (TLDs) will we be offering?
So far 5 TLDs in total
– .mvx, .egld, .erd, .ape, .bear and more soon…
These will be the core groups of domains that will be claimable on our platform via Voucher burn and public sale. But as we continue down this path of nonstop development we will be adding more TLDs in order to provide options for all preferences of possible community members. We will host events and/or provide further information whenever we decide to implement a new TLD.
Budget:
% of project funds allotted
a.) Team
– 10%
– During the early parts of our journey money raised for the team will be set aside for further development purposes as a safeguard.
– Team will not be receiving payment till business is proven and will not hurt progress (Will be publicly disclosed with community)
b.) Development & Marketing
– 70%
– Majority of funds will be used for development until we have a marketable enough product, then we will slowly divert funds towards getting XDomain Services seen on a larger scale. We understand the majority, if not all funds, must be funneled back into what we are building.
c.) Treasury
– 20%
– Very low risk diversification of ESDTs, cryptos & NFTs.
– %s of treasury will be dedicated to different purposes (public TLD application, bolster XDS project value, & fallback funds in case revenue stream slows)
Treasury Management:
Our treasury will be managed with a vigilant risk management strategy, ensuring stability and consistent annual percentage yields. As XDS establishes its foundation, it is imperative that we prioritize steady growth and value accumulation, enabling us to meet operational expenses as we advance our development.
As builders, we understand the importance of a robust and secure treasury. Our treasury serves as a contingency fund, providing a safety net in challenging times. By diversifying our holdings across multiple tokens and cryptocurrencies, we aim to maintain a stable and growing base value. A disciplined and expanding treasury is a key asset for any project or organization, and we are committed to ensuring its longevity and growth.
Part of our treasury will be based of partnerships with other projects. Depending on agreed terms we will be allocation certain %s of their ESDT/NFTs in order to support them along with strategically financing development.
Partner ESDT Allocation:
- $RARE Token Allocation – $RARE raised from sales of domains
- 23% deposited into $RARE farms/pools to compound more $RARE
- 7% to the team
- 70% goes to development for our platform
*As we continue to grow, we will incrementally decrease allocation of $Rare from development and add it to the % locked up in pools.
*All $RARE dedicated to development will not be liquidated into the market\ in a careless way. We value SRB as a partner and want to help preserve its value by selling off in respectable amounts and timing.
The $RARE that would be added to the pools would function as a part of our treasury, continuously compounding for more $RARE and creating more value for us and SRB. We want our treasury to reflect the core builders in our ecosystem by allocating a percentage of their NFTs/tokens in our treasury. Locking up more of the supply and helping them reach higher levels of valuation on multiple fronts.
Meet the team:
– Derek, CEO and Founder of XDS, is a seasoned entrepreneur with a deep passion for blockchain technology since 2018. With a background in pattern trading, he quickly saw the potential of crypto and current/future trends and became a highly engaged member of the MultiversX community since its early days of ERD.
Dedicating years of research to finding the most innovative and impactful solutions in the space, Derek founded XDS with a mission to revolutionize the relationship between the real world and blockchain. Committed to bridging the gap between these two realms, Derek’s vision is to create a seamless ecosystem that makes it easy for users to learn, explore, and participate in the blockchain world.
As a proud OG of MVX, Derek is driven by a desire to make the ecosystem a better place. Unknowingly from the start Derek has built one of the biggest chains of people who adopted $eGLD and MultiversX. He intends not to stop spreading the word and create the application that will intrigue the real world into crypto like it hasn’t been done in the past. Leveraging his expertise and experience to lead XDS to new heights and achieve his goal of a world where blockchain technology is accessible and transformative for all.
– Trevor, Co-Founder and COO, has been a helpful force behind the company since its inception. As an early adopter of MVX NFTs, Trevor was inspired to create his own unique collection, Elrond Energy, the first energy drink NFTs on the MultiversX platform. This artistic representation symbolizes the relentless energy and dedication of the MultiversX community to continuously improve the ecosystem. With over a year of experience and a strategic plan Trevor is committed to delivering the best possible outcomes for his supporters.
Through XDomains, he sees that he can help empower creators like himself who struggle to find the resources they need when starting out in a younger ecosystem. XDS will be an application that makes life easier for all levels of users and creators. Providing an even more streamlined experience for those in MultiversX and giving individuals more capabilities than they can imagine with the power of blockchain.
– Beniamin, Discord Server Manager, a helpful member and supporter of the XDS team by providing his tech expertise in managing servers and other community interaction applications. He has been in on the talks about XDS’ concept since the beginning and was enthusiastic to join the team when asked. In the years to come Beni will be a valuable asset helping manage a lot of backend management and community interaction.
– Our developers:Meet Andrii, Rostyslav, and Yurii – a talented trio of full-stack developers with a wealth of experience in web and blockchain development. Their impressive track record of delivering successful projects and their deep understanding of the technicalities of the projects they undertake, made them an ideal fit for XDS.
From the initial conversation, they grasped the vision behind XDS and were eager to contribute their expertise. Their passion, professionalism, and respectability have made them an invaluable asset to the team. With their combination of skills and experience, they are well-equipped to tackle any challenge and deliver exceptional results.
Partnerships:
Bored Ape X Club
Lucky Birds
Super Rare Bears
…
Disclaimer:
– We, the team at XDomains, and as individuals, take no responsibility for decisions you make after reading this paper. This is not financial advice. Use this information for what you will at your own risk. We always will work hard for the community, we know there is always investments involved and will always use funds to move the project forward in development.
– WP is subject to change as we progress.
Paper updated: 4/22/23