Tournament Overview
Do you have what it takes to think of the next viral token idea?
We are giving away $5000 to XIO Citizens who help come up with unique, innovative, and unorthodox token ideas. Each participant will submit their “Token Idea” to the XIO Social Forum for entry.
After submitting, eight members of the XIO Foundation will vote on which ideas are best. The Top Four token ideas (possibly eight, depending on the quality of entries) will earn entrance into the official Token Idea Tournament starting December 13th. There will then be a Two Round Tournament (possibly Three Round) bracket to see who comes out on top.
Round One: 1 vs. 4 Seed
Round One: 2 vs. 3 Seed
Round Two: Winners of Round One
XIO Citizens will then use their tokens on our official Snapshot Page to vote which Token Idea they like more. The person who wins 1st place will receive $3000 + be included in the official XIO Token Reveal on December 22nd for a chance to be one of the tokens we launch in 2021.
Compensation
1st Place = $3000
2nd Place = $1500
3rd + 4th Place = $250
Timeline
- Applications start December 8th.
- Deadline is December 12th.
- Voting begins December 13th.
- Winner announced December 22nd.
Voting Criteria
- Uniqueness – Is this idea creative and new or has it been done before? The more unique and original, the higher the score.
- Clarity – Is your proposal clear and easy to follow? From beginning to end, is it structured in a cohesive manner? The more clear, the higher the score.
- Feasibility – While we love great ideas, we need to know what you’re presenting on is feasible. Any supporting statements that can help articulate the feasibilty of your idea, the higher the score.
- Passion – Ideas are cool, but are you passionate about what you’re presenting? Submitting your idea with a video of you introducing yourself, explaining the idea, and painting the vision is incredibly powerful.
- Impact – Is your idea solving a real problem in the industry? If we build it, will it positively impact the industry? How? The better you explain this, the higher the score.
- Simplicity – The less complex the better. An idea doesn’t need to have a massive system to be efficient. Let’s start simple, and go from there.
The Judges
There will be eight individuals from the XIO Foundation that will give each of the above criteria a score from 0 to 3. The total score will be tallied and divided by six to give your token an XIO Token Score. These are the individuals who will be judging the tokens.
