Welcome to the Xtake $XTK Exclusive AMA with The Gem Hunters.
We would like to thank the XTAKE team for kindly sharing information on there project with our community. Before commencing our pre-set questions which will be followed by public engagement we would like to share some basic information on the project to give people a better idea before the Q&A begins.
xtake.finance was born as a global DeFi ecosystem based on the XTK governance token.
One of Their main goals is to provide the maximum amount of freedom to xtakers. Thats why with this program you won’t need to lock your tokens in Uniswap for a certain time, you are going to be able to add or remove your liquidity whenever you want. This is an easy Yield Farming Uniswap program.
Q1. To get things started could you give our community some basic information about Xtake, what brought you to actually create the projects and what are your goals?
The idea of xtake borns in 4Q 2019, in that moment a lot of countries were considering implementing an Universal Basic Income. And at that moment is when we had the idea of creating a DeFi blockchain ecosystem where you can generate monthly passive income only by holding the XTK governance token. Our main goal is to generate wealth for XTK tokenholders with a true decentralized income, by providing value throught the improvement and development of the xtake ecosystem
Q2. At this point in time you are an anonymous team, we would like to get to know who the team behind Xtake are, could you give us some insights on the current team size, backgrounds, experience and how you all initially met and decided to work together?
The main team is formed by 3 devs. We are crypto entusiasts and friends from years ago, we have a lot of experience in trading, mining and blockchain development. Each of us is working for big companies non crypto related, we have 2 programers and 1 finantial broker onboard, due to professional incompatibilities with our companies we can't reveal our professional profiles at this moment but to fix this we are working on creating a Foundation (probably in the Netherlands) to manage the future of xtake
Q3 Projects that started on Uniswap often receive bad press, due to many bad actors launching on the platform. What sets Xtake apart from the rest? Are you planing to release transparency data, such as expense reports?
Our main goal is make DeFi easy to undestand to everybody and one of the requeriments is obviously the transparency, due to this in xtake we have a few important points to coment:
All the funds raised in our Public Sale are going to add liquidity to the Uniswap pool. We are not asking for funds to develop the project, because its development is already priced and guaranted . We are asking for funds to make a big pool with great liquidity to have a high quality trading. The 100% of the funds raised will be locked in Uniswap, this point is critical , and it will allow the holders of the project to get enought liquidity to trade in Uniswap without big slippages. We are going to make public the address with the team funds and those funds are going to be locked at least 2 years. Our marketing and operations address is also going to be public and we are going to elaborate a three months inform about the expenses, as a requisite for our future Foundation
Q4. In your white paper you have stated you want create a monthly income generation ecosystem inspired by the Universal Basic Income, but managed by a blockchain (ETH) Can you go into some basic detail on how UBI ecosystem works, so we and our audience can get a better understanding of how we can stake and earn using UBI?
To clarify it in an easier way. You buy XTK and hold it in your ETH address, this will enable monthly payments to your address without any kind of lock or limitation, your tokens your keys.
Q5. How many XTK tokens will be needed to stake, what are the rewards, will their be varios lock up periods and will these be adjusted?
Our first tier starts at 100.000 XTK so you need that quanty to begin receiving UBI. There are no lockup days, our system takes a daily snapshot and accumulates the profit every day until the payment day. The monthly profit of the xtakers ranges from 5% to 25% depending on the amount of XTK being held.
Q6. You mention a Ubiswap – Xtake & Uniswap yield farming program in your whitepaper and that investors wont have to lock their tokens, can you go into some basic detail on how this works and how it will be sustainable?
Sure, our system will evaluate all the liquidity providers in Uniswap and make 3 dailly random snapshots at diferent hours to save the balance of the liquidity providers (their addresses). This will allow us to calculate a daily average of the 3 snapshots and so on during the whole week (7 days). By the end of each week we will have the weekly liquidity average balance of each liquidity providing address in the pool. So each xtaker is able to add or remove liquidity when he wants, the important point is his average weekly balance and it is going to be paid based on that balance, from 2.5% to 12.5% each week. Its important to say that the approximately 98% of our max supply is not circulating since its meant to pay UBI and UBIswap rewards. With our max supply we have an estimation of 7 years to reach full emission.
Q7. The XTK token is not yet live, will their be a pre-sale and if so what price and how and where can people attend the sale?
We are going to launch the public sale and as we said, all the funds will be destined to adding liquidity to Uniswap pool.
The price is 0,000002 ETH, our hard cap is 200 ETH and the public sale is going to start just after publishing this AMA.
Our Public Sale webpage is:
Feel free to buy there right now!!
Q8. The Xtake roadmap states that you plan to start Big marketing campaigns, introduce Partnerships, list on Bigger exchanges and perform Econometric tests. Can you give us any more insight or detail on how you plan to carry out the above, what exchanges are you planning on contacting and are you already talking to any businesses for partnerships?
Absolutely, we have in mind an adaptative reward system where the decissions are going to be made by holding our governance token XTK, we will start testing in Q4 after xtake establishes in exchanges and UBI/UBIswap are working
In the first stage we are going to start with Uniswap and other CEX exchange with whom we already have a deal, so XTK trading is guaranted in DEX and CEX plataforms. We have some proposals for bigger CEX that we will study, but our main goal is to create a own DEX with support for other blockchains. We are talking with other projects that could be interested in using XTK as a bridge between their own blockchain and Ethereum. One of our more fascinating plans is to create a bridge swap platform who will support payment gateways in others cryptocurrencies with worldwide adoption, this means that you will be able to spend your UBI in your daily real life, that is our ultimate goal.
Thanks to The Gem Hunters for this AMA, for more info please visit:
And feel free to ask any more question in our new official telegram group: