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$XTAG Token Utility
$XTAG is a utility token for DAO Governance on our platform.
Staking $XTAG tokens on the platform serve three major purposes — Governance, Task Eligibility Prioritization, and Reviewer Status Upgrades.
Staking isn’t mandatory for a casual user who simply wants to participate in campaigns without investing (Yes, that’s possible!)
However, it does offer a host of benefits for the ones who show support by staking tokens.
- 1.Participatory Governance$XTAG Stakers will be able to vote on any decision to be made on the platform. Users with a higher amount of $XTAG staked would have a stronger influence on the voting power for any proposals to be executed on the platform.Staking $XTAG allows users access to XDPs — xHashtag Development Proposal. Through this proposal, users can vote in favour of, or against decisions that shape the outcome of the DAO. A majority approval in terms of voting would be required for a proposal to be accepted and implemented.
- 2.Task Eligibility PrioritizationUsers who have staked $XTAG will have an edge over non-staked users, as they are given an opportunity to complete tasks before others. Thus, their chances of being able to participate in the campaign and winning rewards are higher than others.
- 3.Upgradation to Task Reviewer StatusStaked users on our platform would also be to able review tasks submitted by other users which gives them an opportunity to earn more and also make sure that there are no bots/fake participation.
- 4.Special Whitelist Allocation Holders of XTAG get access to a special pool for our campaigns with partner projects, enabling a higher chance of getting rewards. Holding value requirements differ from campaign to campaign, but are usually within the range of $10-30 worth of XTAG.